{"id":5922,"date":"2025-08-31T10:08:31","date_gmt":"2025-08-31T00:08:31","guid":{"rendered":"https:\/\/murrayslatter.me\/?p=5922"},"modified":"2025-08-31T10:08:33","modified_gmt":"2025-08-31T00:08:33","slug":"what-i-am-investing-in-and-why-microsoft","status":"publish","type":"post","link":"https:\/\/murrayslatter.me\/?p=5922","title":{"rendered":"What I Am Investing In and Why: Microsoft"},"content":{"rendered":"\n<p><strong>The Simplest Thesis in My Portfolio<\/strong><\/p>\n\n\n\n<p>Some companies require deep analysis to understand their edge. Microsoft isn\u2019t one of them.<\/p>\n\n\n\n<p>In my view, Microsoft is perhaps the single most mission-critical company in the world. Not in theory, but in practice. It powers the core operations of enterprises, governments, schools, and households across every continent.<\/p>\n\n\n\n<p>If you snapped your fingers and Microsoft disappeared, the world would stop functioning.<\/p>\n\n\n\n<p>And that\u2019s exactly where my thesis begins.<\/p>\n\n\n\n<p><strong>1. Microsoft Passes the \u201cSnap Test\u201d<\/strong><\/p>\n\n\n\n<p>I only invest in companies that pass what I call the Snap Test:<\/p>\n\n\n\n<p>If this company vanished overnight, would people notice? Would systems break? Would workflows collapse?<\/p>\n\n\n\n<p>For Microsoft, the answer is emphatically yes. It\u2019s embedded into:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Every major enterprise via Office 365, Teams, SharePoint, and Outlook<\/li>\n\n\n\n<li>Financial and operational systems via Dynamics 365<\/li>\n\n\n\n<li>Infrastructure and DevOps via Azure<\/li>\n\n\n\n<li>Security, identity, and device management across hundreds of millions of endpoints<\/li>\n<\/ul>\n\n\n\n<p>It\u2019s not just a vendor. It\u2019s the backbone of modern digital work.<\/p>\n\n\n\n<p><strong>2. A Full-Stack Platform with Global Lock-In<\/strong><\/p>\n\n\n\n<p>Unlike most companies, Microsoft operates at every layer of the enterprise software stack:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Front-end productivity tools: Word, Excel, PowerPoint, Teams<\/li>\n\n\n\n<li>Core enterprise software: Dynamics, Power BI, Power Platform<\/li>\n\n\n\n<li>Cloud infrastructure: Azure, Azure AI, Microsoft Fabric<\/li>\n\n\n\n<li>Security and identity: Defender, Entra ID (formerly Azure AD)<\/li>\n\n\n\n<li>Developer tools: Visual Studio, GitHub, Copilot<\/li>\n<\/ul>\n\n\n\n<p>This creates a deep moat through integration:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Shared identity<\/li>\n\n\n\n<li>Unified billing<\/li>\n\n\n\n<li>Seamless data flow<\/li>\n\n\n\n<li>IT centralization<\/li>\n<\/ul>\n\n\n\n<p>It\u2019s not just hard to rip out\u2014it\u2019s strategically advantageous not to.<\/p>\n\n\n\n<p><strong>3. The Copilot Effect: Strategic AI Integration<\/strong><\/p>\n\n\n\n<p>Microsoft\u2019s approach to AI has been masterclass-level:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It didn\u2019t build its own LLMs from scratch; it partnered with OpenAI<\/li>\n\n\n\n<li>It quickly productized GPT across its entire stack: Copilot in Word, Excel, Teams, Outlook, GitHub<\/li>\n\n\n\n<li>It owns distribution at scale\u2014100s of millions of users now interact with AI tools embedded into familiar workflows<\/li>\n<\/ul>\n\n\n\n<p>Copilot is not a new app. It\u2019s a new layer of intelligence across every app.<\/p>\n\n\n\n<p>It doesn\u2019t require retraining. It\u2019s just there\u2014improving productivity instantly.<\/p>\n\n\n\n<p>That\u2019s AI with immediate ROI\u2014and enterprise CFOs are noticing.<\/p>\n\n\n\n<p><strong>4. Talent, Strategy, and Acquisitions<\/strong><\/p>\n\n\n\n<p>Under Satya Nadella\u2019s leadership, Microsoft has evolved from \u201cthe Windows company\u201d into:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>A cloud-first, AI-enabled, enterprise platform conglomerate<\/li>\n\n\n\n<li>With a disciplined capital allocator\u2019s mindset<\/li>\n\n\n\n<li>And a clear long-term strategy<\/li>\n<\/ul>\n\n\n\n<p>Key acquisitions like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>LinkedIn \u2192 data + network<\/li>\n\n\n\n<li>GitHub \u2192 developer reach<\/li>\n\n\n\n<li>Nuance \u2192 healthcare + AI transcription<\/li>\n\n\n\n<li>Activision Blizzard \u2192 Xbox ecosystem expansion<\/li>\n\n\n\n<li>OpenAI partnership \u2192 strategic lead in generative AI<\/li>\n<\/ul>\n\n\n\n<p>Each piece fits into a long-term vision.<\/p>\n\n\n\n<p>Microsoft doesn\u2019t just buy companies. It acquires enduring platforms.<\/p>\n\n\n\n<p><strong>5. Optionality at Scale: Cloud, AI, Quantum<\/strong><\/p>\n\n\n\n<p>Most companies are lucky to ride one wave. Microsoft is riding three:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cloud computing (Azure, which is still growing faster than AWS)<\/li>\n\n\n\n<li>AI as a service (via Copilot, Azure OpenAI, and its own model portfolio)<\/li>\n\n\n\n<li>Quantum computing R&amp;D (a future hedge with long-term optionality)<\/li>\n<\/ul>\n\n\n\n<p>This is not a company at the end of its growth story.<\/p>\n\n\n\n<p>This is a company building the future\u2019s infrastructure\u2014quietly, methodically, and at unmatched scale.<\/p>\n\n\n\n<p><strong>Final Thoughts: The Forever Compounder<\/strong><\/p>\n\n\n\n<p>Microsoft is a cornerstone in my portfolio not because it\u2019s flashy, but because it is foundational.<\/p>\n\n\n\n<p>It meets every key filter in my investment philosophy:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u2705 Passes the Snap Test<\/li>\n\n\n\n<li>\u2705 Mission-critical platform with network effects<\/li>\n\n\n\n<li>\u2705 High gross margins, operational leverage, strong free cash flow<\/li>\n\n\n\n<li>\u2705 World-class leadership and capital allocation<\/li>\n\n\n\n<li>\u2705 Embedded AI strategy with real-world use cases<\/li>\n\n\n\n<li>\u2705 Optionality across industries and technologies<\/li>\n<\/ul>\n\n\n\n<p>I\u2019m not just investing in Microsoft because of what it\u2019s done.<\/p>\n\n\n\n<p>I\u2019m investing in Microsoft because of what it enables\u2014for hundreds of millions of people every day.<\/p>\n\n\n\n<p>That kind of scale, embeddedness, and staying power is very hard to beat.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Simplest Thesis in My Portfolio Some companies require deep analysis to understand their edge. Microsoft isn\u2019t one of them. In my view, Microsoft is perhaps the single most mission-critical company in the world. Not in theory, but in practice. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":5946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","clearfix"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What I Am Investing In and Why: Microsoft - Murray Slatter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murrayslatter.me\/?p=5922\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What I Am Investing In and Why: Microsoft - Murray Slatter\" \/>\n<meta property=\"og:description\" content=\"The Simplest Thesis in My Portfolio Some companies require deep analysis to understand their edge. 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Most Australian investors concentrate their portfolios domestically. The majority of SMSFs, retail investors, and even some institutional funds hold a dominant allocation to the ASX, led by the\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/20250603-ASX.png?fit=1068%2C609&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/20250603-ASX.png?fit=1068%2C609&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/20250603-ASX.png?fit=1068%2C609&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/20250603-ASX.png?fit=1068%2C609&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/06\/20250603-ASX.png?fit=1068%2C609&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5932,"url":"https:\/\/murrayslatter.me\/?p=5932","url_meta":{"origin":5922,"position":1},"title":"What I Am Investing In and Why: Axon Enterprise (NASDAQ: AXON)","author":"Murray Slatter","date":"August 31, 2025","format":false,"excerpt":"1. 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If the answer is \u201ceveryone\u201d, you\u2019re probably\u2026","rel":"","context":"In &quot;Investing&quot;","block_context":{"text":"Investing","link":"https:\/\/murrayslatter.me\/?cat=11"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/08\/IMG_1794.jpeg?fit=639%2C426&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/08\/IMG_1794.jpeg?fit=639%2C426&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/murrayslatter.me\/wp-content\/uploads\/2025\/08\/IMG_1794.jpeg?fit=639%2C426&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5930,"url":"https:\/\/murrayslatter.me\/?p=5930","url_meta":{"origin":5922,"position":2},"title":"What I Am Investing In and Why: CrowdStrike (NASDAQ: CRWD)","author":"Murray Slatter","date":"August 31, 2025","format":false,"excerpt":"1. The Case for CrowdStrike Starts with the Network CrowdStrike is one of the most powerful network-effect companies in the cybersecurity space\u2014and one of the most structurally important technology firms for the decade ahead. At its core, CrowdStrike is not just a security company. 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How I Discovered MercadoLibre My entry into MercadoLibre (MELI)\u2014Latin America\u2019s dominant e-commerce and fintech ecosystem\u2014came at a time when the world seemed to be standing still. It was April 8, 2020, during the early days of the COVID-19 pandemic. Market chaos was rampant. Volatility was the norm. 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How I Discovered Palantir I was first introduced to Palantir in 2021, shortly after the company went public. At the time, I already had a strong sense of the company\u2019s DNA\u2014having read Zero to One by Peter Thiel, Palantir\u2019s co-founder. 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I tend to focus on high-margin, software-enabled, platform businesses with extreme operational leverage and network effects. Companies like Microsoft, CrowdStrike, or Axon. 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