COMMENTARY JULY 2026
Qube's Commentary is a collection of insightful articles written by our team. Showcasing what’s on our mind.
Inside, you'll find...
THE QUBE CODE: GUIDING PRINCIPLES
“Every great hero operates by a code. Not a rulebook handed down from above, but convictions forged through experience and held firm under pressure. That code is what separates those who endure from those who do not.”
REVISITING THE FIRST DECISION IN OUR RESEARCH PROCESS
“A first glance through a restaurant window. A quick scan of a book’s inside flap. These small filters decide where the evening goes, or what we read for the next two weeks, long before any considered choice is made.
Our research process at Qube has a similar decision at its beginning. We have to decide which companies are worth looking at in the first place.”
ELEVEN BOWLS POURED
“Anyone who has ever asked me for a dinner recommendation learns quickly that few things in this world make me tick like a good bowl of ramen. So some months ago, longing to relive my trip to Japan last April, I sat down to watch a documentary about a ramen shop. It’s proprietor, a man named Iida Shota, and his apprentices wake before sunrise to face one humble, almost Sisyphean task: to go on making the best bowl of ramen.”
RETIREMENT ROULETTE
“Stanislaw Ulam wondered, rather than solving a complex probability through brute-force mathematics, what if you simply ran the experiment hundreds of times and observed the outcomes? The resulting method became the Monte Carlo method.”
A DRUG THAT SHRINKS WAISTLINES AND GROWS A BUSINESS
“Every once in a while, a medication comes along that changes how doctors think about an entire disease. That is what Eli Lilly has done with obesity and type 2 diabetes.
Lilly’s two flagship drugs — Mounjaro and Zepbound — work the same way, but are approved for different purposes.”
LEAVE LUCK TO HEAVEN
“Strangers used to huddle around arcade machines, taking turns hacking at the joystick while cheering each other on. After them came families crowded into living rooms amid the chaos of wrapping paper, kids tugging and twisting on their controllers, fighting for their fates in a round of Mario Party. Now there’s a new generation battling on the Switch 2.”
QUBE INSIGHTS: EQUITY RESEARCH TRAFFIC LIGHTS
We believe in transparency. At the back of every Commentary, you’ll find our traffic lights. They indicate which companies are held in our Kaleo portfolios, which are not, which we would consider buying, and which we would consider selling.