Why I think MELI is a great business. (that should continue to compound capital) trading at a fair price!

In our latest deep dive, we look at why the "Amazon of the South" serves as a masterclass in building an impenetrable economic moat. Here are the key points on MercadoLibre (MELI): - Massive Runway: With regional e-commerce penetration at only 15%, the structural growth phase is still in its early innings. - The Logistics Moat: Proprietary shipping networks have turned delivery speed into a formidable barrier to entry for global competitors. - Banking the Unbanked: By providing credit to the underserved, their fintech arm is evolving from a payment tool into a primary financial ecosystem. - Data Advantage: Real-time marketplace data allows for more precise lending and risk assessment than traditional banking models. - Infrastructure Monetization: The transition from subsidizing growth to charging for fulfillment is shifting the business into a high-margin phase. Based on extremely conservative worst-case assumptions I estimate MELI's intrinsic value to be $2,450 per share (based on the NYSE listed shares), and under a more likely baseline scenarios, my estimate of intrinsic value is $3,170 a share. This provides a fairly decent margin of safety. For the full analysis: https://open.substack.com/pub/mulberryfinancial/p/the-amazon-of-the-south-a-capital?utm_source=share&utm_medium=android&r=4af6n2