Tom Plumb shares his insights on payment and online companies. He likes their embedded, competitive advantage and need to innovate and grow.

Please note: Tom Plumb’s interview starts at 06:29.

Opinions expressed are those of the author or Plumb Funds and are subject to change, are not intended to be a forecast of future events, a guarantee of future results, nor investment advice. References to other mutual funds should not be interpreted as an offer of these securities.

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Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1-866-987-7888 or visiting www.plumbfunds.com.

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Fund holdings are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Definitions of terms

Cash flow measures the cash generating capability of a company, calculated by subtracting total liabilities from total assets.

Free Cash Flow (FCF) is a measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents the cash that a company is able to generate after laying out the money required to maintain or expand its asset base.