Will Spotify (SPOT) be able to generate over 20% annual free cash flow growth?
Polen Capital, an investment management firm, released its Q4 2025 investor letter on “Polen Global Growth Strategy.” A copy of the letter can be downloaded here. The fourth quarter of 2025 seemed to be the full year. The stock market experienced a severe 5% sell-off in the fourth quarter, but quickly recovered to all-time highs,…