Ideas

Research on the high-quality companies that are on our watchlist as well as actionable ideas as they develop.

Investment Journal

A database filled with our day-to-day notes on the investment ideas that we are currently working on.

Education

An expansive library of learning materials involving investment theory, case studies and a Buffett Letters series.

Watchlists

A look at our watchlists including our favorite businesses as well as special situations that we track.

Taking on Kong (and His Brother)

“The stock market is a device for transferring money from the impatient to the patient.”  Buffett Doing research on a company that appears to be vastly more expensive than you would pay for it and then waiting might be one of the hardest things in investing.  Both...
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New York REIT: A Special Situation or an Time Opportunity Cost?

Matt has recently talked about the dubious value of looking at lots of special situations. I whole-heartedly agree, and my research I’ve done on New York REIT (NYRT) confirms why I think he’s right: the best investments are usually the great operating businesses that...
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Infected, Albeit Briefly, with Special Situationitis

Accretive Health (recently changed its name to R1, stock symbol ACHI) is a revenue cycle management company that was de-listed from the stock exchange a few years back and is preparing to come back to the NASDAQ and play with the grown-ups again. I had originally...
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Special Situationitis

There is a disease in the value investing community.  It can be deadly to your investment returns.  We have identified Patient Zero, however, there is no known vaccine and given the recent crackdown on pharmaceutical prices, we do not think a suitable one will be...
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O’Reilly and the Retail Auto Parts Business

This post is just an outline on why I like the business, and why it’s on our watchlist. Here are some things to like about O’Reilly: High returns on capital Durable, recession-proof business Steady and predictable free cash flow Big lead in commercial (“DIFM”)...
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1/4 Rotation Around the Sun…..

You can read our earlier discussions of Taro here and here. Taro reported their quarterly results a few weeks back.  If I had to write three to five pages on their earnings results, I might tell a few stories to take up the first four pages.  There just is not that...
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Sniffing out Special Situations: Bad Dog…..

We have a dog.  He sniffs a lot.  I don’t know what he is looking for.  He knows where his food is, why does he spend so much time sniffing?  Sometimes I feel like my dog, sniffing a lot when it is pretty obvious where the food is (great businesses at good prices in...
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Boring Monopoly Still a Boring Monopoly: VRSN Update

VRSN Earnings Update: 2/10/17: No news is good news with most companies and Verisign (VRSN) is no different.  There is no real news this quarter.  As we first discussed, Verisign is a solid single, in baseball parlance, that has potential to turn into a double,...
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The Most Important Thing (In Retail Apparel)

Matt and I have talked about ways to improve this site and try to add more value for members. One of the things we’ve always talked about internally is publishing more “investment journal” type posts. While we have a category called investment journal, we haven’t...
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7 Habits of Highly….Snooze…..

It’s early morning and your head is killing you.  No caffeine….it’s a painful reminder of your addiction.  You should stop, but you probably won’t.   At least once a week, I will head to the grocery store around 11 p.m. because my wife wants chocolate, that’s demand...
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