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.

Banks Are Gushing Cash and Look Cheap

For the first time since the correction in the stock market in February, I am getting interested in a few investment ideas. A few of the ideas are in unexciting companies (unexciting in the sense that they are well-known and have been discussed plenty of times before…...
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Bad Blood and Schrödinger’s Cat

Bad Blood is a great book.  It's a fast read, it's interesting and you should read it.  I want to only discuss one aspect of investing with regards to my takeaways from this book. In November of 2006, Theranos raised money at a valuation of $165m.  Approximately 8...
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The Other Side

“I never allow myself to have an opinion on anything that I don't know the other side's argument better than they do.”— Charlie Munger “We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of...
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The Great Thing About Investing

One of the great things about investing is the passive aspect of owning great businesses: they do a lot of work for you. They are very low maintenance, and their value increases as time goes on. This can be a blessing and a curse for investors. It can also be a...
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The FAA Inspector as an Investor

Imagine you are an airplane inspector for the FAA.  You job is to certify the flight-worthiness of a plane. You check the planes annually and certify that they are flight-worthy until the next inspection.  This particular day you happen to be flying in the plane you...
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Buffett’s Information Advantage: Then vs. Now

When Buffett first started out, he had a true information advantage.  Other investors just didn't know that Sanborn Map had an investment portfolio worth more than the entire market valuation of the company.  This was an incredible opportunity and he took advantage of...
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Update on JPM’s Valuation

JP Morgan reports earnings tomorrow (Friday, 4/13). I read the JPM shareholder letter and annual report earlier this week, and thought I’d share some brief notes on the valuation. Before that, I wanted to mention a couple quick general thoughts… I wrote about a couple...
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Return on Brain Damage

Hidden Figures is a great movie.  It's a great story about women, but also a story about math.  The continual discussion about the endless calculations (note: these calculations are basically done by hand) that go into sending people to the moon is amazing, truly...
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Google: Another Bargain in Plain Sight

It goes without saying that Google is one of the world's greatest companies. It provides a tool that has revolutionized the way that a large swath of the world's population conducts its work and it nearly instantly satisfies our insatiable thirst for knowledge and...
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Leadership and Off The Beaten Path Ideas

I want to write about two quick ideas.  I will keep them brief because I hear something slightly more interesting came out this past Saturday morning.  You can read that here. (Buffett Annual Letter) First, leadership matters.  It's difficult to quantify this idea,...
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