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.

Alibaba is Cheap, and Altaba Makes it Cheaper

I have been buying shares of Altaba (AABA) over the last couple weeks. Altaba is the leftover stub that used to be Yahoo. It is now basically a holding company that owns stock in Alibaba. The NAV of AABA trades for a sizable discount to their stake in BABA. And even...
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JD Update

Here is a note I sent to my investors just now, and I wanted to share it here with readers. Below is a copy of the note. Dear Investment Partner: I hope you had an enjoyable summer. I wanted to send a brief note with a few comments. One, I took a trip to China over...
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Facebook’s Stadium

Facebook's one day drop on July 27th was impressive.  It marked the largest ever loss of equity value for a U.S. listed company.  However, to achieve such a feat requires a large market cap before such a day, quite an impressive feat on its own.  This feat was only...
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Some Updated Thoughts on Tencent

Yet again, another incredibly mundane title.... but I'll be optimistic when I say let's continue with some (hopefully) more interesting thoughts -- at least interesting to me if no-one else 🙂 Last week, I wrote a post on my trip to China. For those who haven’t read...
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One Foot Hurdles and Berkshire’s Buyback

There was an interesting press release that came out this week at Berkshire Hathaway. I wanted to post some very brief thoughts, but first just a quick introductory comment that might be somewhat related to the topic... I was writing some thoughts for my mid-year...
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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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