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.

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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Apple’s Key Competitive Advantage

We can’t compete head to head with Apple. There is a branding issue: Apple is premium…” –a high-level source at Lab126, Amazon’s code name for its Fire Phone project The above quote is taken from an excellent Fast Company article which I’d encourage you to read. It is...
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Berkshire Hathaway 1980 Letter: A GEICO Turnaround Case Study

One of the main themes of the 1980 letter was the same message of the 1979 letter: inflation is a corporate tapeworm that eats away at intrinsic value. I think Buffett’s comments on inflation are interesting because they don’t match up with how many economists and...
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Bank Valuations: Some Updated Thoughts

I just realized that the titles of my posts are not nearly as catchy as Matt's.... In fact, my wife said they are boring. I'll work on that. I've always felt the titles were explanatory, but apparently they lack the pizzazz that some readers desire (or, as I would...
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Can You Guess How Much I Weigh?

“You don’t have to know a man’s exact weight to know that he’s fat.” – Ben Graham With this particular company, it is certainly tough to know exactly how much it is worth, but I have enough confidence to know that it is undervalued.  We did, however, want to get a...
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Hamilton is Non-Stop

Even though we started at the very same time Alexander Hamilton began to climb How to account for his rise to the top? Man, the man is Non-stop My daughter’s favorite Broadway play is Hamilton, but with prices around $600 per ticket (that’s not a typo), the soundtrack...
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Great Operating Business (check), Attractive Valuation (check), Catalyst (check)

Potentially the worst title ever (check). “I would have written a shorter letter, but I did not have the time.” Pascal Most people dismiss brief ideas out of hand. Charlie479 did a write up on VIC of NVR in 2001 that clocked in at 873 words.  The return since then is...
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