A private record of conviction, tested in public.

I write the research before I buy, and the letter before I forget why. This site is my own capital allocation ledger — the holdings, the reasoning, and the quarterly account of what changed and why.

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Approach

Strong businesses. Overpriced fear.

I look for companies with strong fundamentals trading below fair value because the market has overpriced a specific risk — the opportunity for market-beating returns shows up through earnings growth and multiple expansion once that risk fails to materialize. Most investors are reactive and emotional; that's not a flaw in the market, it's the opportunity it keeps handing to everyone else.

Read the Full Philosophy
7 Active Positions
SPGI Largest Position · 18.4%
4 Sectors Represented
Financials Top Sector · 51.3%
As of August 25, 2026 · Dollar values kept private Full portfolio breakdown →
Latest Research

Notes on the businesses I own.

All Reports
Buy · Initiated UBER

The Disruption That Doesn't Arrive

A high-growth compounder trading at a historically low valuation because the market has priced an autonomous-vehicle disruption I don't believe will land.

Aug 30, 2026 14.6% Position
"I persist in searching for businesses that continue to execute whilst Wall Street panics about minor inconveniences."
01
Fundamentals first, fear second

I look for strong businesses where the market has overpriced a specific, nameable risk — not simply whatever looks statistically cheap.

02
Fair value, not just fresh lows

A name doesn't need to be down 50% to earn a place in the portfolio — trading below fair value is enough to start a position.

Quarterly Discipline

The first letter is next quarter's job.

No letters published yet — this section fills in at the close of the current quarter. Every position above already has the reasoning behind it in the research.

Quarterly Updates