My Long-Term Performance

📈I focus on relentless, long-term, friction-free compounding. Taxes, turnover, and fees are minimized. Capital is concentrated where conviction is highest.

Placeholder names (“Compounder 2”, “Compounder 3”, etc.) are used in free posts, while actual tickers are disclosed to paid subscribers.

I rarely exit positions from my top 10 — only once over the past five years. Returns are earned over time by purchasing high-quality businesses at attractive valuations, typically adding one or two new positions per year. More often than not, these new positions initially sit outside the top 10.

Positions are reviewed and valued regularly, often using proprietary valuation methods. These reviews are routinely shared with paid subscribers. Occasionally, overvalued positions may be trimmed, and undervalued positions added to enhance long-term IRR.

Free samples of my writing are pinned to my Substack website.

Past performance is not indicative of future results.