Blog

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this NYT article from 1999 on the Patel Motel Cartel. It details the backstory of how Indian families came to dominate the hospitality […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Sponsored by Atlasview Equity​ We want to buy businesses worth $10 million or more before December 31, 2022. If you’re considering selling your business, find out why […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Sponsored by Atlasview Equity​ Atlasview is an investment firm built for founders. If you’re considering selling your business, find out why Atlasview is the ideal capital […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this 2018 article titled “How A Mysterious Tech Billionaire Created Two Fortunes—And A Global Software Sweatshop” If you’re not a software investor, you’ve probably […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this snippet from a sell-side report showcasing Constellation Software’s nonexistent equity dilution: It’s funny that the RBC analysts decided to include this […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this list of 25 books on distressed M&A and LBOs from Jeff Sands (highly recommend giving him a follow): All businesses go through periods […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this anecdote where Stanley Druckenmiller recalls his GBP short pitch to George Soros: For those unfamiliar, Soros/Druck famously shorted the British Pound […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is the story of how Harry Macklowe (in his 70s at the time) bought 7 buildings for $7bn using a 0.7% down payment […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this chart displaying 2 scenarios of 20-yr investment performance: It’s the old “luck vs skill” debate. Uncomfortable truth, but luck plays a […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this list of 5 principles on running an investment firm by Chase Coleman (founder of Tiger Global): I don’t have too much […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is a book excerpt describing a board meeting with Carl Icahn. Classic Icahn is famous for being tough on CEOs and holding board […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this table which outlines 3 different scenarios where $1m is invested, and a 19% IRR (internal rate of return) is generated. Despite […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this diagram which outlines the capital allocation strategy for RCI Hospitality (strip club operator). RCI Hospitality is a publicly traded (NASDAQ:RICK) operator […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this quote from Phil Fisher’s book, Common Stocks and Uncommon Profits, on scuttlebutt research. I read this book over a decade ago […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this chart showing the cumulative returns that SoftBank’s ~$130bn Vision Funds have generated (112bn JPY = $840m). $840m is roughly 0.6% cumulative […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gem is this chart showing the level of return and length of time required to achieve a 100 bagger ($10,000 –> $1,000,000). This chart […]

NOTE: this was a past issue of my weekly newsletter, Timeless Gems. Join my free mailing list so you don’t miss out on future issues. Today’s gems are these podcast interview excerpts with Nick Howley, CEO of TransDigm (a niche aircraft component manufacturer). I know what you’re thinking…. another Transdigm […]