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 investment pitch on Couche Tard at the 2024 Sohn Conference (12-minute video, click image below): This is a well-articulated and concise investment pitch. […]
Timeless Gems
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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. There was an interesting story in the Financial Times this week about a dispute between a family and a private equity firm. The family sold their business, Save Mart […]
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 Winterhalter Gastronom’s vertical specialization strategy: Winterhalter started by manufacturing dishwashing units for every vertical, but then they decided to specialize […]
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 framework for diversification by John Huber of Saber Capital: There are all sorts of frameworks for diversification out there, but this one is […]
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 the advertised acquisition criteria for Berkshire Hathaway and Constellation Software (note the commonality on offering price). Also, some discussion around price discovery. Two main […]
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 Twitter thread on Danaher, its history, and the Danaher Business System. Danaher’s life started with the acquisition of a publicly traded vehicle that had […]
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 1979 article where Buffett discusses smokestack companies and a peculiar interaction with an executive at one such company: Great lessons […]
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 book snippet where the former TransDigm CEO is asked about his recent stock sale by an investor: This is my favorite investor <> […]
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 podcast episode on Richard Rainwater. The Bass Family hired Rainwater in the 70s to help manage their investments (and diversify from their oil interests). […]
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 2016 blog post snippet on Chipotle’s store economics and some discussion around organic reinvestment. Good businesses generate a high ROIC but great businesses […]
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 Twitter thread on the Detroit International Bridge Company, which owns and operates the Ambassador Bridge. I love anomaly businesses like this, true gems. DIB […]
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. I recently read Morgan Housel’s new book Same As Ever. It was a fantastic read, I highly recommend it. He details a framework in the book “short-term pessimistic, […]
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 recap of my 10 favourite gems from 2023. But before we dive into it, I wanted to reflect a bit on this weekly […]
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 my top 3 book picks for 2023. It’s always tough to narrow it down to just 3. But these books stood out well above […]
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. Before we jump into this week’s issue, check out Atlasview Equity’s latest post on The Lindy Effect. We discuss longevity driving resilience and why we optimize for businesses […]
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. As year-end approaches, I do what any sane person does – review my stock portfolio performance. As I look at my portfolio and watchlist, I seem to […]
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 excerpt from a study conducted in 2019 which examined 11m business tax returns: The last sentence is particularly intriguing: A typical firm owned by […]
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 which shows the UFC’s uses of capital from 2005 to 2016 (note the $1.239bn in total shareholder distributions): The Fertitta brothers acquired […]
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. Before we jump into today’s gem, be sure to check out the latest issue of Atlasview Insights, Moats: Prioritizing Defensibility in Investments. Our company newsletter is our outlet […]
Today’s issue is dedicated to Charlie Munger, who unfortunately passed away this week at the age of 99. Munger was a huge inspiration and role model for investors and entrepreneurs all over the world, including yours truly. He stayed intellectually sharp right to the very end. Munger produced a lifetime […]