I am pleased to tell you that I have partnered with a longtime colleague, James F. Basili, to form a new firm, Lightsail Capital. Lightsail employs the same concentrated investment strategy as Monte Sol, but does so through a single pooled investment fund rather than many separately managed accounts. As part of this transition, Monte … Read more
The Noblest Pursuit
September 2nd, 2016 | Posted by in General | Investing | Uncategorized - (Comments Off)Is what I believe to be true, actually true? This question underpins all science and analysis. But it is a very hard question to answer. Answering it honestly to ourselves proves especially difficult. The difficulty arises from a number of causes. The chief among them is that we never fully comprehend the truth; we only … Read more
I was recently interviewed by the investing website SumZero.com. If you enjoy this blog, you might enjoy the interview as well. On a separate note, I hope to begin writing here more frequently in the coming months. I’m not ready to promise anything, but I’ve made a few investments lately that I want to give the … Read more
The Hidden Signal that Insider Buying Sends
February 4th, 2015 | Posted by in Investing | Uncategorized - (Comments Off)Everybody knows insider buying has positive signaling properties. Executives own gobs of their companies’ stock through options grants, so just about the only reason for an executive to use after-tax salary dollars to buy even more company stock is because he or she believes the stock will go up. The executive could think this for … Read more
Q3 Letter Excerpt: The Monte Sol Investment Process Summarized
November 8th, 2012 | Posted by in Uncategorized - (Comments Off)The goal is to generate the greatest returns possible within the constraint of a portfolio that poses no more than a remote risk of losing money in the long-term. This concept sounds obvious but it is one that many investors gradually forget. Over time most investors drift toward one end of the spectrum or the … Read more
Philosophy Friday: Emerson on Investing
October 26th, 2012 | Posted by in Uncategorized - (Comments Off)To believe your own thought, to believe that what is true for you in your private heart is true for all men – that is genius … There is a time in every man’s education when he arrives at the conviction that envy is ignorance; that imitation is suicide; that he must take himself for … Read more
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