I look for misunderstood companies who’s shares are trading at a discount to their intrinsic value. Situations with forced selling (i.e., spinoffs, S&P 500 reconstitution) are a good place to look for these opportunities. Companies with very little institutional ownership also present opportunities. I believe that investing in companies with high insider ownership aligns management and shareholder interest, which gives an inventive for management to act for the benefit of shareholders.

My influences include Ben Graham, Henry Hazlitt, Seth Klarman, Mike Blitzer, Guy Shannon, and Ian Cassel.

Satellite Portfolio:

  • CLWY
  • SVIN
  • CCUR
  • OSTK

Core Portfolio:

  • SBUX
  • BRK.B
  • GLD