I run a small private investment firm but like writing these investment articles mainly to help organize my thinking/research (and interact with other investors).
“Twenty Punch Investments” is more a catchy title than a strict framework. Smaller investors have tens of thousands of stocks available to them globally, and extensive research should surface a handful of attractive ideas each year. The twenty punches on a punch card investment concept is likely limiting for anyone willing to put a full-time effort into the research.
As Ted Weschler once noted about his early career, he made 20 investments and 19 worked out well. That philosophy resonates more with me. I aim for a high success rate, focusing on investments where the probability of a favorable outcome is very high. In baseball terms, I’m aiming for a high on-base percentage rather than swinging for grand slams.
Other than that, my investment style is not unique, in that I am a value investor, investing in a concentrated manner (typically ~10 positions + a few special situations). I typically concentrate my larger investments in a few industries that I think I know really well. Although if a glaring cheap opportunity comes along, I’m more than willing to invest - net-net investment typically fall under this category.
Given the concentrated nature of my investing, posting frequency might be inconsistent. I don’t write up every idea but I plan to publish more going forward. Regardless, the focus will remain on quality over quantity.
Disclaimer: I might hold shares for any securities mentioned on this site for myself and/or others. I may buy more or sell my positions at any time. Please do your own due diligence before making any investment. None of my posts are investment advice. All posts are for educational purposes only. For full disclaimer, please click here. Feel free to contact me - I can be reached on this site or via my firm’s website here.
