Unconventional Value

Unconventional Value is an outlet for thoughtful research, analysis, and investment ideas targeted at the true long-term business owner

This is a personal but public research journal. I’m searching for great businesses in hiding — companies that lack widespread recognition but are well positioned to grow intrinsic value at a high rate for a long time.

In classical terms, I am more risk-seeking than risk-averse, though by no means do I intend to invest my money foolishly. I’m in my early 20s with a lifetime of earnings ahead, and I subscribe to the notion that how much you win is more important than how often you win. A few great investments held for a long time can carry an entire portfolio; I spend my time looking for those few.

Consistent with my time horizon, next quarter is of little interest to me. My interest lies in a company’s culture, history, branding, strategy, product pipeline, unit economics, secular tailwinds (or headwinds), and how they are likely to impact the future.

I find value in being a generalist and focusing on smaller companies, but there are no limitations on what I write about. Thus far, I’ve covered anything from satellite data to AI lending to Crocs. A few recurring themes are likely to be the commercialization of space, platform business models, and consumer brands.

Most of my thinking (and therefore my writing) revolves around four questions:

• Who runs the business day-to-day?

• For how long can the business grow revenue?

• What do the business economics look like at maturity?

• What is a suitable price to pay?

About the Author

I’m just an ordinary guy with an extraordinary interest in business. I grew up in New Jersey and graduated Fordham University (Bronx, NY) in 2023.

I’m always looking to meet new people, listen to feedback, and learn from others. The best way to reach me is via Twitter.