3-Bullet Sunday, 9 May 2021
Berkshire's AGM, Margin of Safety, and more!
Hi everyone!
I’m spending most of my time working on my next in-depth research report—Starbucks! Starbucks is a special one because it is my first multi-bagger and the company that converted me from deep value investing to looking at quality compounders.
F&B businesses are easy to understand and it is a land where multi-baggers can be found. In this article, I’m putting in a lot of effort to show you what metrics to look at and how you can analyze the different F&B businesses.
If you haven’t signed up already, lock in a 20% off for the early bird promo by entering “20OFF”*. Enjoy this discount in addition to a one-month free trial!
*The discount will end by 31 May 2021 or after the first 100 subscribers, whichever comes first.
I. My notes from Berkshire Hathaway’s 2021 AGM
As promised from last week, check out my notes from Berkshire’s AGM below!
*The above is a joke, Buffett did not actually say that.
II. Five things I wished I knew before I started investing.
I’d love to stay in touch on LinkedIn, so drop me a message if we haven’t already connected!
III. Seth Klarman’s Margin of Safety
Found this excellent book summary by James Clear!
TL;DR: Avoiding loss should be the primary goal of every investor. The way to avoid loss is by investing with a significant margin of safety. A margin of safety is necessary because valuation is an imprecise art, the future is unpredictable, and investors are human and make mistakes.