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Category: Uncategorized

Corona dislocation and alpha potential

Posted On April 12, 2020
In general, I've tried not to think much about macro over the past few years. I much preferred to think about micro (company specific) ideas. Obviously, Corona has thrown a lot of that into question: for a lot of companies, whether they're investable or not depends on how long the economic shutdown lasts. As an […]

Buffett and airlines $BRK $DAL $UAL $LUV

Posted On April 7, 2020
Over the weekend, Berkshire filed a filed forms that showed them blowing out of their positions in Southwest and Delta. It was a pretty surprising move: Berkshire had been buying pretty aggressively as recently as a month ago, Buffett had been singing the airlines praises pretty consistently for the past few years, and Buffett had […]

Announcing Yet Another Value Blog Premium

Posted On April 6, 2020
I am excited to share that I am launching a premium (read: paid) version of Yet Another Value Blog. If you're interested, you can check it out here.

Commercial rent payments questions

Posted On April 3, 2020
One of the places I've been spending the most time thinking about and looking at is anything connected to commercial real estate (I mentioned some thoughts on malls here and I've covered some distressed prefs too). There's never been a dislocation like today's, with huge swatchs of the economy forced to close and all sorts […]

Non-April Fools' post: some "shower thoughts" on the post-Corona investing environment

Posted On April 1, 2020
My wife and I have a joke about something we call "shower thoughts." Shower thoughts are thoughts that have some combination of complexity, deepness, and quirkiness; for example, yesterday her shower thought was "People under house arrest must feel so lucky right now; it's not even a punishment since it's what they'd have to do […]

Preferred dislocation opportunity example: $BPYPP

Posted On March 23, 2020
I mentioned on twitter that I was seeing a lot of dislocations in preferred stocks. The tweet got a lot of engagement, so I wanted to expand on it a little bit with an example here.

Wrestling with $WWE

Posted On February 18, 2020
As a whole, this blog is meant to cover anything that's interesting to me in investing. Sometimes that means just general investing theory and thoughts (like the "monthly pondering" I post in each month's links post), but in general that means specific investing ideas and themes. And, over the life of this blog, no investing […]

Excerpts from our 2019 annual letter

Posted On January 28, 2020
Below is an excerpt from our 2019 annual letter (I posted excerpts from our 2018 letter last year here). I have removed two sections about the portfolio and position sizing due to #compliance, but you can always contact my colleague Rob (his email is [email protected]) if you’re interested in seeing the whole letter or learning […]

Three grumpy thoughts from a jet lagged investor

Posted On January 2, 2020
First, happy new year. I got back yesterday from my honeymoon; we went to Tokyo and all across Vietnam. It was a blast. I highly recommend Vietnam in particular and would be happy to give recommendations offline.

Plagiarism and Adding Value

Posted On July 18, 2018
Recently I had been nursing two ideas that I thought were really unique / interesting: In my June links post, I included this bullet: “SKAM the radical teen drama that unfolds one post at a time: can’t believe it’s taken this long for people to really experiment with incorporating social into “tv shows” / entertainment.” […]
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