I don't do many things. But the things I do, I aim to be the best in the world at. This has inadvertently affected the businesses I choose to buy and own. I recently read Jim Collins' Good to Great, where he shows how eleven companies managed to go from good to great and the similarities they had between them. I'm not going to spoil the book for you but there's an idea that made me think about the businesses I invest in, the hedgehog concept. It was not the first time I heard

In September 2019, I invested in GameStop. The stock went down 60% in 2020, and I bought more shares. In January 2021, I sold with an average profits of 3,300%. GameStop is the investment of a lifetime. There won't be anything like it again. The reason why it worked was because of the massive risk-reward asymmetry. The company was trading below its net cash value, it had repurchased 35% of shares outstanding in a single quarter with nearly 100% of shares short, and a new cons

An article from The Bureau of Investigative Journalism reveals that Wise has been under investigation by prosecutors in Belgium for non-compliance of half a billion euros of suspicious transactions. This is a definitely a big headline, which caused the stock price to drop over 15% today, the worst day for the stock since the IPO in 2021. Wise has already responded. There are things we need to look at as owners of Wise: The investigation itself The likely outcomes This is spec

Yesterday, I merged my Substack newsletter into this community. One of the main reasons I did that was to lower friction. Friction is the enemy of great business. I alway look to invest in businesses with low friction. And to paraphrase Warren Buffett, "I am a better investor because I am a businessman and a better businessman because I am an investor.” Therefore, for my own business to work, it had to be low friction. One of the places where I lowered friction was in payment