Strategic Concentration in Value Investing

This chapter explores the strategy of concentrating investments for greater impact, focusing on criteria for selecting top investments and the importance of valuing business durability. It also discusses the evolving capital expenditures of major tech companies and how these trends affect returns and shareholder value amidst fluctuating market conditions.

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Episode notes

On today’s episode, Clay is joined by John Huber to discuss value investing fundamentals and the current market conditions.

John Huber is the Managing Partner of Saber Capital Management, LLC. Saber manages separate accounts as well as a partnership modeled after the original Buffett Partnership fee structure.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro

01:44 - What John would include in his own personal MBA program

07:50 - What base hit investing is.

09:01 - The three sources of returns for a stock.

14:40 - Why Costco’s stock may be in a bubble.

20:39 - The three types of companies that John looks to invest in.

32:21 - John’s view on today’s current market and where he is finding opportunities.

42:57 - How John manages highly concentrated positions in his fund.

47:09 - Why investing has a long feedback loop in assessing decisions.

54:16 - John’s process for writing out his investment thesis.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.
Check out Saber Capital Management.
John Huber’s blog: Base Hit Investing.
Check out Journalytic.
Related Episode: MI165: Is FAANG the New Value w/ John Huber | YouTube Video.
Follow John on Twitter.
Follow Clay on Twitter.
Check out all the books mentioned and discussed in our podcast episodes here.
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