Author: Imran Siddiqui
-
From great business to great investment
The Quality Series · part 3 of 13 Why does linearity matter? Because it is the first link in a chain. A great business and a great investment are not the same thing, and the journey from one to the other has five links. I think about them in this order. Linearity. A world-class business…
-
Same five years, very different businesses
The Quality Series · part 2 of 13 Here is a comparison I keep coming back to. Two companies each take their free cash flow per share from one to two over five years. Same starting point, same end point, same growth on paper. The first gets there steadily, a little more each year. The…
-
The whole idea, in one line
The Quality Series · part 1 of 13 People sometimes ask me, usually over dinner, what I actually do. The honest answer fits in one line: own shares in a small number of the finest businesses in the world, refuse to overpay for them, and have the patience to let compounding do the work. Each…
-
The Most Patient Capital in the World
A sovereign wealth fund is structurally the closest thing on earth to Berkshire Hathaway — permanent capital, no redemptions, a generational horizon. So why does almost none of that capital behave that way?
-
It’s Quantitative. It’s Easing. Call It What You Want.
2:35pm, February 5, 2026. Fifty-four views. “Financialisation of the economy (impact on the economy of the wealth effect created by inflating asset prices), kicking the can down the road (no political appetite to curtail fiscal largesse) and killing price discovery (repression via QE) are the main culprits and until they’re addressed meaningfully this vicious downward…
-
Bits & Pieces
Price matters. Compounded returns are significantly affected by starting valuations. Chuck Akre Tencent’s Wide Moat – Presentation by John Huber (Saber Capital) at the Manual of Ideas Wide Moat Investing Summithttp://sabercapitalmgt.com/wp-content/uploads/2013/03/Tencents-Wide-Moat-Manual-of-Ideas-2017.pdf The Difference Between Intelligent Fanatics and Outsiders by Ian Casselhttp://bit.ly/30ptwTj BMW Takes on VW and Tesla With $36,400 Electric Mini Cooperhttps://bloom.bg/2NGoTml Doc-lite: The New…
-
Bits & Pieces – Anatomy of a 350 Bagger (See Below)
The speed at which a business’s success is recognized, furthermore, is not that important as long as the company’s intrinsic value is increasing at a satisfactory rate. In fact, delayed recognition can be an advantage: It may give us the chance to buy more of a good thing at a bargain price. Warren Buffett But,…
-
Bits & Pieces
“Indeed if you aren’t certain that you understand and can value your business far better than Mr. Market, you don’t belong in the game. As they say in poker, “If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy.” Warren Buffett “Generally speaking, I think if…
-
How I incorporate macro factors in my investing strategy
What’s the fuss with macro? I am certainly not an advocate of market timing and I agree with the notion that trying to profit from timing market peaks and bottoms is a fool’s errand. As Buffett says Macro is important but unknowable so focus on the knowable i.e. focus on company fundamentals for the businesses…