General Thoughts

Some Comments on Saber Capital’s Investment Approach

Posted on

I did an interview that was published on Forbes’ website last week. For readers who have some spare time this week in between your Thanksgiving prep-work and travel plans, feel free to give it a read. In the interview, we talk about my general approach to investing, some thoughts on a few companies including one of my investments (Tencent Holdings), as well as some opinions on active vs. passive investing. I mention in the interview that my approach could be […]

Investment Philosophy

Saber Capital Investor Letter – 2017 Mid-year Update

Posted on

I recently wrote my mid-year investor letter to my clients at Saber Capital Management. I thought I’d share that letter with readers, since I posted it to my firm’s website. If you’re interested, you can view the letter here (it is also embedded below): Saber Capital Investor Letter – 2017 Mid-year Update If you’re interested in receiving future Saber Capital investor letters, you can get on Saber’s email distribution list using the form on the sidebar of our website: Saber […]

Investment Ideas & Company Research

One of the World’s Widest Moats

Posted on

A year ago today, I wrote a short post on a company called Tencent Holdings (TCEHY), a dominant internet company in China and its ubiquitous crown jewel of an app platform called WeChat. I began studying that company for a few months, and last fall I bought some shares for the first time, adding some more shares in December. The stock has risen this year, but still offers significant value in my opinion, and I plan to hold my shares […]

General Thoughts

The Most Important Moat

Posted on

I recently wrote an investor note on some thoughts I have on customer value, and why I think it’s important when analyzing businesses. I thought I’d share that letter here: Saber Capital Investor Note: “Most Important Moat” (6/13/2017) In the note, I outline why I think that when you’re evaluating the durability of a company’s moat, it’s critically important to consider the value of a company’s product from the customer’s perspective. It’s a concept I’ve been thinking about for the last […]

Charlie Munger

Berkshire Meeting Notes – Daily Improvement, Business Evolution, and Investment Strategy

Posted on

Last week I headed to Omaha to attend Berkshire Hathaway’s annual meeting. Nowadays, there is less of a reason to attend the meeting in person because it is available to watch online, but I love attending the event for all of the peripheral meetings that occur. It was a great weekend, and I got to connect with a few Saber Capital clients, as well as some good friends that I don’t see very often. No matter how long you’ve been […]

Investment Philosophy

Saber Capital 2016 Investor Letter

Posted on

I recently wrote my annual investor letter to my clients at Saber Capital Management. I thought I’d share that letter with readers, since I posted it to my firm’s website. If you’re interested, you can view the letter here: Saber Capital Investor Letter – 2016 Review I am also in the process of updating my firm’s website. This page will occasionally be updated with investor letters and other write-ups, notes, and commentary: Saber Capital Letters and Commentary If you’re interested in […]

Industry-Banks

What is Your Edge?

Posted on

A couple months ago I read an investment write-up on a large-cap stock that is one of the most widely followed and largest companies in the S&P 500. There was a comment that basically asked the following question: “What is your edge with this stock?” The implication of this question is that there isn’t any edge to be had with large, well-followed stocks, but there is an edge to be gained with small, underfollowed stocks. This is a commonly held […]

Investor Letters

Saber Capital Investor Note – Thoughts on the Election

Posted on

I wrote a note to my clients last week regarding my general thoughts on the presidential election, some broader historical reference points, as well as how I tend to think about these major political and macro-oriented events from my perch as an investor in stocks at Saber Capital Management. I spend most of my free time doing the same thing I do when I’m working: reading and thinking about businesses and possible investments. But I keep tabs on sports and […]

General Thoughts

Thank You to Readers, Clients, Other Investors for a Great 2013

Posted on

I’ve really enjoyed writing this blog over the past year. I didn’t expect all of the great things that have since occurred when I started writing this blog just over a year ago. I started the blog as an outlet for my own thoughts and ideas on investing, but really had no idea where it would go. The launch of Base Hit Investing coincided with the beginnings of my investment management firm Saber Capital Management, LLC. I’ve since had the […]

General Thoughts

Quick Update, Recollection of Goals, and Reminder

Posted on

To those who follow my blog, thanks for reading. I’ve enjoyed writing ideas down, and the feedback/comments/email correspondence/advice, etc… has been outstanding. I don’t spend a lot of time talking about my business, because I prefer that the blog remains a free source of information and ideas on for individual investors. Lots of good things have happened so far at Saber Capital Management, which is the company I formed to manage outside capital, and that remains my top business priority. But […]