Saber Capital Management

Saber Capital Annual Investor Letter

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Here is Saber Capital’s annual letter that I sent to my investors last week: Saber Capital 2017 Review If you’d like to get on Saber’s email distribution list, you can do so here. Some of the letters and write-ups I send to clients get posted here as well. This email list will receive some of the writing that I send out to my investors, usually one or two pieces of commentary every few months. Thanks for reading! John Huber is the […]

Investment Philosophy

Saber Capital Discussion with Googlers

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In late January, I had the great experience of visiting Google in Mountain View, California, where I had the chance to do meet with some Google employees to discuss investing (here are the slides from the talk). The timing was fortunate, as it was my good friend Saurabh Madaan’s last week as a Googler. In addition to his post as a senior data scientist at Google, the value investing community knows him for his side gig: hosting the Investing Talks […]

General Thoughts

Some Comments on Saber Capital’s Investment Approach

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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

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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

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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

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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 […]

Investment Philosophy

Saber Capital 2016 Investor Letter

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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?

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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

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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

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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 […]