The Phases of an Investment Idea – Lessons From Graham

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The Phases of an Investment Idea – Lessons From Graham

 

Photo Credit: David Warrington

Investing ideas come in many forms:

Massif Capital’s Top Short Bets In The Real Asset Space [Exclisuve]

Screenshot 2022 08 10 18.57.51 1Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, the long/short equity fund has returned 9% per annum net, compared to 6% for the Bloomberg Commodity Index, 3% for the 3 MSCI USA Infrastructure index Read More

  • Factors like Valuation, Sentiment, Momentum, Size, Neglect…
  • New technologies
  • New financing methods and security types
  • Changes in government policies will have effects, cultural change, or other top-down macro ideas
  • New countries to invest in
  • Events where value might be discovered, like recapitalizations, mergers, acquisitions, spinoffs, etc.
  • New asset classes or subclasses
  • Durable competitive advantage of marketing, technology, cultural, or other corporate practices

Now, before an idea is discovered, the economics behind the idea still exist, but the returns happen in a way that no one yet perceives. When an idea is discovered, the discovery might be made public early, or the discoverer might ke