Investment Philosophy
“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” — Albert Einstein
I believe in the power of compounding effect—the exponential growth over time that comes from letting returns be reinvested, letting time do its work. It’s not the speed of returns that matters most, but the duration and consistency.
I traverse multiple stages of investing—from venture/angel, through private equity, to public markets—always guided by these same principles below. I study deeply. I move only when I see defenseable value, aligned leadership, and sustainable growth. I stay quiet when the edge isn’t there, and strike decisively when opportunity emerges.
Time Machine Strategy
I adopt a “time machine” mindset: I imagine if I could go back 5-10 years, would I have picked this business? More than that, I assess whether a business model that has succeeded in one country or market has the ingredients to be repeated in others. I look for paradigm shifts, global megatrends, and models with universal demand. If the conditions—regulatory, cultural, infrastructure—are analogous, I consider replicability a strong edge. I am willing to tolerate early friction, adapt locally, and stay patient through the build-out.
Fractional Ownership
I believe that buying a share of stock is more than a paper transaction: it is acquiring ownership in a business—its assets, cash flows, future potential. Every equity investment is a piece of real enterprise, not just a number on a screen.
Mr. Market
I see “Mr. Market” (à la Benjamin Graham) as an ever-changing provider of price quotes—sometimes irrationally pessimistic, sometimes overly optimistic. I don’t let his moods dictate maction; I wait for his mispricings to align with my analysis before stepping in.
Margin of Safety
I demand a margin of safety—a gap between what I believe a company is truly worth (conservatively estimated) and the price I pay. This buffer protects me from errors, volatility, and the whims of market sentiment.
Circle of Competence
I invest only in domains I deeply understand: whether it’s certain industries, business models, or markets. I reject investment outside this circle no matter how alluring the story, because uncertainty outside the circle dilutes edge.
Patience Over Action
I adhere to Charlie Munger’s insight:
“The big money is not in the buying or the selling, but in the waiting.”
I am ready to hold through cycles, let value mature, and avoid short-term speculation. True compounding demands time and discipline.
High-Conviction Concentration
I don’t believe in over-diversification. I believe in placing meaningful bets—allocating capital where conviction is strongest. I “put all my eggs in as few baskets as I can and watch those baskets closely,” rather than spreading thin.