The Hunt
How to hunt multibaggers
The biggest winners start small, unloved, and uncovered. This is how serious investors think about finding them, and how to get the most out of our research. Knowledge is the edge. Here is ours, in plain language.
Start here
How the legends found their winners
Buffett read Moody's manuals page by page. The hunt used to take a lifetime. Now it takes a few clicks.
ReadThe six dimensions, and what each really tells you
The six lenses we read every business through, and what a serious investor hunts for in each.
ReadWhy we don't talk price (and why that helps you)
We find WHAT to buy. WHEN to buy it is your call, and that is by design.
ReadHow to actually use these lists
Screens and research, not a buy button. Here is how to turn them into an edge.
ReadWhat makes a great business
What actually makes a moat
The handful of edges that keep competitors out, and how to tell a real one from a story.
ReadAsset-light vs scale economics: the two engines
The two kinds of business our screen hunts for, and why they compound in completely different ways.
ReadWhy we hunt multibaggers
Find the great business while it is still small, then let the math do the rest.
ReadHeadline growth lies, read per-share
Revenue can soar while your slice of the company shrinks. Per-share growth is the real test.
ReadCash isn't always king
A pile of idle cash earning poor returns is dead money. Cash plus high returns is a fortress.
ReadThe hunter's edge
The chart is not the business
A stock down 60% can be a great company on sale. A stock up 10x can be a flat business that re-rated.
ReadSize is physics
A 200 billion dollar company effectively cannot 100x. The giant winners all started small.
ReadHow big is the dream?
A niche monopoly can be a wonderful 10x and an impossible 100x. The opportunity caps the outcome.
ReadA few winners pay for everything
The math of asymmetry: one true multibagger can outweigh a basket of misses. Your job is to find it.
ReadWhen great businesses are terrible bets
Cyclicals at peak margins, single-customer dependence, story stocks with no revenue. Knowing the traps.
ReadResearch where no one's looking
The best opportunities are the least followed. Our edge is the global small-caps nobody covers.
ReadEducational content, not investment advice. We evaluate businesses, not prices.