Value Investing 3.0

We will make rather large contrarian bets based on value investing principles. To do this, we need to carefully consider valuations and business quality, ignore market noise, and concentrate on our analysis. As I understand it, value investing isn't solely about buying cheap stocks with low P/E ratios. It's about paying a fair price relative to the intrinsic value of a business. For this portfolio, we want to buy only stocks that offer a significant discount to their intrinsic value. Potential investments must also have a sustainable competitive advantage, or "moat." This can be demonstrated through pricing power, network effects, stable or improving margins, or a strong brand. While some people think that "moats are lame", we think differently and act accordingly. Management is a crucial factor in a successful company. We seek honest and ethical management teams that communicate effectively with shareholders and prioritize creating value for them. We analyze annual and quarterly reports, listen to earnings calls, and attend other company events. Whenever possible, we also interview management to assess their suitability. We will maintain a concentrated portfolio of the best investment ideas we currently have. We will regularly review these ideas by monitoring company progress and comparing it to our expectations. Our goal is to outperform the market over the long term. We are prepared to withstand short-term market fluctuations and remain focused on fundamentals. We will invest exclusively in long positions and high-quality companies worldwide.