The Sloth Investor

Mr. Sloth believes in finding a few great companies, and then sit on your ass. Mr. Sloth's favorite holding period is forever.

[Hedgeye @Hedgeye]

Priced in gold, the S&P 500 is down roughly 70% from its 2000 peak.

[The Crude Chronicles 🛢 @crudechronicle]

Very, very cool long term time series on interest rates going back several hundred years from the BoE.
Bravo!

[Kaji Katlu @kajikatlu]

Investors believed factories and physical assets were the best inflation hedge.
They had it backwards.
Asset-light businesses with strong franchises keep most of their earnings. Asset-heavy ones must reinvest constantly just to stay in place.

— Warren Buffett (1983 letter)

[Pierre @PHfloor]

If you purchased a condo in Montreal in 2005, you are now outperforming your friends in Toronto who did the same.

But there was a 20+ year period when the Montrealer was envying Toronto's relative outperformance.

What happened here?

[Jussi Askola, CFA @askjussi]

Global REIT valuations are at an all-time low relative to equities - even lower than during the Great Financial Crisis

[Earth @earthcurated]

🪵Fun Fact: Wood is one of the rarest materials in the universe, known to exist only on Earth.

[Finding Compounders @F_Compounders]

“In some markets, no one make out. In others, everyone does”

Charlie Munger

[My Value Picks @myvaluepicks]

This can be a very aggressive portfolio for many investors.

The 90/10 rule is a model for investors who can tolerate volatility and have long term horizons (10+ years).

[Canadian Dividend Investing @CDInewsletter]

BMV Group $BOLSA.MX

- Operates Mexico's only stock exchange
- Zero debt, large cash position (~20% of market cap)
- 20%+ ROE & ROIC
- Increase from 3M to 25M retail investment accounts in Mexico
- Repurchasing shares
- Trades at 12x 2026 EPS
- 6% dividend, 70% payout ratio

[David Perlmutter @Muzzlebuster]

Bill Ackman (All-In Podcast interview):

“Look, when you're a concentrated investor, or investor generally, and you're a long-term investor, the most important and most challenging thing to do is determine what's the risk of disruption.”

Suppose you make 20 or 30 real long-term bets over the course of your investing lifetime. If you are successful in making sure that your potential downside over the long-term for every one of them is either nothing or very small, what are you left with?

What you have is a collection of bets where all that's left is potential upside. Maybe some work out very well, and maybe some don't. But your starting point is one where you won't lose money. That's an extremely constructive starting point.

Spend 85% of your research time thinking about the downside. Moat, competition, runway, valuation, disruption, risk of the business model itself, the balance sheet. Spend almost all of your time on these things.

[Barchart @Barchart]

Chipotle Mexican Grill $CMG falls to its lowest price in 3.5 years 📉📉 Don't mess with my Guacamole 🫵🥑

[Charlie Bilello @charliebilello]

The world always feels chaotic in real time.

The stock market only looks resilient in hindsight.

[Gary Bohm @GaryBohm5]

BERKSHIRE HATHAWAY'S VERDICT ON THE CONSUMER: 16 Full Exits, Zero Exceptions & What the Sell List Tells Us About the Consumer Meltdown and the Policy Response That Follows! https://t.co/RzMqRPERQJ

[Dividendology @dividendology]

Buffett's big buys and the price he paid:

[Alan Gałecki – Financial-Engineering.net @Fin_Eng_Net]

The latest quarterly results from my pick showed broad-based growth across all key metrics — and meaningful market share gains in dollars and volumes.

Management has cleaned up the balance sheet and is in a position to restart aggressive share buybacks soon — while the rest of the sector is forced to protect dividends they realistically should cut.

[Andy @evfcfaddict]

I don`t know why Fundsmith initially invested in
$OTIS but selling the shares at these prices/valuation doesn`t make a lot of sense with service revs and fcf highly likely moving up HSD going forward?!

[Negligible Capital @negligible_cap]

*BERKSHIRE TO ACQUIRE TAYLOR MORRISON FOR $72.50 A SHARE IN CASH

First $BRK.B acquisition in forever - buying $TMHC for $8.5B all in, or $72.5 / share all cash

[The Economic LongWave @TheELongWave]

The Next Economic Disasters...Australia And Canada.

When a society confuses debt-fueled asset inflation with genuine wealth creation.

[Barchart @Barchart]

JUST IN 🚨: Stock Market Shiller PE Ratio on the verge of taking out its Dot Com Bubble all-time high 🚨🤯👀

[Three-Legged Stool @valiovalentino]

Most investors are aware of Akre's home run with American Tower.

In 2002, he bought $AMT shares as low as $0.79 per share. These shares were worth close to 50x their cost within only 5 years and close to 100x within a decade.

But Akre didn't start buying $AMT in 2002. He started in 1998, buying shares at a cost basis of $22. This means that $AMT plunged 98% between 98 and 02.

Both the $0.79 and $22 purchases would beat the S&P over a long period of time.

Investing is fascinating.