SRR Portfolio

Portfolio Annual Report 2026:
share the performance of my portfolio.

[SRR Portfolio @SRRPortfolio]

SRR Portfolio Annual Report 2025
https://t.co/AJgLlUnONu

[MastersInvest.com @mastersinvest]

'In life, business, art, and investing, sometimes you must risk who you are for what you can be.

The same goes for stock picking.

Inside every stock picker is a better stock picker.

Keep evolving.'

- Ian Cassel

Enjoyed this...

[SRR Portfolio @SRRPortfolio]

Added more to $TOI.V and $LMN.V today!

[Ian Cassel @iancassel]

The most underrated skill in investing isn't finding great stocks. It's being willing to change how you find them, where to find them, and how you value them and invest in them.

This is my favorite piece I've written this year on evolving as an investor. 👇👇

[Giuliano @Giuliano_Mana]

Good capital allocators will buy stock in their own personal account only when they think the busines is really undervalued. This is increasingly more true the more hands-on they are, which is directly correlated with the business’s size.

[Ian Cassel @iancassel]

You can learn a bit about stock picking from books and other people’s experiences, but they are no substitute for learning by doing. 95% of successful investing is controlling your emotions when your own money is on the line. It's why paper trading-investing is almost useless.

[Excess Returns @excessreturnpod]

"That's a legitimate reason to alter the size of the bet."

A stock hasn't hit your position limit. Why might you still trim it?

Robert Hagstrom on the difference between a bigger position and a smaller margin of safety.

[SRR Portfolio @SRRPortfolio]

Wrote some thougts about it on substack..
https://t.co/blUOMZ2ntt

[SRR Portfolio @SRRPortfolio]

Just finished this episode of @excessreturnpod with @RobertGHagstrom and Chris Davis! So good as always!

https://t.co/iBzXfviDC5

[Rene Sellmann @ReneSellmann]

“You’ll make more money in the end with good ethics than bad.” – Charlie Munger

A timeless reminder from this 2001 profile:

High standards aren't just a moral choice; they are a long-term competitive advantage.

While others look for shortcuts, the greats look for character.

[Money Wisdom @MoneyWisdom_]

“Formal education will make you a living. Self-education will make you a fortune.”

— Jim Rohn

[SRR Portfolio @SRRPortfolio]

@long_equity $QLYS and $CSU.TO… nice work btw!

[Thomas Chua @SteadyCompound]

Take care of the downside and the upside will take care of itself.

“I don’t buy more of the ones I can make the most money on. I buy more of the ones that I can’t lose money on.”

Joel Greenblatt in Richer, Wiser, Happier.

[SRR Portfolio @SRRPortfolio]

2026 YTD Total Returns so far :
+10,14% | SRR Portfolio

+148,3% | $HMM.A
+56,2% | $RDVT
+50,3% | $QLYS
+48,2% | $ACLS
+23,4% | $BELFB
+4,4% | $ABS.WA
-7,3% | $CSU
-10,5% | $DNP
-11% | $CVCO
-11,1% | $CRUS
-13,1% | $KNSL
-17,9% | $LMN
-30,4% | $TOI
-44,5% | $CER

[Investment Wisdom @InvestingCanons]

Howard Marks: “It’s not what you buy, it’s what you pay.”

At a low enough price, a low-quality asset can be an outstanding investment. At a high enough price, a high-quality asset can be a terrible one.

Asset Quality ≠ Investment Quality

[Ian Cassel @iancassel]

From Stock Picker, "High Standards"
https://t.co/Aiy4t4b83J

[Ronit Pereira @CAronitpereira]

“Stock market is a device for transferring money from the impatient to the patient."

- Warren Buffett

Perfect example of Nifty 50 TRI, it went from 4,500 to 36,500 in 15 years.

However, 15 years of returns came in 4 sharp 1-year bursts (41%, 21%, 57%, 23%), separated by long flat stretches of 2-3 years where nothing seemed to happen.

The current underperformance may continue for another year or so, but will lead to markets at a very cheap juncture. The next 2-3 years post that will surely lead to outperformance as seen during last 15 years.

Src: 3P Investment Managers

[Excess Returns @excessreturnpod]

Chris Davis bought Costco at $28 and sold at $80. The valuation model said it was expensive.

Charlie Munger warned: "You're also probably not gonna buy as good a business when you sell it."

Davis explains the three things the model missed: store density, Kirkland and international growth.

[Galician Investor Quality Research @GaliciaInvestor]

Noruega 🇳🇴 metió unos 300 millones de dólares en su fondo en 1996. Treinta años después vale 2,3 billones. Y lo curioso es que la mayor parte no es petróleo, es rentabilidad. Interés compuesto de libro.

Hoy ese fondo tiene de media un 1,5 % de todas las empresas cotizadas del mundo. El Gobierno solo puede sacar en torno al 3 % al año, lo que rinde, sin tocar el capital. Y con eso cubre más de una cuarta parte del gasto del presupuesto...

Ahora piensa en España. Pensiones, deuda, cada año discutiendo de dónde sale el dinero. Joder, lo que nos ayudaría algo así.

Petróleo no tenemos, vale. Pero hemos tenido años buenos, privatizaciones, fondos europeos... y casi todo se ha gastado el mismo año que entró.

No hace falta ser Noruega para empezar. Hace falta una regla y respetarla durante décadas, gobierne quien gobierne. Ojalá alguien se atreva, aunque sea empezando poco a poco.

[Ian Cassel @iancassel]

Most people want you to be content where you are because it helps justify their own stagnation. They don't want you to expand beyond them. You learn that the people that love you want to see you rise and grow. They want you to put away the four foot ladder and get the eight.

[SRR Portfolio @SRRPortfolio]

Cavco Industries, Inc $CVCO Investment Case: https://t.co/coosZGRxyJ