Ferrucho Doddoli Lankenau

Value Investor | Software Engineer

Founder of &

[Ferrucho Doddoli Lankenau @dolacapital]

Thought of the day: Tolerance of everything and all is harmful, judgment through virtue is good.

Virtue begins by differentiating between vice and what is good for us.

[Ferrucho Doddoli Lankenau @dolacapital]

Thought of the day:

You can win any argument if you are permitted to make the assumptions. Recognition of this simple fact is essential to an understanding of the stock market. Investors can fool themselves too easily to confirm their own biases.

[Ferrucho Doddoli Lankenau @dolacapital]

Over the last decade, the SPY’s lowest free cash flow (“FCF”) yield was just over 3%. Today, the index is going for 3.24%.

[Ferrucho Doddoli Lankenau @dolacapital]

"The stock market is a mechanism to transfer wealth from the active to the inactive"

- Warren Buffett

[Ferrucho Doddoli Lankenau @dolacapital]

“If you don’t have ideas, read.

If you have ideas but can’t articulate them, write.

If you have ideas, and have the clarity to execute, build.”

- Dan Koe

[Ferrucho Doddoli Lankenau @dolacapital]

Perhaps you create wealth in proportion to how well you understand the problem you're solving, and the problems you understand best are your own

[Ferrucho Doddoli Lankenau @dolacapital]

On Pivoting: "If in each new idea you're able to re-use most of what you built for the previous ones, then you're probably in a process that converges. Whereas if you keep restarting from scratch, that's a bad sign."

- Paul Graham

[Ferrucho Doddoli Lankenau @dolacapital]

Every mischance in life is an opportunity to behave well. Every mischance in life was an opportunity to learn something and that your duty was not to be immersed in self-pity, but to utilize the terrible blow in a constructive fashion.

[Ferrucho Doddoli Lankenau @dolacapital]

"It is remarkable how much long-term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent."

- Charlie Munger

[Ferrucho Doddoli Lankenau @dolacapital]

Inversion: A mental model I want to practice more.

You can make tremendous progress and get success across many domains by simply figuring out the failure modes before acting, this makes what you do more likely to succeed, by not failing.

[Ferrucho Doddoli Lankenau @dolacapital]

A list of questions:

1. How do I become a terrible investor?
2. How do I become and stay poor?
3. How do I bankrupt a company?
3. How do I fail as a founder?
4. How do I become a bad person?
5. How do I become a bad husband?
6. How do I avoid finding good startup ideas?

[Ferrucho Doddoli Lankenau @dolacapital]

On accountability: "An example of a really responsible system is the system the Romans used when they built an arch. The guy who created the arch stood under it as the scaffolding was removed. It’s like packing your own parachute."

- Charlie Munger

[Ferrucho Doddoli Lankenau @dolacapital]

In evaluating investment decisions,

"Make everything as simple as possible, but not simpler."

[Ferrucho Doddoli Lankenau @dolacapital]

Nevertheless, it does not cause it, as there are successful people who do not have these qualities. Where you live, who you work with, and what you do contribute greatly to lucky events that can also contribute to success in non-linear ways.

[Ferrucho Doddoli Lankenau @dolacapital]

We assume that good qualities cause success. Hard work, perseverance, intelligence, integrity, discipline, and other qualities contribute to success and probably increase the probability of occurring because you are better prepared to take opportunities.

[Ferrucho Doddoli Lankenau @dolacapital]

As of 10/5/2023, Apple, Microsoft, Nvidia, Telsa, Amazon, Google, and Meta represented 28.2% of the S&P 500. This is the highest concentration of top 10 companies in the S&P 500 since the early 1970s.

[Ferrucho Doddoli Lankenau @dolacapital]

How do I define success?

I can do what I want with my time.

I can choose with who I work.

I have very high-quality relationships.

I have enough wealth to not worry about money.

I am at peace.

I am healthy.

I feel proud of myself.

I wake up feeling happy to live.

[Ferrucho Doddoli Lankenau @dolacapital]

@geoffalex Hello Geoff, I hope you are doing great. My name is Fernando Doddoli, I am a junior in college living in Monterrey Mexico. I have an idea about creating and renting out kitchen spaces to deliver only restaurants.

I would love to get your opinion on this concept.