The Silent Allocator

Whispering capital into quiet soils, where patience blooms into unseen returns.
Sowing capital with intention, harvesting wisdom over time.

[The Silent Allocator @silentallocator]

@CurryorNothing @BrettKPG @BerkelKip @kpg_group yeh, we should ask him.

[The Silent Allocator @silentallocator]

@CurryorNothing @BrettKPG @BerkelKip @kpg_group In FY2024, Brett Kelly received total compensation of A$1,251,844. Isn't that enough to pay for living expenses?

[The Silent Allocator @silentallocator]

@BrettKPG @BerkelKip @kpg_group @BrettKPG $kpg.ax If leverage left you vulnerable to margin calls,isn't that exactly what Munger warned against?ok,this doesn't affect operating biz directly. But evaluating a CEO means evaluating whether he applies to his own capital the same principles he advocates publicly.

[The Silent Allocator @silentallocator]

@BrettKPG @BerkelKip @kpg_group @BrettKPG You often speak about rational capital allocation and Charlie Munger's principles—you even keep his bust on your desk. Yet one of his clearest warnings was:

"There are only three ways a smart person can go broke: liquor, ladies and leverage."

[The Silent Allocator @silentallocator]

@NicoperJES ah ok 😂

[The Silent Allocator @silentallocator]

@sidecarcap This post implicitly suggests that only bad companies decline in price, while the stock price of good companies always goes up. I still think averaging down is a good choice to buy more of what you like.

[The Silent Allocator @silentallocator]

@Jeffh4547 @sidecarcap So averaging down on a good company is not good? I don’t understand your point. It seems like only bad companies go down, while good companies keep going up indefinitely.

[The Silent Allocator @silentallocator]

@Gubben89 I’d buy more but I feel it a bit overvalued. What’s your thought?

[The Silent Allocator @silentallocator]

@BrettKPG @Ausproperty95 It seems that the blackout period lasts all year.

[The Silent Allocator @silentallocator]

@Ausproperty95 @BrettKPG Or he could buy some shares himself, but he doesn’t even do that.

[The Silent Allocator @silentallocator]

@aakash_vn @bowtiedstocks Do you think this is a reasonable valuation at the moment, or are you considering buying again at these levels?

[The Silent Allocator @silentallocator]

@pedroleongarci2 you own or are you buying also?

[The Silent Allocator @silentallocator]

@SwissKnifeInv @leevalueroach could you elaborate on that?
I am a shareholder btw :)

[The Silent Allocator @silentallocator]

@BerkelKip because the leitmotif of these times around these compounders is that many exceptional companies have always traded at high multiples.
But hindsight makes everyone a genius. I believe the only defensible approach is to buy exceptional companies at low prices.

[The Silent Allocator @silentallocator]

@sidecarcap Not everyone agrees with you:
Buffett used to say: "invest in a business that even an idiot can run."

[The Silent Allocator @silentallocator]

@eclecticinvest5 concise, no fuss, no self promotional, lean and executive.