Welcome to the premium section of This page shows you all the write-ups that have been published.

Make sure you are logged-in to your account or that you register an account if you don’t yet have one.

The buttons below will bring you to the pages with the write-ups. By default, you’ll only be able to see a short preview of the write-up. This preview allows you to get some sense of whether an investment idea is of interest to you. To read the full write-up, you’ll need to add some credits to your account. Once you’ve added credits to your account, click on the “Purchase Page”-button on the page that contains the write-up to read the investment idea.

Portfolio positions


  • Singapore  Company 1: a Singapore listed company trading at a low P/E multiple and a low price to free cash flow multiple. There’s also a substantial discount to book value.
    Date of publication: January 07, 2017
    Credits: 10 (lowered in price due to stock price increase since January)
  • United States  Company 2: a US-listed microcap bank that trades over the counter (OTC). An investor with some history of activism has taken a significant stake in this bank. I expect the activist to push the management of the bank for a sale of the bank to a larger entity. The bank trades below tangible book value and is probably too small to remain independent in the future. Shares are very illiquid.
    Date of publication: April 20, 2017
    Credits: 10
  • United States  Japanese basket – April, 2017: an overview of all the Japanese companies that are currently in my portfolio. Most of these companies are cash-rich net-nets, but there are a couple of companies in the basket that I like for other reasons, such as: a large discount to book value or significant share buybacks by a company. Four new positions are disclosed since my last update in December, 2015.
    Date of publication: April 20, 2017
    Credits: 20

Investment ideas


  • No published investment ideas yet

Difference between portfolio positions and investment ideas:

Portfolio positions are public companies that I owned in my personal portfolio at the time of publication of the write-up.

Investment ideas are companies that are not in my portfolio at the time of publication, but that I still consider attractive. Reasons for not owning a stock despite considering it attractive could be:

  • A lack of cash to invest in all attractive situations that are available at a particular point in time
  • I already have a large exposure to other cheap companies in a particular country or sector
  • I don’t have access to a particular market or investment
  • I might have a limited understanding of an idea, due to the complexity of it (or a lack of intelligence on my side), that makes the idea speculative for me, but still potentially interesting and valuable for others. I will disclose the speculative nature of ideas like this in the preview text for those ideas.

Generally, it will take less credits to access write-ups in this second category. Since I don’t have “skin in the game” with these ideas, they could prove to be less attractive than my portfolio positions. I also think it’s a good idea to create an incentive for me to own the companies I write about. A higher price for portfolio positions than for other investment ideas creates an incentive for me to invest in the companies that are profiled in the premium section.

In the years that I’ve been blogging, there have generally been many more attractive investment ideas than I could invest in, given the limits of my net worth. That’s the main reason I created this second category. It creates a lot more ideas to write about than if I limited myself to writing about portfolio positions only.