🧙♂️ Welcome to The Hermit 🧙♂️
🧙♂️ The Hermit 🧙♂️ provides easy access to extraordinary listed Nano- and Micro-Cap businesses, companies with a market capitalization between $1M and $500M.
Why Nano and Micro Caps?
Low Volume. These companies (shares) can only be bought in small quantities
Information Asymmetry. Even though analysts can cover these companies, they just won’t (unless - until - there’s some interest)
1-on-1 time. Managers will answer your calls if your questions are good, regardless of whether you work for Fidelity or in your grandma’s basement
What can you expect from The Hermit?
You will receive a stream of well-researched posts every Tuesday, along with updates whenever a company releases noteworthy information. The content of these will fall under one of the following:
📈 Investment Thesis - Discover timeless company write-ups providing an overview of each company’s business model, core competitive advantages, catalysts, risks, and approximate valuations
🎙️ C-Suite Interviews - Get access to exclusive interviews with the visionary leaders of under-the-radar companies
🧗 Our Investing Journey - Dive into essays, tools, and lively discussions on cognitive biases, investment strategies, and personal experiences. Uncover unconventional perspectives on investing, sprinkled with a touch of satire
📝 Company Updates - Save time with concise commentary on the progress of companies I find intriguing, focusing on those I have written theses about. Includes thesis-altering announcements and insights from quarterly calls
With 🧙♂️ Hermit Premium, you can effectively hire a full-time analyst for $50 per month or $250 per year (on any price increases, you are locked in at your original rate in perpetuity).
🧙♂️ Hermit Premium members get access to
📈 Actionable Investment Thesis, and
📝 In-depth Commentary on Company Updates
🎙️ C-Suite Interview Insights w/ notes and transcripts
🗄️ All Archived Posts
🧙♂️ Hermit Premium members also receive a dedicated post at the beginning of every month outlining changes in The Hermit’s microcap portfolio, including:
💼 transparent access to a seven-figure portfolio
💬 detailed commentary on the thought process behind portfolio allocation
💲 company valuations and insights, and
📊 quarterly performance reviews
Prices go up every quarter. Subscribe today to lock in your rate for life!
Note: If you are a student or a Cardlytics shareholder, please DM me and you may receive a special discount.
More about me
Keynes and I don’t get along, but my approach to most things in life can be described with one of his well-known quotes:
It is better to be roughly right than precisely wrong - John Maynard Keynes
This leads me to a seemingly paradoxical approach to valuing businesses. Despite my background in project finance (think intense Excel spreadsheet marathons) and M&A, I don’t rely on complex modeling to value a business at first. If it isn’t obvious with simple math, then why bother?
Apart from a few modeling, CFA, and CAIA certificates, I earned a bachelor's in economics from UNAV/IESE and two master's degrees, one in management and the other in finance, from IE Business School (Yes, I collected degrees like some people collect stamps).
I've had the privilege of attending the BRK AGM in 2023 and 2024, as well as the RV Capital AGM in 2024. Trust me, they’re not just a bunch of acronyms; they're where the financial magic happens. I highly recommend that every financial enthusiast attend at least one of these events in their lifetime.
The investors who stand out to me the most are Cliff Sosin, Henry Kravis, and the late Charlie Munger. They are precise, brutally honest, reflexive, and, as a consequence of these traits, confident.
