I aim to provide alpha-generating investment ideas. I am an independent investor managing my family's portfolio, primarily via a Self Managed Super Fund. You can expect my articles to deliver a clearly structured, evidence-based thesis.I have a generalist approach as I explore, analyze and invest in any sector so long there is perceived alpha potential vs the S&P500. The typical holding period ranges between a few quarters to multiple years.A bit about how I approach research and coverage of a stock:I build ...

Core Viewpoint - The article emphasizes the importance of generating alpha through independent investment strategies, focusing on a generalist approach across various sectors with a performance evaluation against the S&P 500 [1] Group 1: Investment Strategy - The company manages a family portfolio primarily through a Self Managed Super Fund, aiming for alpha-generating investment ideas [1] - The typical holding period for investments ranges from a few quarters to multiple years, indicating a long-term investment strategy [1] Group 2: Research Methodology - The company builds and maintains comprehensive spreadsheets that include historical financial data, key metrics, guidance trends, and valuation comparisons with peers [1] - The research approach includes monitoring industry news, reports, and other analysts' coverage, particularly during significant events like CEO changes [1] - The company prefers not to build DCF models for long-term projections, focusing instead on assessing past performance and the outlook on five key drivers of DCF valuation: revenues, costs and margins, cash flow conversion, capex and investments, and interest rates [1]

Core Insights - The article emphasizes the importance of generating alpha through independent investment strategies, focusing on a generalist approach across various sectors with potential alpha compared to the S&P 500 [1] Investment Strategy - The investment strategy involves managing a family portfolio primarily through a Self Managed Super Fund, with a typical holding period ranging from a few quarters to multiple years [1] - The approach includes building comprehensive spreadsheets that track historical financial data, key metrics, guidance trends, and valuation comparisons with peers [1] Research Methodology - The research methodology involves monitoring industry news, company filings, and other analysts' coverage, particularly during significant events like CEO changes [1] - The focus is on assessing company performance through five key drivers of DCF valuation: revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates, rather than projecting long-term financials [1]

Core Insights - The focus is on generating alpha through independent investment management, primarily using a Self Managed Super Fund [1] - The investment strategy is generalist, targeting sectors with perceived alpha potential compared to the S&P 500 [1] - The typical investment holding period ranges from a few quarters to multiple years [1] Research Approach - Comprehensive spreadsheets are maintained to track historical financial data, key metrics, guidance trends, and valuation comparisons with peers [1] - Monitoring includes industry news, reports, and other analysts' coverage, especially during significant events like CEO changes [1] - The emphasis is on assessing company performance and outlook based on five key drivers of DCF valuation rather than projecting long-term financials [1]

Core Insights - The article emphasizes the importance of generating alpha through independent investment strategies, focusing on a generalist approach across various sectors with potential alpha compared to the S&P 500 [1] Investment Strategy - The investment strategy involves managing a family portfolio primarily through a Self Managed Super Fund, with a typical holding period ranging from a few quarters to multiple years [1] - The analyst builds comprehensive spreadsheets that track historical financial data, key metrics, guidance trends, and valuation comparisons with peers [1] Research Methodology - The research methodology includes monitoring industry news, company filings, and other analysts' coverage, with a particular focus on leadership changes and their impact on company performance [1] - The analyst prefers not to use discounted cash flow (DCF) models for long-term projections, instead focusing on assessing a company's historical performance and key drivers of valuation [1] Key Drivers of Valuation - The five key drivers of DCF valuation highlighted are revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates, which influence the opportunity cost of capital [1]

Core Insights - Taiwan Semiconductor Manufacturing Company Limited (TSMC) has outperformed the market since the last update, indicating strong performance and potential for continued growth [1] Company Analysis - TSMC is managed by an independent investor who focuses on generating alpha through a generalist investment approach, analyzing various sectors with perceived alpha potential against the S&P 500 [1] - The typical holding period for investments in TSMC ranges from a few quarters to multiple years, suggesting a long-term investment strategy [1] - The research methodology includes maintaining comprehensive spreadsheets with historical financial data, key metrics, guidance trends, and performance indicators, which aids in assessing TSMC's performance [1] Investment Strategy - The analysis emphasizes the importance of evaluating TSMC's delivery on key drivers of valuation, including revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates, rather than relying heavily on discounted cash flow (DCF) projections [1] - The investor has a beneficial long position in TSMC shares, indicating confidence in the company's future performance [1]

Core Insights - Nvidia Corporation (NASDAQ: NVDA) has underperformed slightly compared to the S&P 500 since the last bullish update on the stock, which included a relative comparison with Advanced Micro Devices [1] Group 1: Investment Strategy - The investment approach focuses on generating alpha by analyzing various sectors with perceived potential against the S&P 500 [1] - The typical holding period for investments ranges from a few quarters to multiple years [1] Group 2: Research Methodology - Comprehensive spreadsheets are maintained to track historical financial data, key metrics, guidance trends, and valuation comparisons with peers [1] - The analysis includes monitoring industry news, reports, and other coverage, especially during significant events like CEO changes [1] - The emphasis is on assessing company performance and outlook based on five key drivers of DCF valuation: revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates [1]

Core Insights - The article emphasizes the importance of generating alpha through independent investment strategies, focusing on sectors with perceived potential against the S&P 500 [1] - A generalist approach is adopted, allowing for exploration and investment across various sectors, with typical holding periods ranging from a few quarters to multiple years [1] Research Methodology - The company maintains comprehensive spreadsheets that track historical financial data, key metrics, guidance trends, and performance indicators compared to consensus estimates [1] - In addition to company filings, relevant industry news and reports are monitored to provide a holistic view of the stock's performance [1] - A deep dive into leadership changes, particularly CEO transitions, is conducted to assess the background and past performance of key leaders [1] Valuation Approach - The company rarely utilizes Discounted Cash Flow (DCF) models for long-term projections, believing they offer limited value [1] - Instead, the focus is on evaluating how a company has performed historically and the outlook on five key drivers of DCF valuation: revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates [1]

Core Viewpoint - The bullish perspective on Taiwan Semiconductor Manufacturing Company Limited (TSMC) is supported by its strong stock performance compared to the S&P 500, indicating a positive investment outlook [1]. Group 1: Investment Strategy - The investment approach focuses on generating alpha by analyzing various sectors with perceived potential against the S&P 500, with typical holding periods ranging from a few quarters to multiple years [1]. - Comprehensive spreadsheets are maintained to track historical financial data, key metrics, guidance trends, and valuation comparisons with peers, which aids in informed decision-making [1]. Group 2: Research Methodology - The research methodology emphasizes assessing a company's historical performance and outlook on five key drivers of DCF valuation: revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates, rather than projecting long-term financials [1]. - The analysis includes monitoring industry news, reports, and other analysts' coverage, especially during significant events like CEO changes, to understand leadership impact [1].

Core Insights - The article emphasizes the importance of generating alpha through independent investment strategies, focusing on sectors with perceived potential against the S&P 500 [1] - A generalist approach is adopted, allowing for exploration and investment across various sectors, with typical holding periods ranging from a few quarters to multiple years [1] Research Methodology - The company maintains comprehensive spreadsheets that track historical financial data, key metrics, guidance trends, and valuation comparisons against peers [1] - Monitoring includes not only company filings but also relevant industry news and reports, as well as analyses from other sources [1] - In instances of leadership changes, a deep dive into the new CEO's background and past performance is conducted to assess potential impacts on the company [1] Valuation Approach - The company rarely utilizes Discounted Cash Flow (DCF) models for long-term projections, believing they offer limited value [1] - Instead, the focus is on evaluating how a company has performed historically and the outlook on five key drivers of DCF valuation: revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates [1]