In a world full of get-rich-quick schemers, Tae Kim is a breath of fresh air. His “Financial Tortoise” videos preach patience over brash gambles and overcomplicated portfolios, and like many smart investors, Kim promotes wealth-building techniques that are safe, slow and steady. Common sense dictates that people that earn more money have access to better knowledge, opportunities and resources, and as a result, have more success investing their money. However, Kim believes the opposite. In fact, he believ ...

Turtle Creek Asset Management, an investment management company, has released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The firm believes that the portfolio offered a compelling opportunity in a highly valued market environment. The net asset value of the Turtle Creek Equity Fund increased by 0.4% in the third quarter, lagging behind the S&P MidCap 400 index’s 7.7% increase and the S&P/TSX Completion index’s 16.3% gain. Turtle Creek Synthetic PE Fund increased 1.4% ...

Core Insights - The article introduces Minerva Capital Management as a new contributing analyst to Seeking Alpha, emphasizing the opportunity for individuals to share investment ideas and gain access to exclusive content [1]. Group 1 - The analyst has an MBA in Finance and a background in management consulting and corporate management, now focusing on family office investment management [2]. - The investment strategy involves purchasing high-quality companies with significant growth potential at attractive prices, utilizing a bottom-up approach that combines fundamental and technical analysis [2]. - The analyst prefers growth stocks and dividend growth stocks, avoiding high-yield dividend stocks and deep value stocks, and aims to manage a portfolio of 15 to 20 stocks for optimal returns and acceptable volatility [2].

Core Theme - The overarching theme emphasizes that long-term investment in individual stocks can create significant wealth, contrasting with short-term trading strategies [2][27]. Market Performance - The Dow gained 82 points, the S&P climbed 41%, and the NASDAQ advanced 0.3%, indicating a positive market day that may have created new millionaires [3]. Investment Strategy - Investors are cautioned against selling favorite stocks due to market fluctuations, such as typical poor performance in September or potential government shutdowns, as these are deemed distractions from the actual performance of companies [3][4]. - The importance of focusing on the underlying business realities rather than external events is highlighted [5][4]. Case Study: Nvidia - Nvidia is presented as a transformative investment example, with its stock price rising from an adjusted price of just under $4 in 2017 to over $186, showcasing the potential for life-changing wealth through long-term holding [6][7]. - The emotional impact of successful investments is noted, with many investors sharing their positive experiences and financial gains from Nvidia [7]. Historical Performance of Stocks - The performance of the "FANG" stocks (Facebook, Amazon, Netflix, Google, and later Apple) is discussed, illustrating that significant returns were achieved only by those who held onto their investments rather than trading in and out [9][10]. - Specific investment outcomes are provided, such as a $1,000 investment in the S&P index fund growing to nearly $5,000, while investments in individual stocks like Netflix could yield $36,000 [10]. Investment Philosophy - The narrative challenges the prevailing belief that individual stock picking is too difficult for average investors, advocating for a bifurcated portfolio strategy that includes both index funds and select individual stocks [11][12]. - The book aims to democratize investment knowledge, encouraging individuals to understand stock valuation and the importance of compounding returns [19][24]. Generational Wealth Transfer - A significant wealth transfer of $100 trillion from baby boomers to millennials and Gen Z is noted, with concerns that the younger generation lacks investment knowledge and tends to trade rather than invest for the long term [15][16]. Conclusion - The message reinforces that while the market is currently favorable, it is essential to trust in the potential of growth stocks and to focus on long-term investment strategies to achieve financial success [25].

Core Insights - The investment philosophy emphasizes seeking obvious investment opportunities that stand out significantly [1] - The approach has evolved from deep value investing to focusing on acquiring high-quality businesses for long-term holding [1] - The strategy involves concentrated positions, typically initiating at 5-10% of the portfolio [1] Investment Strategy - The investor initially favored a "cigar-butt" approach, which focuses on deep value, but has shifted towards a strategy inspired by Charlie Munger, prioritizing quality businesses [1] - The philosophy includes a commitment to never trimming positions, regardless of their growth within the portfolio [1] - The guiding principle is to "don't cut your flowers and water your weeds," indicating a focus on nurturing successful investments [1] Community Engagement - The investor expresses a willingness to learn from the community, acknowledging that they do not claim to be an expert [1] - There is an openness to education and feedback from other investors within the SeekingAlpha community [1]