I primarily invest in turnarounds in natural resource industries, where I have a typical holding period of 2-4 years. Focusing on value offers good downside protection and can still provide great upside participation. The portfolio has, over the last 7 years, had a compounded annual growth rate of 36% .If you like this article and are interested in more frequent analysis of my holding companies, real-time notifications on portfolio changes, together with macro and industry analysis. I would encourage you to ...

Key Takeaways Lennar is down 20.6% in 2025 as incentives hurt margins, but its tech-driven model targets efficiency gains.Marvell has fallen 23.8% amid delayed customer spending despite key exposure to AI and cloud infrastructure.Snap is down 29.2% as ad growth slowed, but AI features and a $400M Perplexity deal aim to diversify revenue.Market leadership in any given year often leaves a long list of laggards behind. In 2025, several well-known stocks have fallen more than 20% year to date as investors punis ...

Core Insights - The investment strategy focuses on turnarounds in the natural resource industries, with a typical holding period of 2-4 years, emphasizing value for downside protection and upside potential [1][3] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance in the sector [1] Investment Focus - The investment group targets companies with quality characteristics that are trading at depressed valuations, allowing for participation in the upside of natural resource investing while mitigating extreme drawdowns [3] - Current focus on natural resource industries is driven by monetary and fiscal policies, underinvestment, and attractive valuations [3]

Core Insights - The article emphasizes the importance of long-term investing, highlighting the benefits of compounding and dividend reinvesting as key strategies for wealth creation [1] - It advocates for a balanced investment approach that combines steady accumulation of high-quality assets with high-risk, high-reward opportunities and transformative technologies [1] Group 1: Investment Philosophy - The philosophy of investing is centered around the slow accumulation of high-quality assets, which is seen as essential for wealth creation [1] - The article suggests that patient investing through both good and bad market conditions yields the greatest rewards [1] Group 2: Personal Experience and Approach - The author describes themselves as an amateur investor with no formal education in investing or business, emphasizing self-education and learning from others [1] - The author has over 20 years of teaching experience at the college/university level and holds a PhD from Brunel University, indicating a strong academic background [1]

Group 1 - The company Aya Gold & Silver Inc. is a Canadian precious metals firm that operates in U.S. dollars and owns the producing silver mine Zgounder and 85% of the Boumadine polymetallic development project [2] - The investment strategy focuses on turnaround opportunities in natural resource industries, emphasizing value to provide downside protection while allowing for significant upside potential [1][2] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance in the sector [1] Group 2 - The investment group Off The Beaten Path targets companies with quality characteristics that are trading at depressed valuations, aiming to mitigate extreme drawdowns common in natural resource investing [2] - The current focus on natural resource industries is driven by favorable monetary and fiscal policies, underinvestment, and attractive valuations [2]

Group 1 - The company Aya Gold & Silver Inc. is a Canadian precious metals firm that operates in U.S. dollars and owns the producing silver mine Zgounder and 85% of the Boumadine polymetallic development project [2] - The investment strategy focuses on turnaround opportunities in natural resource industries, emphasizing value investing to provide downside protection while allowing for significant upside potential [1][2] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance in the sector [1] Group 2 - The investment group Off The Beaten Path targets companies with quality characteristics that are trading at depressed valuations, aiming to mitigate extreme drawdowns common in natural resource investing [2] - The current focus on natural resource industries is driven by favorable monetary and fiscal policies, underinvestment, and attractive valuations [2]

Group 1 - The company primarily invests in turnarounds within the natural resource industries, with a typical holding period of 2-4 years, focusing on value for downside protection and upside participation [1] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance [1] - Warrior Met Coal (HCC) is a U.S. metallurgical coal mining company with two operating mines and a development project, Blue Creek, which is ahead of schedule, starting longwall mining in October 2025 [2] Group 2 - The investment strategy emphasizes companies with quality characteristics that are trading at depressed valuations, allowing for participation in the upside of natural resource investing while mitigating extreme drawdowns [2]

Group 1 - The company primarily invests in turnarounds within the natural resource industries, with a typical holding period of 2-4 years, focusing on value for downside protection and upside participation [1] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance [1] - Warrior Met Coal (HCC) is a U.S. metallurgical coal mining company with two operating mines and a development project, Blue Creek, which is ahead of schedule, starting longwall mining in October 2025 [2] Group 2 - The investment strategy emphasizes companies with quality characteristics that are trading at depressed valuations, allowing for participation in the upside of natural resource investing while mitigating extreme drawdowns [2]

Group 1 - The investment strategy focuses on turnarounds in the natural resource industries, with a typical holding period of 2-4 years [1][3] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance [1] - The investment group targets companies with quality characteristics that are trading at depressed valuations, allowing for upside participation while minimizing extreme drawdowns [3] Group 2 - Current focus on natural resource industries is driven by monetary and fiscal policies, underinvestment, and attractive valuations [3] - The investment approach emphasizes value, which provides good downside protection while still allowing for significant upside potential [1][3]

Group 1 - The investment strategy focuses on turnarounds in natural resource industries with a typical holding period of 2-4 years, emphasizing value for downside protection and upside participation [1][2] - The portfolio has achieved a compounded annual growth rate of 34% over the last 7 years, indicating strong performance in the sector [1] - Peabody Energy Corporation (BTU) is identified as the largest coal mining company in the U.S. based on production volume, highlighting its significant position in the industry [2] Group 2 - The investment group targets companies with quality characteristics that are trading at depressed valuations, allowing for participation in the upside of natural resource investing while mitigating extreme drawdowns [2]