Base Hit Investing

Thanks for reading Base Hit Investing!

My name is John Huber. For over a decade, I’ve been managing an investment firm called Saber Capital Management and writing about investing online. Saber manages separate accounts and a partnership modeled after the original Buffett partnerships from the 1950’s.

We believe investment success comes from a combination of value investment principles and behavioral traits: patience and a long-term mindset.

If you’d like to invest with Saber Capital or learn more, please visit our website or reach out to me at john@sabercapitalmgt.com.

What is this BHI subscription?

The goal of BHI is to help make you a better investor.

This site is an extension of my own investment journal which is where I record thoughts on stocks I’m researching and my ideas about portfolio management. This blog will consist of two main types of articles:

• Specific stock investments I find interesting or businesses worth studying

• General thoughts on portfolio management, investing concepts, and other related ideas from books or articles

BHI Paid subscribers get:

• Subscriber-only posts and full archive of past investment write-ups

• Company specific research, investment ideas, and portfolio management discussion

• Education corner: posts on investment fundamentals (e.g. our Importance of ROIC series), my key takeaways from books and other investors

• Post comments/questions and receive subscriber-only update notes

To get every post and our company specific investment work, please consider upgrading to a paid subscription.

You can unsubscribe in one click.

Please note: BHI is not a stock recommendation service. We will mention lots of stocks and have lots of thoughts on companies, and some of these will be stocks I’m investing in (which I will disclose of course), but this should not be viewed as a stock ideas newsletter or any kind of investment recommendation. Please make sure to be careful before making any investment decisions. I encourage you to do your own work and take your time while studying any of the companies I mention on this site. See Disclaimer page.

The sole goal for this site is to provide an educational resource.

Thanks again for reading.

John

P.S. A few old posts you might find interesting:

• Importance of ROIC Series: multi-part series on how to calculate and think about returns on capital and value creation: (2014-2016)

  • Part 1: Compounders and Cheap Stocks

  • 2: Compounders and Cheap Stocks II

  • 3: Compounding and Reinvestment

  • 4: Math of Compounding

  • 5: Case Study of 42 Years of Wells Fargo

  • Reinvestment Moats vs Legacy Moats (guest post from Connor Leonard)

  • Calculating the Return on Incremental Investments (2016)

  • Buffett’s 3 Categories of ROIC (2016)

• A “Royalty on the Growth of Others” at a 27% FCF Yield (2024)

• Apple’s Key Competitive Advantage (2017)

• Verisign (VRSN): Toll Road of the Internet (2016)

• Markel (MKL): A Compounding Machine (2014)

• What is Your Edge? (2016)

• Sources of Enduring Business Success (2022)

• Risk of Outsourced Thinking (2019)

• Long Feedback Loops: Writing vs “Getting Published” (2020)

• 3 Engines of Value (Guest Lecture at NC State; 2023)

• Buffett’s 44% CAGR in Japan (2023)

• Saber Capital’s website (links to research, presentations and podcasts)

A Bit More on Saber and Our Investment Approach

Saber is the investment vehicle that manages nearly all of my personal investment capital along with a majority of my family’s net worth. We manage separate accounts and a fund modeled after the original Buffett partnership from the 1950’s.

The names Saber and Base Hit Investing are metaphors that reference baseball and my broad philosophy: to make steady progress day after day, focus on continuous improvement, and emphasize value investing.

If you’d like to invest with Saber Capital or learn more, please visit our website or reach out to me at john@sabercapitalmgt.com.