Archive - Base Hit Investing

Quiet Compounders and a Hidden Moat at an 18% FCF Yield

A high margin, high ROIC business with a hidden moat for 5.5 P/FCF that is buying back shares.

Jul 11 •

June 2025

Investment Evolution or Flexible Tactics?

A look at Warren Buffett's remarkable investment flexibility and some thoughts on opportunities over the next decade

Jun 2 •

May 2025

A Compounder That's Ramping Up the Buyback

A big buyback announcement (14% of the shares) & recent insider buying; summary of the valuation and thoughts on the opportunistic mindset of its…

May 12 •

April 2025

A Gem of a Thrift Conversion

Recently converted thrift trades at 65% of book value, has lots of excess capital, pristine credit quality, is buying back meaningful amounts of its…

Apr 23 •

Short-termism and Opportunities; Buffett's Views on Tariffs

Clip of a Saber client note with some thoughts on trade deficits and market behavior

Apr 17 •

March 2025

CNK Buyback, Special Situation Review, and Some Thoughts on Theaters

A Lincoln Post with some quick thoughts on CNK's valuation, its new buyback announcement and a review of the Fairfax preferred shares.

Mar 7 •

February 2025

Investment Categories and Update on Holdings

Investor letter to Saber clients from last fall that outlines three types of investments in our portfolio, along with some updated comments on the…

Feb 23 •

January 2025

Portfolio Management Thoughts; Valuation S-Curve; and an Update on Investments

I review some thoughts on the valuations of some stocks we discussed last year, along with portfolio management tactics, thoughts on selling, and an…

Jan 6 •

December 2024

Special Situation Arbitrage Opportunity

A hidden series of securities on a very high-quality company that I believe have been mispriced, and a recent announcement provides clarity on when this…

Dec 5, 2024 •

November 2024

Buyback Machine and a Possible Liquidation

A company selling off assets and using the large net cash proceeds to buy back shares at a high FCF yield

Nov 23, 2024 •

October 2024

Video: Market Valuations and Opportunities

I recorded a video that discusses some risks I see in the general stock market and opportunities that have resulted in part because of passive index…

Oct 28, 2024 •

Lincoln's 2nd Inaugural Address; Investing Philosophies and Tribalism

Inspired by Abe Lincoln's succinct delivery, I'm going to publish more short form thoughts from the "ugly first draft" files with the goal of sparking…

Oct 1, 2024 •

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