Essays on stock picking, moats, valuation, and the discipline of compounding — written for investors who measure returns in years, not minutes.
Reported earnings are an accounting output. Owner earnings are the cash an owner could actually pull out of the business. Oracle and Campbell's show why the gap between the two is where most mistakes get made.
Read →Five things fail a company before we bother valuing it — chronic dilution, earnings cash flow never backs up, fragile debt, value-destroying M&A, and pay-no-matter-what management. Any one is enough to stop the analysis.
Read →The data center bottleneck is moving from power to people — and Comfort Systems USA is the turn-key MEP contractor best positioned to capture it.
Read →Return on invested capital tells you whether a business creates value or destroys it. Here is why ROIC anchors our 167-point framework, and the four ways the number can quietly lie to you.
Read →Claremont Street is an AI-powered investment research platform that runs a 167-point framework — quality, valuation, and margin of safety — on any stock, so you start from evidence instead of a blank page.
Read →AI investing means using artificial intelligence to research, value, and monitor companies faster — without handing the final judgment to a machine. Here's what it is, what it isn't, and where it actually helps.
Read →Margin of safety is the gap between what a business is worth and what you pay for it. Here is how we turn that idea into a real number — a defensible discount to a conservative value, sized by how predictable the business is.
Read →A practical guide to using Claremont Street — how to run a 167-point report on any ticker, read the quality, value, and margin-of-safety scores, and turn them into a decision.
Read →A beginner's guide to using AI for investing — what to use it for, what to never outsource to it, and a simple step-by-step process for your first AI-assisted stock research.
Read →A step-by-step walkthrough for researching a single stock with AI — from the business model to a conservative valuation to the buy decision — with the prompts and checks that keep you honest.
Read →A repeatable framework for doing investment research with AI — from gathering filings to valuation to a margin-of-safety check — and the guardrails that keep AI from leading you astray.
Read →A durable business is one whose advantage compounds while competitors sleep. Here is the lens we use to tell a real moat from a good quarter.
Read →Great businesses still make terrible investments at the wrong price. Margin of safety is how a patient investor survives being wrong — and stays in the game long enough to be right.
Read →Two wars reset the price of natural gas, and the one company that leases floating LNG plants to the world is positioned to capture it.
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