INVESTMENT JOURNAL
Track record
of thinking.
Not only what happened, but what was believed, which evidence mattered and how the view changed.
Ideas should be accountable.
Some ideas will work. Some will fail. Both should remain, because the purpose is not to manufacture a perfect history. It is to build a more honest decision process.
DecisionReviewMistakeLessonChange of View
Lesson↗Decision↗Lesson↗Review↗
Investment Foundations · Active
Margin of safety: the distance between price and value
A practical framework for avoiding overpayment, even for a high-quality business.Portfolio Management · Active
Asset allocation before stock selection
Returns matter, but surviving the cycle matters more.Business Analysis · Active
Reading financial statements backward from cash flow
Starting with cash helps cut through layers of accounting profit.Decision Process · Confirmed