The long-term portfolio
The Stock Picker
Company-level conviction, the institutional way. From the filing and the model to a position you actually understand, with the downside named before the upside.
Where it sits
What you hold for years. A strategic allocation you keep, and a tactical one you move around it.
Who does this for a living
A fundamental equity fund
Known for it
Buffett, Lynch, Ackman
The loop
Read, thesis, decision, review.
Read
The filing, the model, the business: structured, not scattered.
Thesis
Good business, right price? A valuation view you can defend.
Decision
A sized position, not a ticker you chased off a screen.
Review
Sell on a broken thesis, not a red day. The loop is how you tell them apart.
The problem
You can name the company. Can you name the price?
You found it, you read about it, you like it. Then the position gets sized by how confident you happen to feel that week, the thesis lives in your head where it can never quite be wrong, and the decision to sell arrives on a red day with nothing written down to argue against it. Conviction without a process is a story you told yourself.
Planned. Not started.
It is in the plan and it is not being written yet. The ones already on the desk go first. What comes after them is decided with the founding cohort, so joining now is how you move this one up the order.
Get serious
Discipline beats impulse. Process beats luck.
Welcome, Finaketeers.