What's really rewarding as an analyst, is hearing from some of my subscribers that they've done considerably better this year after buying companies I've pitched at a lower average price than me.

4 companies returned more than 50%: +253.4%, +82.8%, +54.2% and +53.9% from a concentrated portfolio of 6 companies at the start of the year and 8 at the end. 3 were event driven, and the 4th was a combination of being ridiculously cheap and a change in sentiment.

The other positions were either flat or down no more than around 10%, so great asymmetry.

New report on a profitable, cash flowing business trading at 0.39x book value and 0.31x its real NAV using updated property values. firmreturns.com/shepherd-neame…

Currently working on a new free article looking at three contrarian investment ideas. Two out of three researched so far and both are very interesting. Make sure you're subscribed to the newsletter to get them in your inbox (link in bio).

New free article covering three contrarian investment ideas firmreturns.com/three-contrari…

Three contrarian ideas with 100%+ upside from a recovery

The Chinese property market is in really a crazy place. My wife was talking to her parents today and they said their two prime location apartments have halved in value. There's a pretty good chance they'll fall further as they still cost more than 15 times the average salary.

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Something new I'm trying. If you'd like me to send out all free articles this way in addition to the newsletter, please help me by sharing it.

Sent out a new article this morning: firmreturns.com/an-everyday-ex…

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This is something the AI evangelists seem to be missing: