Investing
Every single company position and every memecoin in my book has its own page. Ten pages, one per position, each one saying what the thing is, how it makes money, who buys it, and what risks it discloses about itself.
What is on none of them is a price, a market cap, a ranking, a growth rate, an analyst view or a price target. That absence is the design.
Writing It Down Is The Test
If the reason fits in a sentence you can say out loud without flinching, it is a position. If it needs a paragraph of context to survive, it is a story.
A conviction that only exists in your head is untestable. It reshapes itself quietly to match whatever the price did last month, and you never notice because there is no record to check it against.
Publishing it fixes that. The reasoning is dated, public and unedited, so in a year I can tell the difference between being right and having remembered it that way.
Sourced From Filings, Not From Opinion
The company facts on each page come from that company’s most recent annual report on Form 10-K, and every page says so and says when it was read. The token pages take supply, all time high and all time low from CoinGecko, with the date on the page.
That constraint does more work than it looks like. A 10-K makes a company describe its own segments, its own revenue lines and its own risks in language its lawyers signed off on. NVIDIA is the one that says revenue is concentrated in a small number of large direct customers. Amazon is the one that says AWS supplies most of the operating income.
You will not find a sharper bear case than the risk factors section of the thing you own, written by the people who own it too.
Why No Price Appears Anywhere
A number printed into a static page is wrong within the hour. The live table on the investing page quotes every position, so the position pages link to it rather than duplicating it into something that starts rotting the moment it publishes.
There is a second reason. A page with a price on it becomes a page about the price. Take the price off and the only thing left to read is whether the reasoning holds, which is the only part that was ever transferable.
Where The Concentration Comes From
The single names are companies whose products sit inside the businesses I run every day. That is a real information advantage, not a hunch.
Five positions, five reasons: compute, energy and autonomy, distribution, logistics and cloud, and software that is hard to remove once installed. Four themes for five positions, and I have not published a theme for the fifth because I have not settled one. An invented fifth theme would be a worse page than an honest gap.
That is the standard the whole set is held to. Say what is known, name the source, and leave the hole visible where there is one.
None of it is advice. It is a record of decisions with the reasoning attached, which is a different thing.
Common Questions
What is on a position page?
What the company does, how it makes money, who its customers are, and the risks it discloses in its own filings. For tokens: what it is, who issued it, supply, all time high and low, and the risks.
Why is there no price on them?
A number printed into a static page is wrong within the hour, and a page with a price on it becomes a page about the price. Live prices for every position sit in one table on the investing page instead.
Where do the facts come from?
Company facts come from each company’s most recent annual report on Form 10-K. Token supply and all time high and low come from CoinGecko. Every page names its source and the date it was read.
Do you publish the bear case?
Yes, and it comes from the company itself. Each page carries the risks that business discloses in its own filings, which is usually a sharper bear case than anything written from outside.
Why does one position have no theme published?
Because I have not settled one. The five single names sit under four published themes, so one is missing rather than invented. An honest gap is a better page than a made up reason.
