Value Ventures: A Prologue
Hello Macro Ops World! Like the first program to run on the original Macintosh, my introduction into this growing community of people striving to be the best they can be inside and out of the markets isn’t fancy. My name is Mr. Bean. No, it’s not the name I wanted -- I would’ve rather preferred something sexy, like ROGUE. However, Chris D made it very clear that you don’t pick your nickname, your nickname picks you. That being said, I’m thrilled to join the MO team and look forward to becoming both a better investor and human. So what is Value Ventures? Value Ventures will be Macro Ops’ one-stop-shop for all things value investing. Think of it like Bruce Greenwald and Michael Burry having a love-child in which pillow talk revolved around balance sheets, not bed sheets -- you get the picture. Value investing has many definitions and everyone is quick to give you their views on the subject. Out of all the movers and shakers in the industry offering their definition, spin-off OG Joel Greenblatt’s makes the most sense: Trying to figure out what a business is worth, and then paying a lot less for it. I could stop there -- that’s it. Value Ventures is all about trying to figure out what a business is worth, and then seeing if we can pay a lot less to own it. Shares aren’t blips on a Bloomberg screen or tickers on a chart; they’re physical pieces of ownership in real businesses. This sense of ownership is vitally important to us as value investors. Without this “ownership” level of conviction in the businesses we buy, we won’t be able to stomach the downturns that inevitably come over time. As value investors our time horizon is far off in the distance -- perhaps 10, 20, or even 30 years. This time frame gives us a tremendous edge against the fast-paced market shakers that are prodded out on CNBC every day. What Content Can I Expect to Receive?You might be thinking, “that sounds all good and dandy, Mr. Bean ... but what kind of content should we expect from you?” Excellent question! You should expect deep work on individual businesses, topical musings on psychology, physical health, mental models, business moats, and the like. Finally, you’ll get a heavy dose of smaller write-ups on off-the-beaten-path companies such as spin-offs, SPAC’s, reverse mergers, and micro - caps. Wherever there’s value, we’re willing to venture. I look forward to learning and improving each and every day with the MO community. You can reach me on Twitter @marketplunger1 or email mrbean@macro-ops.com. Stay Venturing!P.S. If you want to take a look at my pre-trade value checklist click here for a free download!
