370,000 words on investing, 186 articles

Your investing bible

I’m writing you from Omaha.

Because of the busy schedule over here, I won’t be writing my usual articles this week.

So I figured it’s time to add some much-needed structure to what already exists.

It has taken more than 2 years to write it all, but Substack is not the best for easily navigating it.

This page will help you with that!

Articles with a * are paid. If you want access to the full library ⬇️

Categories: Start Here · Portfolio Performance · Stock Deep Dives · AI Tools for Investors · Investment Ideas · Frameworks · Lessons from Great Investors · Earnings Updates

Start Here

New to 100 Bagger Hunting?

These are the foundations of how I think and invest.

• How to hunt for 100-baggers, an investment check-list — A full checklist for hunting 100-baggers — the original.

• 100-Baggers, where are they born? — Where 100-baggers actually come from — the common traits.

• How to hunt for 100-baggers — Updated 100-bagger hunt with 50 companies from Joel Greenblatt.

• My 100-bagger investing philosophy — The core philosophy behind every pick on this newsletter.

• The 8-step AtmosInvest Investment process — My 8-step investment process, start to finish.

Portfolio Performance (most recent first)

Annual, half-year, quarterly, and monthly updates on how the portfolio is doing.

• NEW April 2026 portfolio review* — Atomical Capital reveal — and a candid portfolio update.

• Quarterly video Update* — Q4 2025 quarterly video update for subscribers.

• 2025 was crazy — A wild 2025 reviewed, with lessons carried into 2026.

• Up 71%, End of year Portfolio Update (Jan 26)* — +71% for the year — what worked, what didn’t.

• Pro Q3 2025 Update* — Q3 2025 portfolio review for Pro members.

• Monthly Portfolio Update (Dec 25)* — December 2025 — up 18% on the month.

• Monthly Portfolio Update* — Monthly portfolio check-in with position-sizing commentary.

• Quarterly Call Q2 2025* — Q2 2025 quarterly call for Pro members.

• Half Year in: 6 to 25% YTD* — Mid-2025: from +6% to +25% YTD, plus a 20-bagger I missed.

• Q1 2025 Quartely call* — Q1 2025 quarterly call recording.

• 100-bagger hunting - 5 takeaways from 2024 — 5 takeaways from 2024 — mistakes to avoid.

• Half-year review - 11 companies - still investible? — 11 portfolio companies reviewed — still investible?

• 2023 Annual review: Investment mistakes and goals for 2024 — 2023 in review: mistakes made, goals for 2024.

Stock Deep Dives (most recent first)

Individual company analyses, destination analyses, and new buy pitches.

• Data infrastructure 5x play* — A data infrastructure play derisking into a potential 5x.

• This software company, impervious to AI, has never been cheaper* — A software company AI can’t kill — never been cheaper.

• A double or triple, hidden from the markets* — A base business with a hidden future-growth business layered on top.

• Important info on the 10x opportunity* — Addendum to the 10x opportunity — engineering data matters.

• A data infrastructure 10x opportunity* — The setup for a potential 10x in data infrastructure.

• 172% upside for this hidden serial acquirer* — CareCloud: 172% upside if the turnaround delivers.

• Industry roll-up at a 20% free cash flow yield (and poised for growth) — Industry roll-up at a 20% FCF yield and still growing.

• Weight watchers, value trap or multibagger? — Weight Watchers: value trap or multibagger? My take.

• If Constellation Software and SAP had an Italian child...* — An Italian serial-acquirer that looks like baby Constellation + SAP.

• Update on one of the best risk-reward setups out there* — Update on one of my highest-conviction risk/reward setups.

• Hidden Earnings power about to be unleashed* — Tiny, quality, and an earnings inflection coming.

• Poised for 2,500% returns like Costco? — Long runway, Costco-style compounder potential.

• A data center liquid cooling play — A data center liquid cooling pick with real tailwinds.

• Towards a multibagger with the twin engines* — Toward a multibagger with twin engines — Deep Dive part 1.

• Is Fiserv an easy double? — Fiserv — is it an easy double from here?

• Hidden serial acquirer up 125% in 6 months* — A hidden serial acquirer up 125% in 6 months.

• A small medtech company growing at 50%/year* — A small medtech growing 50%/year with purpose and profit.

• A double in 5 years with the potential for more* — A microcap with unique growth — double in 5 years, maybe more.

• David vs Goliath, David is winning and growing fast* — David vs Goliath: margins expanding, I’m buying.

• From a 200M to a 1 billion dollar Business: A roll-up in security growing at 43% per year* — Security roll-up growing 43% from $200M toward $1B.

• A fast-growing, under-the-radar (30% ROIC) serial acquirer trading at a P/E of 10* — 30% ROIC serial acquirer at a P/E of 10 — too good to be true?

• 55% revenue growth, 158% expected return. I’m buying.* — 55% revenue growth, 158% expected return — I’m buying.

• A small fintech accelerating earnings (+40% yoy)* — A small fintech with +40% YoY earnings — operating leverage kicking in.

• The n°1 stock pitch from Omaha* — The #1 stock pitch from Omaha — not what you’d expect.

• A mini-Palantir growing fast* — A mini-Palantir growing fast, with a smaller crowd watching.

• A microcap monopoly accelerating growth* — A microcap monopoly accelerating into a faster growth phase.

• A secretly growing net-net at an EV/EBIT of 3 — A net-net at EV/EBIT of 3 — secretly growing.

• Rearm Europe: A defense drone producer that goes kaboom (100% growth)* — A European defense drone producer with 100% growth.

• Fast-growing at 25%/year and a forward EV/EBIT of 3.3* — 25%/year growth at a forward EV/EBIT of 3.3. I’m buying.

• Another Pharma becoming a 70-bagger?* — Another pharma setup with 70-bagger potential.

• This microcap won’t stay micro for long…* — A microcap that won’t stay micro much longer.

• Dino Polska is accelerating! — Dino Polska is accelerating — the setup.

• The hidden monopoly is getting stronger* — Update: the hidden monopoly is getting stronger.

• A hidden monopoly promising multi-bagger returns — A hidden monopoly pivoting into something wonderful.

• One 100-bagger for you! — One potential 100-bagger — skill plus a little luck.

• An under-the-radar 20-bagger — An under-the-radar 20-bagger — what’s the next leg?

• A high gross margin software company trading at a PE of 7* — High gross margin software at a P/E of 7.

• Inmode Updated 30-page Deep Dive — InMode — full 30-page deep dive, updated.

• Epsilon Net - A 10-bagger. Can it repeat that feat? — Epsilon Net — a 10-bagger. Can it repeat the feat?

• Retail adventures in Poland: Is Dino still on track + a short position? — Is Dino still on track? Plus a short position.

• Lovesac - The fastest growing company in the furniture industry- A destination analysis — Lovesac — the fastest growing furniture company.

• Inmode Update in 7 steps: Beautiful devices and nasty lawsuits — InMode in 7 steps: beautiful devices, nasty lawsuits.

• Till death do us part: A multi-bagger in the funeral industry? — Fu Shou Yuan — a multibagger in the funeral industry.

• Kaspi – The future Wechat of Central Asia? – A destination analysis — Kaspi — the future WeChat of Central Asia?

• Tinybuild (TBLD) dropped 96% in price since its IPO. Is this the beginning of a turnaround? — Tinybuild down 96% — is this the turnaround?

• Adyen: A destination analysis, where is it headed after Investor Day? — Adyen — destination analysis post investor day.

• Inmode: destroy the long thesis, 7 risks to consider, selling rules, and Q3 update — InMode — 7 risks, selling rules, and a Q3 update.

• Dino Polska: Where is it headed? A destination analysis — Dino Polska — destination analysis.

• Deep dive into Inmode: Multi-bagger or value trap? — InMode — the original deep dive: multibagger or value trap?

• Maison Solutions Inc. - a road to multi-bagger delights? — Maison Solutions — a road to multibagger delights?

• CD Projekt: Taking the company to the next level? — CD Projekt — taking the company to the next level?

AI Tools for Investors

How I use AI (GPT, Claude, Perplexity, Grok) to accelerate stock research. Love AI for investing?

➡️I have a dedicated newsletter on the topic: Invest with AI.

• Better Call Grok: 5 prompts to analyze a stock in less than a minute — 5 Grok prompts to analyze a stock in under a minute.

• 5 steps to accelerate your stock research with Perplexity AI — 5 steps to accelerate stock research with Perplexity AI.

• Perplexity Finance VS GPT-5—here’s what truly wins — Perplexity Finance vs GPT-5 — which wins for research?

• 3 prompts to find hidden winners — 3 prompts to find hidden winners.

• GPT5.2 for stock analysis is here… — GPT-5.2 for stock analysis — plus a descent into cybersecurity.

• GPT5: Will it supercharge your stock analysis?* — GPT-5 applied to The Trade Desk (TTD).

• Measure pricing power in 1 minute with a simple prompt — A one-minute prompt to measure pricing power.

• A 4-step AI enhanced stock analysis process — A 4-step AI-enhanced stock analysis process.

• 📊5 investing tools and the dangers of bad data quality — 5 investing tools — and the dangers of bad data quality.

• Is AI going to kill your favourite SaaS company? — An AI-resilience checklist — is your favorite SaaS safe?

• Will your portfolio companies die by AI? — Will your portfolio companies die by AI?

Investment Ideas

Screens, lists, and roundups — raw idea flow to dig into.

• NEW A death-focused serial acquirer: recession-proof — Death and taxes — a serial acquirer in death care.

• 72 quality companies generated using Buffett’s checklist — 72 quality companies generated with Buffett’s checklist.

• Peter Lynch’s golden rules: 41 Fast Growers on the cheap — 41 fast growers on the cheap — Peter Lynch’s rules applied.

• 50 Wide MOAT Companies, which one reigns supreme? — 50 wide-moat companies — which one reigns supreme?

• Top 4 favorite stocks to own forever — Top 4 favorite stocks to own forever.

• 3 companies inflecting towards high ROIC — 3 companies inflecting toward high ROIC.

• 20 Founder-Led Companies: The one skill you need to look for! — 20 founder-led companies and the one skill that matters.

• 5 watchlist Companies and a Quality Investing Strategy — 5 watchlist companies and a quality investing strategy.

• 1-foot hurdles: 192 companies with an FCF yield > 100% — 192 companies with an FCF yield > 100%.

• TOP 2 “Lynch” fast growers to buy* — The top 2 Lynch-style fast growers to buy now.

• Blooming Ideas: Springtime Investment Collaboration — 7 investors, 7 companies of all sizes — a collaboration.

• 100 Software companies tested for AI resilience — 100 software companies stress-tested for AI resilience.

• 3 Tollway companies - Buffett’s favorite type of business — 3 tollway companies — Buffett’s favorite business model.

• 1 potential multi-bagger and a Zebra — 1 potential multibagger and a turnaround Zebra.

• 🥢Japan, found 3 gems in the rubble? 💎 — Japan — 3 gems found in the rubble.

• 142 serial acquirers to discover* — The database — 142 serial acquirers to dig into.

Frameworks

The reusable checklists, mental models, and tools I use to evaluate companies.

Finding Great Companies

• The alchemy of multibaggers - Which factors can help us find them? — The factors that help find multibaggers — from theory to money.

• Hunting for global stocks that return 1,000% — Hunting globally for stocks that return 1,000%.

• Why unit economics matter when searching for multi-baggers — Why unit economics matter for multibaggers.

• Picking the right wave for better returns — A 7-step checklist for picking the right wave.

• How a Modified Lynch Strategy Could Transform Your Portfolio (While You Do Less Research) — A modified Lynch strategy — more edge, less research.

• 5 steps to pick a software company — 5 steps to pick a software company.

• A 3-step ranking system to beat the market — A 3-step ranking system to beat the market.

• 10 key questions to discover the most profitable yet overlooked companies — 10 questions to uncover overlooked cash-rich companies.

• A ranking system to beat the market — A market-beating ranking system: S for Sales Strength.

• Fantastic MOATS and how to find them — Fantastic MOATs — and how to find them.

Valuation & Multiples

• To boldly go, beyond ROIC: what to do? — Beyond ROIC — what to do when it isn’t enough.

• Stop using the P/E multiple — Stop using the P/E — here’s the one multiple to rule them all.

• Are discounted cash flow models useless? — Are DCF models useless? The competitive advantage period.

• Unlocking 633 Billion USD - The cash conversion cycle and why you should care as an investor — Cash conversion cycle — why it matters, with $633B at stake.

• 6 things I learned about ROIC and how it can help identify a 100-bagger (applied to Inmode Ltd) — 6 things about ROIC — applied to InMode.

• 11 takeaways by applying Musk’s ‘first principles thinking’ to the P/E-ratio — 11 takeaways applying Musk’s first principles to P/E.

• The 6 dangers of Return On Equity (example: Dino Polska) — The 6 dangers of ROE — Dino Polska example.

• The valuation of a fine dining restaurant - Hof Van Cleve — Valuing a fine dining restaurant — Hof Van Cleve case.

Management & Capital Allocation

• A Definitive Spinoff Checklist towards 1500% IRR — A definitive spinoff checklist — Marriott case study.

• Show me the incentives, and I’ll show you the outcome, a checklist to evaluate management — A checklist to evaluate management incentives.

• A 10-step checklist you can use to evaluate management capital allocation to make better investment decisions — A 10-step checklist to evaluate management’s capital allocation.

Buying, Selling & Position Sizing

• Position sizing for massive returns — Position sizing — the most underused lever for returns.

• 5 steps to avoid stupid mistakes before buying in the markets — 5 steps to avoid stupid mistakes before you buy.

• A stock investor’s n°1 secret weapon for excess returns — An investor’s #1 secret weapon for excess returns.

• When to sell a position and boost returns? — When to sell a position — and how it boosts returns.

• A strategy to increase your holding periods and get better returns: The Reactor Portfolio — The Reactor Portfolio — a strategy to increase holding periods.

Mindset & Mistakes

• I missed a 10-bagger in 6 months (IRR = 9900%) — I missed a 10-bagger in 6 months — make sure you don’t.

• 5 easy steps to multibagger returns — 5 easy steps to multibagger returns — wisdom from India.

• The one mistake 99% of investors make — The one mistake 99% of investors make — I made it too.

• 10 lessons from Darwin for 20% yearly returns — 10 lessons from Darwin for 20%/year returns.

• From SpaceX to Einstein and how to gain an edge in investing — From SpaceX to Einstein — how to think for yourself.

• Quality traps and how to avoid them to protect returns — Quality traps — and how to avoid them.

• 7 things to AVOID in the stock market (in 7 minutes) — 7 things to avoid in the stock market — in 7 minutes.

• 1 mistake I made and 7 easy tactics to make better decisions in investing — 1 mistake I made and 7 tactics for better decisions.

• 5 ways to tame our stone age brain — 5 ways to tame our stone-age brain for better returns.

Lessons from Great Investors

Takeaways from the masters: Buffett, Lynch, Greenblatt, Karman, Kantesaria and more.

• A simple strategy that beats the market — A simple strategy that beats the market — Polen Capital.

• 5 takeaways from Lynch’s 29% CAGR to find multibaggers — 5 takeaways from Lynch’s 29% CAGR — life cycle investing.

• How to break the rules to find 100 Baggers — Break the rules to find 100-baggers — from one of the best books ever.

• 6 lessons from a 1000-bagger — 6 lessons from a 1,000-bagger. Yes, a thousand.

• Growth, value, or quality, is all useless. The road to a 29% CAGR — Growth, value or quality — useless. The brilliance of Peter Lynch.

• Stop Index Investing! — Stop index investing — 5 lessons from Seth Karman.

• Gates & Buffett: How to invest, when you have little time — Gates and Buffett — Return on Invested Time.

• 5 lessons on “next level quality investing” towards a 15% CAGR — 5 lessons on next-level quality investing — Dev Kantesaria.

• Divesting, Buffett’s most powerful capital allocation skill — Divesting — Buffett’s most powerful capital allocation skill.

• Finding multi-baggers: 7 lessons from breaking down Paul Andreola’s investment strategy — 7 lessons from Paul Andreola’s multibagger strategy.

• 9 lessons for investors: How farmers yield higher returns — 9 lessons for investors — how farmers yield higher returns.

• 9 takeaways from the deals of Warren Buffett before his retirement at the age of 38. — 9 takeaways from young Buffett’s deals.

Earnings Updates

Quarterly and half-year check-ins on portfolio holdings.

• SAAS Software at a PE of 7 — H1 2025 update — SaaS at a P/E of 7.

• Our second-best bet, up 50% this year* — Our #2 bet — Q2 2025 update, up 50% YTD.

• A market-leading security roll-up aiming for a 5x in revenue* — IMB update — aiming for a 5x in revenue.

• From heaven to hell: $ADYEY and $INMD — Adyen and InMode — from heaven to hell, welcome to purgatory.

• 3Y Sales CAGR of 48%: Code Cracked* — Q2 2025 — the small fast-grower with 48% 3Y sales CAGR.

• Pharmx and sigma sign strategic partnership* — PharmX x Sigma partnership — what it means for PHX holders.

• Adyen H2 earnings ($ADYEN/$ADYEY) — Adyen H2 earnings — expanding margins.

• A banger quarter for CareCloud* — CareCloud Q3 2025 — a banger of a quarter.

• The security roll-up, is it a buy?* — IMB Q1 2026 — the security roll-up, is it a buy?

• Pharmx earnings update - Thesis aligment review* — PharmX H1 FY26 — earnings analysis.

• Adyen update in 3 minutes + Do you rank your stocks? — Adyen update in 3 minutes — buy, hold or sell?

• IMB update - thesis alignement review* — IMB H1 FY26 — thesis alignment review.

• A solid quarter, time to buy more of this high ROIC serial acquirer?* — A high-ROIC serial acquirer — solid quarter, buy more?

• Robot Payment - Addendum to quarterly update* — Robot Payment — addendum with IR feedback.

• A prime example of operational leverage* — Robot Payment Q3 2025 — operational leverage in action.

May the markets be with you, always!

Kevin