Dallas Value Investor
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I have been investing since 1998 (age 16) when I saved nearly all my money from working on my winter break from high school, and invested it according to the value investing principles I had read about in Warren Buffett’s shareholder letters and books about value investing. After high school, I attended Southern Methodist University (SMU) in Dallas, Texas, where I graduated summa cum laude with a degree in finance. Post graduation, I worked in investment banking for two years (helping companies raise financing, buy other businesses or sell their businesses) before joining a private equity and debt investment firm, where I have worked for three years. My investing philosophy has been developed through my (i) insatiable ...More reading of books written by and about prominent value investors and their investment philosophy, (ii) 11 years of public market investment experience and (iii) four years of private equity experience, where I have invested and/or manage over $625MM of investments in 6 companies.
- Description: Newsletter Author. Trading frequency: Infrequent
- Interests: Stocks - long
Matt Darrah's Investment Newsletter I publish an investment newsletter that provides, via e-mail, one investment idea every month to my readers. I select investments based on the value investing principles espoused by Warren Buffett, Joel Greenblatt and Glenn Greenberg, (i) investing in good businesses (ii) with management teams who wisely ...More
allocate capital (iii) that can be bought at a cheap price. I scour the market for investing ideas every month in order to present one to you, but I will not lower my standards of what constitutes a good business, management team, and/or price out of a forced necessity to have an idea every month. When I do not have an idea for a particular month, I will write up an investment idea that I looked at and passed on, and discuss the reasons I was not able to find a suitable opportunity. Also, because the price paid determines the ultimate return of the investment, newsletters go out as soon as I make a buy or sell decision to ensure you buy or sell at an acceptable price, and thus publication of this newsletter does not follow a typical periodic schedule. For instance, it is possible that the November newsletter will come out on November 1st, but the December newsletter may not be published until the 21st, as the timing of the letter is dictated by me finding of quality ideas, not the other way around. This newsletter represents a summary of several weeks of extensive due diligence and valuation work, so please feel free to contact me if you have any questions or would like further details on the work I performed. I have not included the detailed build-up of calculations, etc in order to make the newsletters less cumbersome to read. The fact that I do not force myself to send out lower quality ideas just to have an idea each month and that I do not follow a periodic schedule, I believe represents a considerable competitive advantage over other subscription newsletter publications. You do not want me to simply publish an OK idea each month. Instead you would rather have my very best ideas that represent the best values. To quote Charlie Munger when discussing building Berkshire Hathaway - “If you took our top fifteen decisions out, we’d have a pretty average record. It wasn’t hyperactivity, but a hell of a lot of patience. You stuck to your principles and when opportunities came along, you pounced on them with vigor”.
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