1) My investment philosophy + Disclaimer -

I'm a full-time investor and my concentrated portfolio is comprised of (primarily founder-led) high growth companies with large addressable markets. I usually look for dominant businesses with a special sauce (moat) which allows..

2)...them to compound their revenues, cash flows and earnings for an extended period of time (multiple years).

Usually (but not always), such disruptive businesses operate in the technology sector and they are led by visionary founders with skin in the game.

When I invest,...

3)...it is always with the intention of holding indefinitely but the business world is unforgiving and capitalism is brutal; so in reality, my average holding period is a few years.

So, when do I sell?

(i) When a company's rev. growth < 15% pa
(ii) When the mgt. deteriorates

4)...(iii) When the 'moat' has been invaded
(iv) When I spot a new opportunity + need cash

Apart from the above scenarios, I remain invested in the companies and allow them to compound over time.

On macro, market timing, forecasts -

I started investing in the late 90s...

5)...and have yet to come across an individual who has accurately and consistently timed the economy and/or the stock market. Not one!

Over the years, many have tried to predict the future and plenty of well meaning people still try, but I've realised that...