Through this service, I will provide complete access to my investment research process and portfolio decision-making. I will post conclusions from new research ideas (along with my financial model and planned course of action), as well as periodic updates on current portfolio holdings. In addition, I will tell subscribers before I make any portfolio changes, with the rationale for both sides of the trade (what I’m buying, what I’m selling, and why). Finally, I will provide quarterly updates that detail each position, its weighting, and portfolio returns.
In a nutshell, I will share ALL research and portfolio actions with subscribers.
My expectation is two posts per week. The goal is to ensure the value of the service meaningfully exceeds its cost ($49 per month or $349 per year).
So, with that out of the way, let me tell you more about myself. My name is Alex Morris, but most people online know me by my pseudonym, “The Science of Hitting”. My story starts in 2007 during my early days as a student at the University of Florida. After a few years in college, I stumbled across the work of Warren Buffett, Charlie Munger, and Peter Lynch. Shortly thereafter, I changed my major to Finance, and in 2010, I began writing articles for Gurufocus.
At first, it was just a convenient way for a college kid to make some spending money. But I quickly realized that writing and publicly sharing my thoughts about the world of business and investing improved my analytical abilities and communication skills. I fell in love, and have continued writing ever since.
I tacked on the CFA designation and a MBA along the way, but I honestly still believe that writing and sharing my research publicly has been the most valuable experience in my endless pursuit of becoming a better investor. In the past 11 years, I’ve written close to 800 investment related articles on Gurufocus (a big thanks to the readers who have been along with me for the ride).
But after much thought, I’ve decided that it is time to move to a new platform.
For those of you unfamiliar with my work, it’s probably helpful to share some background on my investment philosophy and what to expect from the service.
I spend my days searching for high-quality businesses that are misunderstood or underappreciated, providing the opportunity for better than average returns over the long run (my two largest positions, Microsoft and Berkshire Hathaway, have been sizable holdings since 2011). In addition to having a long-term time horizon, I run a concentrated portfolio: currently, my five largest positions account for more than 60% of my equity allocation. To quote Charlie Munger, my preferred approach is “patience followed by pretty aggressive conduct”. I don’t make portfolio changes very often - but when I do, they are meaningful decisions.
My ideal investment would meet the following criteria: (1) operates in an industry expected to experience structural growth; (2) with attractive unit economics and high returns on incremental invested capital (ROIIC) as a result of sustainable competitive advantages; (3) run by individuals with skill, integrity, and a long-term time horizon; and (4) offered by Mr. Market at a reasonable price.
(My next post, “Returns and Lessons Learned”, will discuss where I’ve had past success, as well as where I’ve struggled. I will also share my portfolio returns.)
If you’re interested in examples of my work, I’d suggest some articles I’ve posted on Gurufocus, such as a five-part review of The Walt Disney Company (1, 2, 3, 4, and 5), Some Thoughts on Spotify (link), and a note from March 2020 (link).
If you have additional questions, please email (firstname.lastname@example.org).
When you subscribe to the service, new posts will be sent directly to your inbox.
NOTE - This is not investment advice. Do your own due diligence. I make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained in this report. Any assumptions, opinions and estimates expressed in this report constitute my judgment as of the date thereof and is subject to change without notice. Any projections contained in the report are based on a number of assumptions as to market conditions. There is no guarantee that projected outcomes will be achieved. The TSOH Investment Research Service is not acting as your financial, accounting, tax, or other adviser or in any fiduciary capacity.