coffeecaninvestor

It probably took me a decade to figure out not to turn my portfolio over too much, stop trying to invest outside the US just for diversification, holding too much cash trying to time the market, and not paying enough attention to great mgmt/capital allocators. Now I try to find companies that I’d rather never sell, with good mgmt., are in the right industry, and aren’t at extreme valuations.

I enjoy Nelnet’s annual letter.

More FRPH

U Ultimately I was having trouble finding a decent idea for my coffee can portfolio DEO kind of fit the bill but didn't check all the boxes and I had a surplus of funds and needed to find two ideas this year. Usually I am only looking for one idea a year in the coffee can portfolio. A smaller cap company that checks more of the boxes after not having looked at it in a few years seemed more attractive so I decided to swap for it.

Sold DEO. This was a new position so I was able to get out with a small profit. I felt it might not be cheap enough given the low growth, and facing some LT headwinds.

Started a position in NKE, bought OTCM, and added to CPNG.

New CoBF member. Lurked as a guest for awhile but decided to get the membership recently (seemed like a good value investment). Been accumulating some NNI and FRPH.