Why I'm Halving My Largest Position

Ember Infrastructure wants to buy Ashtead Technology at 615p. One shareholder is telling the board to say no. I'm rethinking how much of the portfolio…

Oct 7 • Schwar Capital Research

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September 2026

Most Investors Get Margin of Safety Wrong

Misunderstood #1. Every investor quotes Graham's three-word motto. Almost nobody has read the chapter behind it, and the engineers who gave us the idea…

Sep 28 • Schwar Capital Research

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Revenue Up 24%, Backlog at a Record $142M, and a $90M Credit Line to Chase $100M+ Projects (NASDAQ: PPIH)

Perma-Pipe's second quarter: a clean operating beat masked by a one-off write-off, two new plants ramping, and the first-ever quarterly call with…

Sep 19 • Schwar Capital Research

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Up 100% In 76 Days: Revisiting The Rare Disease Thesis After The Run-Up

I initiated this position on June 19 at $30.70. It trades around $61 today. This is a look back at what I said, what actually happened, and which parts…

Sep 4 • Schwar Capital Research

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August 2026

Top 10 Lessons From Warren Buffett's Shareholder Letters

Forty years of letters, now a closed body of work. The lessons that survived contact with his own mistakes are the ones worth keeping.

Aug 25 • Schwar Capital Research

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July 2026

An Investor's Odyssey

With The Odyssey back in cinemas, it's the right moment to revisit the best investing talk most people have never read.

Jul 31 • Schwar Capital Research

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A New Position: Revenue Up 94%, Patented IP, 10x Capacity Locked In

Profitable, insider-aligned, debt-free, and quietly compounding a recurring revenue tail behind every device sold.

Jul 27 • Schwar Capital Research

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A Microcap At Its Earnings Inflection (With Free Defense Optionality)

Profitable, insider-aligned, debt-free, and quietly compounding a recurring revenue tail behind every device sold.

Jul 6 • Schwar Capital Research

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June 2026

My Top 25 Investing Books

25 books on risk, compounding, and thinking clearly under uncertainty.

Jun 22 • Schwar Capital Research

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NEW POSITION: A Rare Disease Compounder

A US-listed portfolio position, executing ahead of plan, with a freshly raised long-term vision.

Jun 19 • Schwar Capital Research

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The Pyramid: How I Actually Build a Portfolio

A companion piece to this month's portfolio update. The trades only make sense if you understand the structure they serve - so here's my structure…

Jun 15 • Schwar Capital Research

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June Portfolio Update: One Out, Three In

A busier month than usual. One position closed, two added to, and three brand-new names entering the book.

Jun 12 • Schwar Capital Research

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