About me
Hi there. My name is Andy. I'm an investor with a long-term focus on finding great business at great price. My portfolio started in December 2019 the performance until end of Q1 2021 was ~230%. My current holdings are Ergomed, NakedWines, Rimini Street, CEL-SCI, Accsys Technologies and Avadel Pharmaceuticals.
Several words on my investment style:
I only invest in businesses that make a positive impacts on the world.
I like expanding my circle of competence instead of staying within it. For me, the biggest interest of investing is the opportunity to learn new things.
I like 3 themes: tech, health care and climate change.
I seek to build a concentrated and diversified portfolio:
Concentrated in number, around 5, 6, 7 names
Diversified in characteristics (geography, underlying businesses, etc…)
I systematically size my positions based on upside, downside and probability of success. Those factors combined define my conviction. Bigger conviction, bigger allocation.
I believe that deeply understanding a business is the best way to manage the risks. Hence, I try to understand as deeply as I can about the businesses that I own.
I like to combine compounders with explosives:
Around 80% of the portfolio is allocated to compounding businesses, those which generate cash, have long run-away, have able an honest and aligned management (ideally owner-operator), and have strong competitive advantages.
Around 20% of the portfolio is allocated to explosive businesses. Those businesses are riskier with a possibility of 100% permanent capital loss. Some businesses have not even generated revenues / cash yet but offer a huge upside potential + high probability of sucess based on their specific situations.
I like to keep things simple: only common shares, no options, no short positions.
I do try to find ideas myself but also but recognize that it’s usually better taking ideas from other credible investors. I believe applying my own filter to others’ credible increase the chance of success and help avoid falling into my blind spot.
On my personal background, I was born and grew up in Vietnam before moving to France 13 years ago. I’m currently working as corporate finance manager in a large financial multinational. Investing is currently my side activity but my dream is to move to full time in the next few years.
I’m in my early 30s now and have a lovely little boy from whom I borrow all the drawings for this blog.
Hope you’ll enjoy this blog and find useful information for your own investment journey.
In the meantime, tell your friends!