The Architecture of High-Conviction Allocation

"How did you go bankrupt?" "Two ways. Gradually, then suddenly."

This will be a “best ideas only” bio substack providing actionable, highly digestible and high conviction value to investors focused on quality not quantity. Disclaimer: Nothing in this article (or substack) is considered investment advice and is solely the opinion of the author.

“In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could." — Rudi Dornbusch

I’m writing to address recent questions I’ve received regarding my portfolio allocation process, and how or why I decide to press in certain names over others. While there is no right or wrong answer to any particular strategy, this is very personal to my investing style which is different from others in this space solely focused on biotechs or tools. Rather than listing specific holdings, I want to focus on the underlying principles, as they offer the more enduring lesson.