Some links 8/2024
Rob Vinall’s RV Capital 2023 letter as always is a great read with soem controversial views (China, PDD, Carvana)
I have to admit that Augustusville “outbored” me with its write-up on German small cap Nordwest-Handels AG
Great list of the necessary attributes for a long term successful investment process from Flyoverstocks
A great reminder: Patience is key for long term investment success
Ben Carlson with 20 great lessons from 20 years of investing
Joachim Klement on “post eanings drift” in stocks that are dominated by retail investors
Good write-up on Var Energi from the “modern Investing” substack
value and opportunity 
VAR ENERGY: Fossil Fuels investments have gone insane for a while. The industry has been crushed because of irrational sentiment, pushed by the sustainability woke*, becoming un-investable (by many). This creates incredible value opportunities (maybe MMI007 feels compelled to do a series?), and I am getting traction on them.
— While no intelligent person will discuss our world would do great / much better with all-sustainable-energy, the question is how realistic is that. Sustainability is basically a Fairytale, and crude reality is that 80-90% of the world cannot afford sustainable energy, and simply they do not care whether the richest 1% can ski in Zermatt in 2040.
Video below makes clear that (unless there is a real energy revolution, ie. fusion?) there will be climate change. Forget about the rest. And disregard the wokes. Invest accordingly.
— Despite Sustainability is a Fairytale, you can still make money with sustainability-topics. As long as there is demand for sustainable stuff, there will be investment opportunities… Just remember these will not stop climate change.
– I am in Equinor, Phillips66 and considering others…
*Sustainability Evangelists, are a subclass of WOKE (those whose behaviors are based on feelings, not on rational/facts/figures). See https://www.youtube.com/watch?v=zJdqJu-6ZPo