Deep Insights.Rigorous Due Diligence.
Independent, uncompromised analysis on macroeconomics, global equities, and fixed income. Designed for the serious investor.
Macro Analysis
Top-down perspectives on monetary policy, inflation, and global liquidity trends.
Equity Research
Bottom-up fundamental analysis of public companies, focusing on free cash flow and moats.
Fixed Income
Yield curve reading and credit cycle analysis to uncover mispriced risk.
My Philosophy
At Due Diligence Capital Notes, I believe that superior returns are generated through dissenting from the consensus when the consensus is wrong.
My approach combines top-down macroeconomic analysis with bottom-up fundamental equities research, focusing heavily on cash flows and capital cycle theory.
Recent Publications
The latest deep-dives and market commentary.
Why I Invest on MSTR
Strategy (MSTR) operates as a highly aggressive, leveraged Bitcoin investment vehicle by using advanced financial engineering—such as At-The-Market (ATM) stock offerings, near-0% interest convertible bonds, and preferred stocks—to continuously accumulate Bitcoin. This strategy allows the company to tap into the massive fixed-income market to raise capital while minimizing stock dilution for existing common shareholders. As a result, MSTR frequently trades at a significant premium to its Net Asset Value (NAV) due to high demand for indirect Bitcoin exposure, index inclusion, and strong investor belief in its ongoing buying power. Ultimately, while MSTR offers a compelling opportunity to outpace standard Bitcoin returns for long-term believers, it remains a high-risk, high-reward play that demands a clear understanding of your own risk tolerance during market downturns.
The Solitude of Long-Term Investing: Why Conviction Trumps Noise
A reflection on the psychological fortitude required to hold assets through volatility, and why independent thought is the ultimate edge in investing.