Forty-two years ago, David Ogilvy wrote the finest opening paragraph ever committed to paper:
When Aeschines spoke, they said, ‘How well he speaks.’
But when Demosthenes spoke, they said, ‘Let us march against Philip.’
Like the genius adman, I like writing when it compels people to action. Loaded gun sentences — that’s how I’ve always held the pen, even in English, which isn’t my native tongue.
I used to fill reams of paper in my previous life, crafting high-stakes prose to bring competing stakeholders into agreement on things they’d naturally resist. There are very few things I’d bet my bottom dollar on, but here’s one: words move more deals than spreadsheets ever will.
I’m saying this to remind you that nothing you’ll read here constitutes investment advice. I hold strong convictions that are often biased, fallible, and occasionally delusional. Caveat emptor applies twice when the merchant believes his own merchandise.
I spent the last decade consulting in private equity and M&A, saving like a miser and quietly building a small holding company from a thousand euros in issued capital. I had to learn to count beans. As Charlie Munger once said:
The first million is pure hell.
It’s grown into something respectable since then. It still ain’t much, but it’s honest work, and it pays for coffee, freedom, and a bit of peace. It also serves as a platform to explore wider opportunities.
As 2025 began, I turned forty and decided to flip the switch. I bought a country house somewhere in Western Europe and moved in with my wife and two children. There’s a 13th-century tower in the yard and a gorgeous river down the lane. We’ve never been happier.
I now run my miniature empire from here, surrounded by forests and old stones, and still consult for two longtime clients — one in the French Alps because I’ve long admired him, the other in the US because they always ship the best projects and tip very well.
I’m a value investor by religion and temperament, faithful to principles that are old, simple, and few. My mentor taught me to value a business the plain way — by counting the cash, and see what retained earnings produce. Good ol’ farmer common sense.
Everything I process passes through that lens. If something I say makes no sense to you, that’s probably why. We’re just looking through different telescopes pointed at different skies. I am by no means assuming that mine is any sharper than yours.
I started this blog to keep track of certain thoughts, perhaps connect with like-minded entrepreneurs and investors, and also see where the writing leads. Thank you for reading. If you’d like to comment on anything, you can reach me in inviolable secrecy here.