500 Hours Project

Sub-institutional investing by a Sub-terranean man

What is 500 Hours?

I am borrowing from my sleep, weekends, and personal time to create (another) Substack blog. Over the next year, I am hoping to offer something (hopefully) differentiated by writing about ~10 investment ideas that are Institutionally Constrained.

Let’s find the best ideas before the bigger guys.

I work for a sub-institutional, concentrated fund and it generally takes me about 50 hours to get a good initial feeling about a company. Instead of keeping the research internal, I want to experiment with socializing the investment process to see if it can be improved.

Most importantly, at the end of 500 hours, hopefully I/you will have gotten to know each other better and built a stronger investment community.

Key Filters

In order to make this project more impactful, I wanted to apply the following 5 filters to maximize the advantages in deploying new capital:

Ø    Definable constraints by Institutional investors

Ø    Secular growth stories

Ø    Internationally biased

Ø    Higher Risk / Higher Reward

Ø    Multi-year (ideally longer) investment horizon

What to Expect

·        10 or so ideas or roughly 1 per month

·        Cordial responses even with differing opinions

·        Occasional Twitter Spaces / Live discussion

·        No cost!

Please feel free to submit ideas!

Do Not Expect

·        Portfolio management decisions

·        An outsourced analyst at your beckoned call

·        Troll behavior

About Me: I am a recovering sell side research analyst and investment banker who did a short stint in private equity before finally finding a home in a bootstrapped concentrated private fund.