Why I Started This Newsletter - And What I Am Actually Trying to Build.
A personal letter about the gap that bothered me enough to do something about it.
I want to tell you something I have not written about before.
Not a stock pitch. Not a portfolio update. Not a framework for how to read an earnings call.
Just the honest answer to a question I get asked regularly: why does this exist?
I work in transaction advisory. Due diligence, financial modelling, M&A. For years I have had a front-row seat to how professional investors think about businesses - not the narrative version that ends up in a press release, but the actual forensic version. What does the cash flow look like under pressure? Where is the real moat? What happens to margins when the cycle turns?
And then I would open my phone in the evening and read what retail investors were being served instead.
Tips. Hot takes. “This stock is going to the moon.” Screenshots of someone’s brokerage account. Articles that described a company’s “AI strategy” without once mentioning whether the business generated cash.
The gap between how professionals analyse businesses and what most retail investors have access to bothered me. Not in a condescending way. In a practical way. Because I have seen what good analysis looks like, and I know it is not that complicated to share.
You do not need a Bloomberg terminal to understand that 130% Net Revenue Retention means customers are spending 30% more every year without the company signing a single new contract. You do not need an MBA to recognise that a business with zero debt, $1B in cash, and a founder who has been running the company for 27 years deserves a different framework than a VC-backed startup burning $50M per quarter. You do not need to be a professional investor to ask: “what does the free cash flow actually look like?”
You just need someone to show you what to look for.
That is what The Multibagger Playbook is trying to be.
Not a tip sheet. Not a newsletter that tells you what to buy and when to sell. Something more useful than that - a weekly walk through the actual analytical process that separates businesses worth owning for a decade from businesses that look good in a headline.
Every Tuesday: one business, one question - could this be a 10-bagger from here? Not because the answer is always yes, but because asking that question forces a level of rigour that most investing content skips entirely. What is the moat, specifically? What happens to the bear case if the market turns? What does the weighted expected return look like across three scenarios?
Every Thursday: three businesses, three different sectors, three catalysts the market is currently ignoring. Fast. Specific. Numbers first.
Every Saturday: either a full forensic deep dive - business model from first principles, 100-bagger criteria, competitive moat, full valuation - or an unfiltered update on the Multibagger Model Portfolio. Including the positions that are down. Especially those.
I want to say something about the portfolio transparency specifically, because I think it matters.
Most investment content shows you the wins. The analyst who called the big move. The newsletter that claims 200% returns. Rarely do you see the positions that are down 42%, still held, with a detailed thesis check explaining exactly why.
The Multibagger Model Portfolio does both. When a position is underperforming, I write about it. When the thesis needs to be stress-tested in public, I do it in public. When I am wrong, I say so.
That is not easy. But it is the only version of this that I am interested in building.
Because the investors I respect most are not the ones who are always right. They are the ones who have a process that is honest about uncertainty, rigorous about evidence, and patient enough to let compounding work.
One more thing.
I started this newsletter because I believe that the information gap between professional and retail investors is not a fixed condition. It is a choice. A choice that gets made every time someone publishes a tip instead of an analysis. Every time a newsletter hides its methodology behind vague language. Every time someone treats their audience as followers rather than as people capable of doing the work if someone shows them how.
I made a different choice.
Every post here is built on the assumption that you are capable of thinking about businesses seriously. That you can handle a bear case. That you want the honest version, not the promotional one. That you are here to build something over years, not to catch the next 10% move.
If that is you - welcome. You are exactly who this was built for.
Disclaimer
This publication is provided for informational and educational purposes only and reflects the author’s opinions as of the date of publication. It does not constitute investment advice, a recommendation, an offer, or a solicitation to buy or sell any security, and it should not be relied upon as the sole basis for making investment decisions. The author is not acting as your financial adviser and does not provide personalized investment, legal, tax, or accounting advice. You should conduct your own research, verify all information independently, and consult qualified professionals regarding your individual circumstances before acting on any information contained herein. Investing involves substantial risk, including the risk of losing all or part of your invested capital. Past performance is not indicative of future results, and any projections, forward-looking statements, targets, or estimates are not guaranteed and may change materially. Certain information may be obtained from third-party sources believed to be reliable; however, no representation or warranty is made as to its accuracy, completeness, or timeliness. The author and/or related parties may hold positions in the securities discussed and may buy or sell such securities at any time without notice. All investment decisions are made solely at your own risk.