Buying An Anti-fragile Business

High chance of tripling in size thanks to its enduring business model and anti-fragility against perennial market turbulence (overstated by the market).

Hi, I am Trung. I deep-dive into market leaders that passed my sleep-well checklist. I follow up on their performance with my Thesis Tracker updates, and when the right price comes, I buy them for the Sleep Well Portfolio, which I am building for my daughters to redeem in 2037. I disclose my reasoning for all BUY and SELL (ideally never). Access all content here.

---

Hi everyone,

Yesterday, I bought a sleep well business that:

• Scored 15/20 points on my sleep well checklist.

• Possesses all four moats - scale/cost, network effects, switching cost, and brand.

• Beaten the best competition you can think of to compound FCF at 44% since IPO.

• On track to grow 20%+ growth for 5-10 years and available at >25x FCF with net cash balance sheet.

In case you missed it, recently, I shared the following:

• Seven lessons from Ralph Wanger (16% CAGR over 30 years)

• Five Timeless Lessons from Terry Smith (15% CAGR over 14 years)

• The Most Sleep Well Investment Of LATAM.

• Sleep Well Portfolio Sept Update.