The Compounding Tortoise

The Compounding Tortoise

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August 2025

Deep Dive - Lotus Bakeries
Discovering the fortune cookie - a prime example of reliable compounding
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Quick Pitch on a New Portfolio Idea
13-ish percent CAGR in NOPAT, proactive cash management, projected CAGR of >14%
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Why Investors Are Always Looking for a Catalyst
The Art of (Not) Selling, some elements from the Lotus Bakeries deep dive & thoughts on skin in the game
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Our 25 Most-Read Articles To Get Started
A lot of free resources to become a better quality growth investor
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The Art of (Not) Selling - Makings of a Multibagger
Letting time do its work - the paradox of expecting quick positive results
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Q2/1H 2025 - Constellation Software & Its Spin-Outs - Full Analysis
Truly impressive EBITA growth of 31% for CSI standalone (excl. Altera), highest since Q1 2024
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When Quarterly Results Drive Irrational Investor Behavior
You can't manage to get the perfect quarter
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Q2/1H 2025 - Harvia - Full Analysis
Temporary growth hiccup in US during April and May, focus on driving gross margin enables continued reinvestments
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5 Must-Read Papers for Quality Investors
Insights from Michael Mauboussin, Pim van Vliet, McKinsey, and others
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Why Investors Are Obsessed w/ Their Cost Basis - The Fallacy of Averaging Down
Sunk costs, outcome bias, mean reversion, and being hesitant to averaging up
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Q2/1H 2025 - Topicus.com - Analysis
EBITA margin supported by Sygnity + revisiting the expected IRR from Cipal Schaubroeck deal
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