FIRL

FIRL Pro’s April 2025 Performance

FIRL Pro is designed to save you time, cutting your research workload by up to 90% with easy-to-read stock write-ups.

You'll also gain access to exclusive management insights not available to the public.

Want to know what we’ve been buying and selling in our market-beating portfolio?

Check it out inside FIRL Pro.

More info: learn.firl.co/courses/firl-pro

Here’s a free sneak peek inside FIRL Pro: learn.firl.co/courses/freesample

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2 days ago | [YT] | 4

FIRL

What Charlie Munger Taught Me About Life, Wealth, and Avoiding Stupidity

Here are a few timeless mental models I learned from Charlie Munger that changed how I think about business, investing, and life:

On Living Well

“If you want a miserable life, learn from Mozart — spend more than you earn.”

Self-discipline with money is foundational to success and peace of mind.

On Long-Term Investing

“In the long run, it’s hard for a stock to outperform the business behind it.”

A business that earns 6% return on capital over 40 years will likely produce a 6% return for shareholders — even if you buy it cheap.

A business earning 18% over 30 years will reward investors handsomely — even if they pay a premium upfront.

On Great Founders

Why He Backed BYD: Munger’s investment in BYD (which made him 30x his money) wasn’t just about numbers, it was about the person behind the business.

He admired founder Wang Chuanfu for his intellect, grit, and the fact that he lived among his workers.

Munger compared Wang to Thomas Edison, Henry Ford, and Bill Gates.

On Property Investment

Munger and his partner believed...

Read the full article for FREE here: learn.firl.co/courses/take/firlbites/texts/6432844…

4 days ago | [YT] | 3

FIRL

The 2008 Financial Crisis wasn’t just a market collapse.

It was a masterclass in how debt, greed, and complexity can unravel the entire financial system. But for investors like Michael Burry, it was also a moment of clarity and conviction.

Let me share with you the most important takeaways I learned from studying the crisis and more importantly, from studying Burry’s mindset:

Lessons That Changed How I See Investing

~Government guarantees created false safety: Mortgage bonds were considered "safe" because if borrowers defaulted, agencies like Fannie Mae and Freddie Mac would cover the losses. But that safety only applied to prime loans — not the toxic subprime loans Wall Street started bundling.

~A whole industry existed to exploit borrowers: Consumer finance was less about helping people buy homes and more about trapping them in unaffordable debt so others could profit.

~The market didn’t learn the right lesson: After early crises, instead of stopping risky loans, banks simply sold them off faster to investors, keeping nothing on their books. "Make the loans, sell the risk."

~Burry didn’t just study Buffett — he internalized the real lesson: Great investing isn’t about copying others. It's about...

Read the full article for FREE here: learn.firl.co/courses/take/firlbites/texts/6415853…

1 week ago | [YT] | 1

FIRL

The Next Global Recession Is Coming

Here’s a quick update on the ongoing tariff drama and why it could be a real problem for us all.

Trump has just imposed a sweeping round of reciprocal tariffs on nearly every major trading partner. The only countries excluded?

Canada and Mexico: They were the first to be hit, but managed to negotiate a pause.

Russia and North Korea: Excluded due to existing sanctions.

The rest? They’re all on the chopping block.

Trump may extend a 90-day deadline for countries to respond — everyone gets the extension… except China. No surprises there. It’s his favorite enemy.

So far, Trump’s getting what he wants.

Countries are...

Read the full article for FREE here: learn.firl.co/courses/take/firlbites/texts/6399565…

2 weeks ago | [YT] | 2

FIRL

There’s a silent code followed by some of the most successful business builders of our time.

It’s not about shouting louder, raising more money, or adding more features.

It’s about focus. Discipline. And staying the course — quietly.

Here are some of the best insights I’ve picked up recently, from founders, investors, and the industrial giants of old:

1. When You Find What Works, Shut Up and Double Down

Once you find something that works, don’t broadcast it. Focus. Go deep. Keep it quiet. Execution is your unfair advantage — protect it.

2. Success Is Built with People, Not Just Capital

Faithful and earnest friends matter more than money. The work, the travel, the trials — those memories matter more than any exit.

Jeff Bezos once said: “If I have to choose between agreement and conflict, I’ll take conflict. It always yields better results.”

Sam Zell preferred to do deals with the same people over and over. Trust compounds.

3. Opportunity Doesn’t Knock Twice

Handled well, one opportunity leads to another. That’s how the best businesses grow — not by chasing...

Read the full article for FREE here: learn.firl.co/courses/take/firlbites/texts/6381691…

3 weeks ago | [YT] | 3

FIRL

Hello everyone there will be no LIVE tomorrow.

Selamat Hari Raya to those celebrating and happy holidays!

4 weeks ago | [YT] | 1

FIRL

FIRL Pro’s March 2025 Portfolio Performance

Whenever we discover these new ideas, we will share them with our Pro members immediately.

Find out the uncensored stocks we share with our FIRL Pro members!

More info: learn.firl.co/courses/firl-pro

Here’s a free sneak peek inside FIRL Pro: learn.firl.co/courses/freesample

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4 weeks ago | [YT] | 0

FIRL

Most investors make decisions based on what they see now — interest rates, inflation, bad headlines. But if you want to truly outperform, you need to think beyond that.

Welcome to the world of second-level thinking.

What is Second-Level Thinking?

It’s about out-thinking the average investor.

It’s not just knowing something — it’s knowing what others know, and how your view differs.

First-level thinking:
"Inflation is high, sentiment is bad → sell stocks."

Second-level thinking:
"Inflation is high, sentiment is bad → stocks are cheap. Buy now when everyone’s fearful."

The greatest investors — from Howard Marks to Warren Buffett — don’t just follow the news.

They interpret it differently.

My Personal Experience

I’ve seen this play out with stocks like...

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1 month ago | [YT] | 2

FIRL

If you had invested $1 in Nomad Partnership when they started, it would have grown to $33 today.

That’s a CAGR of 25.7% over 14 years—an absolutely insane return that beats almost every major investor, including Warren Buffett’s Berkshire Hathaway during the same period.

So what’s the secret? Here are some of the biggest insights I learned from their investment strategy:

1. The Power of Buying Cheap & Holding Long-Term

Only buy stocks at a 50% discount to intrinsic value, and ensure the intrinsic value grows at 10% per year.

If intrinsic value compounds at 10% yearly and the stock eventually reaches fair value in 5 years, the return would be 26% CAGR. Even if the stock stays flat for 5 years, you’d still get 13% CAGR just from the growing intrinsic value.

Buying cheap + growth + patience = massive returns.

2. The Formula for 10X Returns?

Read the full article for FREE here: learn.firl.co/courses/take/firlbites/texts/6345529…

1 month ago | [YT] | 3

FIRL

Last week, I wrote about why the market is crashing, but I didn’t go into detail about when it will end.

So here’s my take.

The 2 charts will show you how long the correction will last using past events.

The first is the 10 minus 2 treasury yield chart.

Simply explained, when the numbers are positive and it’s growing, it means more investors are selling 10 year treasury bonds (not very optimistic with the long term outlook) and buying more 2 year treasury bonds (prefer bonds because of it’s risk free and they think the returns are better than stock market in the next 2 years).

The first tell-tale sign is...

Read the full article for FREE here: learn.firl.co/courses/take/firlbites/texts/6325561…

1 month ago | [YT] | 2