Vancouver Value Investor

Be like Einstein when trying to test your investment hypothesis. "No amount of experimentation can ever prove me right; a single experiment can prove me wrong" - Einstein Seeking to destroy your ideas > seeking to confirm ideas

Thanks for sharing, Jack. I am sorry to hear about your mentor passing. You've got a really impressive track record for such a young investor. Very forward looking. You focus on fundamentals and ignore stock price noise. You remind me a lot of Chris Begg. He takes Charlie Munger's investment philosophy & takes it a step further. He calls it value 3.0

It’s a long story. I was a senior in college (‘21). My boss at my internship, who has since passed… RIP, became my mentor for investing during the early days. I asked him about which stocks he owned. AbCellera was one of them. I didn’t know shit about investing or basics of biology at that point but he said they used humanized mice and I thought that was really cool, so I bought some shares and slowly learned about them little by little. As time went on, I was completely immersed in learning about Palantir and had already came to the conclusion that in a complex environment, LLMs require orchestration and are best fit for helping a user understand complex, structured, information on top of “guardrails or truth”. It was somewhere in the spring of ‘24 that I was reading zero to one and arrived to the chart shown below. I had learned enough about about AbCellera to know they used single cell analysis to do a deep search though the immune system rather than design from scratch; effectively using Mother Nature as the computer to generate antibodies, using their microfluidics to conduct experiments at the single-cell-level and using AI as a tool to make sense of this already-validated information on top of it. When I saw this chart, acknowledging how Mother Nature is infinitely random and complex, that when it clicked for me and I came to the conclusion that AbCellera’s method of applying AI 100% aligned with my belief as to how it should be used in a complex high-stakes environment: To understand structured, validated data… rather than create… doing a deep search though the natural immune response generated by Mother Nature herself, which I believe is superior to the creations a computer would ever come up with. Knowing Thiel sat on the board gave me even more confidence that this must be the case, as I believe he has had a similar outlook with the benefits and limitations of AI. That’s how it all started, haha.

I asked @tyler_bosserman about how he stumbled across the company. And I'm curious @JackPrescottX, to hear about how you discovered $ABCL? especially since you've been invested for 5+ years While we are at it, how about you @iHooghvorst ?

Thanks for sharing uncle scrooge. If i discovered the company when you did, I would of bought around then too. Kudos to you for holding/adding to a falling stock, a lot investors would of gotten scared out of it. You knew what you owned and understood that their was a disconnect between fundamentals and price. Thanks for sharing your wisdom with X over the years.

@BCValueInvestor @tyler_bosserman @JackPrescottX @iHooghvorst Got my attention when they developed covid antibody medicine with Eli Lilly back in 2021. Started investing when they crashed to single digits. (7ish) Thought it was too cheap to ignore, but who knew lol

@emilymanzerrr Expensive = Usually means higher quality (not always though)

“Vancouver’s so expensive” yeah I mean hello this is the view

Nothing travels faster than the speed of light. This is why you always see lightning first and hear the sound waves of thunder second. The photons of light are simply faster than sound waves of thunder. 🤯🤯🤯

@signulll Not being stupid

whats the hardest part about being an investor?

And how about @ScrooogeUncle ???

Also thanks for all the due diligence, it has helped strengthen my conviction for $ABCL (or maybe my confirmation bias 😂)

Neither approach is wrong - but I fall into the 2nd category

Two types of people: - People who see white space on their calendar and feel the need to fill it - People who see white space on their calendar and feel the need to protect it at all costs

@sidecarcap "Skate to where the puck is going, not where it has been" - Wayne Gretzky

Management quality and culture determine where a company is going. The financials are literally what has happened in the past.

@ChipYVR please save $LULU We need a product-first CEO who can see the world 5-10 years from now Not a CEO who is profit-first and will succumb to quarterly short-termism of Wall Street.

So good. Thanks for sharing. The downside is arguably the most important question. New investors get into trouble when they fantasize only about the upside and ignore the downside. When they get burned because they were too dreamy about how much money they were going to make, they become a lot like Mark Twain’s cat: “If a cat sits on a hot stove, that cat won't sit on a hot stove again. That cat won't sit on a cold stove either.”

@BCValueInvestor @TmarketL A sharper version is: What do I want to happen? What is most likely to happen? What will I do if I’m wrong?

Best book ever

"As a good rule of thumb, proprietary technology must be at least 10 times better than its closest substitute in some important dimension to lead to a real monopolistic advantage" - 0 to 1

@Giuliano_Mana “In my whole life, I’ve never found a way to convince someone who doesn't want to work hard to work hard” - Steve Jobs

You can't change the behavior of someone who simply doesn't care.

@BarrySchwartzBW That’s what Insiders at $CSU are doing. Be like $CSU insiders

No more complaining about down names with rising fundamentals. Man up and buy more and sit tight.

@ErnestWongBWM I’m curious why the big guns need to use debt to build data centers? You would think free cash flow would be more than enough for the buildout.

No slowdown in data center construction by the hyperscalers, and increasingly borrowing money to fund the buildout

@KennethLFisher We all need thick skin. "Assume life will be really tough, and then ask if you can handle it. If the answer is yes, you've won" - Charlie Munger

Quote for the Day: “A champion is someone who gets up when he can’t.”-Jack Dempsey #KFQuoteForTheDay