Moritz Drews

If you're a new follower, here's what to expect: I share my journey, covering learnings, successes, and mistakes, with a focus on durable growth. Rather than aiming for the highest Year-to-Date (YTD) returns, I aim for a high Compound Annual Growth Rate (CAGR) and becoming 1% better each day for decades to come. I discuss a variety of stocks, leaning towards those with a high likelihood of success over the next 10+ years, particularly favoring smaller market caps ($1b to $10b) for their potential as multi-baggers. While I write a lot about software, I try to avoid labeling and fixed thinking, remaining open-minded to all kinds of opportunities including unsexy supermarket chains with a high Return on Invested Capital (ROIC). Software as a Service (SaaS) with high Dollar Based Net Retention Rates (DBNRR) simply captivates me as it's still eating the world, and if I see potential upside, I'm on board. I also stay away from trading, dividend investing, crypto, speculation, and macro considerations in my investment decisions. My favorite investor so far is a living legend: Peter Lynch and his book 'One Up On Wall Street'. I'm dedicated to finding true happiness and peace of mind. While money doesn't buy it, it does ease many worries. If I can help you achieve that too, that's a big win. Thanks for joining me on this journey. Here's to an exciting 20+ years ahead!

1/ When I started investing at the end of 2018, there were many incredibly fast-growing companies (like Crowdstrike) with recurring revenues (sometimes over 100% per year) and rising margins. SaaS was still an unfamiliar term for many. (thread)

On AI disrupting SaaS I believe the main risk isn't customers building their own $DDOG or $CRM, but more SaaS vendors emerging to capture share from established horizontal software vendors. AI simplifies dev, intensifies competition, erodes pricing power, and compresses margins.

Loved this short essay by @bogumil_nyc: similar outcomes in investing, but wildly different journeys (12 min) open.spotify.com/episode/6w2Ba7…

FCF margins tell a different story once you add back SBC (“Buffett lens”). Some even flip negative despite premium valuations $S $SNOW $CRWD $DDOG $MNDY $IOT $ZS $PLTR $MDB $NET $TTD $AXON

Blended Portfolio - Sep'25 Added some new names, sold some old ones, that's it

The power of compounding is insane A 10-bagger (the hardest part) 'only' needs 4 more doubles to become a 100-bagger (10.000% gain): 2× → 20× 2× → 40× 2× → 80× 2× → 160× (well past 100×)

Q4 is going to be very interesting for $PDX with two major game releases (Bloodlines 2 and EU5). One if them I expect to be a miss (BL2), but the other one has a high chance of becoming another decade-long cash cow generating high returns on capital

$DNP Q2 19% rev growth and 8.8% LFL growth vs Biedronka's 5.3% LFL growth 👌

Bert Hochfeld's take: seekingalpha.com/article/481554…

Less AI talk, I said… but 6 years in with $DDOG 🐶(one of my few "exciting" names left), I can’t skip sharing some thoughts on recent earnings...

If you're a new follower, here's what to expect: I share my journey, covering learnings, successes, and mistakes, with a focus on durable growth. Rather than aiming for the highest Year-to-Date (YTD) returns, I aim for a high Compound Annual Growth Rate (CAGR) and becoming 1% better each day for decades to come. I discuss a variety of stocks, leaning towards those with a high likelihood of success over the next 10+ years, particularly favoring smaller market caps ($1b to $10b) for their potential as multi-baggers. While I write a lot about software, I try to avoid labeling and fixed thinking, remaining open-minded to all kinds of opportunities including unsexy supermarket chains with a high Return on Invested Capital (ROIC). Software as a Service (SaaS) with high Dollar Based Net Retention Rates (DBNRR) simply captivates me as it's still eating the world, and if I see potential upside, I'm on board. I also stay away from trading, dividend investing, crypto, speculation, and macro considerations in my investment decisions. My favorite investor so far is a living legend: Peter Lynch and his book 'One Up On Wall Street'. I'm dedicated to finding true happiness and peace of mind. While money doesn't buy it, it does ease many worries. If I can help you achieve that too, that's a big win. Thanks for joining me on this journey. Here's to an exciting 20+ years ahead!

Olle buys 10k $VITB shares worth €300k

$VITB.ST $VIT $VITB Vitec Software Q2 - My notes & reflections on thesis progression (for whoever else is watching this one)

One bad habit I’ve seen (and guilty myself) is having (emotionally charged) opinions on things that don’t matter, like a stock I don’t own or a trend I’m not part of. I’d rather use that energy for real outcomes. If you catch me ranting about irrelevant stuff, please call me out.

$CMG.to (latest shareholder letter) this is music to my ears

@PronkDaniel 12% plus free spin offs

For $CSU.TO to produce a 10% CAGR, it has to: - Grow FCF ~12% annually - Maintain a 25 P/FCF What do we think? Doable?

@NoHypeInvesting I didn't look closely at last earnings because I sold in February after sharing my thoughts here: x.com/MoritzMDrews/s…

@MoritzMDrews What's your thoughts on $Mndy?

@TimothyTarab Short- or long-term and why?

@MoritzMDrews I think they will suffer. Sold out a few months ago.

$TTD is deeply oversold, last seen in 2022. OBOS (screenshot) confirms it, and it’s 25% below historical valuation. If you believe in the future of digital ads ($1T TAM of which TTD captured just 1%), streaming, open internet and Jeff Green, this could be an opportunity.

When to sell: A few bad quarters ≠ a broken thesis. When it's truly time to sell, you'll know - it’ll be obvious. Yes, you’ll take losses. Timing won’t be perfect. Move on. It’s the rare 10,000% winners that drive long-term returns, not dodging every –50% drawdown or high P/E.