Q4 2024 - Seeking Winners Quarterly Letter

January 11, 2025

Dear Fellow Investors

This quarter and year-end, the emphasis is on the importance of focused execution. In 2024, a priority was the careful allocation of time and resources across all aspects of life, including the investment strategy. This involved a meticulous selection of information sources, a discerning approach to investment discussions, and a deliberate focus on the fundamental drivers of business success.

While valuation remains an important consideration, it rarely constitutes the primary focus of our analysis. We believe a significant disconnect exists between the true essence of a thriving company and the metrics that dominate many investors' attention.