With the winding down of the US Portfolio, I’ve renamed the blog in view of the upcoming shift in theme of what I hope to cover.

In the coming months, I’ve decided to focus on publishing a series of investing memos that I’ve written. Each piece will focus on different aspects of investing.

Together, they represent my own philosophy and approach. Many of you know that I adopt a long term, fundamental based approach towards investing. I hope to refine and clarify my own thoughts on the subject, and to engage and encourage you to think about it in your free time.

There is no shortage of information available with the advent of the world wide web. However, what is perhaps lacking as a direct result of the easy availability of “knowledge” is a lack of what Howard Marks calls “second-level” thinking.

Things cannot be taken at their face value. ...