https://investboard.io/writing Essays and explainers on value investing for serious long-term investors. en Sat, 30 May 2026 19:05:47 GMT https://investboard.io/writing/small-cap-margin-expansion https://investboard.io/writing/small-cap-margin-expansion The single most under-appreciated source of multi-bagger returns in small caps. How to spot a candidate, what path is realistic, and how to size before the market re-rates. Sat, 30 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/when-to-sell-a-stock https://investboard.io/writing/when-to-sell-a-stock Buffett's, Lynch's, and Klarman's selling philosophies compared, the four conditions that should actually trigger a sell, and how to live with the regret of selling early. Sat, 30 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/investor-psychology-pitfalls https://investboard.io/writing/investor-psychology-pitfalls The six behavioural traps that wreck more value-investing portfolios than bad analysis ever does — and the concrete tools that defend against each. Sat, 30 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/margin-of-safety https://investboard.io/writing/margin-of-safety Graham's three most important words in investing. Three ways to calculate margin of safety and the discount each kind of business deserves before you size a position. Sat, 30 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/investment-clock-explained https://investboard.io/writing/investment-clock-explained A four-quadrant model of the economic cycle and the asset classes that lead in each. What the clock is, when it works, when it breaks, and how to use it without over-trading. Sat, 30 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/value-trap-checklist https://investboard.io/writing/value-trap-checklist Six red flags every cheap-looking stock should clear before you size, and the operational signals that distinguish a real turnaround from a falling knife. Fri, 29 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/optionality-investing https://investboard.io/writing/optionality-investing The hidden adjacent businesses inside great companies — what optionality is, how to spot it before the market does, and how to value it without overpaying for the story. Fri, 29 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/reverse-dcf-explained https://investboard.io/writing/reverse-dcf-explained A reverse-DCF takes the stock price and solves backwards for the growth rate the market is paying for. How to run one, what discount rate to use, and the implied growth rate as margin-of-safety filter. Fri, 29 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/circle-of-competence-investing https://investboard.io/writing/circle-of-competence-investing Buffett's most quoted concept, made operational. What the circle of competence actually means, how to find your edge, and the three questions that test whether a stock is inside or outside it. Fri, 29 May 2026 09:00:00 GMT noreply@investboard.io (Magnus) https://investboard.io/writing/investment-kill-criteria https://investboard.io/writing/investment-kill-criteria What kill criteria are, why they outperform stop-losses, the six conditions that actually trip on a broken business, and how to write yours at entry — when emotion is lowest. Fri, 29 May 2026 09:00:00 GMT noreply@investboard.io (Magnus)