PSKRF - Yoav Zelikovic Investments' Annual Letter 2021 (Updated Q1 2022)

• The "Margin of Safety" is presumably already found in our Jewish sources in the midrash about Uncelus during the Roman conquest of the Land of Israel.
• Compounder stocks are stocks of profitable companies which operate in various fields (including many owner-operated stocks of public insurance companies around the world), led by honest, reliable Outsider-like CEOs.
• Net-net stocks-this strategy was first applied by Benjamin Graham, and it involves investing in stocks that trade at a price which is less than the company’s net asset value.
• Our "Ten Commandments" which underlie and direct us in our investment activities.

For further details see: