More than research. The operational diary of a holding company executing deals, managing private & public assets, and investing in overlooked listed small caps.
| Platform |  | Pricing | Freemium | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 221 | Founded | 4 years ago | Last Issue | 6 days ago |
| Active | |||||
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hermitresearch.comLatest Issues
09/26: Golden Shovels
Portfolio Update (+10.93% YTD). Full asset disclosure, taking a 20% stake in a private coffee label, 19 micro-cap holdings, and an institutional fork in the road.
Want more context? Track the journey so far here.
Gains, Losses, and Espresso
Results Review
We were saving this for the portfolio update (next week), but you all deserve to know, and immediately benefit from, a few defining developments.
More fire in the engine room almost certainly leads to better outcomes....
[$OMSE ] The Ignored $154m Cash Mountain
We usually release these PoW posts on Saturdays, but we’re waiting on management to give us the green light to quote them directly in our next, and probably best, long-form write-up to date.
That adds a ton of value to the piece, so... de...
[$GREEN ] Aglomerating Tiny Local Monopolies
We recently upgraded our domain. To make sure you don't miss upcoming analyses, please move this email from Promotions to Primary (or reply with a quick 'received').
This piece is brought to you by Baseline.
More on them i...
Auto Logistics & Subprime Check: Carvana, Copart, and Credit Acceptance (Q3 2026)
Prio Brief #12 | [$CVNA, $CPRT, $CACC] Checks across 100+ rooftops and auction yards, unpacking Carvana's trade-in engine, Copart’s whole-car unit economics, and CACC’s platform friction
We just moved to a new domain, and algorithms hate s...
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Authors
The writers behind this newsletter.
Private assets & small/micro-cap investor since 2014. Primary research, management access & field due diligence. Operational diary of a holding company.
Sharing my investing journey in public (& private) markets from $100,000 to $1,000,000 + research into publicly traded stocks.
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