The Reservist
Yehoshua ZlotogorskiBuilding a long-duration high growth portfolio of companies, looking to outperform the QQQ for the next 7 years. In depth stock analysis and portfolio management thoughts.
| Platform |  | Pricing | Only free issues | Publishes | Twice weekly |
|---|---|---|---|---|---|
| Issues | 73 | Subscribers | Read | thereservist.substack.com |
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Latest Issues
Recent posts by this newsletter. Browse the email archive.
Sea Change 2.5
In December 2022, Howard Marks published a memo titled Sea Change. In it, he argued that the investment world was undergoing one of those rare, fundamental shifts—a transformation so deep that the strategies which worked for the prior four ...
Revisiting Spotify & music's long term value
In February 2025 I published my deep dive on Spotify: 10,000 words, 15 charts and a few price targets. I posited that at $100b market cap, the company still had plenty of upside - which played out throughout 2025. Midway through the year, w...
Toast wraps up a VERY strong 2025
Toast reported a great Q4, beating their guidance on basically all metrics:
Monday: What I got wrong
Monday reported a decent quarter, but the 22% sell off in the company says it all. I’ll briefly touch on the quarter and then touch on how I got this big bet of mine so wrong.
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