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Oliver Sung

@sungcap.bsky.social
9 followers 13 following 149 posts

Newsletter: oliversung.substack.com

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Oliver Sung @sungcap.bsky.social · 22/11/2025
Peter Cundill’s track record was the stuff of legend: 33 years of 15.2% compounded annual returns. And he did it through a disciplined, almost stubborn commitment to buying global net nets, year after year. Here are 10 of my favorite excerpts from the book on his investment approach.
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Oliver Sung @sungcap.bsky.social · 21/11/2025
Management behavior you can only observe, not screen.
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Oliver Sung @sungcap.bsky.social · 21/11/2025
Off-balance-sheet optionality the models never see.
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Oliver Sung @sungcap.bsky.social · 21/11/2025
Temporary distortions that break the ratios.
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Oliver Sung @sungcap.bsky.social · 21/11/2025
Low margins hiding latent pricing power.
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Oliver Sung @sungcap.bsky.social · 21/11/2025
Corporate actions the market hasn't digested.
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Oliver Sung @sungcap.bsky.social · 21/11/2025
Most stock pickers rely on screeners. But almost every screen-friendly stock is priced correctly. Here are five kinds of mispricings screens will never catch.
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Oliver Sung @sungcap.bsky.social · 12/11/2025
Part 2 is here. This one walks through my daily routine and how I expand my surface area in stock picking. Full read here: oliversung.substack.com/p/my-investm...
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Oliver Sung @sungcap.bsky.social · 02/11/2025
Thoughts on business returns.
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Oliver Sung @sungcap.bsky.social · 28/10/2025
An update on the Danish bank consolidation story. oliversung.substack.com/p/danish-ban...
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Oliver Sung @sungcap.bsky.social · 16/10/2025
A short update on $SSTK Shutterstock / $GETY Getty + another absurd opportunity I'm writing up.
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Oliver Sung @sungcap.bsky.social · 10/10/2025
A cheap little insurance company — thinly traded. Website: sungcap.com/little-insur... Substack: oliversung.substack.com/p/a-little-i...
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Oliver Sung @sungcap.bsky.social · 08/10/2025
From my post on net nets - a complete guide. open.substack.com/pub/oliversu...
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Oliver Sung @sungcap.bsky.social · 01/10/2025
Buffett on how to make 50% per year on small amounts of money.
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Oliver Sung @sungcap.bsky.social · 25/09/2025
Seth Klarman on fundamental research and cheap opportunities.
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Oliver Sung @sungcap.bsky.social · 24/09/2025
Another net net. Website: sungcap.com/net-net-61-u... Substack: oliversung.substack.com/p/net-net-wi...
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Oliver Sung @sungcap.bsky.social · 15/09/2025
Seth Klarman on indexing, from Margin of Safety (1991).
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Oliver Sung @sungcap.bsky.social · 15/09/2025
Just sent another special situation writeup on the $SSTK / $GETY merger. Website: sungcap.com/shutterstock... Substack: oliversung.substack.com/p/shuttersto...
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Oliver Sung @sungcap.bsky.social · 13/09/2025
From my writeup on Deswell.
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Oliver Sung @sungcap.bsky.social · 09/09/2025
Following my rant on net nets last week, I promised you a follow-up writeup on $DSWL Deswell Industries, a net net. Here it is. It's a compelling setup, the rare "good" kind of net net, but it's got some hair. Website: sungcap.com/deswell-indu... Substack: oliversung.substack.com/p/deswell-in...
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Oliver Sung @sungcap.bsky.social · 31/08/2025
The paradox of stock picking.
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Oliver Sung @sungcap.bsky.social · 24/08/2025
I’ll put P Cundill’s “There’s Always Something to Do” up there with Greenblatt’s “You Can Be a Stock Market Genius.”
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Oliver Sung @sungcap.bsky.social · 10/08/2025
Risk is when you know the shape of the probability distribution; uncertainty is when you don't.
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Oliver Sung @sungcap.bsky.social · 04/08/2025
$SSY/$RHEP merger voted through at the proposed deal consideration. www.globenewswire.com/news-release...
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Oliver Sung @sungcap.bsky.social · 04/08/2025
New writeup: sungcap.com/share-cannib... Also on Substack.
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Oliver Sung @sungcap.bsky.social · 29/07/2025
No matter how brilliant, none of what we do lasts. Use an inner scorecard to gain independence of mind. Marcus Aurelius' Meditations:
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Oliver Sung @sungcap.bsky.social · 24/07/2025
John Malone, The New Yorker, Feb 1994.
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Oliver Sung @sungcap.bsky.social · 23/07/2025
New writeup: sungcap.com/supremex/ Also on Substack.
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Oliver Sung @sungcap.bsky.social · 22/07/2025
Charlie Munger on chauffeur knowledge: how we confuse familiarity with knowledge and understanding.
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Oliver Sung @sungcap.bsky.social · 19/07/2025
Instalco $INSTAL Q22025 numbers (I have not written this one up, but I own the stock and do these notes for myself, so might as well post them too):
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Oliver Sung @sungcap.bsky.social · 19/07/2025
Ted Weschler on reading.
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Oliver Sung @sungcap.bsky.social · 16/07/2025
A special situation for tiny accounts. You’re paying $1 for what I believe is $1.50 of potential value in a deal that could close within weeks. Website: sungcap.com/net-net-nano... Substack: oliversung.substack.com/p/this-net-n...
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Oliver Sung @sungcap.bsky.social · 11/07/2025
10 goaty quotes from Peter Cundill as food for thought (thread):
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Oliver Sung @sungcap.bsky.social · 11/07/2025
Management has skin in the game. Read: oliversung.substack.com/p/serial-acq...
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Oliver Sung @sungcap.bsky.social · 10/07/2025
Buffett on why most investors fail.
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Oliver Sung @sungcap.bsky.social · 09/07/2025
Thankful to be #22 rising in finance on Substack!
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Oliver Sung @sungcap.bsky.social · 06/07/2025
Made my day. Thanks Hal!
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