iiinova — where your digital self keeps evolving

TJ Terwilliger @tj-terwilliger.bsky.social · 04/10/2026

AI changes quickly. Physical assets don't. That's why businesses with heavy assets and low obsolescence deserve a closer look.

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TJ Terwilliger @tj-terwilliger.bsky.social · 02/10/2026

What's easier? Finding the next Nvidia. Or increasing your monthly investments by $500? Which one do you spend more time on?

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TJ Terwilliger @tj-terwilliger.bsky.social · 29/09/2026

Between January 2017 and 2019, $TSLA stock surged 93%. During this exact same period, Elon Musk admitted the company was one month away from total bankruptcy. Think about that. You could have known it was on brink of death, shorted it, and still lost your shirt.

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TJ Terwilliger @tj-terwilliger.bsky.social · 26/09/2026

Why do dividend investors naturally gravitate toward HALO companies? Because the things that make a business hard to disrupt make its dividend safer: Heavy assets → barriers to entry Essential services → reliable demand Low obsolescence → durable cash flow Durable cash flow → growing dividends

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TJ Terwilliger @tj-terwilliger.bsky.social · 25/09/2026

Interesting commentary from the CFO of $DG

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TJ Terwilliger @tj-terwilliger.bsky.social · 24/09/2026

Everyone asks: "What stock should I buy?" Almost nobody asks: "How can I invest twice as much every month?"

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TJ Terwilliger @tj-terwilliger.bsky.social · 23/09/2026

The beauty of dividends: You don’t have to sell your ownership to get paid. Think about Mark Zuckerberg - he owns around 340,000,000 shares of $META He could sell those shares to generate cash, or keep them and collect more than $740,000,000 every year in dividends.

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TJ Terwilliger @tj-terwilliger.bsky.social · 22/09/2026

Finding 10x stocks according to Peter Lynch:

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TJ Terwilliger @tj-terwilliger.bsky.social · 21/09/2026

How does a specialty insurer compound book value at ~13% annually for more than 30 years? Not by sticking to one investment strategy. Tom Gayner treats every dollar at Markel ($MKL) as an opportunity-cost decision. Here’s his capital allocation playbook 🧵👇

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TJ Terwilliger @tj-terwilliger.bsky.social · 21/09/2026

Cheap stocks need the market to eventually agree with you. Great businesses don’t. They generate cash, buy back shares, pay dividends, and reinvest in growth. I'd rather rely on the business than the market.

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TJ Terwilliger @tj-terwilliger.bsky.social · 18/09/2026

You don't necessarily need to invest in the companies building AI. You can invest in companies that AI is unlikely to disrupt. Think: Heavy assets. Essential services. Low obsolescence. Strong cash flow. That's the HALO strategy.

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TJ Terwilliger @tj-terwilliger.bsky.social · 17/09/2026

Everyone wants the fastest-growing stock. But growth isn't enough. You also have to pay the right price. A company can grow sales 20% per year and still produce mediocre returns if you pay too much upfront.

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TJ Terwilliger @tj-terwilliger.bsky.social · 16/09/2026

Income creates savings. Savings create investments. Investments create wealth. Most people only optimize the third step.

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TJ Terwilliger @tj-terwilliger.bsky.social · 14/09/2026

The biggest misconception in income investing: “If you want a 5%+ yield, you have to buy junk.” Nope. You can build a high-yield portfolio around durable businesses, real competitive advantages, and growing dividends. Here’s how our real-money High Yield Portfolio is doing it 🧵👇

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TJ Terwilliger @tj-terwilliger.bsky.social · 14/09/2026

The Feynman technique works for stocks too. If you can't explain why you own a business to a child, you need to go back and do more work on it.

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TJ Terwilliger @tj-terwilliger.bsky.social · 11/09/2026

Domino’s $DPZ launched a new pizza. Instead of telling you it’s better than the competition, they were willing to prove it. If you bought a Big Mac, Whopper, Crunchwrap, Chicken Sandwich, or Chipotle Burrito, they'd give you The Domino for free. Anyone try a free pizza?

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TJ Terwilliger @tj-terwilliger.bsky.social · 11/09/2026

The biggest advantage individual investors have isn't intelligence. It's patience. Wall Street can't always wait. We can.

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TJ Terwilliger @tj-terwilliger.bsky.social · 11/09/2026

Investing can be simple, but it's not easy. Tom Gayner has beaten the market at Markel $MKL for 30+ years using a 4-step checklist: 1. High return on capital with low leverage 2. Managers with equal talent and integrity 3. Reinvestment runway or disciplined capital returns 4. Fair valuation

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TJ Terwilliger @tj-terwilliger.bsky.social · 10/09/2026

The more investors worry about AI disrupting businesses... The more interesting businesses with physical assets become. Because AI can disrupt software. It's much harder to disrupt an oil reserve, landfill, toll road, airport or power grid.

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TJ Terwilliger @tj-terwilliger.bsky.social · 09/09/2026

$FIS - Core banking software provider (post-Worldpay spinoff) - 83% recurring revenue - Banks can't easily switch (catastrophic downtime risk) - High switching costs = sticky customers - Strong free cash flow generation - Management just raised FCF guidance - Using cash for dividends and buybacks

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TJ Terwilliger @tj-terwilliger.bsky.social · 09/09/2026

Tom Gayner has compounded Markel Group's book value at 13% annually for 30+ years. No extreme leverage. No penny stocks. No options strategies. Just $MKL investing in businesses with high ROIC, competent management, and room to compound. Boring works.

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TJ Terwilliger @tj-terwilliger.bsky.social · 09/09/2026

Dividend investing sounds boring until you look at the math. S&P backtested the index behind $SCHD from 2001–2023. It beat the broad U.S. market by 1.52% per year. That doesn't sound like much. But over 20 years? It gets interesting. 🧵👇

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TJ Terwilliger @tj-terwilliger.bsky.social · 08/09/2026

Capitalism is like Darwinism for companies. Here are the three choices they have when competition attacks 👇

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TJ Terwilliger @tj-terwilliger.bsky.social · 08/09/2026

Finding the next great stock won't matter if you don't have capital to invest. Most investors obsess over stock selection. Far fewer focus on: • Income growth • Expense control • Savings optimization The capital comes first. The investing comes second.

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TJ Terwilliger @tj-terwilliger.bsky.social · 08/09/2026

Anchoring bias is real. $NKE is trading around 19x earnings. That might look cheap. But $AMZN, $CPRT, and $LULU are trading in a similar valuation range while delivering roughly 2x Nike's historical growth. The question isn't if Nike is cheap. It's if Nike is the best use of your next dollar.

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TJ Terwilliger @tj-terwilliger.bsky.social · 07/09/2026

"If a stock yields over 5%, it's either a yield trap or using covered calls." No. The market regularly misprices quality businesses. Our High Yield Portfolio: • 6.14% yield on cost • 11.58% total return • 7.3% avg. 10-yr dividend CAGR • Zero covered calls or BDCs

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TJ Terwilliger @tj-terwilliger.bsky.social · 06/09/2026

"My largest positions aren’t the ones I think I’m going to make the most money from. My largest positions are the ones where I don’t think I’m going to lose money." - Joel Greenblatt

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TJ Terwilliger @tj-terwilliger.bsky.social · 06/09/2026

Yield Trap: • 8%+ yield, falling earnings • Payout ratio >90% • Principal decays over time • Leverage or option selling Dividend Compounder: • 5–7% yield from temporary mispricing • <50% payout ratio • Growing DPS over time • Durable competitive advantages Yield is only as safe as the cash flow

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TJ Terwilliger @tj-terwilliger.bsky.social · 05/09/2026

“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time – none, zero.” - Charlie Munger

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TJ Terwilliger @tj-terwilliger.bsky.social · 05/09/2026

S&P 500 earnings have grown much faster than dividends. • Current payout ratio: 32% • Long-term average: 56% Do you think the average company will grow dividends faster than earnings in the future?

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TJ Terwilliger @tj-terwilliger.bsky.social · 04/09/2026

The Dow Jones U.S. Dividend 100 Index is the engine behind $SCHD Between June 2001 and June 2023, It outperformed the U.S. Broad Market Index by 1.52% per year. Here’s what $50,000 in each over 20 years ends up as: Dividend 100 Index: $455,489.23 Broad Market Index: $346,296.86

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TJ Terwilliger @tj-terwilliger.bsky.social · 04/09/2026

Daniel wants to retire early and has a long runway ahead of him. What investing strategy would you give him?

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TJ Terwilliger @tj-terwilliger.bsky.social · 03/09/2026

Almost every S&P 500 stock has a dividend yield lower than 10-year treasuries. We're now around the same place we were just prior to 2008 using this metric.

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TJ Terwilliger @tj-terwilliger.bsky.social · 03/09/2026

This 4-step fundamental filter is the engine behind $SCHD's outperformance. European investors can now access the exact same model globally via $AWHD.

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TJ Terwilliger @tj-terwilliger.bsky.social · 02/09/2026

Dividend investors have been owning HALO companies for decades. Heavy assets create barriers to competition. Low obsolescence creates durable cash flow. Durable cash flow creates durable dividends.

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TJ Terwilliger @tj-terwilliger.bsky.social · 02/09/2026

Most retail investors think zero-commission trading apps and fractional shares leveled the playing field for wealth creation. But all they did was put a casino in everyone's pocket. Nearly 1 in 3 options now expires the same day they are bought.

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TJ Terwilliger @tj-terwilliger.bsky.social · 02/09/2026

Gen Z is most likely do direct investing money to sports betting, or to see sports betting as part of their investing strategy. What do you make of this?

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TJ Terwilliger @tj-terwilliger.bsky.social · 01/09/2026

$NKE has collapsed. Not long ago, the market valued Nike at 50x earnings despite growing less than 10% per year. Today, it trades below 19x earnings. So the obvious question: Is Nike finally cheap enough to buy? Maybe. But there's a better question to ask. 🧵

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TJ Terwilliger @tj-terwilliger.bsky.social · 01/09/2026

If you think you could have gotten rich if you'd just have bought $AMZN at the IPO, Howard Marks disagrees:

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TJ Terwilliger @tj-terwilliger.bsky.social · 31/08/2026

One of my favorite Buffett quotes:

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TJ Terwilliger @tj-terwilliger.bsky.social · 31/08/2026

$ 10,000invested in $SCHD at launch is now paying $1,950+ every single year. That is a 19.5% yield on cost The bad news: If you're in Europe, UCITS rules block you from buying $SCHD. The good news: $AWHD uses the exact same underlying index framework across global stocks

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TJ Terwilliger @tj-terwilliger.bsky.social · 30/08/2026

How to know when to buy and sell using the $VIX

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TJ Terwilliger @tj-terwilliger.bsky.social · 29/08/2026

6 Streams of income to start building wealth:

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TJ Terwilliger @tj-terwilliger.bsky.social · 28/08/2026

$NKE is down nearly 80% and trading at 19x earnings. It is a generational bargain. No. It is an opportunity cost trap.

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TJ Terwilliger @tj-terwilliger.bsky.social · 28/08/2026

Most dividend investors think high starting yield is the fastest path to building passive income. It's not, reasonable starting yield + dividend growth is. Look at $SCHD: • Starting yield: ~3% • 10-year dividend CAGR: 10.6% • 15-year yield on cost: 19.5%

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TJ Terwilliger @tj-terwilliger.bsky.social · 27/08/2026

The chart that explains $NKE's collapse better than any corporate headline. When your multiple compresses from 84x to 19x while net income stalls, basic math says your stock will crash. Valuation matters.

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