Unconventional Value
Subscribe
Sign in
Home
Letters
Investment Ideas
Performance
Archive
About
Mid Year 2026 Letter
See below for the PDF version of this letter.
Jul 27
12
Recent posts
View all
Continued thinking on Planet Labs
Every investment decision ultimately returns to the question of what do you believe vs. what is already priced in
May 7
14
1
Year End 2025 Letter
Click below if you prefer reading the PDF version.
Feb 23
12
1
Mid Year 2025 Letter
A tour of the portfolio
Aug 15, 2025
12
1
Investment Idea #5: Thryv Holdings | THRY
A unique, unheralded opportunity in small business America
Apr 3, 2025
13
2
1
Research Recap | February 2025
Thryv, Upstart, Planet Labs
Mar 4, 2025
2
Research Recap | January 2025
Planet Labs, Xometry, and Pagaya
Jan 31, 2025
6
4
2
Year End 2024 Letter
If you would prefer to read in PDF format, click below.
Jan 19, 2025
9
3
1
Continued thinking on CROX
Maybe the fad risk and acquisition criticisms are overdone
Dec 21, 2024
15
2
2
Update on Investment Idea #1
I sold half of my position in Spire
Dec 7, 2024
7
3
1
Selling Spire's Maritime Business
A few thoughts on the transaction
Nov 15, 2024
4
3
A turn for the worse
Satellite failures, accounting restatements, and covenant breaches at Spire
Aug 25, 2024
9
2
1
An informative Glassdoor review
A fine point on Planet's GTM struggles
Aug 21, 2024
1
See all
Top posts
My Thesis in Planet Labs
Mar 2, 2024
17
9
1
Evaluating Xometry's Marketplace Opportunity
Mar 18, 2024
9
Continued thinking on Planet Labs
May 7
14
1
Mid Year 2025 Letter
Aug 15, 2025
12
1
Investment Idea #1: Spire Global (NYSE: SPIR)
Jun 28, 2023
12
7
1
Unconventional Value
Semi-annual investor letters + occasional investment research and ideas
Subscribe
This site requires JavaScript to run correctly. Please
turn on JavaScript
or unblock scripts
