Public markets have taught me companies and founders aren’t just valuations. Some can have great financial results or just decent growth but be trading 70X P/S and sustain lofty levels for 5 years.

I’m not saying the All star hundred and thousand baggers don’t have great financial results to consistently sustain and win records themselves and I don’t think charismatic founders are the secret recipes. However, valuation has also become a popularity contest.

Way before the get go, we have biases on certain serial founders. We’ve seen them grow their 5 year old companies to Billion dollars revenues from literally accidents example $Work of Slack. There’s a lot of reputational success in their past histories. We have the same

Notion with example Andres Street of $STNE. How many Brazilian founders do you know can grow a financial payments business executing over 500,000 Brazilian SMEs when 5 years ago, they thought let’s start with 200 customers.

I give a lot of thought about people like John Gokongwei even if he already passed away. I study how a corn starch mill ended up being the largest food and beverage conglomerate not just in Philippines but Oceania and Southeast Asia $URC

Many students saw the 2005 commencement address to Stanford of Steve jobs but how many Forrest Li out there built their business in 2009 and owns Garena and Shopee and connected the dots? $SE

I think about founders. I think about what made them who they are. They intrigue me. Stocks reflect merely a little bit of these great people who built a great company as well as all the employees they hired and partners they’ve built. There’s thousands of great people.

Diversify globally. You can see that there are great people Worldwide.