WELCOME TO SALZBACH CAPITAL
A Value Investment Blog
In this blog, I will share my investment ideas, financial news, and any research I find particularly interesting.
I will also share my portfolio - showing both the successes and failures - and discuss the lessons I have learned from them.
My Mission & Education
I am currently in my final semester of Economics & Business Administration at the Goethe University Frankfurt, specializing in Finance & Accounting.
My goal is to create a platform where I can openly share, discuss, and explore my thoughts, analyses, experiences, and lessons learned.
I hope this will generate over time an added value not only for myself but also for other young investors .
Investment Principles
I can not tell you which P/E ratio is appropriate for a car company to be considered undervalued or anything of the sort.
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However, over the past few years, I have learned some crucial insights about developing the right investing mindset from my role models. In my opinion, the three most important pillars for fostering the right mindset are as follows:
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1. Staying in youre circle of competence is understanding what you know well and investing only in businesses or industries you genuinely understand. By staying within your circle of competence, you are more likely to evaluate opportunities accurately and avoid costly mistakes.
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2. Focusing on long-term investments and the miraculous effect of compounding enables an investor to steadily accumulate wealth, harness exponential growth, and remain resilient against short-term market fluctuations.
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3. By buying with a margin of safety, you tilt the odds in your favor and protect your capital, which is essential for long-term compounding and investing success.
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Circle of Competence
"[...] the single most important thing if you want to avoid all the stupid errors, is knowing where you are competent and where you are not [...]" - Charlie Munger
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02
Long Term
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Make money by "sitting on your hands", letting a good investment grow, rather than chasing the next hot stock.
03
Margin of Safety
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"If you’re underpaying for a business’s future earnings, you’re inherently building in a buffer against valuation errors." - Warren Buffet
Investment Analysis
Newsletter
In my newsletter, I share articles and financial news that I find particularly interesting. I summarize them, put them into context, and offer my thoughts.
My goal is to provide valuable insights - without claiming to have all the answers or absolute certainty.
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If that sounds interesting to you, I’d be happy to have you on board.