The Last Sale

Investors,

Thank you all for becoming subscribers of my small-cap investing newsletter. It has been a pleasure writing for you guys over the past ten months. I never thought the letter would get as popular as it has when I first started this.

The free version of Alpha Letter now has over 27,500 investors. The premium version is pushing close to 1,000 investors.

There has been at least two free newsletters per week which go over macroeconomic themes, business trends, personal finance and obscure investing ideas.

Alpha Letter Pro has uncovered 15 different stock ideas that I have personally been invested in.

I have included a chart below of the 15 ideas. This chart shows the date and price when the investment idea was published. It also shows the current price (as of 10-9-2021) and what the investment thesis was when I originally published the idea.

This chart has not been audited by anyone of any professional nature. Returns do not include dividends.

So far I am pretty proud of the returns. Only one idea has been a complete wipeout which was ironically the first idea I posted back when barely anyone read this newsletter. The idea had an extremely risky thesis but also had massive upside should the thesis workout. Ultimately, the thesis broke and I exited for loss.

The other ideas have worked better than I expected. 2021 has been the greatest year for my investing career to date. In this market if you find an undervalued opportunity you have to act fast or the stock will re-rate before you can buy it.

Currently I am invested in Idea Three, Five, Eight, Ten, Eleven, Fourteen and Fifteen (which I wrote up Saturday). I have major positions in each of these eight stocks and am highly constructive on the potential free cash flows each enterprise could generate for investors.

I wanted to thank each and everyone of you who has supported the newsletter and especially wanted to thank the investors who have personally reached out. I have enjoyed talking to each one of you and encourage more of you to reach out.

Given the success the newsletter has seen I have decided to raise the price of Alpha Letter Pro to $20 per month from the original $10 per month. The price increase will go into effect Wednesday night. Anyone who is already a subscriber to Alpha Letter Pro will be grandfathered for life at $10 per month.

I have unlocked two research reports for anyone who is curious to see what my research looks like if they have not read it before. I encourage you to reach out if you want to discuss either of these stocks. I know them well.

• Research Report One

• Research Report Two

I tend to focus on stocks that are hated, unloved, trading at multi-decade lows, insider purchases and show extremely undervalued valuation metrics. I love asset heavy, non-tech, cash flowing producing assets that no one else is looking at. I have had a lot of success buying the smallest, most illiquid stocks that Wall Street can’t touch and focus on heavy fundamental analysis.

If you are interested in becoming a Pro subscriber but would like to learn more about my process feel free to respond to this email and I would be happy to discuss.

Thank you all for the support over these past ten months. It has been incredible to watch the newsletter grow and I have thoroughly enjoyed entertaining all of you with my writing.

Subscribe to Alpha Letter Pro before Wednesday night and become grandfathered in at $10 dollar per month. The price will never be this low again.

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