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I have been editing our investment thesis for years now. One thing I can say for sure is that it is subject to further revision. Nonetheless, I find the reflection and editing helpful. Have you written your thesis? How often is it updated? In this post I provide definitions, examples from Little Engine Ventures, and Read more about Developing an Investment Thesis[…]
Today, I am pleased to announce a new type of gathering we have dubbed “Allocators.” We are meeting via webinar in large part because Daryl doesn’t want to drive that much. Secondly (and somewhat more seriously), we want to connect with and help investors and current business owners outside of our target geography. The ideal Read more about Introducing “Allocators” Webinar Series[…]
I owe my blog readers an apology. I recently completed two books by William Zinsser: “On Writing Well” and “Writing to Learn.” In both books Zissner goads his students to be organized and write without noise. Clear writing is clear thinking. What good is a passage if it does not deliver a sound conclusion? The Read more about Apology for Noise[…]
A few years ago I gave a talk at the locally organized TEDx event at Purdue University. One of our Executive on Deck candidates found it. Bonus points to her for the good background research on us. It feels a bit pretentious to tell you to watch me ramble on about my entrepreneur journey for Read more about Redeeming Entrepreneurship[…]
On February 15, 2019, Magic Glass Holdings, LLC (“Magic Glass”) acquired the assets of Autoglass Express (“AGX”) of 505 Farabee Drive, Lafayette, IN from Ron Whitaker. AutoGlass Express provides mobile autoglass service in the Greater Lafayette region. Whitaker will stay involved for the foreseeable future. He will help the team deliver the same quality and Read more about Magic Glass acquires Autoglass Express[…]
It’s not a secret that we (Daryl, Mikel, and Colin) learn by reading. In every newsletter we highlight the current book each of us is reading. We’ve joked that LEV is actually a book club that just happens to buy businesses. We’ve handed out many books over the last couple years. So we decided to Read more about 2019 Book Club[…]
Our 32 small business owning investment partners are familiar with this slide. This slide is in the deck we use when describing the Little Engine Ventures partnership. It explains how Daryl and I try to think about business investment opportunities. We also find it is how our small business owning partners have made decisions in Read more about Different. Right. Boring. Crazy.[…]
Investors have heard what business owners already knew: temperament is more important than intelligence. I recently observed a lecture Gary Mishuris, CFA delivered at Babson College entitled “How to Learn Value Investing.” In the presentation he said, “temperament is like a basketball player’s height. You can compensate a little, but it’s really hard to change Read more about Determining Temperament[…]
by Daryl B Starr I write down my thesis before investment decisions. The act of writing clarifies my thinking. The notes also record my “why.” As reality unfolds I can reflect upon my logic and assumptions. Not everything is a winner, but at least I can discern if it was a judgement error, false assumptions Read more about Investment Journals[…]
On January 26, 2019 Little Engine Ventures acquired majority interest in Brickyard Logistics, LLC of Indianapolis, IN. Brickyard Logistics delivers automobile and agricultural parts overnight. All staff will be retained and a portion of proceeds will be used to expand daytime services. Brickyard Logistics is Little Engine Ventures’s ninth control investment in less than three Read more about Little Engine Ventures Acquires Brickyard Logistics[…]