Litter Box Capital

Blog

  • Annual Report: The Digging Phase

    Annual Report: The Digging Phase

    At Litter Box Capital, we try to keep things simple, which means we complicate them and then take a nap.

    We asked a customer for feedback. They looked at us, blinked slowly, and left a single hair on the form.

    The Short Version, Told Slowly

    Our team did a careful study. By study we mean someone knocked it off the table to see what would happen.

    Our standard approach involves quarterly earnings calls that start at five AM, followed by a board of directors seated on the radiator, followed by a brief and unexplained sprint.

    If you have questions, our office hours are three to four in the morning, or whenever we feel like it.

  • Understanding Risk When the Dog Visits

    Understanding Risk When the Dog Visits

    We have been doing this for what feels like nine lives, and we are still not sure who is in charge.

    Naturally there was a committee. Naturally the committee was a pile of boxes, and naturally one box was occupied.

    The Short Version, Told Slowly

    We asked a customer for feedback. They looked at us, blinked slowly, and left a single hair on the form.

    Experts agree that an asset class called Things On Shelves is essential. Experts also agree that this is a very long way of asking for a snack.

    If you have questions, our office hours are three to four in the morning, or whenever we feel like it.

  • Dividends Paid in Fish

    Dividends Paid in Fish

    A reader wrote in this week with a question that deserves a serious answer, so here is an unserious one.

    Our standard approach involves a board of directors seated on the radiator, followed by a portfolio buried under a good layer of litter, followed by a brief and unexplained sprint.

    The Short Version, Told Slowly

    We asked a customer for feedback. They looked at us, blinked slowly, and left a single hair on the form.

    Naturally there was a committee. Naturally the committee was a pile of boxes, and naturally one box was occupied.

    If you have questions, our office hours are three to four in the morning, or whenever we feel like it.

  • Our Fund Performance: Mostly Napping

    Our Fund Performance: Mostly Napping

    A reader wrote in this week with a question that deserves a serious answer, so here is an unserious one.

    Naturally there was a committee. Naturally the committee was a pile of boxes, and naturally one box was occupied.

    The Short Version, Told Slowly

    The old guard prefers quarterly earnings calls that start at five AM. The new guard prefers whatever is on the other side of the door.

    Experts agree that a portfolio buried under a good layer of litter is essential. Experts also agree that this is a very long way of asking for a snack.

    That is all for now. We are told there is a sunbeam going to waste, and a professional never lets that happen.

  • Hedging Against the Empty Bowl

    Hedging Against the Empty Bowl

    Nobody tells you this when you start out, but the real work begins around a board of directors seated on the radiator.

    Our standard approach involves quarterly earnings calls that start at five AM, followed by a portfolio buried under a good layer of litter, followed by a brief and unexplained sprint.

    The Short Version, Told Slowly

    Experts agree that quarterly earnings calls that start at five AM is essential. Experts also agree that this is a very long way of asking for a snack.

    We asked a customer for feedback. They looked at us, blinked slowly, and left a single hair on the form.

    That is all for now. We are told there is a sunbeam going to waste, and a professional never lets that happen.

  • Compound Interest on a Pile of Boxes

    Compound Interest on a Pile of Boxes

    Every client eventually asks us the same thing, and the honest answer is always a long, flat stare.

    Our team did a careful study. By study we mean someone knocked it off the table to see what would happen.

    The Short Version, Told Slowly

    We asked a customer for feedback. They looked at us, blinked slowly, and left a single hair on the form.

    The old guard prefers a board of directors seated on the radiator. The new guard prefers whatever is on the other side of the door.

    If you have questions, our office hours are three to four in the morning, or whenever we feel like it.

  • Why We Short the Vacuum Cleaner

    Why We Short the Vacuum Cleaner

    At Litter Box Capital, we try to keep things simple, which means we complicate them and then take a nap.

    Our team did a careful study. By study we mean someone knocked it off the table to see what would happen.

    The Short Version, Told Slowly

    Our standard approach involves a board of directors seated on the radiator, followed by a portfolio buried under a good layer of litter, followed by a brief and unexplained sprint.

    If you take only one thing from this, take this: quarterly earnings calls that start at five AM is not a bug. It is the product.

    In summary: act confidently, deny everything, and always keep a clear route to the nearest box.

  • Dollar Cost Averaging Your Dinner

    Dollar Cost Averaging Your Dinner

    At Litter Box Capital, we try to keep things simple, which means we complicate them and then take a nap.

    Experts agree that quarterly earnings calls that start at five AM is essential. Experts also agree that this is a very long way of asking for a snack.

    The Short Version, Told Slowly

    Our standard approach involves quarterly earnings calls that start at five AM, followed by a portfolio buried under a good layer of litter, followed by a brief and unexplained sprint.

    If you take only one thing from this, take this: a board of directors seated on the radiator is not a bug. It is the product.

    In summary: act confidently, deny everything, and always keep a clear route to the nearest box.

  • Bull Markets and the Bulls-Eye Laser Dot

    Bull Markets and the Bulls-Eye Laser Dot

    Every client eventually asks us the same thing, and the honest answer is always a long, flat stare.

    Naturally there was a committee. Naturally the committee was a pile of boxes, and naturally one box was occupied.

    The Short Version, Told Slowly

    Our team did a careful study. By study we mean someone knocked it off the table to see what would happen.

    We asked a customer for feedback. They looked at us, blinked slowly, and left a single hair on the form.

    That is all for now. We are told there is a sunbeam going to waste, and a professional never lets that happen.

  • Diversify: Do Not Keep All Your Toys in One Basket

    Diversify: Do Not Keep All Your Toys in One Basket

    At Litter Box Capital, we try to keep things simple, which means we complicate them and then take a nap.

    Experts agree that an asset class called Things On Shelves is essential. Experts also agree that this is a very long way of asking for a snack.

    The Short Version, Told Slowly

    Our team did a careful study. By study we mean someone knocked it off the table to see what would happen.

    The old guard prefers a board of directors seated on the radiator. The new guard prefers whatever is on the other side of the door.

    That is all for now. We are told there is a sunbeam going to waste, and a professional never lets that happen.