8th Wonder Capital

8th Wonder Capital

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Harbor Diversified: Quo Vadis?
Air Wisconsin sale complete, Bonuses paid, Change of management personnel, Evaluating strategic alternatives. Everything is on the table
 • Mr Schmidt
[Special Arb] Annualized Gross Gain: ~900%
... but super tiny, illiquid, and very short-term
 • Mr Schmidt
[EDIT] Vistry: The Cost of Opportunism
Net debt missed, but margins surged. Why I view the 10% drop as a dislocation, not a thesis breaker.
 • Mr Schmidt
Acorn Energy: A Post-Mortem Conversation with Management
Why I am staying on the sidelines, but keeping the screen on.
 • Mr Schmidt
Idea 26 Update: The Second Engine is Humming, But Asymmetry is Gone
Improving fundamentals vs. expanding multiples: Why I am moving to the sidelines after a +30% run.
 • Mr Schmidt
[Merger Arb] When the Buyer Funds the Target: A UK Distressed Merger Arbitrage
A case study in how balance-sheet repair and buyer incentives compress deal risk... slowly.
 • Mr Schmidt
Pulling the Plug From my Acorn Energy Position...
Why this thesis moved from "Growth" to the "Too Hard" pile for me... for now.
 • Mr Schmidt
14:19
[AI podcast] The Marxist Guide to Intangible Investing
Listen now | Serendipity on a slow Boxing Day morning, or: Why Marx' Labor Theory of Value is the missing link in modern valuation, and what an AI…
 • Mr Schmidt
IWG’s Capital-Light Model: The Unit Economics and Working Capital Mechanics
A CAC, churn, and cash-driven look at the economics of IWG’s Managed & Franchised segment.
 • Mr Schmidt
PharmX: Running the Numbers on the Initial Marketplace Rollout Targets
Why I de-risked my position after the recent run-up, but why the math keeps me in the game for the next chapter.
 • Mr Schmidt
It is a Time of Reflection
After two years on Substack, the data show the research is finding the winners. Now, let’s talk about keeping the gains, and draw some conclusions.
 • Mr Schmidt
The Marxist Guide to Intangible Investing
Serendipity on a slow Boxing Day morning, or: Why Marx' Labor Theory of Value is the missing link in modern valuation, and what an AI taught me about…
 • Mr Schmidt
Closing EMERGE Commerce
... for the time being.
 • Mr Schmidt
[Free] Vistry: Breaking the (Land)Bank
Or: How to turn an unpopular business necessity into a source of strength.
 • Mr Schmidt
8th Wonder Capital
8th Wonder Capital
Albert Einstein referred to compound interest as the 8th wonder of the world. This substack captures my musings on investing. Not to be taken as advice - neither financially nor in any other aspect of life.
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Investment Process Musings - The Podcast
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