September 15, 2026

18% of NAV, negative EV, hidden real estate value, and a recent property sale at 2/3 of the market cap

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18% of NAV, negative EV, hidden real estate value, and a recent property sale at 2/3 of the market cap

The cheapest Korean stock I've seen thus far.

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paywall
September 15, 2026

[Update] Japan’s most mispriced compounder

A banger of a quarter.

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paywall
September 12, 2026

All Korean net nets #3: another 8 stocks

A few passes, a few maybes, and 2 stocks behind the paywall.

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paywall
September 10, 2026

Latest Articles

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There are ~180 net nets in Korea, and I’m writing up all of them

You don’t wanna miss this.

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August 19, 2026

The fund that ran out of the thing it was named after

Two lessons in the wreckage of Situational Awareness.

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August 4, 2026

My investment method (part 4)

Valuation, my two investment buckets, and position sizing.

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December 17, 2025

Hunter of ridiculously cheap off-the-map stocks

Sung Capital is an alternative asset management firm run by Oliver Sung. We invest capital for families, registered investment advisors, and accredited investors through a private investment fund.

We pick underpriced stocks, usually in pockets of the market where large pools of capital (funds and institutions) can’t or won’t invest. We pick stocks only, use no leverage, and require a significant margin of safety in every investment.