February 4, 2026

The circus at Auction Technology Group

Guides

…and how to (still) bank on them.

risk and uncertainty

In life, you rarely deal with purely risky situations.

research process

How to find and research stocks.

How to find and measure moats.

decision making

A framework for decision making that works.

349 models to make sense of the world and its outcomes.

Latest research

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The circus at Auction Technology Group

A scaled two-sided marketplace, a vulnerable board, and a fight that probably isn’t over.

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paywall
February 4, 2026

A take-private offer where intent, timing, and valuation all point in the same direction

Here are five questions I like to ask whenever a take-private offer shows up...

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paywall
December 4, 2025

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paywall
November 27, 2025

Latest Articles

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My investment method (part 4)

Valuation, my two investment buckets, and position sizing.

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December 17, 2025

Two quick updates

Removed the paywall on a liquidation play.

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December 1, 2025

My investment method (part 3)

How I dive deeper into a stock.

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November 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.