June 11, 2026

Japan’s most mispriced compounder

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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Japan’s most mispriced compounder

Recurring revenue collected years upfront, millions of users who have never heard of it, and a growth story few are underwriting.

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paywall
June 11, 2026

Versant is a value trap

Sorry, Einhorn.

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paywall
May 21, 2026

All BARK, (probably) no bite

A take-private fight with a 47% spread in play.

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paywall
February 20, 2026

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.