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What would happen if you bought a handful of stocks and then left them alone for some time, like stashing valuables in a coffee can? If you picked the right ones, you might wake up one day with life-changing wealth.
Neeraj Khemlani introduces readers to this investing philosophy through the eye-opening story of a portfolio manager who has put it into practice. Matt Ankrum researched 100-baggers—stocks that have multiplied in value a hundred times over multiple decades—looking for what they have in common. Drawing on these clues, he hunts down and buys shares in what he thinks are tomorrow’s breakout companies, planning to gift his children a coffee can portfolio that could someday be worth half a billion dollars.
The Coffee Can Investor shares Ankrum’s process for identifying companies that can stand the test of time, as well as his stock picks. It explores the principles of long-term investing, emphasizing the power of compounding and why it pays to be patient. This book details the qualitative and quantitative aspects of 100-baggers, revealing that a surprising share are business-to-business companies, not just the business-to-consumer companies that typically grab headlines. Khemlani also recounts his own decision to make a coffee can of investments for his kids.
Engaging and fast-paced, this book is for anyone who wants to invest in enduring companies for the long term.
— Dan Rather, journalist and former anchor of CBS Evening News
Don’t view The Coffee Can Investor as telling you what to think, but rather as providing an example of how to think. It describes a logical process for stock selection, to be applied through rigorous implementation and ultra-long-term investment in a limited number of holdings. These are exactly the right elements, and for that reason I heartily recommend Neeraj Khemlani’s book to any would-be stock-picker. There’s just one more thing, though: The process has to prove out. This one just might.
— Howard Marks, cofounder and cochairman, Oaktree Capital Management, and author of The Most Important Thing: Uncommon Sense for the Thoughtful Investor and Mastering the Market Cycle: Getting the Odds on Your Side
A fascinating approach to growing wealth through the stories of companies that are expected to achieve outsized investment returns. Financial analysis and storytelling make this a must-read for investors.
— Tapan Bhat, former president and general manager, Yahoo Finance
This is a wonderful and incredibly useful book. When you turn the final page, you will be awed by the wisdom of one modest Kansas City dad, you will learn valuable lessons about how to invest, and you will admire Neeraj Khemlani for vividly sharing this tale.
— Ken Auletta, New Yorker writer and best-selling author of Googled: The End of the World As We Know It
It’s a great book. It’s a fun read. Buy it and read it.
Introduction: A Midwestern Dad on a Mission
1. The Boy from Beloit
2. Coffee Can Investing
3. The Eighth Wonder of the World
4. Matt’s 100-Bagger Study
5. Shibboleth
6. Diworsification
7. Flugelbinders
8. The New Magicians
9. Death and Taxes
10. Niches Make Riches
11. Nice Guys Finish First
12. Bourbon and Other Stunning Approaches to Policing
13. Don’t Let the Bed Bugs Bite
14. Dad’s Not Perfect
15. “The Road to Success Is Always Under Construction”
16. Somewhere, Something Incredible Is Waiting to Be Known
17. Network Effects Times Two
18. Drive Time
19. Chock Full?
Conclusion: Happy Thanksgiving
Acknowledgments
Notes
Index