Wiedower Capital | Long-term investing | Austin, TX

Investing for the long-term.

Travis Wiedower is the sole owner and Managing Director of Wiedower Capital LLC.

Investment Philosophy

Wiedower Capital invests in high-quality companies and CEOs that have industry tailwinds behind them and long runways for growth ahead of them. Qualitative factors are emphasized over quantitative, and the portfolio is concentrated with long holding periods.

A company is worth its future free cash flow discounted back to today. A discounted cash flow analysis shows that the majority of a company’s intrinsic value comes from the distant future (5-10+ years) as opposed to near-term results. If how a company will perform over many years is the majority of its worth today, then the durability of their competitive advantage is of paramount importance.

Because of this, my research is focused on how an industry may evolve over the next 5-10+ years and if the company’s competitive advantage can expand within that evolution. This is only possible if the CEO is focused on, and incentivized by, the long-term success of the company. More often than not, the CEO traits I look for are found in passionate founders who are internally driven to see their own business succeed.

Below are a few blog posts that go into more detail on some of the most important aspects of my investment philosophy. You can also sign up for my email distribution list to get notified of future shareholder letters and investment write-ups.

My investment process (4/12/18)

Time Arbitrage as a Competitive Advantage (4/6/18)

Is holding cash a good idea? (1/25/18)

Why I Prefer Founder-Led Companies (8/24/17)

Investor Letters

2019 Interim Shareholder Letter

2018 Annual Shareholder Letter

2018 Interim Shareholder Letter

2017 Annual Shareholder Letter

2017 Interim Shareholder Letter

2016 Annual Shareholder Letter

2016 Interim Shareholder Letter


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