Welcome to my substack!

This substack is about investing and how to become a better investor.

Let me start by explaining the complicated name, Investacus. I love investing and warriors, specifically the gladiator Spartacus, my nickname at university. By combining investing and Spartacus, Investacus was born. I am also very fond of the history of gladiators earning their freedom by winning enough battles; the same is true in the stock market. With enough victories (great investments), you can be free from needing monthly labor.

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A little introduction of me, just so you know whose word you are reading.

My name is Douglas Forsling, and I am a former equity analyst (covered igaming/gambling and fintech) and business controller in one of the largest companies in the world. My motto is "Be water, my friend."

I am a passionate investor with a lifelong interest in how investing can be used to achieve my goals. I also hosted the podcast Game of Stocks. Lastly, I am a board member of the Swedish Young Shareholder Association, the largest association for young shareholders worldwide.

For more than a decade, I have invested in the public markets and for almost four years in the private markets. Combining it with my experience as an equity analyst and business controller, I think I can have a unique perspective on investments and companies. I believe fundamental analyst who does their homework almost should be able to consult for the company they are following and give advice on how to develop its business forward.

I am a stock picker who tries to be versatile in cases and the types of companies I put in my portfolio. My motto is "Be water, my friend" This is part of a quote from Bruce Lee; the full quote is:

"Be Water, My Friend.

Empty your mind.

Be formless, shapeless, like water.

You put water into a cup, it becomes the cup.

You put water into a bottle, it becomes the bottle.

You put it into a teapot, it becomes the teapot.

Now water can flow or it can crash.

Be water, my friend."

There is a lot of knowledge in martial arts, which is helpful for an investor to adopt, and I hope to transfer some of the martial arts knowledge and perceptions to you as an investor. For example, the most potent weapon in martial arts is the mind, so it is essential not to lose it, and it is almost as important in investing not to lose its mind.

I believe that true success comes from learning about the world around us as much as possible, and I do this through reading books, watching documentaries, and listening to podcasts. It is essential that you try new things and learn from them rather than sticking with what has worked in the past.

I also believe that success comes from being open-minded, flexible, and willing to change when things aren't working out as planned.

As a stockpicker, I am agnostic to what kind of case I am investing in; you can divide it into two categories; Compounders (hopefully tenbaggers) and Value Cases (or what some call special situations).

As a compounder, I look for the following: expecting above 10% growth per year for at least three years, high scalability in costs and investments, excellent management, high ownership by management and board (preferably by the founder), moat, market leadership, or niche market leadership, riding on a megatrend, and sound valuation. I call it QARP (pronounced carp like the koi fish), Quality At a Reasonable Price. I usually look for companies within these sectors: fintech, igaming/gambling, cyber security, gaming, digitalization, and recently Medtech. I also look into other sectors; however, I need to increase my margin of safety due to less knowledge about the market and competitive landscape.

In a value case, I look for clearly undervalued assets. It needs to hit you in the face how clear it is after some digging. Because if it were out in the open, the investment wouldn't be mispriced. Necessary to look for here is a management that is incentivized to disclose these values, has the capabilities to realize these values, pays a dividend, and is noncyclical.

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Featured articles

Articles from other sources which I have participated in.

News articles (Swedish)

Aftonbladet - "Det viktigaste är att det inte händer igen"

Aftonbladet - Kortjätte köper upp svenskt fintech-bolag

Aftonbladet - Miljardförlust för Klarna

Aftonbladet - Tio år utan Jobs – Apple har erövrat tronen

Expressen - Analytikern: Så förändras Klarnas affär

Göteborgs-Posten - Miljardförlust för Klarna

Göteborgs-Posten - Tio år utan Jobs – Apple har erövrat tronen

Göteborgs-Posten - Kortjätte köper upp svenskt fintech-bolag

Göteborgs-Posten - "Det viktigaste är att det inte händer igen"

Omni Ekonomi - Expert: Apple Pay Later blir tuff Klarna-konkurrent

Omni Ekonomi - Analytiker: Klarna kan senarelägga noteringen

Omni Ekonomi - ”Ödesår för Klarna – måste klå kreditkorten”

Omni Ekonomi - Analytiker: Klarna hade inget val – tar snart in nytt kapital

Omni Ekonomi - Expert: Bara första hyvlingen i Klarna – fler bolag står på tur

Omni Ekonomi - Analytiker: Byter strategi – ska tjäna pengar på handlarna

Omni Ekonomi - Experter: Klokt beslut – vill ej framstå som bov i skulddrama

Realtid - Chefsavhoppen från Klarna: ”Ser inte bra ut”

Realtid - Experten om Apples nya betallösning: ”Blir jobbigt för Klarna”

Realtid - Krisen i Klarna: ”Sebastian måste sparka många fler”

Realtid - Nu lanserar Klarna e-handelns Airbnb

Realtid - Därför köper Klarna jämförelsesajten Pricerunner

Realtid - Så mycket är svenska fintech-bolag värderade

Realtid - ”Klarnas användare en tillgång som säljs in till handlarna”

Realtid - ”Klarnas agerande – ett publikfrieri”

SvD Näringsliv - Klarnas nya miljarder: ”Lite desperation”

SvD Näringsliv - Klarnas krisdrag: Lånar ut lägre belopp

SvD Näringsliv - Klarnas fall – från succé till krisläge på ett dygn

SvD Näringsliv - Klarnas drag: ”Kan vara förberedelse för börsen”

SvD Näringsliv - Klarnas värde högre än Nordens största bank

SvD Näringsliv - Tio år utan Jobs – Apple har erövrat tronen

SvD Näringsliv - Miljardförlust för Klarna

SvD Näringsliv - Kortjätte köper upp svenskt fintech-bolag

Blogs

Sofokles (Swedish) - Intervju - Big in Japan

Börskollen (Swedish) - Börskollen-intervju med “aktienörden”, poddaren och börsprofilen Investacus

Youtube

SparaCash (Swedish) - Q&A om aktier & fonder med Douglas Forsling

#uppesittarkväll (Swedish) - Den som inte frågar får inga svar

Podcasts

Investerarens podcast (Swedish) - Soundcloud | Spotify

Market Makers (Swedish) - #81 Den kommande japaniferingen - Soundcloud | Spotify

Disclaimer: Nothing is viewed as investment advice, it should only be viewed as inspiration and you should always do your own analysis of any asset before purchasing.