Behind the Balance Sheet

Behind the Balance Sheet

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July 2025

Lessons from Billionaires, Blunders & a Walk Across Japan
What I’ve been Reading — Standouts, Stinkers, and a Sun-lounger Selection
 • 
Stephen Clapham
Balance Sheet First: The Rules Behind a $50bn Portfolio
David Samra’s investing playbook & the overlooked European stock we both like
 • 
Stephen Clapham
1
Where the Smart Money Got It Wrong
Conference picks that bombed — and now look better value
 • 
Stephen Clapham
2
Stocks for the Long Run: Lessons from 125 Years of Market Data
📊 And One Surprising Statistic That Challenges Consensus Thinking
 • 
Stephen Clapham
How Lateral Thinkers Can Make Billions
From Pumpkin Lattes to Primates: What Investors Can Learn from Marketers
 • 
Stephen Clapham

June 2025

47 Pro Tips Making New Highs + Rethinking Two Household Names
One isn’t as dull as it looks; the other isn’t as risky as it seems.
 • 
Stephen Clapham
Hedge Funds' Secret Weapon
Opportunities for asymmetric payoffs even in today’s tougher markets
 • 
Stephen Clapham
1
The World’s Most Profitable Business You’ll Never Own
Inside Only Fans, our 130 Stock Tips Ranked and 2 Dreadful Sectors to Avoid
 • 
Stephen Clapham
6
Private Equity’s Slow-Motion Crunch
Record dry powder, falling distributions, and 11.9x entry multiples—why the future won’t look like the past.
 • 
Stephen Clapham
1
Scarcity, Status and 50x P/Es
Are These the Quoted World’s Greatest Trophy Assets?
 • 
Stephen Clapham

May 2025

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