Behind the Balance Sheet

Behind the Balance Sheet

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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.
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Stephen Clapham
Hedge Funds' Secret Weapon
Opportunities for asymmetric payoffs even in today’s tougher markets
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Stephen Clapham
The World’s Most Profitable Business You’ll Never Own
Inside Only Fans, our 130 Stock Tips Ranked and 2 Dreadful Sectors to Avoid
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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.
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Stephen Clapham
1
Scarcity, Status and 50x P/Es
Are These the Quoted World’s Greatest Trophy Assets?
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Stephen Clapham

May 2025

That Was the Week That Was: Hype, Hope & Hidden Value
Tech extravagance, a red flag hiding in plain sight, + 4 cheap quality stocks from a top fund
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Stephen Clapham
🔍 A Value Trap in Action: Lessons from A Painful Post-Mortem by Schroders
Plus 36 Actionable ideas from 12 Investment Pros at this week’s Value Conference
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Stephen Clapham
3 ½ days in Omaha
My takeaways from the meeting and more
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Stephen Clapham
1
Two Quality Companies the Market Hates Right Now
Falling Knives or Misunderstood Gems?
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Stephen Clapham

April 2025

How Jennifer Wallace Beats the Market with Low Risk
2 of her current high-conviction ideas plus a quality growth stock
The Secret That Drives Company Returns
+ Ideas from Hosking Partners, GQG, and the Cheapest 4x PE Large Cap You Never Bought (but still can)
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Stephen Clapham
Tariffs, Trump and Tumbles: What If the Market’s Got It Wrong?
From tariff turmoil to treasury tremors, here's a grounded, global, and slightly grumpy take.
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Stephen Clapham
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