Welcome to Fjord Alpha: The Hunt for 20%+ Yearly Compounders
Deep-dive analysis of Northern European mid-caps
The Mission: The 20%+ Compounding Machine
Few investors ever achieve life-changing returns. My mission is simple: to uncover the rare businesses with a realistic chance of compounding at 20%+ per year. Achieve this, and even a modest starting portfolio can transform into generational wealth.
My name is Fjord Alpha. I’ve spent the past 25 years analyzing companies. Now, as a private investor, I’m launching the publication I always wanted to read, independent, rigorous, and focused on the most fertile hunting grounds.
Why it matters?
The target is ambitious. Sustaining 20%+ annual returns over five years or more is extraordinarily difficult, yet it is what’s required to more than double typical stock market performance.
Consider a simple case: starting with €100,000 and investing an additional €1,000 each month. At a 20% annual return:
In 10 years, your portfolio grows to ~€1,000,000.
In 20 years, it exceeds €6,000,000.
By the time of retirement, you could be approaching €250,000,000.
That number may sound incredible but it is simply the mathematics of sustained compounding. This is the transformative power we are pursuing.
My Process & What to Expect
The best opportunities are rarely where everyone else is looking. My core focus is on mid-cap companies, particularly in markets that reward long-term discipline. I’ll also analyze compelling businesses outside that range when they present themselves.
Every memo is researched and written by me. My conclusions are my own, informed by a broad network of ideas and perspectives. I dig where I have a genuine intellectual interest, and I also use modern tools, including AI, to accelerate research and sharpen insights.
Here’s what you can expect as a subscriber:
Company deep dives: Long-form memos, starting weekly (thanks to a backlog of research), then likely shifting to bi-weekly to ensure quality remains high.
Regular updates: I will provide follow-up notes on the companies I cover as needed, after quarterly reports or when there is relevant news to analyze.
Intellectual honesty: My analysis will always lead to a clear verdict. If a company is a compelling opportunity, fairly valued, or a situation to avoid, I will state it plainly.
If this sounds like the kind of deep, long-term focused analysis you've been looking for, I hope you’ll subscribe and join me on the journey.
Welcome to Fjord Alpha.