Sandro Nangoythe wonderful business of compounding.https://sandronangoy.com/why doing nothing was the quarter's best tradehttps://sandronangoy.com/letters/2026-q2-patience-as-a-position/https://sandronangoy.com/letters/2026-q2-patience-as-a-position/The cash pile grew, the watchlist got longer, and not a single business I own got worse. A letter on holding still.Fri, 03 Jul 2026 00:00:00 GMTmoody's — what the price is actually assuminghttps://sandronangoy.com/models/2026-06-mco-reverse-dcf/https://sandronangoy.com/models/2026-06-mco-reverse-dcf/A reverse DCF: instead of guessing growth, I solve for the growth the market is already paying for. Spreadsheet attached.Sun, 21 Jun 2026 00:00:00 GMT