Circle of Competence

Readers,

I have to first apologize for the length of time since my last post.  The financial world has changed forever and you have yet to hear a peep from me!  Needless to say, the brief conclusion I can make is that the financial markets are littered with opportunity both big and small.  The companies I’ve discussed remain compelling opportunities, though a little less cheap in the case of SNS and Sears.  New opportunities are arising daily.

I do have an fun announcement to make, though.   It seems I’ve been successfully recruited by a fellow named Tom Jacobs to become the newest employee of Complete Growth Investor (CGI), a “newsletter” run by two former Motley Fool analysts.  Tom Jacobs and Jeff Fisher each head up a portfolio of their own real money, reporting all trades and analysis to their subscriber base as it occurs.  In addition, a member forum gives subcribers a chance to discuss value investing at length and hear their responses as well as each other’s.

I first met Tom as the Western Sizzlin’ annual meeting in July.   Whilst sitting with my buddy Shane of Noisefreeinvesting, out of the corner I heard: “Jeff, Jeff Annello from the Circle of Competence Blog?”  

I cranked my head to the side.  Who the heck was this guy?  Turns out it was Tom, a gregarious 50 something with as much passion for value investing as I’ve ever seen.  Speaking to Tom about value investing is like speaking to a prisoner who found Jesus one afternoon; the passion is evident.

Tom and I had a chance to chat and he mentioned that he was a long time (I say it like 4 months is a long time, I know) reader and admirer of the blog.  Being floored (I’m a college student!), I proceeded to speak with Tom about WEST, SNS, Sears, and a host of other topics I enjoy conversing about.  As we parted, he mentioned that he had been looking for a young person for some time and might I be interested?   I replied that we should stay in touch.

Sooo…3 months later Tom has been successful, and I’ve given in.  My duties will begin for CGI as a research analyst, doing diligent work as needed for Tom and hopefully being a useful resource for the CGI members.  His partner, Jeff Fischer, is leaving to pursue what sounds like a terrific opportunity at The Motley Fool.  Thus, when Jeff leaves at the end of the year, Tom and I will be left as the “front office” employeees at CGI.  Alongside are John Morrow and Rob Fischer, the customer service and technical gurus, respectively, who do a great job making CGI function smoothly.

After that time, my role and duties for CGI are likely to expand.  There are many interesting structures that Tom and I are brewing up, suffice to say that excitement is ahead for the subscribers of Complete Growth Investor.  

What does this mean for Circle of Competence?  I’m not sure, yet.  I clearly have a new duty to CGI members and will fulfill it with zeal.  The blog has slowed considerably, as you know, as I went back to school in late August.  I hope to continue writing, and I will update you as I know more about my situation and my interests, that is for sure.  

In the meantime, I whole heartedly encourage you go over to www.completegrowth.com and check out the service that Tom and Jeff have built, and that Tom and I will continue to serve proudly as time goes forward.   For the price one pays, there is tremendous value to be found and you’ll see two passionate value investors at work in Tom and I.  I’m not a great marketer, certainly, in fact it makes me uncomfortable, but even I see what a great service they’ve built.  Tom thinks like I do, and Jeff Fischer I wish tremendous good luck at The Motley Fool, he’s been quite successful himself and I suspect that will continue unabated.  

If you’ve enjoyed the blog, you’ll certainly get a lot out of CGI, a service built on the notion that investing can be rewarding and profitable if the concepts of value and discipline are applied.  Tom doesn’t take himself too seriously and neither do I.   We both agree that investing is simple but not easy, fun but not to be taken lightly.

I want to close with this: so far, writing the blog has been tremendously rewarding.  I’ve met at least 2 or 3 individuals who have and will continue to have a huge impact on my life going forward and I am grateful for these opportunities.  My readers are the best out there and writing my ideas out has helped me grow.  What ever structure the blog will now evolve into, I am certain the experience has been positive.

Thanks to all my readers who have been supporting so far, and I hope the future is as fun as the past.

-Jeff Annello, author of the CoC blog