Monday, 6 February 2017


Welcome to The LT3000 Blog.

I have recently left a decade-long occupation as a professional securities analyst to pursue my passion as a full time investor, and perhaps eventually found and run my own fund. Owing to the now onerously-burdensome (and hence costly) regulatory requirements involved in establishing a fund these days, barriers to entry have risen for small-time punters such as myself. As a waystation, I am managing a small pool my own and friend & family money, and in the meantime, am enjoying being able to dedicate all of my energies to improving my capabilities as an investor. 

I have no grand ambitions for this blog – it just seemed like a fun thing to experiment with. I enjoy writing, and putting ones thoughts into writing is also a useful discipline. It quickly reveals any gaps in the chain of logic; missing facts; or insufficiently-scrutinized assumptions that may have crept into ones though process undetected. I do not wish for this blog to become a chore, however, so I intend to only post as frequently as a I feel inclined.

Aside from satisfying my inability to keep my thoughts to myself, my goals with this blog are to connect with other like-minded individuals; plug myself into the global value investor community; and to have my thinking tested by other competent investors. I primarily work alone at present so such testing is valuable. Please feel free to be as brutal as you wish in the comments (although please keep discussions with others civil) – I enjoy intellectual sparing and I am not easily offended.

The “LT3000” reference is a combination of my initials/nickname, and also a second nickname I acquired early in my career, “3000”, a jestful part-insult part-complement coined by a senior trader, which stuck.




  1. Hi Lyall, I recently stumbled across your excellent blog. Reading your comments on the forager blog and under intelligent investor articles I thought I would google your name to see what came up and subsequently came to your blog.
    Thanks for taking the time and effort to construct a number of high quality insights. Would you mind if I sent an email to the address you provided above. I have written a few small pieces here and there, but am still refining my investment technique.

    1. Hi Andrew. Thanks for your kinds words - appreciate it and glad you're enjoying the blog.

      Yes absolutely - please feel more than free to send me an email. I'm very far from the point where I'm overwhelmed by email traffic from the blog, believe me :-)


  2. Hi Lyall, this is Huchen who used to work with Adam and Matt Smith in Macquarie. I believe I have seen you a couple of times in Singapore office and Jakarta but probably did not have the chance to introduce myself. I really enjoyed your blog. After I quit my day job to do investing full time, Matt told me I wasn't the first one. You serve as an inspiration. Thanks and please keep sharing your thoughts on investment. Oh, I had a sizable position in Dongfeng from a year ago...Yes, a lot of cash on and off balance sheet.

  3. Wow. What a sensational blog. I just read your piece where you discuss your ideas generation methodology (I forget the title of the post).

    For someone who follows a "concentrated approach", and who tends to be drawn to detail (rightly or wrongly), and who seeks a high degree of certainty, it was... illuminating.

    I'm a bit slow, so don't think I could ever even attempt to mimic anything remotely like what you do. But I'm impressed.

  4. Hi Lyall,
    Sent here by Swen Lorenz and I'm pretty impressed with the content.

    Just a general thank you. :)

  5. Lyall - I, too, discovered you via Swen Lorenz. I am an amateur investor who is still overwhelmed and still learning. Appreciate folks like you that freely share your insight and experience. Take care!


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