Sapiens Fund
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10 Commandments

These rules give structure to our investment process: clear thesis, clean risk work, and team accountability.

  1. We do not take anything out of the investment fund. Our entire operating costs are covered by sponsorships and other revenues.
  2. Our chief investment officers are judged based on the things they buy, not the things they avoid. We only show the return on invested capital of the companies they bought.
  3. Our fund is inherently diversified because it is split up into two chief investment officers. And even if each one of them goes 100% into one stock, we still have 2 stocks.
  4. We use revenue, costs, and long-term trends.
  5. Our club is inherently stable because it has constantly new students with new ideas that reinvent the club.
  6. We are singularly focused on return on invested capital. That means that we have no limits. We are ready to invest in Turkey. We are ready to invest in biotech. If the math maths.
  7. We don’t short stocks.
  8. We don’t introduce leverage.
  9. Our ideas are inspired from Value Investors Club, Tom Hayes, Mohnish Pabrai, Li Lu, and many other notable value investors.
  10. The chief investment officer is responsible for all his decisions.