TB Value is an independent research journal focused on businesses, valuation, risk, and long-term value creation.

The goal is to study companies with a simple question in mind: what has to be true for this to be a good investment, and what could make that thesis wrong?

The writing is intentionally selective. Some notes will cover businesses that may be worth owning. Others will cover companies, industries, or situations that are better avoided.

TB Value is written under the initials T.B.

Nothing published here is financial advice. Please read the disclaimer before making any investment decision.