Wayman Value Investing
Guiding You to Greater Value
After decades of navigating markets both professionally and personally, I’ve learned that the most valuable insights often come not from daily market chatter, but from the occasional moments when clarity emerges from complexity. That’s the philosophy behind this newsletter - infrequent but thoughtful commentary on value opportunities as they present themselves.
This isn’t a typical investment publication. You won’t find hot tips or urgent calls to action. Instead, you’ll receive 1-4 carefully considered pieces per year, each one written only when I believe there’s something genuinely worth saying. In a world saturated with noise, sometimes the most valuable service is knowing when to remain quiet.
The focus remains unchanged: identifying businesses trading at meaningful discounts to their intrinsic value. But the approach has evolved. Rather than chasing every market movement, I now concentrate on sharing insights only when market conditions create truly compelling opportunities - or when prevailing sentiment has strayed so far from reality that perspective becomes essential.
Why Value Investing Endures
Value investing isn’t complicated, but it isn’t easy. The principles are straightforward: buy assets for less than they’re worth, maintain a margin of safety, and let time work in your favor. The difficulty lies in execution - particularly in maintaining discipline when markets reward speculation and patience feels like a liability.
I’ve spent years studying companies across industries, watching how markets price assets during various cycles, and observing which approaches consistently generate superior returns. The conclusion remains the same: sustainable outperformance comes from understanding value and having the temperament to act on that understanding when others won’t.
This newsletter represents my attempt to share those observations with investors who appreciate the difference between activity and achievement. Each piece will focus on specific opportunities or market conditions that warrant attention, always with an eye toward long-term value creation rather than short-term price movements.
A Different Approach
In an era of instant analysis and constant updates, this newsletter deliberately moves at a different pace. Ideas need time to develop, and markets need time to recognize value. The most profitable investments often require the longest holding periods - a reality that conflicts with the modern demand for immediate results.
I write only when I have something meaningful to contribute. This might be an analysis of a particularly compelling opportunity, commentary on market conditions that create unusual prospects, or observations about industry dynamics that others may be overlooking. The common thread is always the same: a focus on intrinsic value and the patience to let it be recognized.
Every recommendation comes with skin in the game. I own what I recommend because I believe conviction should be backed by personal commitment. This alignment ensures that my interests match those of readers - we succeed or struggle together.
Performance Accountability
Results matter more than rhetoric. The Wayman portfolio is independently tracked and audited by Hulbert Ratings, which has rigorously monitored investment advisory performance for over four decades. This third-party verification ensures transparency and provides an objective measure of how theory translates into practice. In a field where claims are easy to make but difficult to substantiate, external validation serves as a necessary check on both performance and credibility. You can follow our performance here.
Journey with Us
The goal isn’t to beat the market every quarter or generate the highest returns in the shortest time. Instead, it’s to compound wealth steadily over time while taking reasonable risks. Sometimes this means periods of underperformance. More often, it means sleeping well at night knowing that investments are based on sound analysis rather than market sentiment.
Join me for this occasionally published but always thoughtful examination of value opportunities in an increasingly complex market environment.
