HeyJaredFairlight Research
Alternative investment manager. Not investment advice. info@fairlightcapital.com
- Indexed issues, last 90 days
- 4
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- Sep 25, 2026
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- Earliest in this view
- Jul 17, 2026
Latest issues
Rapidly Growing AI Tech Business Below 7× EBITDA Valuation (opens the original)
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This AI tech company has recently taken a hit from slowing growth, now trading below 7× EBITDA and potentially much lower for 2027 dependent on future growth. Cyclicality in revenues as larger customers are won into the business has caused market jitters sending the valuation lower. If this variability in revenue growth proves temporary and the long-term trajectory follows the path of recent years, this could be the beginnings of a multi-billion dollar growth story.Following in the path that oth
Cash-Rich, High-Moat Niche Software Business Trading at 5.8× Earnings (opens the original)
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This post will cover another East Asian business that, on the surface, trades very cheaply on an earnings basis (less than 6×). It has grown substantially over the last few years (growing 30% in 2025), with a series of partial moats in a business that has exceptionally high switching costs. Building cash over the past few years, it now shows strong signs (encouraged by the regulator) of returning larger amounts to shareholders through dividends and share buybacks. A truly global business in a ra
The Quickest Path (opens the original)
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This post will discuss a less liquid, smaller name than most that we discuss. One for the smaller investor, it lies in an obscure region and sector, largely overlooked even by its home country. It exhibits many characteristics we look for, being cheap, with a growing business, founder-owned, and specializing in a niche business. It also shows hints of business inflection, with several operating segments expanding together.We will discuss all of that here, some of the technicalities behind their
What Have We Learned? (opens the original)
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In this piece we will try and answer the questions that we are always asking about new, potential investments. Is the name cheap in terms of its business fundamentals, growth, and opportunities? Is the growth likely to continue to help drive re-rating and act as a catalyst? And what are the risks to the investment?Business valuations track the free cash flow and growth in the underlying business, so we want to know how all of the underlying metrics point in terms of those equations. How fast mig
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