Hidden Investment Treasures

Praise for hidden investment treasures

"Hidden Investment Treasures is itself a treasure. Fundamental investment analysis the way it's supposed to be done, the book offers a marvelously educational series of business and investing case studies. Required reading for any investor determined to improve their own analytical process."
—CHRISTOPHER P. BLOOMSTRAN, Semper Augustus Investments Group

"Daniel Gladiš, the Czech author of Hidden Investment Treasures, named his fund after the Vltava. Also known as the Moldau, it is Bohemia's longest river and was immortalized in Bedrich Smetana's symphonic poem Má vlast ('My Homeland'). When it comes to investing, Gladiš is well worth your attention. He has an excellent track record. Moreover, he stands in a long tradition of fiercely independent Czech thinkers, stretching back to Jan Hus, whose reformation challenged entrenched dogma more than a century before Martin Luther. Czechia later resisted domination by both the Austro-Hungarian and Soviet empires. Gladiš, who grew up under communism, witnessed his country's shift to a market economy and forged his perspective as a global investor.

In his book, Gladiš offers incisive analysis of a series of investment case studies. I particularly enjoyed his case studies of lesser-known companies, like Jungfraubahn, a monopoly Swiss mountain railway with hidden real estate and pricing power, and Quálitas, the profitable, conservative 'GEICO of Mexico.' But his book also takes an outsider, independent Czech view of companies like Berkshire Hathaway, Markel and Stellantis, an underappreciated auto conglomerate chaired by John Elkann, who also oversees Ferrari through his family office, Exor, in Turin. Gladiš's book is well worth reading and should be on every investor's bookshelf."
—GUY SPIER, Aquamarine Capital Management LLC