Valuation, Bitcoin, and the European Edge – A Conversation with Heavy Moat Investments
About this episode
The episode features a conversation with Niklas from Heavy Moat Investments about his investing philosophy and unique approaches to valuation and risk.
In this episode, we are joined by Niklas – better known as Heavy Moat Investments – a 26-year-old former software developer from Germany who’s carved out a niche in deep, thoughtful equity research. With over 22k followers on X and 9k on Substack, he’s quickly become a go-to voice for long-term investors who care about moats, valuation frameworks, and owning quality. We cover:– How Niklas got into investing and how his thinking evolved– His valuation approach: intrinsic value vs multiples, TSR thinking, and adjusting to business life stages– Portfolio concentration and how he contrasts with investors like Andrew who take 40% positions– Risk appetite in younger generations: why are so many drawn to options, leverage, and momentum?– Unique asset classes (yes, even Bitcoin and CS skins)– Whether it’s possible to inspire others about investing – and why so many just don’t care– What he’s been reading and watching lately Tune in for a wide-ranging and honest conversation with someone who’s combining deep research with a growing audience – and doing it his own way. Get full access to Compound with René at www.compoundwithrene.com/subscribe
People in this episode
Host: René Sellmann
Guest: Niklas
Topics covered
- valuation
- investing
- equity research
- portfolio management
- risk appetite
- unique asset classes
Keywords
- valuation frameworks
- intrinsic value
- portfolio concentration
- options trading
- long-term investing
- moats
- TSR thinking
Mentioned in this episode
Organizations: Heavy Moat Investments
Products: Bitcoin
Books & works: Compound with René
Places: Germany
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