In this brilliant interview with Blue Box Asset Mangement's William de Gale we talk about everything from how to account for growth and financial modeling to his own clever and insightful mental models for tech investing. William deGale is the Lead Portfolio Manger of the Blue Box Global Technology Fund and, as of the end of March 2025, the fund has returned ~17% per annum since inception in 2018.

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Show Notes

(0:00) — Background

(4:55) — Growth Expectations, Nvidia, Buying Optically Expensive Stocks

(17:55) — Modeling and Reverse DCFs

(21:28) — Riding the Tech Sector

(25:19) — Why Tech and “Direct Connection”

(34:43) — Disrupters vs Enablers

(41:51) — GAAP adjustments and Mature Margin Frameworks?

(53:15) — Circle of Competence in High Tech

(57:51) — Champagne Glass Model of Tech Investing

(1:08:13) — Position Sizing

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Disclaimer

Nothing in this podcast is investment advice nor should be construed as such. Contributors to the podcast may own securities discussed. Furthermore, accounts contributors advise on may also have positions in companies discussed. Please see our full disclaimers here: https://speedwellresearch.com/disclaimer/