Home
→
Books
→
Where the Money Is
Where the Money Is

Value Investing in the Digital Age

Framework

by

Adam Seessel

2022

2022

A framework-driven investing book by Adam Seessel, founder of Gravity Capital Management, that updates value investing for the digital age. Seessel traces the evolution from Benjamin Graham’s Value 1.0 to Warren Buffett’s Value 2.0, and introduces his own Value 3.0—designed for evaluating high-growth, asset-light digital businesses. Drawing from personal experience and investment missteps, Seessel explains why traditional value methods improperly value modern tech firms. The book includes clear case studies showing how he applies this to several technology companies.

Order now ON
Jermaine's Notes
Read

July 2023

Lightbulb moment: Seessel’s concept of "earnings power" is a modern update to Warren Buffett’s “owner’s earnings,” tailored for digital growth companies. It helped me realize that earnings aren’t apples-to-apples—company stage and growth prospects distort comparisons. Michael Mauboussin has made similar points: GAAP accounting, built for physical assets, misrepresents digital businesses by expensing investments that should be capitalized. Seessel’s background includes working with Chris and Shelby Davis at Davis Selected Advisors.

Connected Books
Margin of Safety
Read

June 2023

📚
0 connected books
A framework book on value investing by Baupost Group cofounder Seth Klarman. It explains how disciplined investors can generate strong returns while minimizing the risk of permanent capital loss, with the core principle being to demand a margin of safety — valuing assets independently and only buying when prices fall well below that value.
Learn more →
Learn more →
Security Analysis, Seventh Edition
Read

November 2023

📚
0 connected books
A framework to value investing that explains how to identify, analyze, and buy stocks trading below their intrinsic value. Originally written in 1934 by Benjamin Graham during the Great Depression, the book is considered by many to be the bible of value investing. This Seventh Edition includes a foreword by Warren Buffett and chapter introductions by notable investors such as Seth Klarman, Todd Combs, and Howard Marks—bringing modern relevance to Graham’s timeless principles.
Learn more →
Learn more →
The Warren Buffett Way
Read

December 2024

📚
0 connected books
Framework for investing process used by Warren Buffett. This book breaks down each step in Buffett’s investment process. Buffett’s investing strategies and philosophy are detailed and connected to his framework and checklist. Examples of how Buffett applied this framework with some of his largest investments are detailed in the book.
Learn more →
Learn more →
Connected Posts
 
Connected Entrepreneurs
No items found.