📌What You'll Find Here
The Value Pond publishes 7 to 9 institutional-grade investment theses per year. Full dossiers on companies I believe are genuinely mispriced, with live Excel models and complete transparency on my own positions.
This is not a newsletter with weekly market updates, macro commentary, or a long list of stock ideas. I manage capital for a family office and produce independent research for institutional clients. Both activities inform each other, and this is where that research becomes available to a wider audience.
The content is structured as follows:
🔍 Full thesis: Complete institutional dossiers: 15+ pages, financial model, scenario analysis, and full position disclosure. Available to paid subscribers.
🔄 Thesis updates: Coverage of published theses when circumstances require it: earnings, catalysts, or material changes to the original case.
📊 The Pond Tracker: Monthly portfolio update with position changes, performance vs benchmarks, and pipeline. Free.
📝 The Pond Journal: Regular notes on markets, investing frameworks, and what I’m thinking about. Free.
📰 Articles: Sector analyses, reflections on capital allocation, and brief insights on companies I follow. Free.
What free subscribers receive: Access to the 5-minute drill — a teaser for every thesis — along with the Pond Tracker, the Pond Journal, and all articles.
What paid subscribers receive ($500/year): Full institutional dossiers · Downloadable Excel models updated as companies report · Continuous coverage of published theses · Complete disclosure of positions and movements.
What institutional subscribers receive ($1,500/year): Everything in the paid tier · Priority voting rights on the research pipeline · Direct Q&A access via email or call · Option to commission research on specific companies at a professional discount.
A note on who this is for: if you are looking for frequent content, viral ideas, or simple storytelling — this is probably not your place. If you value depth over frequency and are comfortable reading numerical dossiers on overlooked companies, you are in the right pond.
👤Behind the scenes
My name is Juan and I'm based in Spain.
I have been a Financial Analyst in multinational companies and CFO of an SME. That path led me to start managing wealth, something I had always been drawn to but hadn't seen as professionally possible until it happened.
I currently manage a family office and work as an independent analyst. My track record managing the family office stands at 26% annualised IRR since January 2023, against 15% for the MSCI World and 18% for the MSCI Europe Value over the same period.
Company analysis is my day-to-day. The Value Pond is where that work becomes available to a wider audience, and a way of holding myself accountable to the quality of my own research.
If you want to know more about me or contact me, you can do so through my LinkedIn or X.
🦆About The Value Pond
The pond I had in mind when I titled the blog is a quiet place, lost in the Dolomites, where almost nothing ever happens. For me, in investing, that is achieved by applying the principles that Buffett, Howard Marks, Seth Klarman, or Peter Lynch have taught all investors.
For me, “Margin of safety” is non-negotiable, “long-term” is not just a mantra, and “skin in the game” is not just a poster on the wall.
DISCLAIMER: All the information provided in this document is purely informative and does not constitute a buying recommendation (according to Spanish Law Article 63 of Law 24/1988, of July 28, on the Stock Market Regulator, and Article 5.1 of Royal Decree 217/2008, of February 15). DuckPond Value Research is not responsible for the use of this information. Before investing in a real account, it is necessary to have the appropriate training or delegate the task to a duly authorized professional.
Reach us on duckpond@duckpondvr.com
