What started as a hobby has grown into one of my favourite pursuits — studying markets, building a portfolio, and thinking carefully about the long game.

Since 2021, I’ve been writing annual letters to my future self — much like a CEO addressing shareholders. Each letter reviews the year: portfolio allocation, results, mistakes, and outlook. The portfolio has grown steadily since 2021, with an ambitious long-term goal in sight. The strategy is built around a concept called “look-through” earnings — owning stakes in businesses that compound over time, across ETFs, individual stocks, and savings.

The goal of this blog is simple: to put my ideas in writing, hold myself accountable, and create a record I can look back on — and one day share with family.

I choose to remain anonymous. What matters here isn’t who I am, but the quality of the thinking and the honesty of the journey.

Welcome to Palhagões.