The Aquitaine Variant Portfolio

"Never, ever, invest in the present." The process behind the portfolio, in full.

Sep 6

10

2

August 2026

Lululemon: Second Thoughts

Why I exited in April — and why I'm back in at ~$117.

Aug 16

54

6

4

May 2026

Airbnb: What the Bears Are Missing

An unscripted moment from Chesky suggests consensus has the 2028 base badly wrong

May 10

13

1

6

December 2025

Lululemon: Pulse Check

LULU up ~20% since publication, CEO stepping down—what now?

Dec 14, 2025

9

1

November 2025

Three Stock Ideas

Months of research condensed into ~3,000 words

Nov 26, 2025

18

2

2

Lululemon: An Asymmetric Bet

Why I think LULU offers >50% upside from here

Nov 16, 2025

11

1

4