Archive - Whiteout Capital

Update #2.2 - Making it to orbit

In this article, I revisit California Nanotechnologies following a significant revenue decline from its largest customer. Rather than focus on if or…

Jul 31

Defining "Holistic Return"

In this essay, I introduce Holistic Return—a mental model I use as a private investor to evaluate opportunities not just on traditional risk-adjusted…

Jul 28

Update #2.1 - The mysterious green steel company

In this article, I explore the identity of California Nanotechnologies’ green steel customer—a major driver of recent revenue. Drawing on press…

Jul 8

June 2025

Update #1.1 - Old habits die hard

After a ~436% return over two years, I’ve exited my position in Kraken Robotics (TSXV:PNG). In this post, I break down the reasons behind the…

Jun 26

Letter #2 - Newsletter (re)Launch

Announcing Whiteout Capital — I’m launching a new research newsletter focused on microcaps. Thoughtful, infrequent, high-conviction ideas. First writeup…

Jun 17

January 2024

Newsletter Launch

Letter #1 - 2023 recap and 2024 goals.

Jan 23, 2024

This is Whiteout Capital.

Jan 16, 2024

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