Semper Augustus focuses on business quality and fundamental analysis of intrinsic value to build a portfolio of undervalued companies. Underpinning this effort, is a robust and systematic approach to making appropriate adjustments to financial statements. In addition to determining true long-term profitability, this process helps to identify situations where balance sheet items are mistreated, revenue is recognized improperly, where a company may be too exposed to changes in interest rates or when accounting standards are otherwise being misused.

Chris Bloomstran, in this YouTube video, shares valuable insights for successful investing in stocks and life. He warns about the risks of investing in software companies and profitless businesses with high multiples to sales. He emphasizes the need for caution when paying large multiples to sales for businesses without profits and advises investors to carefully consider profitability and valuation. Bloomstran discusses the investment approach of Bob Smith, who navigated the 1930s market crash by buying undervalued assets and holding onto stocks for decades. He also reflects on his relationships with war veteran Bob and successful investor Tom Smith, highlighting their wisdom and ethical character. Bloomstran shares his own investment philosophy, focusing on value, fundamental analysis, and dual margin of safety. He believes in the importance of understanding business quality, analyzing financial statements, and considering price when investing. Overall, Bloomstran's insights provide a guide to successful investing in stocks and life.