![]() And hope this simple checklist will help other investors with other investment opportunities as well. At the same time, I wanted to share a few items on my checklist that helped us identify it in the first place. And as such, I want to use this opportunity to say farewell and wish the business the best in the new Oak Street family. Given the pending acquisition, this article is very likely our last article on STOR. Combined with its dividend yield, on average about 5% in the past years, shareholders who bought in under $30 are rewarded handsomely, especially if you consider the fact that the overall market suffered a double-digit correction during the same period. The acquisition price tag represented a premium of about 20% to its closing stock price as of Septem(the day before the agreement was announced). STOR recently announced a definitive agreement to be acquired by Oak Street at $32.25 per share in an all-cash transaction. We recommended "buy" when prices dipped below $30. Our view was that the market overacted to the perceived effects of interest rate hikes. We have turned bullish since early 2022 as the valuation becomes compressed as seen in the chart below. ![]() STOR showed on our radar in August 2021 and we started covering it. This checklist has helped us avoid major mistakes and also identify successful opportunities such as the main topic for today: STORE Capital ( NYSE: STOR). ![]() People in professions like investing and surgery, typically highly intelligent and highly trained, tend to believe their success depends not on dumb checklists but on improvision and intuition - even against mounting evidence.īeing disciplined investors ourselves, we have been developing our own checklist over the years. ![]() The Author, being a general surgeon (and also a professor at Harvard Medical School), analyzed the root reasons. In a book entitled "The Checklist Manifesto - How to Get Things Right?", the author Atul Gawande made a convincing and insightful argument about the need for checklists, especially in professions where checklists are particularly frowned upon. ![]()
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