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# Best (Anecdotal) Investments I Had? Following the Money
- URL: https://barbarosozturk.com/blog/best-anecdotal-investments-i-had-following-the-money/
- Published: 2026-01-20T23:22:12.000Z
- Updated: 2026-01-20T23:22:12.000Z
- Author: Barbaros
- Tags: Economy & Markets, Geopolitics & Defence, BlackSky, QXO, Brad Jacobs, Peter Thiel

## I used to read balance sheets. Now, I read the guest lists of private dinners.

**Inspiration:** A throwaway line on the *Prof G Podcast* about “following the capital, not the earnings,” and realizing that valuations are just feelings with math.

**Disclaimer:** *None of this is financial advice. I am a marketer, not a wealth manager. Do your own research.*

I started investing during the COVID era.

Like everyone else, I got sucked in by the **GameStop** saga. I saw lines going up, and I wanted in.

But I’m a nerd. I didn’t want to just gamble; I wanted to understand *why*. So, I went deep. I read every book I could find. My favorite was Benjamin Graham’s *The Intelligent Investor*. I became obsessed with valuations, P/E ratios, and “margin of safety.”

I tried to be a “Value Investor.” I avoided crypto because I couldn’t value it. I tried to find undervalued companies.

And I got burned.

I put a little money into Cathie Wood’s **ARK** funds early on. I thought I was investing in “innovation.” I learned the hard way that “innovation” without “profit” is just speculation. The downside was brutal.

![](https://storage.ghost.io/c/64/81/648165b7-979e-43dd-9c43-02101159f467/content/images/2026/01/image-151.png)

### **The Pivot: “Follow the Money”**

Then, I heard Scott Galloway say something on his podcast: *“Don’t follow the earnings. Follow the money.”*

It clicked. The market isn’t efficient. It’s a game of musical chairs played by billionaires. If you want to win, you don’t look at the chair; you look at who is controlling the music.

So, I stopped looking for “value.” I started looking for “leverage.”

![](https://storage.ghost.io/c/64/81/648165b7-979e-43dd-9c43-02101159f467/content/images/2026/01/image-152.png)

### **Case Study 1: Jared Kushner & QXO**

I read Jared Kushner’s book when it came out. Regardless of politics, it was clear he operates in a different league of capital access.

I got curious. *“Where is he putting that Saudi PIF money?”*

I fired up **Gemini Deep Research**. I dug into Affinity Partners’ filings.

I found a weird ticker: **QXO**.

It wasn’t a tech company. It was a building products distributor. Boring, right?

But then I looked at the board. **Jared Kushner** was a director. And the CEO? **Brad Jacobs**.

This sent me down a rabbit hole. Brad Jacobs is the king of the “roll-up.” He built **XPO Logistics**, **GXO**, **RXO**, **United Rentals**, and **United Waste**. He takes fragmented industries, buys everyone, and scales to billions.

**The Thesis:** You have the best operator in history (Jacobs) backed by the deepest pockets in the world (Kushner/PIF). The valuation didn’t matter. The *network* mattered.

**The Result:** QXO became one of the best performers in my portfolio, crushing the “value picks” I spent weeks analyzing. 

![](https://storage.ghost.io/c/64/81/648165b7-979e-43dd-9c43-02101159f467/content/images/2026/01/image-153.png)

### **Case Study 2: Peter Thiel & BlackSky**

Same playbook. I wanted to see what **Peter Thiel** was touching.

I researched **Mithril Capital** (Thiel’s fund). I saw a connection to a guy named **JD Vance** (long before the VP run).

And I found a company called **BlackSky Technology (BKSY)**.

On paper, it was a risky satellite imagery company. High CapEx, competitive market. *The Intelligent Investor* would have hated it.

But look at the map.

- **Peter Thiel** (Defense tech godfather).
- **Mithril Capital** (Deep pockets).
- **The Geopolitics:** We are entering a world of transparent warfare. Real-time satellite intelligence is the new oil.

**The Thesis:** The US government *needs* this technology, and Peter Thiel knows how to get government contracts (see: Palantir).

**The Result:** BlackSky didn’t just survive; it thrived on government contracts. The stock appreciated massively, beating the S&P 500 handily.

![](https://storage.ghost.io/c/64/81/648165b7-979e-43dd-9c43-02101159f467/content/images/2026/01/image-154.png)

### **Conclusion: The New Due Diligence**

I still love *The Intelligent Investor*. It taught me discipline.

But in the modern market, “Value” is often a trap. The real alpha isn’t in the 10-K report. It’s in the network.

When Brad Jacobs starts a company, you buy it. When Peter Thiel backs a defense firm, you watch it. When Jared Kushner joins a board, you follow the money.

It’s not efficient. It’s not fair. But it works.