Timirlan Gumbatov - CEO and cofounder of ATLAS Capital investment company, member of the Board of Directors and co-chairman of the Investment Committee answered Oninvest's questions about investment rules;

What are you investing in - and why this particular one?

Invest in what we see potential in and what we know well. This is the philosophy of Charlie Munger -do not get involved in what you do not understand. We focus on technology, fintech, banks, and sectors where we have expertise and where we see long-term growth.

Do you remember your first investment? How did it go?

My first serious investment - Facebook shares. It went great. And, as often happens, after a successful start you start to think that it's all easy. But the market quickly brings you back down to earth.

What would you definitely not buy again?

Papers for the sake of hype. Anything that doesn't have a business model and cashflow behind it is uninteresting. Especially if bought simply "because everyone is taking it".

Who do you trust when making decisions?

Our investment committee makes decisions, but we always rely on facts and figures. We look at what the company produces and how this affects its capitalization. Everything else is noise.

Which investment has pleasantly surprised you?

Probably NVIDIA. We already realized that it's a monopoly in AI chips. But no one expected it to be that big of a shot.

When was the last time you made a mistake - and what did you learn from it?

At the beginning of the year, we hedged positions too aggressively, expecting a collapse due to Trump's trade rhetoric. But our macro indicators did not show any systemic risk, and the market went up. This reminded me once again: you don't have to be afraid of volatility if the fundamentals are sound. It's just that we live in a mental environment where everyone wants everything at once, and this sometimes affects even those who should be thinking strategically.

Are you more about strategy or intuition? Why?

Strategy. It keeps you on course. Intuition is, of course, also a part of experience, but it should be built into the system.

Buffet is a handsome man?

Definitely. He proved that discipline and horizon beat emotion and hustle.

What does an investor fear when the screen goes out?

That it won't make it out in time. Or that liquidity won't be there. No buyer is the worst.

What pisses you off the most in the investment environment?

Short-term thinking. Everyone wants to double in a week. And the attitude to investments as entertainment.

Have you ever been jealous of someone else's briefcase?

No. I know how much stress is behind every pretty number.

What did you spend the profits from your most successful deal on?"

I reinvested most of it. But basically I bought real estate, helped my parents: a house, etc. Comfort is also part of the result.

What has to happen for you to cache everything?

If our models start to show a systemic recession or global macro shift. Then cache and defense.

Do you have a guilty pleasure in investing?

Sometimes I like to play the reports. When we see a clear bias in expectations, it's a chance. Occasional, but accurate.

This article was AI-translated and verified by a human editor

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