Anyways, to generate high returns from traditional (low multiple) value investing you have to do it in markets that are less efficient than US equities.

I love rando niche markets and hope to do a thread on them and would love to hear about any and all that you're aware of! https://twitter.com/schaudenfraud/status/1350555705288351745

Under the guise of further $SPOT due diligence, I recently purchased some music royalties. It's obviously an extremly low liquidity market but their appear to be very attractive unlevered IRRs available...

The spinoff account has the crypto world covered, but there are entities with extremely high revenue growth available for single digit or low teens earnings multiples and literal net/nets. Triple digit yields are not uncommon. Was $wnxm below book value the next Geico!?

The caveat with crypto is it's entirely binary. All your analysis requires the current speculative enthusiasm remaining. That net/net doesn't have a huge margin of safety if the assets are in $ETH and Ethereum declines 95% again!

The value and activist investing in the crypto world pursued by @jdorman81 at Arca is fascinating. What they did at $GNO is a modern day equivalent to Ben Graham and Northern Pipeline

Forgot to include the link on net net activist investing in crypto with $GNO https://www.ar.ca/blog/investor-capital-is-being-withheld-from-gnosisdao

Another niche market, I've never dabbled in, non-traded agricultural stocks (mostly ethanol plants).
https://fncagstock.com/ 

There's a market for shares in tramways and chalets here, but only available to citizens of Switzerland and Liechtenstein

https://www.otc-x.ch/