About
This is an investment journal and a support page for backrunner.io - 13F idea sourcing tool that I made for myself and then decided to share it.
Welcome!
Who I am
My name is Ilya. Engineer by trade. I spent years managing operations in Middle East, Central Asia and assets in Caspian region.
So let’s just say, that except for MBA I have ZERO formal financial education. I’m a practical, wrench-wielding kinda guy.
Money saved were invested into a passive portfolio since 2014. ETFs, global allocation, Meb Faber’s framework. I ran it for a decade. Learned a lot. Mostly learned that sitting still is harder than it sounds. But it works.
My passive portfolio compounded at more than 7% a year. But it’s all there is to it - it’s passive. No fun.
Along the way I got into data science through Yandex’s program, started applying AI to engineering problems at work, and realised the same tools could change how a single retail investor does fundamental research.
I always was a bit of a Buffet and Munger fan. But their approach is time-consuming to say the least. AI changes that if you know how to apply it and not let yourself drift into psychosis state.
Reading 10-Ks, pulling financial data, building DCF models, screening for quality factors - things that used to take a team of analysts and a Bloomberg terminal.
So I’m taking another stab at value investing. This time with a decade of passive experience, a business education, and AI doing the heavy lifting on data processing. The judgment is still mine.
What this is
backrunner is a notebook, not a newsletter.
For this Substack I run a small active portfolio - started with $55,000 in cash, buying into beaten-down stocks one position at a time. Every position is disclosed with entry price and size. Every P&L is public - including the ugly ones.
What you get here:
Stock deep dives with full DCF models. Not just a fair value number - the complete assumption set, the math.
Backrunner.io news - the tool I’ve built and now keep developing for my readers to enjoy. It helped me source great ideas and to correctly approach their analysis.
Portfolio updates with real numbers. What I bought, what I’m watching, what I passed on and why.
Process posts about how I actually make decisions. The framework, the mistakes, and the part where I sit on my hands for months doing nothing. That last part is the hardest.
What this is not
I’m not a financial advisor. I don’t have a CFA. I don’t manage money for anyone but myself. I will never tell you what to buy.
I’m a retail investor who does the work and shares the notebook. Sometimes the work leads to a good trade. Sometimes it doesn’t. Both are documented.
If you’re looking for stock picks or trade signals, this isn’t it. If you’re looking for someone showing the real process of trying to beat the market with limited resources and honest math - pull up a chair.
Don’t let FOMO eat you alive.
