Long term first
Most of the portfolio is invested in companies we expect to own for years. We study the business, its management, its balance sheet and how it is financed, and we buy only when the price leaves room for being wrong.
Independent investment fund · Czech Republic
Long-term investing, built on our own research.
VosiCapital is an investment fund based in the Czech Republic and managed by Simon Vosátka. Most of our capital is invested for the long term in companies we have studied in depth. Alongside that core, we take selective short-term positions when our research gives us a clear reason to.
Approach
How we invest
Being independent lets us act on our own research. We do not have to follow an index, we can wait for the right price, and we can say no to most of what the market is excited about.
Short term, when the case is clear
We also take shorter positions, over weeks or months, when our research points to a specific catalyst. They are a smaller part of the portfolio, and we decide how much we are prepared to lose before we enter.
Risk before return
We ask what can go wrong before we ask what can go right. Every position is sized so that a mistake costs us a lesson, not the fund.
We do our own work
We read the filings, the bond data and the footnotes ourselves, and we write our views down. Some of that writing we publish, because putting a view in public is the best way to test it.
Research
Essay · October 2026
The most visible crisis
The AI bubble and the crisis nobody saw coming
“This is the most visible crisis in the history of the stock market. And it has not even happened yet.”
How the money behind the AI boom is organized, why that organization is fragile, and what could happen when it breaks. Based on an analysis that ran from February to October 2026.
Capital spending of the five large hyperscalers
Alphabet, Amazon, Meta, Microsoft and Oracle · 2027 and 2028 are consensus estimates
Manager
Simon Vosátka
Fund manager, VosiCapital
Simon manages the VosiCapital portfolio and writes its research. He has invested in the stock market since he was twelve, through the crash of 2020, the meme-stock year of 2021 and the rate shock of 2022.
He studies at Aarhus BSS, the business school of Aarhus University in Denmark. His work focuses on individual companies and on how markets are financed: balance sheets, bond issuance and the commitments that do not appear on them.
“Markets can stay irrational for a long time, but the way a bubble is financed decides how it ends.”
Contact
Get in touch
For questions about VosiCapital or our research, write to us by email.
VosiCapital · Czech Republic