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Alpha Bets 27 — the triple filter

Fund A's universe filter. Three criteria — massive absolute FCF ($50B+), reinvestment runway at attractive returns, structural indispensability.

Concept

TL;DR: Alpha Bets 27 is the triple filter Fund A applies to identify the universe of investable names. Three criteria, all required: massive absolute free cash flow ($50B+), high reinvestment runway at attractive returns, structural indispensability. The "27" is the year horizon (2027 onward) framing the thesis. Status as of 2026-05-04: Stable methodology. Cornerstone names: BRK.B, AAPL, MSFT, GOOGL, META, AMZN, NVDA. The Seven GDP Pillars frame extends the universe with critical physical infrastructure (power, grid, data centers, logistics) as the 7th pillar.

Relations

The three filters

1. Massive absolute free cash flow ($50B+)

Annual run-rate FCF, not GAAP earnings. The threshold is intentionally extreme — only ~10-15 US-listed names clear it consistently. This is the moat-as-cash-flow filter: if a business does not produce $50B/yr in FCF, no compounding story makes it a Fund A position.

2. High reinvestment runway at attractive returns

FCF that has somewhere to go — capex, R&D, buybacks, M&A — at returns above WACC. A business throwing off cash with nowhere to compound is a value trap, not an Aloha position.

3. Structural indispensability

The "would-the-world-stop-functioning" filter. Apple's iPhone supply chain. Microsoft's cloud infrastructure. Google's search-and-ads two-sided market. Meta's identity graph. Amazon's logistics. Nvidia's compute substrate. Berkshire's underwriting + operating sprawl. Not "great brand" — closer to "society would have to redesign itself to remove this."

All three must hold. Two-of-three is a watchlist.

The Seven GDP Pillars frame

Companion structural lens. Six conventional pillars (energy, materials, industrials, financials, communications, consumer) plus a deliberate 7th: critical physical infrastructure — power, grid, data centers, logistics. The 7th captures the AI-era theme: the infrastructure under the AI infrastructure.

Why "27"

Forward-horizon framing. The thesis is constructed for 2027-onward outcomes — names that compound through the next decade of AI / data / compute capex. The filter is calibrated against where these businesses will be under their reinvestment runways, not their TTM print.

What Alpha Bets 27 is not

  • Not a screen. Quantitative filters approximate the criteria but human judgment finalizes inclusion.
  • Not a buy list. Inclusion is a necessary condition; entry is signal-gated by the DNSA Engine.
  • Not exclusive of Charlie/Warren/Simons/Dalio influences. The filter is the synthesis: concentration (Munger), permanent capital (Buffett), discipline (Simons), regime-awareness (Dalio).

A note on framing

This page describes a framework. It is not, and is not intended to be, a solicitation, an offer, or LP-facing material.

Sources

  • Internal Hussh source note - Alpha Bets 27 triple-filter methodology and cornerstone-name frame.
  • Aces / Kings / Queens / Jacks - tiering applied within the Alpha Bets universe.
  • Aloha Flywheel - operating loop for the universe.
  • DNSA Engine - signal gate for entry discipline.