Annual Letters 07 Jan 2025 2024 Annual Investment Letter “Long tails [highly unlikely, perhaps unexpected events] drive everything. They dominate business, investing, sports, politics, products, careers, everything. Rule of…
Commentaries 09 Dec 2024 “Beliefs are like possessions….” – Robert Abelson, Professor, Yale University November 2024 Commentary
Commentaries 13 Nov 2024 "To me, the most beautiful word in the world is 'tariff…” – Donald Trump October 2024 Commentary
Commentaries 09 Sep 2024 “Volatility is often a symptom of risk but is not a risk in and of itself. Volatility obscures the future but does not necessarily determine the future.” – Peter Bernstein August 2024 Commentary
Commentaries 12 Aug 2024 “Time is the friend of the wonderful business, the enemy of the mediocre.”- Warren Buffett July 2024 Commentary
Commentaries 10 Jun 2024 “We now live in a world where information is potentially unlimited. Information is cheap, but meaning is expensive.”- George Dyson, technology historian May 2024 Commentary
Commentaries 10 Mar 2024 “The Federal Reserve cannot solve all the economy’s problems on its own.”- Ben Bernanke February 2024 Commentary
Commentaries 05 Feb 2024 “Living is easy with eyes closed. Misunderstanding all you see.”- from “Strawberry Fields Forever” by The Beatles January 2024 Commentary
Annual Letters 29 Dec 2023 The Concept of Time “Once a King in Narnia, always a King in Narnia. But don't go trying to use the same route twice.…
