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What happens if the US loses reserve currency status? A reserve currency is the currency that people all over the world prefer to store their savings...
29th Apr 2024
23

What happens if the US loses reserve currency status?

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

29th Apr 2024
A reserve currency is the currency that people all over the world prefer to store their savings in. Today that currency is the US dollar. From the Middle East, to Asia, to South America — Whether it's a family that needs to keep some money around just in case or a country, most...
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The Network School We’re starting a new school near Singapore for the dark talent of the world. Apply online at...
16th Aug 2024
144

The Network School

from balajis.com [alt+shift+b] in finance

16th Aug 2024
We’re starting a new school near Singapore for the dark talent of the world. Apply online at ns.com/apply.
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When Labor is Scarce, Equity is the Mezzanine Tranche Plus! What Goes Up; Refinancing; Investor Relations; Scaling; Infrastructure
2nd Apr 2026
1

When Labor is Scarce, Equity is the Mezzanine Tranche

from The Diff [alt+shift+b] in finance

2nd Apr 2026
Plus! What Goes Up; Refinancing; Investor Relations; Scaling; Infrastructure
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Deposit franchises as natural hedges Many observe that banks seem to be blowing up due to predictable consequences of rising interest...
5th May 2023
45

Deposit franchises as natural hedges

from Bits about Money [alt+shift+b] in finance

5th May 2023
Many observe that banks seem to be blowing up due to predictable consequences of rising interest rates. How did we get here?
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There Is No Truth in Business, Only Knowledge 'Knowledge' here is defined as 'theories or models that help you predict better'. How an idea from...
4th Apr 2023
108

There Is No Truth in Business, Only Knowledge

from Commoncog [alt+shift+b] in finance

4th Apr 2023
'Knowledge' here is defined as 'theories or models that help you predict better'. How an idea from W. Edwards Deming may well be a working philosophy of business.
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OpenAI is not becoming a for-profit company after all. In a significant reversal, OpenAI announced on May 5, 2025, that it will remain under the control of...
5th May 2025
45

OpenAI is not becoming a for-profit company after all.

from Mazdak [alt+shift+b] in finance

5th May 2025
In a significant reversal, OpenAI announced on May 5, 2025, that it will remain under the control of its nonprofit entity, abandoning earlier plans to restructure as a for-profit company.
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The Market for Contrarian Talent Doesn't Clear Plus! Bootstrapping a Consumer-Facing Negawatt Market; Real Estate; Aggregators; Training Data;...
1st May 2026
1

The Market for Contrarian Talent Doesn't Clear

from The Diff [alt+shift+b] in finance

1st May 2026
Plus! Bootstrapping a Consumer-Facing Negawatt Market; Real Estate; Aggregators; Training Data; Supply Chains
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The One-Big-Side-Bet Model of Wealth Creation Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on...
2nd Dec 2024
51

The One-Big-Side-Bet Model of Wealth Creation

from The Diff [alt+shift+b] in finance

2nd Dec 2024
Plus! Diff Jobs; Building Japan's Financial Ecosystem; The New Balance of Trade; Where Return on Investment Goes; Broken ETFs; Swipe Fees and Accounting
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All Property Becomes Cryptography For 99%+ of what's valuable, for every financial asset and capital asset, we will secure it onchain.
28th Jul 2025
52

All Property Becomes Cryptography

from balajis.com [alt+shift+b] in finance

28th Jul 2025
For 99%+ of what's valuable, for every financial asset and capital asset, we will secure it onchain.
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The Gambling King The start of the Asian Conglomerates Series: we open with a look at the life of Stanley Ho, gambling...
2nd Feb 2025
69

The Gambling King

from Commoncog [alt+shift+b] in finance

2nd Feb 2025
The start of the Asian Conglomerates Series: we open with a look at the life of Stanley Ho, gambling king of Macau.
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Dealing with Recessions A look at how Four Seasons founder Isadore Sharp learnt to handle recessions in one of the most...
6th Oct 2026
2

Dealing with Recessions

from Commoncog [alt+shift+b] in finance

6th Oct 2026
A look at how Four Seasons founder Isadore Sharp learnt to handle recessions in one of the most cyclical industries known to man.
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Activist Investing in Asian Conglomerates How do Asian conglomerates play in capital markets, given pliable governments and weak regulators?...
3rd Mar 2025
58

Activist Investing in Asian Conglomerates

from Commoncog [alt+shift+b] in finance

3rd Mar 2025
How do Asian conglomerates play in capital markets, given pliable governments and weak regulators? We examine the career of one activist investor, to see what that tells us about the Asian tycoons we’ve been studying.
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The Digest #227 Final Issue: Bitcoin at $100K, Buffett and Munger Unscripted, Blue Chip Stamps, Flawed CPI...
5th Dec 2024
1

The Digest #227

from The Rational Walk [alt+shift+b] in finance

5th Dec 2024
Final Issue: Bitcoin at $100K, Buffett and Munger Unscripted, Blue Chip Stamps, Flawed CPI Statistics, Ergodicity, The End of Shame, Notre Dame, Online Censorship, Healthcare Costs, and more ...
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10 year review Wahoop! I have made it through ten years. In fact, I’ve had a trackable portfolio for over 20 years....
20th Jan 2023
83

10 year review

from FIRE v London [alt+shift+b] in finance

20th Jan 2023
Wahoop! I have made it through ten years. In fact, I’ve had a trackable portfolio for over 20 years. But 10 years ago I started tracking my portfolio in a consistent, monthly way – unitising its performance so I could measure its return. It wasn’t until 2015 that I started this...
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Putting Amazon’s PR/FAQ to Practice What it's like putting Amazon's famed Working Backwards process to practice in a small company...
8th Sep 2022
118

Putting Amazon’s PR/FAQ to Practice

from Commoncog [alt+shift+b] in finance

8th Sep 2022
What it's like putting Amazon's famed Working Backwards process to practice in a small company context, and what was surprising and difficult about it.
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Oct ’24: Budgets & broad shoulders I haven’t seen much of London in October. I’ve been away every weekend in October, partly in the UK...
2nd Nov 2024
106

Oct ’24: Budgets & broad shoulders

from FIRE v London [alt+shift+b] in finance

2nd Nov 2024
I haven’t seen much of London in October. I’ve been away every weekend in October, partly in the UK and partly visiting friends overseas. And now we’re in November, the clocks have gone back, but temperatures haven’t plummeted yet. London feels busy – pubs still have crowds...
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The Joy of Small Markets If you want to get rich, the irony is that small markets are often better than large ones.
2nd Sep 2025
45

The Joy of Small Markets

from Commoncog [alt+shift+b] in finance

2nd Sep 2025
If you want to get rich, the irony is that small markets are often better than large ones.
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Issue 78 – President on brink of bailout for bitcoin Trump tries to breathe life back into the crypto markets’ “Trump pump” while federal regulatory...
3rd Mar 2025
47

Issue 78 – President on brink of bailout for bitcoin

from Citation Needed [alt+shift+b] in finance

3rd Mar 2025
Trump tries to breathe life back into the crypto markets’ “Trump pump” while federal regulatory agencies wash their hands of any crypto industry oversight
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Sep 23: Antisocial markets For some reason shoplifting is in the news. There’s evidently an epidemic of it. Not just in the UK,...
8th Oct 2023
116

Sep 23: Antisocial markets

from FIRE v London [alt+shift+b] in finance

8th Oct 2023
For some reason shoplifting is in the news. There’s evidently an epidemic of it. Not just in the UK, but wider afield too – hence major brands pulling out of cities like San Francisco. From what I hear there is a general increase in antisocial behaviour, dating from the covid-19...
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Money laundering and AML compliance A brief overview of what money laundering is, what financial institutions do about it, and why.
10th Feb 2023
52

Money laundering and AML compliance

from Bits about Money [alt+shift+b] in finance

10th Feb 2023
A brief overview of what money laundering is, what financial institutions do about it, and why.
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Meet Trump’s memecoin dinner guests Trump's crypto-for-access dinner triggers broad ethics alarms, and 73% non-US attendance raises...
7th May 2025
51

Meet Trump’s memecoin dinner guests

from Citation Needed [alt+shift+b] in finance

7th May 2025
Trump's crypto-for-access dinner triggers broad ethics alarms, and 73% non-US attendance raises fresh concerns over foreign influence
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The Seven Samurai: How Big Tech Rescued the Market in 2023! I was planning to finish my last two data updates for 2024, but decided to take a break and look at...
9th Feb 2024
29

The Seven Samurai: How Big Tech Rescued the Market in 2023!

from Musings on Markets [alt+shift+b] in finance

9th Feb 2024
I was planning to finish my last two data updates for 2024, but decided to take a break and look at the seven stocks (Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla) which carried the market in 2023. While I will use the "Magnificent Seven" moniker attached by these...
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The Inevitable Drift Down from "Can't Lose" Owning Stocks to "Can't Win" Even if an AI program advises selling everything and walking away from the market for five years,...
3rd Nov 2025
1

The Inevitable Drift Down from "Can't Lose" Owning Stocks to "Can't Win"

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

3rd Nov 2025
Even if an AI program advises selling everything and walking away from the market for five years, how many of us would take this advice? Only those who experienced the heady euphoria of the late 1990s dot-com bubble in tech stocks know what the shift from "can't lose"...
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Issue 61 – Soft war by the enemy How will recent Supreme Court decisions affect the crypto world? Also, more absurdity from the...
5th Jul 2024
134

Issue 61 – Soft war by the enemy

from Citation Needed [alt+shift+b] in finance

5th Jul 2024
How will recent Supreme Court decisions affect the crypto world? Also, more absurdity from the crypto lobby, and some new regulatory actions.
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Trump-proofing Canada means ditching MasterCard and Visa We're all busy doing our best to boycott U.S. products. I can't buy Special K cereal anymore,...
14th Mar 2025
80

Trump-proofing Canada means ditching MasterCard and Visa

from Moneyness [alt+shift+b] in finance

14th Mar 2025
We're all busy doing our best to boycott U.S. products. I can't buy Special K cereal anymore, because it's made in the U.S. by Kellogg's. But I'm still buying Shreddies, which is made in Niagara Falls, Ontario. Even that's a grey area, since Shreddies is owned by Post, a big...
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You’re Always Selling to a Situation, Not an ICP One simple idea that falls out of the Heart of Innovation book — that you can use immediately — is...
19th Jun 2025
50

You’re Always Selling to a Situation, Not an ICP

from Commoncog [alt+shift+b] in finance

19th Jun 2025
One simple idea that falls out of the Heart of Innovation book — that you can use immediately — is this idea of selling into situations, not selling to ideal customer profiles. It’s what the pros do anyway.
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Power and Impunity Those acting with impunity are confident that their powers or god-like because they appear so in the...
2nd Feb 2026
1

Power and Impunity

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

2nd Feb 2026
Those acting with impunity are confident that their powers or god-like because they appear so in the human realm. But there are limits to everything in the human realm. One of the first things we learned about the Internet is that anything sent via email could readily become...
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Warren Buffett’s Thanksgiving Letter Warren Buffett's Thanksgiving Letter sheds more light on why he decided to retire.
11th Nov 2025
1

Warren Buffett’s Thanksgiving Letter

from The Rational Walk [alt+shift+b] in finance

11th Nov 2025
Warren Buffett's Thanksgiving Letter sheds more light on why he decided to retire.
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Tobi Lütke: AI Agents, Better Decisions, and the Future of Work Shopify founder and CEO Tobi Lütke joins Shane Parrish to discuss AI agents, better decision-making,...
10th Sep 2026
1

Tobi Lütke: AI Agents, Better Decisions, and the Future of Work

from Farnam Street [alt+shift+b] in finance

10th Sep 2026
Shopify founder and CEO Tobi Lütke joins Shane Parrish to discuss AI agents, better decision-making, and the future of work. He explains how he uses an AI council to examine his hardest decisions and why taste, judgment, and responsibility become more valuable as AI becomes more...
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The Bitcoin ETF is the spiritual reversal of Executive Order 6102 Back in 1935, they seized the gold. But now, digital gold is back.
11th Jan 2024
128

The Bitcoin ETF is the spiritual reversal of Executive Order 6102

from balajis.com [alt+shift+b] in finance

11th Jan 2024
Back in 1935, they seized the gold. But now, digital gold is back.
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Issue 81 – Crypto crime is legal Trump continues to dismantle crypto enforcement while expanding his personal crypto empire
8th Apr 2025
48

Issue 81 – Crypto crime is legal

from Citation Needed [alt+shift+b] in finance

8th Apr 2025
Trump continues to dismantle crypto enforcement while expanding his personal crypto empire
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Real Estate Newsletter Articles this Week: New Home Sales Decrease to 657,000 Annual Rate in January At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. New Home...
1st Mar 2025
37

Real Estate Newsletter Articles this Week: New Home Sales Decrease to 657,000 Annual Rate in January

from Calculated Risk [alt+shift+b] in finance

1st Mar 2025
At the Calculated Risk Real Estate Newsletter this week: Click on graph for larger image. New Home Sales Decrease to 657,000 Annual Rate in January Case-Shiller: National House Price Index Up 3.9% year-over-year in December Inflation Adjusted House Prices 1.0% Below 2022...
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Investment Advice Which Stands the Test of Time There is investment advice in the book of Jewish religious law (the Talmud). It advises that you...
5th May 2024
29

Investment Advice Which Stands the Test of Time

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

5th May 2024
There is investment advice in the book of Jewish religious law (the Talmud). It advises that you keep 1/3rd of your wealth in business, 1/3rd in land, and 1/3rd in gold. It's genius. Why? First, it's simple. Second, business, and, to a lesser extent, land, (but not gold, usually)...
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Make Every Day Count It was a 2012 evening, and I was driving home from the office. I was worried about finishing a big...
1st Nov 2023
169

Make Every Day Count

from Seeking Wisdom [alt+shift+b] in finance

1st Nov 2023
It was a 2012 evening, and I was driving home from the office. I was worried about finishing a big project at work on time. I’d made the journey from the office to my home so many times, my car almost seemed to know the way by itself. My hands were on the wheel, but…
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Modeling Life: Linear Algebra This is the 4th post in my series summarizing the key takeaways from reading the book Modeling Life....
2nd May 2024
140

Modeling Life: Linear Algebra

from Seeking Wisdom [alt+shift+b] in finance

2nd May 2024
This is the 4th post in my series summarizing the key takeaways from reading the book Modeling Life. I recommend reading my previous posts first to gain a solid understanding on how to model dynamic systems. This post focuses on how linear algebra is employed in modeling dynamic...
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July ’23: Markets up, Coutts down It’s been a dismally wet July here in London. About 50% more rainfall than normal (which, before ye...
2nd Aug 2023
86

July ’23: Markets up, Coutts down

from FIRE v London [alt+shift+b] in finance

2nd Aug 2023
It’s been a dismally wet July here in London. About 50% more rainfall than normal (which, before ye scoff, isn’t that much – London is a fairly dry city – drier than Rome and much drier than Sydney). It has been long trousers weather, for the first time in several years. But at...
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Too Fake to Tell US government stats aren't reliable. More importantly, neither are US government bonds.
5th Jun 2023
41

Too Fake to Tell

from balajis.com [alt+shift+b] in finance

5th Jun 2023
US government stats aren't reliable. More importantly, neither are US government bonds.
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Focus on the process, not the outcome Woorkeri Raman, a former Indian cricketer and former coach of the India women’s national cricket...
12th Aug 2024
149

Focus on the process, not the outcome

from Seeking Wisdom [alt+shift+b] in finance

12th Aug 2024
Woorkeri Raman, a former Indian cricketer and former coach of the India women’s national cricket team, has two non-negotiables. As an offspinner, you must never get cut, and you must never get driven through the covers. Even when Ravichandran Ashwin takes five wickets, Raman will...
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Lee Walker and the Dell Growth Plateau How Lee Walker overcame Dell's biggest growth plateau in 1986. A story about capital, imagination,...
16th Aug 2023
81

Lee Walker and the Dell Growth Plateau

from Commoncog [alt+shift+b] in finance

16th Aug 2023
How Lee Walker overcame Dell's biggest growth plateau in 1986. A story about capital, imagination, and creative deal-making.
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California Is Not A Democracy It's a one-party state. They hold elections, but the Party always wins.
10th Jun 2024
147

California Is Not A Democracy

from balajis.com [alt+shift+b] in finance

10th Jun 2024
It's a one-party state. They hold elections, but the Party always wins.
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July ’26: An IPO, and France It feels as if the World Cup was ages ago, already. Yet only a few weeks ago, I was gripped. And for...
9th Aug 2026
2

July ’26: An IPO, and France

from FIRE v London [alt+shift+b] in finance

9th Aug 2026
It feels as if the World Cup was ages ago, already. Yet only a few weeks ago, I was gripped. And for once I thought England had a world-class side…. but hey ho, football hasn’t come home for another four years. I had a road trip through France in July, which was lovely. I am…...
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THE SLOW, EXCRUCIATING, DISASTEROUS DUMBING DOWN OF AMERICA Austin is a more pleasant place to live than Dallas because people are smarter on average. This does...
24th Sep 2023
26

THE SLOW, EXCRUCIATING, DISASTEROUS DUMBING DOWN OF AMERICA

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

24th Sep 2023
Austin is a more pleasant place to live than Dallas because people are smarter on average. This does not mean there are not smart people in Dallas. There are. What it does mean is the typical Austinite is just a little sharper. This makes for more pleasant conversations. It’s...
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Fraud Investigation is Believing Your Lying Eyes The financial industry has paid tens of billions of dollars in tuition on fraud detection. Here are...
6th Feb 2026
1

Fraud Investigation is Believing Your Lying Eyes

from Bits about Money [alt+shift+b] in finance

6th Feb 2026
The financial industry has paid tens of billions of dollars in tuition on fraud detection. Here are some observations for investigators with badges, press cards, or GoPros.
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Sam Bankman-Fried: guilty on all charges Jurors spent less than five hours deliberating before returning the verdict.
3rd Nov 2023
59

Sam Bankman-Fried: guilty on all charges

from Citation Needed [alt+shift+b] in finance

3rd Nov 2023
Jurors spent less than five hours deliberating before returning the verdict.
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July ’25: New high watermark There wasn’t a huge amount to report from July. Politically/economically I fear the most important...
16th Aug 2025
40

July ’25: New high watermark

from FIRE v London [alt+shift+b] in finance

16th Aug 2025
There wasn’t a huge amount to report from July. Politically/economically I fear the most important event in the UK was the Labour government’s failure to enact its intended welfare reforms. This leaves the government a) unable to control spending b) unable to nudge the economy...
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Chesterton’s Fence: A Lesson in Second Order Thinking A core component of making great decisions is understanding the rationale behind previous decisions....
5th Sep 2022
99

Chesterton’s Fence: A Lesson in Second Order Thinking

from Farnam Street [alt+shift+b] in finance

5th Sep 2022
A core component of making great decisions is understanding the rationale behind previous decisions. If we don’t understand how we got “here,” we run the risk of making things much worse. *** When we seek to intervene in any system created by someone, it’s not enough to view...
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Data Update 9 for 2025: Dividends and Buybacks - Inertia and Me-tooism! In my ninth (and last) data post for 2025, I look at cash returned by businesses across the world,...
5th Mar 2025
60

Data Update 9 for 2025: Dividends and Buybacks - Inertia and Me-tooism!

from Musings on Markets [alt+shift+b] in finance

5th Mar 2025
In my ninth (and last) data post for 2025, I look at cash returned by businesses across the world, looking at both the magnitude and the form of that return. I start with a framework for thinking about how much cash a business can return to its owners, and then argue that, in the...
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It’s a treasure trove of health insights! Use Insulin wisely Life on Earth started simple. For nearly 2 billion years, tiny single-celled...
21st Oct 2024
132

It’s a treasure trove of health insights!

from Seeking Wisdom [alt+shift+b] in finance

21st Oct 2024
Use Insulin wisely Life on Earth started simple. For nearly 2 billion years, tiny single-celled organisms dominated. Then, a lucky accident changed everything. One cell swallowed another, and the swallowed cell became mitochondria, the powerhouse of complex cells. This chance...
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Question #3 for 2025: What will the unemployment rate be in December 2025? Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of...
1st Jan 2025
47

Question #3 for 2025: What will the unemployment rate be in December 2025?

from Calculated Risk [alt+shift+b] in finance

1st Jan 2025
Earlier I posted some questions on my blog for next year: Ten Economic Questions for 2025. Some of these questions concern real estate (inventory, house prices, housing starts, new home sales), and I posted thoughts on those in the newsletter (others like GDP and employment will...
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Announcing the Commoncog Case Library Public Beta We're testing a cognitive flexibility theory-driven learning library, designed to accelerate...
24th Aug 2022
92

Announcing the Commoncog Case Library Public Beta

from Commoncog [alt+shift+b] in finance

24th Aug 2022
We're testing a cognitive flexibility theory-driven learning library, designed to accelerate business expertise. Find out more.
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Trump says he has “no idea” who he just pardoned President Trump reacts to condemnations of his recent pardon of Binance founder Changpeng Zhao by...
3rd Nov 2025
9

Trump says he has “no idea” who he just pardoned

from Citation Needed [alt+shift+b] in finance

3rd Nov 2025
President Trump reacts to condemnations of his recent pardon of Binance founder Changpeng Zhao by claiming he doesn’t know who he is.
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Global Crypto Regulation: Who’s Hot and Who’s Not? Global crypto regulation is confusing. So I surveyed the information available and created a...
25th May 2022
49

Global Crypto Regulation: Who’s Hot and Who’s Not?

from balajis.com [alt+shift+b] in finance

25th May 2022
Global crypto regulation is confusing. So I surveyed the information available and created a heatmap.
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What Kills Cartels? Plus! Diff Jobs; Strategic Investments; Media Form Factors; Fees; Critical Minerals; Brand Names
2nd Feb 2026
0

What Kills Cartels?

from The Diff [alt+shift+b] in finance

2nd Feb 2026
Plus! Diff Jobs; Strategic Investments; Media Form Factors; Fees; Critical Minerals; Brand Names
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The Heart of Innovation: Why Most Startups Fail A theory of demand (and product market fit) that explains it all, and does NOT require ‘pain’ to do...
12th May 2025
70

The Heart of Innovation: Why Most Startups Fail

from Commoncog [alt+shift+b] in finance

12th May 2025
A theory of demand (and product market fit) that explains it all, and does NOT require ‘pain’ to do it.
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All It Takes Is All You Got Your assets are the government's collateral.
29th Mar 2024
145

All It Takes Is All You Got

from balajis.com [alt+shift+b] in finance

29th Mar 2024
Your assets are the government's collateral.
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Feb ’25: The top comes off What’s in the news? The Trump, is in the news. He gets more than enough coverage without me adding...
15th Mar 2025
61

Feb ’25: The top comes off

from FIRE v London [alt+shift+b] in finance

15th Mar 2025
What’s in the news? The Trump, is in the news. He gets more than enough coverage without me adding to it. From the point of view of what affects portfolios like mine, a few things happened What’s going on with me? My personal life was quite busy in February. I visited the UK city...
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Controlling the Narrative Is Not the Same As Controlling the World This is Essay #9 in the series Truth Be Told. The core dynamic of this era is the notion that...
a week ago
1

Controlling the Narrative Is Not the Same As Controlling the World

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

a week ago
This is Essay #9 in the series Truth Be Told. The core dynamic of this era is the notion that controlling the narrative controls the world, as persuading the populace to believe something is true controls their convictions which then control their behaviors. Centralized...
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Requiem for a bank loan A brief retrospective on an attractive product First Republic used to offer, and a wider discourse...
16th Jun 2023
64

Requiem for a bank loan

from Bits about Money [alt+shift+b] in finance

16th Jun 2023
A brief retrospective on an attractive product First Republic used to offer, and a wider discourse on the banking crisis.
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A Quarter Century of Investing Lessons learned from twenty-five years of enterprising investing
6th Jan 2025
1

A Quarter Century of Investing

from The Rational Walk [alt+shift+b] in finance

6th Jan 2025
Lessons learned from twenty-five years of enterprising investing
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Warren Buffett’s Final Brushstrokes Warren Buffett is retiring as CEO of Berkshire Hathaway but he may still make a few final...
5th May 2025
1

Warren Buffett’s Final Brushstrokes

from The Rational Walk [alt+shift+b] in finance

5th May 2025
Warren Buffett is retiring as CEO of Berkshire Hathaway but he may still make a few final brushstrokes on his canvas as Chairman.
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It’s Time to Build… Assets? One of the main reasons for the decline in goods and services in the United States, and to a lesser...
28th Mar 2026
1

It’s Time to Build… Assets?

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

28th Mar 2026
One of the main reasons for the decline in goods and services in the United States, and to a lesser extent, the world, is the financialization of our economies by excessive money printing. Let's break that down into simpler language. The quality of the things and services you buy...
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AI Agents vs. SaaS: Is This the Beginning of a Structural Reset or Another Tech Overreaction? Public software companies just had one of their worst weeks in years—and the market reaction was...
9th Feb 2026
1

AI Agents vs. SaaS: Is This the Beginning of a Structural Reset or Another Tech Overreaction?

from Mazdak [alt+shift+b] in finance

9th Feb 2026
Public software companies just had one of their worst weeks in years—and the market reaction was swift, brutal, and emotional.
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Should Congress be Allowed to Trade? Plus! Norms Trading; Point-of-Sale; Trade Trench Warfare; AI and Ads; Bluffing Your Way to Better...
1st May 2025
19

Should Congress be Allowed to Trade?

from The Diff [alt+shift+b] in finance

1st May 2025
Plus! Norms Trading; Point-of-Sale; Trade Trench Warfare; AI and Ads; Bluffing Your Way to Better Management
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Why We Shouldn’t “Buy the Dip” “Buying the dip” is buy stocks whenever there is a short-term decline in stock prices, under the...
29th May 2023
22

Why We Shouldn’t “Buy the Dip”

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

29th May 2023
“Buying the dip” is buy stocks whenever there is a short-term decline in stock prices, under the assumption that asset prices will quickly revert, enabling you to make money. This article explains why a government-driven culture of “buying the dip” can be damaging to you and...
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Who Decides What AI Can Do? Plus! Diff Jobs; Fun Trades; Insiders; M&A; Two-Tier Rounds; Switching Costs
2nd Mar 2026
1

Who Decides What AI Can Do?

from The Diff [alt+shift+b] in finance

2nd Mar 2026
Plus! Diff Jobs; Fun Trades; Insiders; M&A; Two-Tier Rounds; Switching Costs
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Notes on a non-profit indicted for bank fraud Well-regarded non-profit runs domestic intelligence agency; distributes intelligence product;...
1st May 2026
1

Notes on a non-profit indicted for bank fraud

from Bits about Money [alt+shift+b] in finance

1st May 2026
Well-regarded non-profit runs domestic intelligence agency; distributes intelligence product; achieves adoption in financial infrastructure; recruits agents and allies; intervenes against U.S. political fundraising.
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Mental Strength in Judo; Mental Strength in Life Results of a four month accelerated expertise experiment in Judo. Or: "I expected to learn about...
3rd May 2023
178

Mental Strength in Judo; Mental Strength in Life

from Commoncog [alt+shift+b] in finance

3rd May 2023
Results of a four month accelerated expertise experiment in Judo. Or: "I expected to learn about deliberate practice but instead learnt a ton about my mental shortcomings."
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Issue 65 – World Liberty Fiasco Even the most pro-Trump crypto faithful think Trump’s new crypto scheme is a terrible idea.
6th Sep 2024
111

Issue 65 – World Liberty Fiasco

from Citation Needed [alt+shift+b] in finance

6th Sep 2024
Even the most pro-Trump crypto faithful think Trump’s new crypto scheme is a terrible idea.
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May ’26: Angelic timing May was an enjoyable month. I kept reasonably busy, as well as doing a bit of travel around the UK....
17th Jun 2026
1

May ’26: Angelic timing

from FIRE v London [alt+shift+b] in finance

17th Jun 2026
May was an enjoyable month. I kept reasonably busy, as well as doing a bit of travel around the UK. I visited King Charles’ Poundbury for the first time, as well as the south coast and the Cotswolds for a weekend. Meanwhile, the news has been dominated by Trump’s Iran war, and in...
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Bond Villain When Powell devalued bonds, he destroyed the economy.
4th Jul 2023
46

Bond Villain

from balajis.com [alt+shift+b] in finance

4th Jul 2023
When Powell devalued bonds, he destroyed the economy.
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August ’26: Summer calm August was another fabulous summer month in the UK. The lack of rain became a nasty drought, with...
21st Sep 2026
1

August ’26: Summer calm

from FIRE v London [alt+shift+b] in finance

21st Sep 2026
August was another fabulous summer month in the UK. The lack of rain became a nasty drought, with hosepipe bans across much of the country – including my Coastal Folly’s Wessex Water supplier (for the first time in over 50 years). But lawns aside it made for an enjoyable month. I...
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Meta's Fake AI Profiles, the TikTok Ban, Telegram Updates, and Microsoft's $80 Billion AI Investment... Meta's AI Experiment: What Went Wrong?
4th Jan 2025
77

Meta's Fake AI Profiles, the TikTok Ban, Telegram Updates, and Microsoft's $80 Billion AI Investment This Year...

from Mazdak [alt+shift+b] in finance

4th Jan 2025
Meta's AI Experiment: What Went Wrong?
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How should money laundering laws apply to DeFi? Everyone agrees that money laundering laws apply to DeFi. The question is: how to apply them? DeFi,...
14th Sep 2024
25

How should money laundering laws apply to DeFi?

from Moneyness [alt+shift+b] in finance

14th Sep 2024
Everyone agrees that money laundering laws apply to DeFi. The question is: how to apply them? DeFi, or decentralized finance, is an emerging segment of the broader financial industry that delivers traditional financial services, say like trading or lending, using a novel type of...
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Gil Duran Faked A Quote For the New Republic Then they stealth edited the piece. They knew they'd committed libel.
1st May 2024
147

Gil Duran Faked A Quote For the New Republic

from balajis.com [alt+shift+b] in finance

1st May 2024
Then they stealth edited the piece. They knew they'd committed libel.
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Routers, Apps, AGI Plus! Diff Jobs; Peripheral Bets; Fragmentation and Industry Maturity; Deepfakes as Pull Quotes;...
20th Oct 2025
1

Routers, Apps, AGI

from The Diff [alt+shift+b] in finance

20th Oct 2025
Plus! Diff Jobs; Peripheral Bets; Fragmentation and Industry Maturity; Deepfakes as Pull Quotes; Benchmarks; Platforms
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Oct ’23: Terror erupts from Gaza It’s the Middle East again. I don’t have any perspective on it, sadly, other than that I hear of...
5th Nov 2023
110

Oct ’23: Terror erupts from Gaza

from FIRE v London [alt+shift+b] in finance

5th Nov 2023
It’s the Middle East again. I don’t have any perspective on it, sadly, other than that I hear of some nasty low level youth violence/intimidation/vandalism in North London in Jewish neighbourhoods by pro-Palestinian, dare-I-say-it pro-Hamas hotheads. But in most of London life...
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A Quarter Century of Investing Lessons learned from twenty-five years of enterprising investing
6th Jan 2025
1

A Quarter Century of Investing

from The Rational Walk [alt+shift+b] in finance

6th Jan 2025
Lessons learned from twenty-five years of enterprising investing
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Warren Buffett’s Final Brushstrokes Warren Buffett is retiring as CEO of Berkshire Hathaway but he may still make a few final...
5th May 2025
1

Warren Buffett’s Final Brushstrokes

from The Rational Walk [alt+shift+b] in finance

5th May 2025
Warren Buffett is retiring as CEO of Berkshire Hathaway but he may still make a few final brushstrokes on his canvas as Chairman.
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Issue 90 – Crime szn bro The Trump administration cracks down on software to limit surveillance of crypto transactions, while...
13th Aug 2025
40

Issue 90 – Crime szn bro

from Citation Needed [alt+shift+b] in finance

13th Aug 2025
The Trump administration cracks down on software to limit surveillance of crypto transactions, while celebrating a “deregulatory blitz” tailored for its billionaire benefactors
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25 Years of Higher Interest Rates Ahead? Interest rates are linked to inflation, but they're also linked to risk. As a result of...
2nd May 2025
36

25 Years of Higher Interest Rates Ahead?

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

2nd May 2025
Interest rates are linked to inflation, but they're also linked to risk. As a result of recency bias, where we assume the recent past is a permanent state of affairs, many believe near-zero interest rates are "normal." They aren't. As the chart of 10-year US Treasury...
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The Corporate Life Cycle: Managing, Valuation and Investing Implications! As I reveal my ignorance about TikTok trends, social media celebrities and Gen Z slang, my children...
20th Aug 2024
27

The Corporate Life Cycle: Managing, Valuation and Investing Implications!

from Musings on Markets [alt+shift+b] in finance

20th Aug 2024
As I reveal my ignorance about TikTok trends, social media celebrities and Gen Z slang, my children are quick to point out my age, and I accept that reality, for the most part. I understand that I am too old to exercise without stretching first or eat a heaping plate of cheese...
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Buffett Completes Succession Plan Warren Buffett has completed Berkshire's succession plan as he steps down as Chairman.
18th Sep 2026
-3

Buffett Completes Succession Plan

from The Rational Walk [alt+shift+b] in finance

18th Sep 2026
Warren Buffett has completed Berkshire's succession plan as he steps down as Chairman.
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Feb ’24: Envyidia I’ve had quite a lot of culture to enjoy in February. Aside from some travel for the Six Nations...
3rd Mar 2024
142

Feb ’24: Envyidia

from FIRE v London [alt+shift+b] in finance

3rd Mar 2024
I’ve had quite a lot of culture to enjoy in February. Aside from some travel for the Six Nations rugby, I’ve been to two shows – one in London’s Royal Opera House and one on the south coast. Both events were either full or practically full. Covid feels fully behind us now. But...
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Pretense, Staging, Expediency: the "Solutions" That Implode the Whole Shebang Slapdash quick fixes and policies share one characteristic: they eventually implode the whole...
1st Jan 2026
2

Pretense, Staging, Expediency: the "Solutions" That Implode the Whole Shebang

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

1st Jan 2026
Slapdash quick fixes and policies share one characteristic: they eventually implode the whole shebang. We all know how this works: the business is failing and the divorce papers have been filed, but the optics are ugly, so the couple waltzes in, all smiles and lovey-dovey,...
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Stay the course I spend a couple of weeks every February keeping up with my investments, timing it to coincide with...
5th Mar 2024
154

Stay the course

from Seeking Wisdom [alt+shift+b] in finance

5th Mar 2024
I spend a couple of weeks every February keeping up with my investments, timing it to coincide with the release of Buffett’s annual letter to shareholders. I found something interesting while performing this ritual this time. I came across Aswath Damodaran’s website, where he has...
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Can Tactical Decision Games Accelerate ... Maths? What if we could take Tactical Decision Games — a kind of accelerated expertise training method —...
6 days ago
1

Can Tactical Decision Games Accelerate ... Maths?

from Commoncog [alt+shift+b] in finance

6 days ago
What if we could take Tactical Decision Games — a kind of accelerated expertise training method — and apply it to subjects like maths?
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The Scaling and Profitability Trade off: Venture Capital's Weakest Link! It is undeniable technology companies have found their most hospitable setting in the United States...
2nd Sep 2026
1

The Scaling and Profitability Trade off: Venture Capital's Weakest Link!

from Musings on Markets [alt+shift+b] in finance

2nd Sep 2026
It is undeniable technology companies have found their most hospitable setting in the United States and while there are many reasons for the US dominance of technology, easier access to capital for young businesses has been a key ingredient. Venture capital in the US, in its...
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OpenAI Launches GPT-5 On August 7, 2025, OpenAI officially released GPT-5, its latest flagship model, to the world.
7th Aug 2025
49

OpenAI Launches GPT-5

from Mazdak [alt+shift+b] in finance

7th Aug 2025
On August 7, 2025, OpenAI officially released GPT-5, its latest flagship model, to the world.
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Putting the Jobs to be Done Interview to Practice Things we wished someone told us, before we put the JTBD interview to practice.
9th Jul 2025
55

Putting the Jobs to be Done Interview to Practice

from Commoncog [alt+shift+b] in finance

9th Jul 2025
Things we wished someone told us, before we put the JTBD interview to practice.
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Why Write Why write an essay when you can type a few words and have AI generate one for you? Why write an...
9th Mar 2023
121

Why Write

from Farnam Street [alt+shift+b] in finance

9th Mar 2023
Why write an essay when you can type a few words and have AI generate one for you? Why write an email when AI can auto-respond for you with all the typical pleasantries and talking-points? While AI doing these things for you is likely to happen, it’s not necessarily a good thing....
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Feb ’23: taking profits February was cold, but mercifully dry. The days are becoming a welcome bit longer. London is filling...
14th Mar 2023
70

Feb ’23: taking profits

from FIRE v London [alt+shift+b] in finance

14th Mar 2023
February was cold, but mercifully dry. The days are becoming a welcome bit longer. London is filling up again, post covid, though Mondays and Fridays remain subdued to put it mildly. Market movements in February In the markets, February started strongly, but then something...
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Sep ’25: Gains continue, and I trim September was a busy month. In the middle of it we saw a disruptive tube strike. I don’t use the...
11th Oct 2025
35

Sep ’25: Gains continue, and I trim

from FIRE v London [alt+shift+b] in finance

11th Oct 2025
September was a busy month. In the middle of it we saw a disruptive tube strike. I don’t use the tube that much so didn’t expect it to affect me much but two important meetings were postponed, one of which still hasn’t happened, so that event has stayed in my memory. Thank...
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Understanding Anthropic Plus! Pulled IPOs; Non-Fungibility; The News Business; Opt-Outs; Writing
a week ago
1

Understanding Anthropic

from The Diff [alt+shift+b] in finance

a week ago
Plus! Pulled IPOs; Non-Fungibility; The News Business; Opt-Outs; Writing
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Mar ’26: Iran clobbers markets In March the rain stopped. We started March with North London already having seen 2x its usual...
12th Apr 2026
1

Mar ’26: Iran clobbers markets

from FIRE v London [alt+shift+b] in finance

12th Apr 2026
In March the rain stopped. We started March with North London already having seen 2x its usual rainfall for this point in the year. And thankfully in the middle of March, it stopped. As I write this I have actually needed to start watering the garden, something that felt a very...
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Introducing Xmrit Some free software to create, modify, experiment with and share XmR charts. Unlock the ability to...
10th Apr 2024
144

Introducing Xmrit

from Commoncog [alt+shift+b] in finance

10th Apr 2024
Some free software to create, modify, experiment with and share XmR charts. Unlock the ability to become more data driven today.
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Why sanctions didn’t stop Russia's Garantex from using stablecoins Stablecoins, a new type of financial institution, are unique in two ways. First, they use...
2nd Apr 2025
73

Why sanctions didn’t stop Russia's Garantex from using stablecoins

from Moneyness [alt+shift+b] in finance

2nd Apr 2025
Stablecoins, a new type of financial institution, are unique in two ways. First, they use decentralized databases like Ethereum and Tron to run their platforms. Secondly, and more important for the purposes of this article, they grant access to almost anyone, no questions...
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August ’24: From triumph to tragedy Looking back on the month, it was more eventful than Augusts are reputed to be. In the UK we are...
7th Sep 2024
127

August ’24: From triumph to tragedy

from FIRE v London [alt+shift+b] in finance

7th Sep 2024
Looking back on the month, it was more eventful than Augusts are reputed to be. In the UK we are getting used to our new government. And, in some cases, violently testing its boundaries with some summer rioting. We’ve seen some dreadful street behaviour, frequently of a racist /...
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15 mental Abilities & Traits Which Make You Successful But Are Not on an IQ Test 1. Empathy 2. Dexterity 3. Persuasion 4. Musicality 5. Confidence 6. Ambition 7. Grit 8....
2nd Jun 2024
26

15 mental Abilities & Traits Which Make You Successful But Are Not on an IQ Test

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

2nd Jun 2024
1. Empathy 2. Dexterity 3. Persuasion 4. Musicality 5. Confidence 6. Ambition 7. Grit 8. Creativity 9. Flexibility 10. Energy 11. Individualism 12. Willpower 13. Stoicisim 14. Objectivity 15. Allure
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The Fiat Crisis This is not a financial crisis. It’s a fiat crisis.
2nd May 2023
40

The Fiat Crisis

from balajis.com [alt+shift+b] in finance

2nd May 2023
This is not a financial crisis. It’s a fiat crisis.
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Data Update 4 for 2024: Danger and Opportunity - Bringing Risk into the Equation! In my last data updates for this year, I looked first at how equity markets rebounded in 2023,...
28th Jan 2024
27

Data Update 4 for 2024: Danger and Opportunity - Bringing Risk into the Equation!

from Musings on Markets [alt+shift+b] in finance

28th Jan 2024
In my last data updates for this year, I looked first at how equity markets rebounded in 2023, driven by a stronger-than-expected economy and inflation coming down, and then at how interest rates mirrored this rebound. In this post, I look at risk, a central theme in finance and...
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Dell's Capital Expertise We trace Michael Dell's skill at the art of capital in business, and use it to examine how skill at...
1st Jul 2023
128

Dell's Capital Expertise

from Commoncog [alt+shift+b] in finance

1st Jul 2023
We trace Michael Dell's skill at the art of capital in business, and use it to examine how skill at capital allows you to make moves that aren't available to a novice business operator.
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Claude vs. ChatGPT: A Comprehensive Comparison In today’s rapidly evolving AI landscape, two names stand out in the realm of conversational...
4th Mar 2025
59

Claude vs. ChatGPT: A Comprehensive Comparison

from Mazdak [alt+shift+b] in finance

4th Mar 2025
In today’s rapidly evolving AI landscape, two names stand out in the realm of conversational assistants—Anthropic’s Claude and OpenAI’s ChatGPT. Although both are built on large language models, they diverge sharply in design philosophy, technical implementation, safety...
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Your finances are being snooped on. Here's how We all have a pretty good idea that our finances are being snooped on, but most of us aren't quite...
12th Jul 2024
28

Your finances are being snooped on. Here's how

from Moneyness [alt+shift+b] in finance

12th Jul 2024
We all have a pretty good idea that our finances are being snooped on, but most of us aren't quite able to articulate how. We know that we're being snooped on by two groups, corporations and the government. This post will focus on how the government surveils our transactions,...
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The Best Age to Start Taking Social Security: It's Not What You Think When you reach full retirement age (FRA), you can start taking Social Security benefits. But you may...
18th Sep 2023
42

The Best Age to Start Taking Social Security: It's Not What You Think

from Mazdak [alt+shift+b] in finance

18th Sep 2023
When you reach full retirement age (FRA), you can start taking Social Security benefits. But you may want to consider taking them sooner, even if it means a smaller monthly check. Here's why: Your benefits will grow by 8% per year for each year you delay taking them, up to age...
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Feb ’26: Before Iran So, for the avoidance of doubt, the end of the month is the last trading day of the month. Which for...
16th Mar 2026
1

Feb ’26: Before Iran

from FIRE v London [alt+shift+b] in finance

16th Mar 2026
So, for the avoidance of doubt, the end of the month is the last trading day of the month. Which for February, meant Friday February 27th. The fact that the Israelis and the Americans invaded Iran on February 28th is going to impact March, not February. Which is just as well...
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Bits about Money yearly recap and plans What we covered in 2024, what are plans are in 2025, and a solicitation for supporting memberships.
15th Jan 2025
91

Bits about Money yearly recap and plans

from Bits about Money [alt+shift+b] in finance

15th Jan 2025
What we covered in 2024, what are plans are in 2025, and a solicitation for supporting memberships.
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A review of Number Go Up, on crypto shenanigans A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether...
29th Sep 2023
54

A review of Number Go Up, on crypto shenanigans

from Bits about Money [alt+shift+b] in finance

29th Sep 2023
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether specifically.
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Open Banking and payments competition Why the banks really hate fintechs that allow businesses to learn your account number easily.
13th Aug 2025
38

Open Banking and payments competition

from Bits about Money [alt+shift+b] in finance

13th Aug 2025
Why the banks really hate fintechs that allow businesses to learn your account number easily.
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How to Handle Disruptive Change As a business, how do you deal with disruption — technological or otherwise? Some patterns from a...
16th Sep 2026
-2

How to Handle Disruptive Change

from Commoncog [alt+shift+b] in finance

16th Sep 2026
As a business, how do you deal with disruption — technological or otherwise? Some patterns from a collection of case studies.
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Primary Sources Consulting primary sources represents table stakes for intelligent investors and responsible...
11th Feb 2025
1

Primary Sources

from The Rational Walk [alt+shift+b] in finance

11th Feb 2025
Consulting primary sources represents table stakes for intelligent investors and responsible citizens.
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Why did Stu Woo of the Wall Street Journal Follow Me to Singapore? Thirty five million people change countries every year. I'm one of them, and so is Stu Woo.
28th Jul 2026
1

Why did Stu Woo of the Wall Street Journal Follow Me to Singapore?

from balajis.com [alt+shift+b] in finance

28th Jul 2026
Thirty five million people change countries every year. I'm one of them, and so is Stu Woo.
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Reflections on the Software Dark Factory Q&A Some thoughts from watching a demo of a Software Dark Factory.
3rd Jun 2026
1

Reflections on the Software Dark Factory Q&A

from Commoncog [alt+shift+b] in finance

3rd Jun 2026
Some thoughts from watching a demo of a Software Dark Factory.
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Chinese Labor Isn't Just Cheaper; It’s Better. We Need to Fix That. A famous newspaper asked me to write an opinion article. But every time I submitted a draft, they'd...
25th Dec 2025
1

Chinese Labor Isn't Just Cheaper; It’s Better. We Need to Fix That.

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

25th Dec 2025
A famous newspaper asked me to write an opinion article. But every time I submitted a draft, they'd edit it, changing the message of the piece, even though the article was meant to be my opinion. Most people would have consented to the edits to have the honor of being in the...
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OpenAI Launches GPT‑4.1: What You Need to Know About the New Family of AI Models OpenAI has officially released the GPT‑4.1 family — and it’s more than just a minor upgrade.
14th Apr 2025
65

OpenAI Launches GPT‑4.1: What You Need to Know About the New Family of AI Models

from Mazdak [alt+shift+b] in finance

14th Apr 2025
OpenAI has officially released the GPT‑4.1 family — and it’s more than just a minor upgrade.
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Anatomy of a credit card rewards program Credit card rewards are mostly funded out of interchange, a fee paid by businesses to accept cards.
29th Mar 2024
113

Anatomy of a credit card rewards program

from Bits about Money [alt+shift+b] in finance

29th Mar 2024
Credit card rewards are mostly funded out of interchange, a fee paid by businesses to accept cards.
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How to Become Data Driven The answer, like most things from Statistical Process Control, is more surprising and more obvious...
6th Feb 2023
106

How to Become Data Driven

from Commoncog [alt+shift+b] in finance

6th Feb 2023
The answer, like most things from Statistical Process Control, is more surprising and more obvious than you might think.
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Danny Meyer’s Business Expertise Let's break down Danny Meyer's business expertise as an exercise in biography reading.
7th Aug 2024
120

Danny Meyer’s Business Expertise

from Commoncog [alt+shift+b] in finance

7th Aug 2024
Let's break down Danny Meyer's business expertise as an exercise in biography reading.
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August ’25: Warm memories While the global soap opera of the Gaza crisis, Trump/Putin PR, Ukraine misery etc continued, I have...
11th Sep 2025
48

August ’25: Warm memories

from FIRE v London [alt+shift+b] in finance

11th Sep 2025
While the global soap opera of the Gaza crisis, Trump/Putin PR, Ukraine misery etc continued, I have created some warm memories in August. I spent a bit of time in the New Forest, at both ends, and the middle. Which included a trip to Mudeford, site of the UK’s most expensive...
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✈️ A FLIGHT THAT ALMOST ENDED VERY DIFFERENTLY October is here, the markets are coming off a pretty choppy September, and there’s a lot happening...
1st Oct 2026
2

✈️ A FLIGHT THAT ALMOST ENDED VERY DIFFERENTLY

from Mazdak [alt+shift+b] in finance

1st Oct 2026
October is here, the markets are coming off a pretty choppy September, and there’s a lot happening beneath the surface.
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The Trial: How I lost $1 million dollars and 7 years in a lawsuit over Brain Flakes I thought I was good. Until I met Sol. Solomon Rosengarten is a lawyer from Brooklyn. He has an AOL...
25th Nov 2025
2

The Trial: How I lost $1 million dollars and 7 years in a lawsuit over Brain Flakes

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

25th Nov 2025
I thought I was good. Until I met Sol. Solomon Rosengarten is a lawyer from Brooklyn. He has an AOL email address. He is not great with the mute button on his phone. He sometimes comes across as incompetent. But, he is the best damned lawyer I have ever known. Sol is a killer....
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Working title (insurance) Title insurance is grossly overpriced relative to actual risks involved. Why is that?
30th Jun 2024
147

Working title (insurance)

from Bits about Money [alt+shift+b] in finance

30th Jun 2024
Title insurance is grossly overpriced relative to actual risks involved. Why is that?
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Greg Abel’s Unique Challenge Greg Abel takes over as Chief Executive Officer of Berkshire Hathaway on January 1, 2026, a job that...
31st Dec 2025
1

Greg Abel’s Unique Challenge

from The Rational Walk [alt+shift+b] in finance

31st Dec 2025
Greg Abel takes over as Chief Executive Officer of Berkshire Hathaway on January 1, 2026, a job that will involve at least three major challenges.
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Is This a Moat: Mailchimp and PayPal’s Algorithmic Advantage Two case studies of real world competitive advantage, followed by a question: was this a moat or...
12th Dec 2022
104

Is This a Moat: Mailchimp and PayPal’s Algorithmic Advantage

from Commoncog [alt+shift+b] in finance

12th Dec 2022
Two case studies of real world competitive advantage, followed by a question: was this a moat or not?
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Anatomy of a Market Crisis: Tariffs, Markets and the Economy! I was boarding a plane for a trip to Latin America late in the evening last Wednesday (April 2), and...
7th Apr 2025
54

Anatomy of a Market Crisis: Tariffs, Markets and the Economy!

from Musings on Markets [alt+shift+b] in finance

7th Apr 2025
I was boarding a plane for a trip to Latin America late in the evening last Wednesday (April 2), and as is my practice, I was checking the score on the Yankee game, when I read the tariff news announcement. Coming after a few days where the market seemed to have found its...
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For the fun of it: An Open House for my Spring 2025 Classes I am a teacher at heart, and every year, for more than two decades, I have invited people to join me...
11th Dec 2024
24

For the fun of it: An Open House for my Spring 2025 Classes

from Musings on Markets [alt+shift+b] in finance

11th Dec 2024
I am a teacher at heart, and every year, for more than two decades, I have invited people to join me in the classes that I teach at the Stern School of Business at New York University. Since I teach these classes only in the spring, and the first sessions for each of the classes...
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Crypto Twitter Found SBF's Fraud The establishment did nothing until the internet revealed everything.
6th Nov 2023
59

Crypto Twitter Found SBF's Fraud

from balajis.com [alt+shift+b] in finance

6th Nov 2023
The establishment did nothing until the internet revealed everything.
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What I’ve Been Reading Thoughts on the books I read in the second quarter of 2025
11th Jul 2025
1

What I’ve Been Reading

from The Rational Walk [alt+shift+b] in finance

11th Jul 2025
Thoughts on the books I read in the second quarter of 2025
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Issue 76 – Tripartisan legislation Crypto exchanges face legal troubles, and Trump’s crypto empire grows as regulations are slashed and...
6th Feb 2025
53

Issue 76 – Tripartisan legislation

from Citation Needed [alt+shift+b] in finance

6th Feb 2025
Crypto exchanges face legal troubles, and Trump’s crypto empire grows as regulations are slashed and enforcement is sidelined.
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Why We're Helpless When Things Break Down Only then do we realize that by optimizing profit and efficiency, we've also optimized systemic...
1st May 2026
1

Why We're Helpless When Things Break Down

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

1st May 2026
Only then do we realize that by optimizing profit and efficiency, we've also optimized systemic failure. In my essay AI, Money, Human Nature and the Problem with Problems, I refer to boundary conditions but didn't offer a thorough explanation of the role this concept plays...
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What Expenses Can You Write Off Against Your Business Income? Taxes are an inevitable part of running a business, but that doesn't mean you have to pay more than...
6th Feb 2024
122

What Expenses Can You Write Off Against Your Business Income?

from Mazdak [alt+shift+b] in finance

6th Feb 2024
Taxes are an inevitable part of running a business, but that doesn't mean you have to pay more than your fair share. Fortunately, the law allows you to deduct certain expenses from your business income, lowering your taxable amount and saving you money. But navigating the world...
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Jon McNeill: How Elon Musk Makes Decisions Jon McNeill is the former President of Tesla and the co-founder and CEO of DVx Ventures. Elon Musk...
a week ago
1

Jon McNeill: How Elon Musk Makes Decisions

from Farnam Street [alt+shift+b] in finance

a week ago
Jon McNeill is the former President of Tesla and the co-founder and CEO of DVx Ventures. Elon Musk believes speed creates a competitive advantage, whether it’s speed of decision, speed of cash, or speed of response. But what does that look like day to day, and how do you build a...
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Google: Monopolized? Is Google too big? For years, the tech giant has dominated the search market, facing little...
1st Dec 2024
65

Google: Monopolized?

from Mazdak [alt+shift+b] in finance

1st Dec 2024
Is Google too big? For years, the tech giant has dominated the search market, facing little competition.
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We can have a different web Many yearn for the “good old days” of the web. We could have those good old days back — or something...
1st May 2024
135

We can have a different web

from Citation Needed [alt+shift+b] in finance

1st May 2024
Many yearn for the “good old days” of the web. We could have those good old days back — or something even better — and if anything, it would be easier now than it ever was.
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Issue 50 – Bitcoin busts Governments seize huge quantities of bitcoin, and a few people seem to be yearning for the days of...
2nd Feb 2024
131

Issue 50 – Bitcoin busts

from Citation Needed [alt+shift+b] in finance

2nd Feb 2024
Governments seize huge quantities of bitcoin, and a few people seem to be yearning for the days of peak crypto mania.
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You Aren't Learning If You Don't Close the Loops Every experimentation and iteration loop looks the same, but the vast majority of folk in business...
2nd Nov 2022
112

You Aren't Learning If You Don't Close the Loops

from Commoncog [alt+shift+b] in finance

2nd Nov 2022
Every experimentation and iteration loop looks the same, but the vast majority of folk in business don't seem to have the discipline to execute till the end. Why this is, and why it's hard.
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Apple’s 2025 Product Unveiling: What’s New and What Actually Matters Apple’s latest keynote delivered a sweeping set of updates across AirPods, iPhones, and the Apple...
9th Sep 2025
59

Apple’s 2025 Product Unveiling: What’s New and What Actually Matters

from Mazdak [alt+shift+b] in finance

9th Sep 2025
Apple’s latest keynote delivered a sweeping set of updates across AirPods, iPhones, and the Apple Watch lineup.
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The infrastructure behind ATMs ATMs are connected to banks by networks which operate little-understood payment rails.
2nd Jan 2023
47

The infrastructure behind ATMs

from Bits about Money [alt+shift+b] in finance

2nd Jan 2023
ATMs are connected to banks by networks which operate little-understood payment rails.
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Evaluating Information: Find the Signal in the Noise We are drowning in information. Most of that information is irrelevant. If only we could sort what...
3rd Aug 2022
78

Evaluating Information: Find the Signal in the Noise

from Farnam Street [alt+shift+b] in finance

3rd Aug 2022
We are drowning in information. Most of that information is irrelevant. If only we could sort what matters from what doesn’t. The good news is that you can train your brain to evaluate the quality of information. Not only can you quickly determine if someone knows what they are...
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The DECIDE Algorithm — A Simple Step-by-Step Method for Converting Idle Time into Productive Action DECIDE D - Determine the Bottleneck E - Engage with the subject matter C - Clear distractions I -...
16th Mar 2025
52

The DECIDE Algorithm — A Simple Step-by-Step Method for Converting Idle Time into Productive Action

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

16th Mar 2025
DECIDE D - Determine the Bottleneck E - Engage with the subject matter C - Clear distractions I - Implement mental models D - Decide how to proceed E - Execute next steps When you’re traveling or waiting for something to happen, instead of listening to a podcast or scrolling on...
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⚖️ Copyright Law and Generative AI Generative AI is revolutionizing the way we create, but it's also raising complex legal questions...
1st Dec 2023
101

⚖️ Copyright Law and Generative AI

from Mazdak [alt+shift+b] in finance

1st Dec 2023
Generative AI is revolutionizing the way we create, but it's also raising complex legal questions about copyright law. 🤯 What's the Issue? 🤔 Copyright law protects original works created by humans. But what about AI-generated content? Is it protected by copyright? 🤔
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Sovereign Ratings, Default Risk and Markets: The Moody's Downgrade Aftermath! I was on a family vacation in August 2011 when I received an email from a journalist asking me what...
2nd Jun 2025
60

Sovereign Ratings, Default Risk and Markets: The Moody's Downgrade Aftermath!

from Musings on Markets [alt+shift+b] in finance

2nd Jun 2025
I was on a family vacation in August 2011 when I received an email from a journalist asking me what I thought about the S&P ratings downgrade for the US. Since I stay blissfully unaware of most news stories and things related to markets when I am on the beach, I had to look up...
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Apr ’26: A record month, house purchase underway It’s been a beautiful month. I’ve been about a bit, taking in Lincoln, the New Forest, and Oxford as...
4th May 2026
2

Apr ’26: A record month, house purchase underway

from FIRE v London [alt+shift+b] in finance

4th May 2026
It’s been a beautiful month. I’ve been about a bit, taking in Lincoln, the New Forest, and Oxford as well as enjoying London town itself. The Iran conflict rumbles on, with the USA and Israel having effectively finished the military engagement. Markets have had a very strong...
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Aug ’23: … A belated write-up of the month of August. Thinking back a month, two stories pop out for me. One...
18th Sep 2023
86

Aug ’23: …

from FIRE v London [alt+shift+b] in finance

18th Sep 2023
A belated write-up of the month of August. Thinking back a month, two stories pop out for me. One was the death of Russian mutineer Yevgeny Prigozhin – a larger-than-life modern day warlord, responsible for the ‘little green men’ at the start of the Russian/Ukraine war in 2014,...
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Credit cards as a legacy system Credit cards have been in use for almost 75 years. Some long-ago decisions still cause consequences...
2nd Dec 2022
38

Credit cards as a legacy system

from Bits about Money [alt+shift+b] in finance

2nd Dec 2022
Credit cards have been in use for almost 75 years. Some long-ago decisions still cause consequences in the present day. But change is possible.
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[Outliers] Charlie Munger’s Interview with Todd Combs I’m excited to share this previously unreleased 2022 conversation between Charlie Munger and Todd...
1st Oct 2026
1

[Outliers] Charlie Munger’s Interview with Todd Combs

from Farnam Street [alt+shift+b] in finance

1st Oct 2026
I’m excited to share this previously unreleased 2022 conversation between Charlie Munger and Todd Combs.  Public Release: Oct 6th. Members have access now.Join us. As with any Munger talk, the subjects are both deep and wide. I’ve pulled out the ideas that most resonated with me....
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LinkedIn Goes All In on Vertical Video For years, platforms like TikTok, Instagram Reels, and YouTube Shorts have dominated the short-form...
4th Feb 2025
46

LinkedIn Goes All In on Vertical Video

from Mazdak [alt+shift+b] in finance

4th Feb 2025
For years, platforms like TikTok, Instagram Reels, and YouTube Shorts have dominated the short-form video space.
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Data Update 5 for 2025: It's a small world, after all! If the title of this post sounds familiar, it is because is one of Disney’s most iconic rides, one...
6th Feb 2025
37

Data Update 5 for 2025: It's a small world, after all!

from Musings on Markets [alt+shift+b] in finance

6th Feb 2025
If the title of this post sounds familiar, it is because is one of Disney’s most iconic rides, one that I have taken hundreds of times, first with my own children and more recently, with my grandchildren. It is a mainstay of every Disney theme park, from the original Disneyland...
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The Fiacracy; A Mental Model for Modern Government This article will explain the following: 1. What is a Fiacracy 2. How do Fiacracies NOT work 3. How...
10th Aug 2024
50

The Fiacracy; A Mental Model for Modern Government

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

10th Aug 2024
This article will explain the following: 1. What is a Fiacracy 2. How do Fiacracies NOT work 3. How Fiacracies work 4. Are Fiacracies sustainable 5. Why Fiacracies matter 1. What is a fiacracy? It’s government by fiat (money). The driving mechanism by which it works is not...
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One Regulation E, Two Very Different Regimes How consumer protection in payments works, why it was designed that way, and why it’s being...
7th Jan 2026
1

One Regulation E, Two Very Different Regimes

from Bits about Money [alt+shift+b] in finance

7th Jan 2026
How consumer protection in payments works, why it was designed that way, and why it’s being contested today.
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America's $175 Trillion Problem The true state of the global financial system, in ten charts.
25th Jul 2024
132

America's $175 Trillion Problem

from balajis.com [alt+shift+b] in finance

25th Jul 2024
The true state of the global financial system, in ten charts.
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"I didn't launder the cash, your honor. The robot did." Crypto enthusiasts protest the trial of Alexey Pertsev As the multiple Tornado Cash legal cases...
11th Jun 2024
23

"I didn't launder the cash, your honor. The robot did."

from Moneyness [alt+shift+b] in finance

11th Jun 2024
Crypto enthusiasts protest the trial of Alexey Pertsev As the multiple Tornado Cash legal cases wend their way through courts in the Netherlands and the U.S., we continue to learn how society's money laundering laws will be applied to some of the more unique financial...
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In Credit Underwriting, Better is Worse Plus! IRR; Structure; Financial Epiphytes; Shale; Weakening the Cartel
2nd Jan 2025
61

In Credit Underwriting, Better is Worse

from The Diff [alt+shift+b] in finance

2nd Jan 2025
Plus! IRR; Structure; Financial Epiphytes; Shale; Weakening the Cartel
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What’s an Operational Definition Anyway? Two principles on collecting data, from the field of Statistical Process Control. As with most...
3rd Oct 2023
88

What’s an Operational Definition Anyway?

from Commoncog [alt+shift+b] in finance

3rd Oct 2023
Two principles on collecting data, from the field of Statistical Process Control. As with most principles in SPC, this is both simpler and more important than you might think.
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The Capital Cycle What a famous investing framework — part of the modern canon of value investing — tells us about the...
20th Sep 2023
125

The Capital Cycle

from Commoncog [alt+shift+b] in finance

20th Sep 2023
What a famous investing framework — part of the modern canon of value investing — tells us about the expertise of capital in business.
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Binance reopened its doors and $3.6 billion walked out Binance’s first day back, OpenAI wants a nicer word for data centers, Google prices space compute at...
a week ago
1

Binance reopened its doors and $3.6 billion walked out

from Mazdak [alt+shift+b] in finance

a week ago
Binance’s first day back, OpenAI wants a nicer word for data centers, Google prices space compute at 100x, and a benchmark where the best AI scores 12%.
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An Ode to Restraint: Lessons from the Tim Cook Legacy Through time, we have glorified conquerors and empire builders in politics, civic life and business,...
6th May 2026
1

An Ode to Restraint: Lessons from the Tim Cook Legacy

from Musings on Markets [alt+shift+b] in finance

6th May 2026
Through time, we have glorified conquerors and empire builders in politics, civic life and business, from Alexander the Great and Genghis Khan to the tech titans of today. That is no surprise, since these individuals have oversized personas and often change the course of history,...
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The Wisdom and Madness of Crowds: Market Prices as Political Predictors! In this, the first full week in November 2024, the big news stories of this week are political, as...
7th Nov 2024
31

The Wisdom and Madness of Crowds: Market Prices as Political Predictors!

from Musings on Markets [alt+shift+b] in finance

7th Nov 2024
In this, the first full week in November 2024, the big news stories of this week are political, as the US presidential election reached its climactic moment on Tuesday, but I don't write about politics, not because I do not have political views, but because I reserve those views...
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2024 Tax Strategies for Optimization and Savings The new year dawns, not just with fresh resolutions, but also the opportunity to reassess and...
3rd Jan 2024
126

2024 Tax Strategies for Optimization and Savings

from Mazdak [alt+shift+b] in finance

3rd Jan 2024
The new year dawns, not just with fresh resolutions, but also the opportunity to reassess and optimize your tax strategy. While taxes may not be the most exhilarating topic, savvy planning can significantly reduce your liability and boost your financial well-being. So, grab your...
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The Best Summary of Atlas Shrugged A brief, no-fluff, summary of Atlas Shrugged by Ayn Rand. If you want to learn how capitalist...
9th Jul 2026
3

The Best Summary of Atlas Shrugged

from Farnam Street [alt+shift+b] in finance

9th Jul 2026
A brief, no-fluff, summary of Atlas Shrugged by Ayn Rand. If you want to learn how capitalist countries become socialist, this book will help you. Let’s dive in. Atlas Shrugged: The Simple Version The world depends on a relatively small number of people who build, invent, and...
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Look Out Below As I often note, making Plans B and C is free. The stock market is always looking past "bad...
7th Oct 2025
1

Look Out Below

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

7th Oct 2025
As I often note, making Plans B and C is free. The stock market is always looking past "bad news" to front-run "good news." Once it became clear that the Titanic was indeed going to sink, the stock market would rally on the prospect of sharp growth in lifeboat shares. In...
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September ’26: Income rush Last month saw “La rentree” – the return to the real world, after an enjoyable summer. Very much so...
12th Oct 2026
1

September ’26: Income rush

from FIRE v London [alt+shift+b] in finance

12th Oct 2026
Last month saw “La rentree” – the return to the real world, after an enjoyable summer. Very much so for me, as it happens – but with plenty of enjoyment still to be found. I’ve taken in Frida Kahlo at the Tate Modern, a spot of luxury in the south of France, a City ritual…...
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Bank of Canada Holds Rates Steady, Inflation Progress Seen as Insufficient The Bank of Canada (BoC) opted to maintain its key interest rate at 5% today, signaling a cautious...
6th Mar 2024
102

Bank of Canada Holds Rates Steady, Inflation Progress Seen as Insufficient

from Mazdak [alt+shift+b] in finance

6th Mar 2024
The Bank of Canada (BoC) opted to maintain its key interest rate at 5% today, signaling a cautious stance on inflation despite recent declines. Governor Tiff Macklem acknowledged progress in bringing inflation down to 2.9% in January, but emphasized the need for continued...
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Trillions Flow into AI: The New Infrastructure Arms Race 🌐 Big Tech Bets Trillions on AI Infrastructure
26th Jun 2025
66

Trillions Flow into AI: The New Infrastructure Arms Race

from Mazdak [alt+shift+b] in finance

26th Jun 2025
🌐 Big Tech Bets Trillions on AI Infrastructure
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Mar ’23: Harvesting tax losses March has been rather a wet month in London. Wet, and cold. This translates into the ski slopes in...
7th Apr 2023
75

Mar ’23: Harvesting tax losses

from FIRE v London [alt+shift+b] in finance

7th Apr 2023
March has been rather a wet month in London. Wet, and cold. This translates into the ski slopes in the French Alps (finally) having great conditions – sadly too late for me to enjoy. Further north, it’s been a month of big change in Scotland. Nicola Sturgeon, the...
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Jan ’23: Mr Market defuses my tax bombshell January is always a miserable month to be in London. Thankfully I managed to get away a bit during...
1st Feb 2023
91

Jan ’23: Mr Market defuses my tax bombshell

from FIRE v London [alt+shift+b] in finance

1st Feb 2023
January is always a miserable month to be in London. Thankfully I managed to get away a bit during the month (not to Davos, no), and enjoy myself in London despite the wintry weather. What you’re paying for in Mayfair these days Market movements in January The markets on the...
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In the Future, Every AI Lab is a Neocloud for Fifteen Minutes Plus! FDE Crunch; Fable!; Egg Futures?; Becoming IBM; Surtaxes
2nd Jul 2026
1

In the Future, Every AI Lab is a Neocloud for Fifteen Minutes

from The Diff [alt+shift+b] in finance

2nd Jul 2026
Plus! FDE Crunch; Fable!; Egg Futures?; Becoming IBM; Surtaxes
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Longreads + Open Thread Radio, Startups, History, Bally's, Dead Internet, Caesars
1st Feb 2025
53

Longreads + Open Thread

from The Diff [alt+shift+b] in finance

1st Feb 2025
Radio, Startups, History, Bally's, Dead Internet, Caesars
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Popups are the new startups Now you can materialize your cloud community into the real world.
12th Oct 2025
30

Popups are the new startups

from balajis.com [alt+shift+b] in finance

12th Oct 2025
Now you can materialize your cloud community into the real world.
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May ’23: Magic megatech May has been election month. In the UK, some (but not all – and not London) local councils had...
4th Jun 2023
91

May ’23: Magic megatech

from FIRE v London [alt+shift+b] in finance

4th Jun 2023
May has been election month. In the UK, some (but not all – and not London) local councils had elections. The Tories took a drubbing, as expected. And overseas the notable election seemed to be Turkey, where autocratic Erdogan won (however fairly) another five year term – taking...
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What I’ve Been Reading Thoughts on the books I read in Q1 2025
3rd Apr 2025
1

What I’ve Been Reading

from The Rational Walk [alt+shift+b] in finance

3rd Apr 2025
Thoughts on the books I read in Q1 2025
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Modeling Life: Foundations Herman Wouk was researching for a novel he planned to write about World War II. He interviewed...
7th Apr 2024
140

Modeling Life: Foundations

from Seeking Wisdom [alt+shift+b] in finance

7th Apr 2024
Herman Wouk was researching for a novel he planned to write about World War II. He interviewed several physicists at Caltech who had worked on the bomb, including Richard Feynman. After the interview, Feynman asked Wouk if he knew Calculus. “No,” said Wouk. To which Feynman...
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Greg Abel’s 2026 Letter to Shareholders Greg Abel's first letter to Berkshire Hathaway shareholders emphasized the need to keep the...
2nd Mar 2026
1

Greg Abel’s 2026 Letter to Shareholders

from The Rational Walk [alt+shift+b] in finance

2nd Mar 2026
Greg Abel's first letter to Berkshire Hathaway shareholders emphasized the need to keep the company's unique culture.
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Economic Tailwinds and Headwinds After the election in November 2016, I pointed out that the economy was solid, that there were...
1st Apr 2025
61

Economic Tailwinds and Headwinds

from Calculated Risk [alt+shift+b] in finance

1st Apr 2025
After the election in November 2016, I pointed out that the economy was solid, that there were significant economic tailwinds and that it was unlikely that Mr. Trump would do everything he said during the campaign. See: The Future is still Bright! and The Cupboard is Full.  I...
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Credit card debt collection Credit card debt is the waste stream of consumer finance. The debt collection industry ends up being...
11th Aug 2023
43

Credit card debt collection

from Bits about Money [alt+shift+b] in finance

11th Aug 2023
Credit card debt is the waste stream of consumer finance. The debt collection industry ends up being sordid, for complex structural and microeconomic reasons.
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We Still Have No Idea Whether Passive Investing is a Meaningful Risk Plus! Complements and Strategy; Privacy, Competition, and Scale; Platforms and Ownership; KYC;...
26th Nov 2024
44

We Still Have No Idea Whether Passive Investing is a Meaningful Risk

from The Diff [alt+shift+b] in finance

26th Nov 2024
Plus! Complements and Strategy; Privacy, Competition, and Scale; Platforms and Ownership; KYC; Tariff Man
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The Anthropic Feedback Loop: The Cost of Capital Delusion and Diversion! I knew that my post on Anthropic would draw strong reactions, when I made it public last week. I did...
a week ago
1

The Anthropic Feedback Loop: The Cost of Capital Delusion and Diversion!

from Musings on Markets [alt+shift+b] in finance

a week ago
I knew that my post on Anthropic would draw strong reactions, when I made it public last week. I did mention in the course of the post that I have no interest in selling my estimate of value to the rest of the world, both because I don't own the high ground here and because it is...
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Risk and AI: It's Tricky The possibility that AI will end up unleashing waves of 'Anti-Progress'--malicious uses,...
1st Jul 2026
1

Risk and AI: It's Tricky

from oftwominds-Charles Hugh Smith [alt+shift+b] in finance

1st Jul 2026
The possibility that AI will end up unleashing waves of 'Anti-Progress'--malicious uses, untrustworthy output and uncontrollable floods of slop--also doesn't occur to those confined in the current belief construct. A funny thing happens on the way to understanding risk: we...
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Heureka A “heureka” is a surprisingly powerful yet simple solution to a complex optimization problem, which...
20th Sep 2025
1

Heureka

from Molson Hart's Blog - Molson Hart [alt+shift+b] in finance

20th Sep 2025
A “heureka” is a surprisingly powerful yet simple solution to a complex optimization problem, which is theoretically inferior to more complicated solutions, but is, in practice, optimal. Example: “I’m a 22 year old Phi Beta Kappa alumnus of University of Iowa and I have this idea...
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The Creation of a Skilled Tycoon What it looks like when an Asian tycoon gets good at the game of business.
8th Dec 2025
1

The Creation of a Skilled Tycoon

from Commoncog [alt+shift+b] in finance

8th Dec 2025
What it looks like when an Asian tycoon gets good at the game of business.
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Working Out Will Change Your Life Do you want to lose weight? Have more energy? Sleep better? Improve your mood? If so, then you need...
8th Aug 2023
39

Working Out Will Change Your Life

from Mazdak [alt+shift+b] in finance

8th Aug 2023
Do you want to lose weight? Have more energy? Sleep better? Improve your mood? If so, then you need to start working out. Working out has a myriad of benefits that can improve your life in many ways. Here are just a few of the ways that working out can change your life:
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The Imitation Game: Defending against AI's Dark Side! A few weeks ago, I started receiving a stream of message about an Instagram post that I was...
5th Aug 2025
50

The Imitation Game: Defending against AI's Dark Side!

from Musings on Markets [alt+shift+b] in finance

5th Aug 2025
A few weeks ago, I started receiving a stream of message about an Instagram post that I was allegedly starring in, where after offering my views on Palantir's valuation, I was soliciting investors to invest with me (or with an investment entity that had ties to me). I was not...
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Greg Abel’s 2026 Letter to Shareholders Greg Abel's first letter to Berkshire Hathaway shareholders emphasized the need to keep the...
2nd Mar 2026
1

Greg Abel’s 2026 Letter to Shareholders

from The Rational Walk [alt+shift+b] in finance

2nd Mar 2026
Greg Abel's first letter to Berkshire Hathaway shareholders emphasized the need to keep the company's unique culture.
Direct Link [→] Remove from reading list Add to reading list [alt+a]
Letter to a Young Person Worrying About AI It is a common misperception that you must be able to predict the future to do well. But it’s...
20th Oct 2025
42

Letter to a Young Person Worrying About AI

from Commoncog [alt+shift+b] in finance

20th Oct 2025
It is a common misperception that you must be able to predict the future to do well. But it’s possible to act without prediction, even in the face of AI. This is how.
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Revisiting the SpaceX Valuation: A Post-Prospectus Update! A few weeks ago, I assessed the value of SpaceX ahead of its initial public offering, with the...
4th Jun 2026
1

Revisiting the SpaceX Valuation: A Post-Prospectus Update!

from Musings on Markets [alt+shift+b] in finance

4th Jun 2026
A few weeks ago, I assessed the value of SpaceX ahead of its initial public offering, with the admission that I was making my estimates with drabs of data, some of it coming from unofficial sources. I also promised to revisit my valuation, when the prospectus came out, and now...
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Financial systems take a holiday Ever wondered about what happens when banks are closed or why some apps have operating hours? It's...
29th Feb 2024
143

Financial systems take a holiday

from Bits about Money [alt+shift+b] in finance

29th Feb 2024
Ever wondered about what happens when banks are closed or why some apps have operating hours? It's fascinating.
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Renovatio monetae This silver pfennig from the Archbishopric of Magdeburg (1152-1192) was subject to a policy of...
8th May 2024
27

Renovatio monetae

from Moneyness [alt+shift+b] in finance

8th May 2024
This silver pfennig from the Archbishopric of Magdeburg (1152-1192) was subject to a policy of renovatio monetae. Twice a year whoever held it had to bring it in to be changed for new coins at a rate of four old coins to three new coins. That suggests an annualized tax rate on...
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1st Sept 2026: An Increase in Membership Prices Commoncog is increasing membership prices on 1st September 2026. If you’d like to lock in the old...
11th Aug 2026
1

1st Sept 2026: An Increase in Membership Prices

from Commoncog [alt+shift+b] in finance

11th Aug 2026
Commoncog is increasing membership prices on 1st September 2026. If you’d like to lock in the old prices, you should probably sign up before then.
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Interesting Reading – November 7, 2016 In this series, we suggest worthwhile reading material on a variety of topics, not all of which are...
19th Jun 2026
1

Interesting Reading – November 7, 2016

from The Rational Walk [alt+shift+b] in finance

19th Jun 2026
In this series, we suggest worthwhile reading material on a variety of topics, not all of which are directly related to investing.
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Data Update 1 for 2026: The Push and Pull of Data! In my musings on valuation, I have long described myself as more of a number cruncher than a...
9th Jan 2026
1

Data Update 1 for 2026: The Push and Pull of Data!

from Musings on Markets [alt+shift+b] in finance

9th Jan 2026
In my musings on valuation, I have long described myself as more of a number cruncher than a storyteller, but it is because I love numbers for their own sake, rather than a fondness for abstract mathematics. It is that love for numbers that has led me at the beginning of each...
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Stock Prices, Earnings and Cashflows: The AI Effect plays through! In a post at the end of August 2026, I talked about interest rates in 2026 and marveled at the...
8th Oct 2026
2

Stock Prices, Earnings and Cashflows: The AI Effect plays through!

from Musings on Markets [alt+shift+b] in finance

8th Oct 2026
In a post at the end of August 2026, I talked about interest rates in 2026 and marveled at the capacity of equities to keep rising in the face of rising rates. I argued that the resilience of stocks during the year could be traced to higher-than-expected earnings being reported...
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Why the CrowdStrike bug hit banks hard Regulation-induced monocultures meet unfortunate but explicable engineering decisions.
31st Jul 2024
135

Why the CrowdStrike bug hit banks hard

from Bits about Money [alt+shift+b] in finance

31st Jul 2024
Regulation-induced monocultures meet unfortunate but explicable engineering decisions.
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One Definition of Wisdom Charlie Munger’s biggest business mistake, and what it tells us about wisdom.
14th Feb 2024
123

One Definition of Wisdom

from Commoncog [alt+shift+b] in finance

14th Feb 2024
Charlie Munger’s biggest business mistake, and what it tells us about wisdom.
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How to Use Power How do you gain power, use power, and identify those who have power, so that you may protect...
2nd Dec 2024
98

How to Use Power

from Commoncog [alt+shift+b] in finance

2nd Dec 2024
How do you gain power, use power, and identify those who have power, so that you may protect yourself against them? Part two of three in a series on power in business.
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Caroline Ellison: A woman with agency or a helpless pawn? Why did the former Alameda Research CEO receive only two years imprisonment for her role in the FTX...
2nd Oct 2024
83

Caroline Ellison: A woman with agency or a helpless pawn?

from Citation Needed [alt+shift+b] in finance

2nd Oct 2024
Why did the former Alameda Research CEO receive only two years imprisonment for her role in the FTX collapse?
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What I learned from Prof. Sanjay Bakshi’s Behavioral Economics Course at FLAME University I had the privilege to attend Prof. Sanjay Bakshi’s Behavioral Economics course at FLAME University....
7th Aug 2022
45

What I learned from Prof. Sanjay Bakshi’s Behavioral Economics Course at FLAME University

from Seeking Wisdom [alt+shift+b] in finance

7th Aug 2022
I had the privilege to attend Prof. Sanjay Bakshi’s Behavioral Economics course at FLAME University. Being his student since 2011, I realized my dream by sitting in his class for 3.5 days. Prof. Bakshi taught us around 20 different models from Charlie Munger’s Psychology of Human...
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Banking in very uncertain times We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we...
14th Mar 2023
40

Banking in very uncertain times

from Bits about Money [alt+shift+b] in finance

14th Mar 2023
We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we may not get about it.
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April 2025 – balmy weather, barmy markets Better late than never, I’m doing a quick update on April. More for the record than because anything...
24th May 2025
63

April 2025 – balmy weather, barmy markets

from FIRE v London [alt+shift+b] in finance

24th May 2025
Better late than never, I’m doing a quick update on April. More for the record than because anything particularly notable happened in the portfolio, ignoring the mid month gyrations. It was a lovely month, April. I did a bit of travelling, but the UK had generally lovely spring...
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Data Update 1 for 2025: The Draw (and Danger) of Data For the last four decades, I have spent the first week of each year collecting and analyzing data on...
10th Jan 2025
31

Data Update 1 for 2025: The Draw (and Danger) of Data

from Musings on Markets [alt+shift+b] in finance

10th Jan 2025
For the last four decades, I have spent the first week of each year collecting and analyzing data on publicly traded companies and sharing what I find with anyone who is interested. It is the end of the first full week in 2025, and my data update for the year is now up and...
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Lessons on Leadership: Michael Abrashoff on Turning the Worst Ship in the Navy into the Best Michael Abrashoff was in his mid-thirties when he took command of the USS Benfold, a guided missile...
23rd Oct 2022
118

Lessons on Leadership: Michael Abrashoff on Turning the Worst Ship in the Navy into the Best

from Farnam Street [alt+shift+b] in finance

23rd Oct 2022
Michael Abrashoff was in his mid-thirties when he took command of the USS Benfold, a guided missile destroyer and one of the worst-performing ships in the navy. Despite her potency, the “dysfunctional ship had a sullen crew that resented being there and could not wait to get out...
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Network School 2025 Network School reopens March 1 with double the capacity. Apply now at ns.com.
2nd Feb 2025
82

Network School 2025

from balajis.com [alt+shift+b] in finance

2nd Feb 2025
Network School reopens March 1 with double the capacity. Apply now at ns.com.
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