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May 2nd COVID Update: COVID Deaths Continue to Decline Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. For deaths, I'm...
2nd May 2025
18

May 2nd COVID Update: COVID Deaths Continue to Decline

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

2nd May 2025
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios. For deaths, I'm currently using 4 weeks ago for "now", since the most recent three weeks will be revised significantly. Note: "Effective May 1, 2024, hospitals are no longer required to report...
April ’24: Juggling cash as new UK tax year begins The temperature in the Middle East got even hotter in April, with Israel and Iran trading attacks on...
11th May 2024
184

April ’24: Juggling cash as new UK tax year begins

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

11th May 2024
The temperature in the Middle East got even hotter in April, with Israel and Iran trading attacks on each other’s sovereign buildings/territory. Somehow World War III has never really seemed in danger of breaking out but it is a reminder that only change is constant. Over in New...
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...
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.
Issue 45 – I'm the director now Rising bitcoin prices bring echoes of the crypto mania from years past, and an ambitious hacker...
5th Dec 2023
88

Issue 45 – I'm the director now

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

5th Dec 2023
Rising bitcoin prices bring echoes of the crypto mania from years past, and an ambitious hacker decides to manifest a new job for themselves.
Mar ’25: Anticipating tariffs What’s in the news? Talking about the news in March, give nwhat’s been happing on the tariff front...
11th Apr 2025
58

Mar ’25: Anticipating tariffs

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

11th Apr 2025
What’s in the news? Talking about the news in March, give nwhat’s been happing on the tariff front over the last few weeks, seems a bit pointless. We entered March with a lot of drama about Ukraine, and some notable ‘ceasefire’ activity on the diplomatic front. We finished March...
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.
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.
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.
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...
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...
Issue 54 – Cases continue Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two...
2nd Apr 2024
143

Issue 54 – Cases continue

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

2nd Apr 2024
Crypto-related litigation is in full swing, as the Terra civil fraud trial has kicked off and two other cases against crypto companies have survived motions to dismiss.
Truth Be Told The ultimate truth is revealing the truth of the situation and our feelings about it are a relief,...
15th Oct 2026
1

Truth Be Told

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

15th Oct 2026
The ultimate truth is revealing the truth of the situation and our feelings about it are a relief, and the starting point to moving forward in a positive direction. This is the first in a series of posts around the theme of Truth Be Told, a theme that demands some...
Debanking (and Debunking?) Crypto advocates kicked off a recent, somewhat politicized, discussion of debanking. Strap in for...
9th Dec 2024
117

Debanking (and Debunking?)

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

9th Dec 2024
Crypto advocates kicked off a recent, somewhat politicized, discussion of debanking. Strap in for scintillating banking compliance trivia.
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.
Issue 53 – Choose rich Euphoria has risen along with crypto prices, but nothing has changed from the last bubble.
13th Mar 2024
121

Issue 53 – Choose rich

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

13th Mar 2024
Euphoria has risen along with crypto prices, but nothing has changed from the last bubble.
Buffett Completes Succession Plan Warren Buffett has completed Berkshire's succession plan as he steps down as Chairman.
18th Sep 2026
1

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.
To Bitcoin or not to Bitcoin? A Corporate Cash Question! In this post, I will bring together two disparate and very different topics that I have written...
18th Jul 2025
50

To Bitcoin or not to Bitcoin? A Corporate Cash Question!

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

18th Jul 2025
In this post, I will bring together two disparate and very different topics that I have written about in the past. The first is the role that cash holdings play in a business, an extension of the dividend policy question, with an examination of why businesses often should not pay...
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...
The Ultimate Small Business Hiring Guide How to Find the Right Fit for Your Team
9th Oct 2024
105

The Ultimate Small Business Hiring Guide

from Mazdak [alt+shift+b] in finance

9th Oct 2024
How to Find the Right Fit for Your Team
If We Set Aside Ideology, Is There Anything We Can Agree On? Just the experiment of setting aside ideological certainties for a moment would be instructive. ...
3rd Mar 2025
47

If We Set Aside Ideology, Is There Anything We Can Agree On?

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

3rd Mar 2025
Just the experiment of setting aside ideological certainties for a moment would be instructive. Humans are hard-wired to prefer simplicity over complexity, and this is the foundation of ideology, which like mythology takes a complex world and radically simplifies it to an...
AI Scenarios: From Doomsday Destruction to Do-Nothing Bots! When Chat GPT made its debut on November 30, 2022, it unleashed the hype of AI, and in the three...
4th Mar 2026
1

AI Scenarios: From Doomsday Destruction to Do-Nothing Bots!

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

4th Mar 2026
When Chat GPT made its debut on November 30, 2022, it unleashed the hype of AI, and in the three years since, AI has taken on an outsized role not just in markets, but also in our lives. For much of the time, the AI story has been told by its advocates and its salespeople, and...
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
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.
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.
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.
AI Data Centers Are Not the Railroads of Today The AI boom shares all the risk profiles of previous speculative manias but lacks society-wide...
1st Jun 2026
1

AI Data Centers Are Not the Railroads of Today

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

1st Jun 2026
The AI boom shares all the risk profiles of previous speculative manias but lacks society-wide benefits while generating fast-metastasizing negative consequences and costs. The idea that the current bubble in AI data centers is an echo of the railroad-construction bubble of...
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.
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.
All the Demand Ideas from The Heart of Innovation, Simply Stated All the ideas of the Heart of Innovation, compressed into one piece.
3rd Mar 2026
1

All the Demand Ideas from The Heart of Innovation, Simply Stated

from Commoncog [alt+shift+b] in finance

3rd Mar 2026
All the ideas of the Heart of Innovation, compressed into one piece.
The Global Trade Game: Jokers Are Wild There may be no winners of the game of Global Domination (tm), and that is likely the best outcome....
2nd Apr 2025
49

The Global Trade Game: Jokers Are Wild

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

2nd Apr 2025
There may be no winners of the game of Global Domination (tm), and that is likely the best outcome. Okay, players: jokers are wild, but with a twist: the entire deck is jokers. Since everyone at the table will have five Aces, nobody wins. Welcome to the Trade War Poker...
Being an Amazon Seller in 2021; Year in Review I’m the founder and CEO of Viahart (est. 2010), an e-commerce focused educational toy company. We...
23rd Jan 2022
27

Being an Amazon Seller in 2021; Year in Review

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

23rd Jan 2022
I’m the founder and CEO of Viahart (est. 2010), an e-commerce focused educational toy company. We did $8.8 million in sales in 2021. This article is going to tell you what it was like to run this business in 2021 vs. 2020, amidst threats like the Amazon aggregators, supply chain...
Decentralizing Education with Synthesis I'm co-leading a round in Synthesis, a startup scaling the custom school built for Elon Musk’s kids.
21st Apr 2022
37

Decentralizing Education with Synthesis

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

21st Apr 2022
I'm co-leading a round in Synthesis, a startup scaling the custom school built for Elon Musk’s kids.
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.
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.
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...
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.
Trillion Dollar Market Caps: Fairy Tale Pricing or Business Marvels? Stock markets have always rewarded winners with large capitalizations, and with each new threshold,...
3rd Dec 2025
1

Trillion Dollar Market Caps: Fairy Tale Pricing or Business Marvels?

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

3rd Dec 2025
Stock markets have always rewarded winners with large capitalizations, and with each new threshold, the questions begin anew of whether animal spirits or fundamentals are driving the numbers. A few weeks ago, Nvidia seemed unstoppable as its market capitalization crested $5...
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.
How to Win Friends and Influence People by Dale Carnegie: A Summary and Key Takeaways Dale Carnegie's How to Win Friends and Influence People is one of the most popular and influential...
13th Oct 2023
117
13th Oct 2023
Dale Carnegie's How to Win Friends and Influence People is one of the most popular and influential self-help books ever written. First published in 1936, it has sold over 50 million copies and been translated into over 30 languages. The book is a practical guide to improving...
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....
Apr ’23: Wind and windfalls April saw the season of long weekends begin here in the UK. Easter saw me inspired by the Ermine to...
6th May 2023
113

Apr ’23: Wind and windfalls

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

6th May 2023
April saw the season of long weekends begin here in the UK. Easter saw me inspired by the Ermine to check out Dorset’s Chesil beach. We struck lucky with the weather and had a fine, distinctly non-London, time, over a very blustery Easter weekend. My walking shoes seem to have...
Brainwashing for Confidence My mom brainwashed me to be confident. She told me over and over that I was great and destined for...
15th Apr 2026
1

Brainwashing for Confidence

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

15th Apr 2026
My mom brainwashed me to be confident. She told me over and over that I was great and destined for great things. And it worked. To this day, when I lose or make a mistake, I get mad, but I always wind up where my mother left me: “You’re great. All you need is more practice.” And...
Issue 69 – Nice Coinbase threatens me that continuing to report on their activities would be “.... unwise”. Also,...
2nd Nov 2024
89

Issue 69 – Nice

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

2nd Nov 2024
Coinbase threatens me that continuing to report on their activities would be “.... unwise”. Also, election spending hits a fever pitch, with several new crypto PACs coming out of the woodwork.
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.
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...
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
Move Your Business Abroad: A Step-by-Step Guide for Entrepreneurs Expanding your business abroad can be a great way to reach new markets, increase revenue, and...
6th Nov 2023
93
6th Nov 2023
Expanding your business abroad can be a great way to reach new markets, increase revenue, and diversify your portfolio. However, it's important to do your research and take the necessary steps to ensure a successful transition. Here are some practical tips for entrepreneurs...
2nd Look at Local Housing Markets in November Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in...
11th Dec 2024
43

2nd Look at Local Housing Markets in November

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

11th Dec 2024
Today, in the Calculated Risk Real Estate Newsletter: 2nd Look at Local Housing Markets in November A brief excerpt: NOTE: The tables for active listings, new listings and closed sales all include a comparison to November 2019 for each local market (some 2019 data is not...
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.
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...
Begging Bowl '25: I'm Looking for Two Readers Willing to Help Me Buy a New Thrift-Store Shirt The goal is to move incrementally toward a kind of happiness that actually makes us happy. That's...
2nd Feb 2025
32

Begging Bowl '25: I'm Looking for Two Readers Willing to Help Me Buy a New Thrift-Store Shirt

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

2nd Feb 2025
The goal is to move incrementally toward a kind of happiness that actually makes us happy. That's the goal of my work. I admire unvarnished honesty, which is scarce. And like everything else that's increasingly scarce, it behooves us to hoard our stash. In the unvarnished...
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,...
Trump Jr.-advised prediction markets invite bets on president’s demise President Trump’s deregulatory agenda emboldened prediction markets to push boundaries around...
2nd Sep 2025
60

Trump Jr.-advised prediction markets invite bets on president’s demise

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

2nd Sep 2025
President Trump’s deregulatory agenda emboldened prediction markets to push boundaries around permitted event contracts. Now sites advised by his son are allowing bets on his death.
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...
Being an Amazon Seller in 2020; Year in Review I’m the founder and CEO of Viahart, an educational toy company. We did about $7.4 million in sales...
3rd Jan 2021
25

Being an Amazon Seller in 2020; Year in Review

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

3rd Jan 2021
I’m the founder and CEO of Viahart, an educational toy company. We did about $7.4 million in sales in 2020, mostly through e-commerce channels like Amazon and Walmart.com. This article is going to tell you what that was like and how things were different in 2020 than in 2019. To...
AI is polytheistic, not monotheistic And ten more thoughts on AI.
3rd Aug 2025
61

AI is polytheistic, not monotheistic

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

3rd Aug 2025
And ten more thoughts on AI.
Issue 63 – RobConf 2024 Coinbase responds to campaign finance violation allegations, Trump panders to bitcoiners, and I chat...
7th Aug 2024
118

Issue 63 – RobConf 2024

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

7th Aug 2024
Coinbase responds to campaign finance violation allegations, Trump panders to bitcoiners, and I chat with Lyn Alden about sexism in bitcoin.
Data and the Capital Cycle: How Koch Became an Empire How Koch Industries became an empire. We draw on ideas from both the Becoming Data Driven series and...
11th Dec 2023
112

Data and the Capital Cycle: How Koch Became an Empire

from Commoncog [alt+shift+b] in finance

11th Dec 2023
How Koch Industries became an empire. We draw on ideas from both the Becoming Data Driven series and the Capital Expertise series.
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
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.
⚖️ 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? 🤔
Capital Gains Tax Hike: Sell Now or Hold On? A Canadian Investor's Guide Canada's recent federal budget has sent ripples through the investment and real estate communities....
24th May 2024
149
24th May 2024
Canada's recent federal budget has sent ripples through the investment and real estate communities. A key change: a looming increase in capital gains tax on sizeable transactions. This has many wondering – should I sell assets before June 25th, 2024, to avoid the taxman's bite?...
The 2024 Commoncog Recap Everything that we covered in 2024, and what to expect in the coming year.
8th Jan 2025
86

The 2024 Commoncog Recap

from Commoncog [alt+shift+b] in finance

8th Jan 2025
Everything that we covered in 2024, and what to expect in the coming year.
"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...
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.
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.
Citation Needed has a new home Citation Needed is no longer hosted on Substack. Welcome to my antifascist bar.
5th Jan 2024
101

Citation Needed has a new home

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

5th Jan 2024
Citation Needed is no longer hosted on Substack. Welcome to my antifascist bar.
The business of wallets How digital wallets work, and how payment costs drive a lot of product decisions inside and around...
30th Apr 2024
124

The business of wallets

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

30th Apr 2024
How digital wallets work, and how payment costs drive a lot of product decisions inside and around them.
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)...
Stablecoins – a digital version of Swiss bearer savings books Before anti-money laundering laws arrived in Switzerland, anyone could walk into a Swiss bank and...
9th Aug 2024
27

Stablecoins – a digital version of Swiss bearer savings books

from Moneyness [alt+shift+b] in finance

9th Aug 2024
Before anti-money laundering laws arrived in Switzerland, anyone could walk into a Swiss bank and open an account without showing any ID. The bank would then issue you something called a bearer savings book, otherwise known as inhabersparheften or livrets d'épargne au porteur....
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
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...
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.
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.
A glass half-full take on Caucasus sanctions evasion Ed Conway of Sky News recently published a very good investigation on sanctions evasion being...
2nd Oct 2024
25

A glass half-full take on Caucasus sanctions evasion

from Moneyness [alt+shift+b] in finance

2nd Oct 2024
Ed Conway of Sky News recently published a very good investigation on sanctions evasion being carried out through the Caucasus. He visits the Lars border crossing between Georgia and Russia to document how smugglers are openly moving British and German luxury cars into Russia, in...
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...
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
26th Nov 2024
Plus! Complements and Strategy; Privacy, Competition, and Scale; Platforms and Ownership; KYC; Tariff Man
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
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,...
The Edge Thinking with Machines was such a joyful read that I finished it in a single sitting during a...
8th Feb 2026
1

The Edge

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

8th Feb 2026
Thinking with Machines was such a joyful read that I finished it in a single sitting during a seven-hour flight. Do read it if you want to understand how AI will change the way we live and work. Vasant has lived through every major shift in AI, from expert systems to today’s push...
Issue 59 – Hot damn, this is going to get interesting quickly Are US legislators warming to crypto? The SEC approves Ethereum ETPs, and a crypto bill gets through...
7th Jun 2024
134

Issue 59 – Hot damn, this is going to get interesting quickly

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

7th Jun 2024
Are US legislators warming to crypto? The SEC approves Ethereum ETPs, and a crypto bill gets through the House.
Minimal Impact to Insurers from Icelandic Volcano Eruption At least for now, most air travel restrictions caused by the eruption of the Eyjafjallajökull...
11th Aug 2026
1

Minimal Impact to Insurers from Icelandic Volcano Eruption

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

11th Aug 2026
At least for now, most air travel restrictions caused by the eruption of the Eyjafjallajökull volcano have been lifted throughout Europe.
Business Ecosystem Change Takes Time The birth of Sony, and the possibility that private corporations and private individuals can change...
11th Jun 2024
141

Business Ecosystem Change Takes Time

from Commoncog [alt+shift+b] in finance

11th Jun 2024
The birth of Sony, and the possibility that private corporations and private individuals can change broader business ecosystems.
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.
Understanding the Stock Market Cycle The stock market cycle is a crucial concept for investors aiming to navigate the financial markets...
7th Jun 2024
144

Understanding the Stock Market Cycle

from Mazdak [alt+shift+b] in finance

7th Jun 2024
The stock market cycle is a crucial concept for investors aiming to navigate the financial markets effectively. It represents the period from a market low to a peak and back again. Understanding the dynamics behind these cycles can help investors maintain their strategies during...
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
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...
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...
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...
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...
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?
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...
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.
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
Nov ’25: Coastal Folly loan repaid Trump dominated the headlines again. This time partly due to some very biased editing by the BBC of...
14th Dec 2025
2

Nov ’25: Coastal Folly loan repaid

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

14th Dec 2025
Trump dominated the headlines again. This time partly due to some very biased editing by the BBC of a Panorama show about Trump before the US election. There was also the omnipresent UK Budget. Which has had more than enough coverage. I did a ‘damage assessment‘ at the time and...
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...
Demystifying financial leverage Leverage is actually reasonably easy to understand, both in the math and in the implications for...
11th Nov 2022
38

Demystifying financial leverage

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

11th Nov 2022
Leverage is actually reasonably easy to understand, both in the math and in the implications for financial firms.
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.
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...
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
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.
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.
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
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...
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...
Hello LLMs! When you are having trouble getting your thinking straight, consider an extreme or simple case. This...
4th Oct 2023
101

Hello LLMs!

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

4th Oct 2023
When you are having trouble getting your thinking straight, consider an extreme or simple case. This will often give you the insight needed to move forward. I nodded in agreement when I read the above lines from the book Maxims for Thinking Analytically. ChatGPT took the world by...
June ’23: The hottest ever June saw UK’s former PM Mr Johnson leave parliament. Good riddance. I suspect we haven’t seen or...
15th Jul 2023
66

June ’23: The hottest ever

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

15th Jul 2023
June saw UK’s former PM Mr Johnson leave parliament. Good riddance. I suspect we haven’t seen or (definitely) read the last of him but having him out of Westminster is at least a bit safer than him inside. Closer to (my Coastal Folly) home, there has been a sad story in...
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.
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.
May ’24: UK election called The month of May seems a little while ago, so I’d better get on and write it up. This will be quick....
14th Jun 2024
141

May ’24: UK election called

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

14th Jun 2024
The month of May seems a little while ago, so I’d better get on and write it up. This will be quick. The big news in the UK was Rishi Sunak, the outgoing PM, calling a general election for 4 July. Independence-from-the-Tories Day. May was also the month that u-turner/blowharder...
Focus Is Saying No To Good Ideas Several stories about one of the hardest maxims to put to practice in business.
18th Oct 2022
111

Focus Is Saying No To Good Ideas

from Commoncog [alt+shift+b] in finance

18th Oct 2022
Several stories about one of the hardest maxims to put to practice in business.
The Amazon Weekly Business Review Everything you need to know about the Amazon Weekly Business Review: how it works, why it works, and...
2nd Jul 2024
176

The Amazon Weekly Business Review

from Commoncog [alt+shift+b] in finance

2nd Jul 2024
Everything you need to know about the Amazon Weekly Business Review: how it works, why it works, and how it helps Amazon win.
Mar ’24: A towering influence I’ve enjoyed March. I managed to enjoy a few days’ skiing, despite less snow than any of us would...
1st Apr 2024
146

Mar ’24: A towering influence

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

1st Apr 2024
I’ve enjoyed March. I managed to enjoy a few days’ skiing, despite less snow than any of us would like, in the Austrian alps. Back at home, the sun has been getting stronger, and the evenings have been getting lighter – and now with Summer Time we will enjoy lovely late evenings...
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...
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
What Do Brontosauruses Know about Uncoordinated Conspiracies? Brontosaurus skeleton at the Yale Peabody Museum of Natural History (allegedly) Let’s pretend for a...
2nd Sep 2024
33

What Do Brontosauruses Know about Uncoordinated Conspiracies?

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

2nd Sep 2024
Brontosaurus skeleton at the Yale Peabody Museum of Natural History (allegedly) Let’s pretend for a moment that brontosauruses are made up, despite them being accepted by the public and scientific community, having ample evidence for their existence, and appearing in museums all...
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.
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...
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.
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…...
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.
Twitter vs. Instagram Threads: The Battle for the Short-Form Social Media Crown Twitter and Instagram are two of the most popular social media platforms in the world. They both...
8th Jul 2023
42
8th Jul 2023
Twitter and Instagram are two of the most popular social media platforms in the world. They both offer users a way to share short-form content, but they have different approaches to how that content is displayed and consumed. Twitter is a more public platform, where anyone can...
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...
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.
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...
When People Outperform Data People who succeed via analysis of numbers and facts need to learn that understanding of people can...
23rd Nov 2024
38

When People Outperform Data

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

23rd Nov 2024
People who succeed via analysis of numbers and facts need to learn that understanding of people can make that analysis unnecessary and can even outperform it. Examples: 1. Amazon did not make money between its 1994 founding through 2002. There was no financial or business...
Nov ’24: 3x London life I’ve been keeping busy as winter in London sets in. The Christmas lights are all out and...
7th Dec 2024
110

Nov ’24: 3x

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

7th Dec 2024
London life I’ve been keeping busy as winter in London sets in. The Christmas lights are all out and looking resplendent, and both the West End and the City are feeling pretty buzzy. For all the general ‘UK stuck in the weeds’ economic commentary, we feel a long way from any talk...
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.
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...
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.
The Irresistible Temptations of Centralized Power The only "reform" that changes our lives in a fundamentally positive way is radical decentralization...
1st Sep 2026
1

The Irresistible Temptations of Centralized Power

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

1st Sep 2026
The only "reform" that changes our lives in a fundamentally positive way is radical decentralization via distributing centralized power. Presidents like to deal with the CEOs of corporate monopolies for self-evident reasons: Rather than engage in the tedious, contentious...
Embeddings – Part 2 This is the 9th post in my series on building a toy GPT. For better understanding, I recommend...
3rd Dec 2023
125

Embeddings – Part 2

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

3rd Dec 2023
This is the 9th post in my series on building a toy GPT. For better understanding, I recommend reading my earlier posts first. Word embeddings convert words into fixed-length numerical arrays. Each number in these arrays corresponds to a specific characteristic of the word, such...
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
Case for indexing Warren Buffet made a compelling case in favor of indexing in the 2021 Berkshire Hathaway’s AGM. In...
5th Feb 2023
49

Case for indexing

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

5th Feb 2023
Warren Buffet made a compelling case in favor of indexing in the 2021 Berkshire Hathaway’s AGM. In 1989, 65% of the top 20 global companies were domiciled in Japan. After three decades, 65% of the top 20 global companies are from the US. No companies from Japan made into the top...
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.
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...
A Sketch of Meta as an Enterprise AI Company Plus! IP; Gemini; Interfaces; The End Customer; Humans
1st Oct 2026
1

A Sketch of Meta as an Enterprise AI Company

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

1st Oct 2026
Plus! IP; Gemini; Interfaces; The End Customer; Humans
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
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.
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...
The Power of Our Behavior Why is any reduction in consumption posed in terms of unbearable sacrifice, when no sacrifices are...
23rd Jan 2025
32

The Power of Our Behavior

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

23rd Jan 2025
Why is any reduction in consumption posed in terms of unbearable sacrifice, when no sacrifices are necessary to consequentially reduce consumption? When we think of the word power, we associate it with external forces: energy, technology, the government, etc. But our own...
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...
A Few Notes on Moats Some non-obvious, even surprising things about building competitive moats, including when they might...
11th Feb 2026
1

A Few Notes on Moats

from Commoncog [alt+shift+b] in finance

11th Feb 2026
Some non-obvious, even surprising things about building competitive moats, including when they might not be necessary.
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...
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?
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,...
Operational Excellence is the Pursuit of ‘Knowledge’ It turns out that operational excellence results from the pursuit of a certain form of knowledge....
16th Mar 2023
141

Operational Excellence is the Pursuit of ‘Knowledge’

from Commoncog [alt+shift+b] in finance

16th Mar 2023
It turns out that operational excellence results from the pursuit of a certain form of knowledge. This is Part 3 of the Becoming Data Driven series, and the result of a deep dive into the field of statistical process control.
How to Improve at Sensemaking AI? What we can learn from the disorienting changes hitting the software industry, and how we can use...
3rd May 2026
1

How to Improve at Sensemaking AI?

from Commoncog [alt+shift+b] in finance

3rd May 2026
What we can learn from the disorienting changes hitting the software industry, and how we can use that to improve at sensemaking this uncertain new technology.
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
What are the Key Properties of Bitcoin? There are plenty of unwritten rules when it comes to proposing protocol changes in Bitcoin. Some are...
11th Jan 2025
22

What are the Key Properties of Bitcoin?

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

11th Jan 2025
There are plenty of unwritten rules when it comes to proposing protocol changes in Bitcoin. Some are philosophical, some are technical, and some are a blend.
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...
How Experts Sensemake Two decades ago, the US military funded some research into how humans sensemake. This piece is about...
7th Apr 2026
1

How Experts Sensemake

from Commoncog [alt+shift+b] in finance

7th Apr 2026
Two decades ago, the US military funded some research into how humans sensemake. This piece is about that theory — the best theory of sensemaking that we have — why it matters for expertise, and how you can apply it to make sense of AI.
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...
Is China Taking Over US Retail? Yes. Let me explain. Amazon made it easy for Chinese companies to sell their products directly to...
17th Aug 2021
24

Is China Taking Over US Retail?

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

17th Aug 2021
Yes. Let me explain. Amazon made it easy for Chinese companies to sell their products directly to American consumers. In response, the Chinese, after having hollowed out American manufacturing, have moved up the value chain to do the same thing to American wholesale and retail....
Jan ’24: A giant tax bill lands One of several highlights for me in January was visiting Salisbury cathedral, which I did on an...
10th Feb 2024
141

Jan ’24: A giant tax bill lands

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

10th Feb 2024
One of several highlights for me in January was visiting Salisbury cathedral, which I did on an impulse while travelling back from the Coastal Folly. My main frame of reference to the cathedral being those notorious Russian nerve agent assassins citing it as their reason for...
Oct ’25: Trim, trim & trim October in the markets was one of those slightly giddy months. My portfolio crossed through a big...
9th Nov 2025
1

Oct ’25: Trim, trim & trim

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

9th Nov 2025
October in the markets was one of those slightly giddy months. My portfolio crossed through a big number threshold, and kept going up. The market stats don’t quite tell the whole story. On a constant currency basis, markets rose 2.8%. Non-UK currencies (AUD, EUR, USD) rose...
Apple has a new CEO. Now comes the hard part. September is here, and there’s actually quite a bit going on.
1st Sep 2026
2

Apple has a new CEO. Now comes the hard part.

from Mazdak [alt+shift+b] in finance

1st Sep 2026
September is here, and there’s actually quite a bit going on.
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
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...
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.
Fiction and Finance Recommendations of works of fiction of interest to financial practitioners or enthusiasts.
7th Oct 2024
122

Fiction and Finance

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

7th Oct 2024
Recommendations of works of fiction of interest to financial practitioners or enthusiasts.
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
9th Feb 2026
Public software companies just had one of their worst weeks in years—and the market reaction was swift, brutal, and emotional.
The Network State Conference Come to Singapore on September 22, 2024 to build technodemocracy.
15th Oct 2023
4

The Network State Conference

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

15th Oct 2023
Come to Singapore on September 22, 2024 to build technodemocracy.
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.
The Power of Expectations: Nvidia's Earnings and the Market Reaction! Last Wednesday (August 28), the market waited with bated breath for Nvidia’s earning call, scheduled...
6th Sep 2024
30

The Power of Expectations: Nvidia's Earnings and the Market Reaction!

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

6th Sep 2024
Last Wednesday (August 28), the market waited with bated breath for Nvidia’s earning call, scheduled for after the market closed. That call, at first sight, contained exceptionally good news, with revenues and earnings coming in at stratospheric levels, and above expectations,...
The Winner’s Edge A lot of otherwise talented people are too pessimistic to actually do anything. They are paralyzed...
19th Apr 2023
183

The Winner’s Edge

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

19th Apr 2023
A lot of otherwise talented people are too pessimistic to actually do anything. They are paralyzed by risks that don’t exist and greatly exaggerate them where they do, preventing them from being one of the best. Consider this lightly edited excerpt from a conversation between...
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.
Dec ’25: 2025 in review It’s over. The year of 2025, the thirteenth year I’ve been systematically tracking my investment...
19th Jan 2026
1

Dec ’25: 2025 in review

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

19th Jan 2026
It’s over. The year of 2025, the thirteenth year I’ve been systematically tracking my investment portfolio every month, is over. One of the reasons I blog is to track my performance with a bit more discipline and rigour than I might manage otherwise. And part of that process is...
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...
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
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...
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
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...
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...
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.
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.
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...
The Situational Awareness Blow-up: The Collateral Damage from Investing Conviction! Earlier this year, I was asked what I thought about Leopold Aschenbrenner and I admitted that I knew...
11th Aug 2026
1
11th Aug 2026
Earlier this year, I was asked what I thought about Leopold Aschenbrenner and I admitted that I knew little about him other than what I had read about him, more in social media, than in the press - that he was a 25-year-old wunderkind who had started at OpenAI but had left to...
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
9th Sep 2025
Apple’s latest keynote delivered a sweeping set of updates across AirPods, iPhones, and the Apple Watch lineup.
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
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...
Setting Up For The Second Half of 2024 A new set of cases for two concept sequences, and the end of the Data Driven Series.
19th May 2024
178

Setting Up For The Second Half of 2024

from Commoncog [alt+shift+b] in finance

19th May 2024
A new set of cases for two concept sequences, and the end of the Data Driven Series.
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...
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...
Goodhart's Law Isn't as Useful as You Might Think Goodhart's Law is useless. It tells you about a phenomenon, but it doesn't tell you how to solve it....
11th Jan 2023
120

Goodhart's Law Isn't as Useful as You Might Think

from Commoncog [alt+shift+b] in finance

11th Jan 2023
Goodhart's Law is useless. It tells you about a phenomenon, but it doesn't tell you how to solve it. We look at how organisations actually prevent Goodhart's Law, and illustrate this with Amazon's Weekly Business Review as an example.
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...
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.
Older Articles I’ve Written In reverse chronological order: Starting a Physical Product Company? You’re Gonna Need a Lawyer...
13th Dec 2020
25

Older Articles I’ve Written

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

13th Dec 2020
In reverse chronological order: Starting a Physical Product Company? You’re Gonna Need a Lawyer (October 18, 2020) The Right to a Nonconsensus Opinion (June 9, 2020) Never Invest in Anything Made of Metal (May 2, 2020) Simple 3 Step Strategy to Stop the Coronavirus in the...
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.
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.
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...
Setelinleikkaus: When Finns snipped their cash in half to curb inflation On the last day of 1945, with World War II finally behind it, Finland's government announced a new...
8th Nov 2024
29
8th Nov 2024
On the last day of 1945, with World War II finally behind it, Finland's government announced a new and very strange policy. All Finns were required to take out a pair of scissors and snip their banknotes in half. This was known in Finland as setelinleikkaus, or banknote cutting....
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...
Sep ’24: Ominous politics, juicy economics September was fairly action-packed. I enjoyed getting out on a friend’s boat around Poole and the...
13th Oct 2024
98

Sep ’24: Ominous politics, juicy economics

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

13th Oct 2024
September was fairly action-packed. I enjoyed getting out on a friend’s boat around Poole and the Solent. I made it to the Labour party conference in Liverpool, which was fascinating albeit wet. I am apparently firmly in the tax-raising sights of the Government, but I wasn’t the...
The Long Shadow of Checks A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the...
13th Dec 2023
127

The Long Shadow of Checks

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

13th Dec 2023
A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the U.S.
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...
What do LLMs Want? Plus! Governance; Implementation Risk; Jailbreaking; In-Kind Deals; Revalued Inputs
1st Dec 2025
1

What do LLMs Want?

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

1st Dec 2025
Plus! Governance; Implementation Risk; Jailbreaking; In-Kind Deals; Revalued Inputs
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…...
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...
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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