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Bits about Money
The business of check cashing Check cashing, as a business, is a poorly understood "alternative" financial service.
a year ago
balajis.com
The Men's Party Republicans are becoming the party of strong men and the women that love them.
a year ago
Musings on Markets
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,...
a year ago
19
a year ago
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...
Commoncog
Becoming Data Driven, From First Principles People often say things like "become data driven" without explaining what that means or how to do...
a year ago
155
a year ago
People often say things like "become data driven" without explaining what that means or how to do it. This is everything you need to know to actually become data driven, from scratch, using the same first principles that Amazon, Koch, and Toyota used back in their day.
The Rational Walk
Endurance The amazing story of Shackleton's legendary voyage to the Antarctic and how his 28 men survived...
a year ago
106
a year ago
The amazing story of Shackleton's legendary voyage to the Antarctic and how his 28 men survived shipwreck, ice floes, and constant danger.
FIRE v London
In praise of Berkshire Hathaway I think I first clocked Warren Buffett’s (and Charlie Munger RIP’s) Berkshire Hathaway around the...
a year ago
149
a year ago
I think I first clocked Warren Buffett’s (and Charlie Munger RIP’s) Berkshire Hathaway around the year 2000. I loved the story. Starting from, as the story was told back then, humble beginnings and a paper round, Warren Buffett (and Charlie – who I will stop mentioning but...
The Rational Walk
The Digest #186 Macintosh at 40, Coffee Can Investing, Haslams on Pilot, Vision Pro's missing apps, Investment...
a year ago
106
a year ago
Macintosh at 40, Coffee Can Investing, Haslams on Pilot, Vision Pro's missing apps, Investment checklists, Shane Parrish interviews Tom Gayner, Novo Nordisk, Howard Marks on interest rates
balajis.com
Prompts are Tiny Programs And prompt engineering is a subset of software engineering.
a year ago
Mazdak
How Long (and Why) You Must Keep Every Business Record 🇨🇦 Every business, from the corner store to the tech giant, needs to keep accurate and reliable...
a year ago
72
a year ago
Every business, from the corner store to the tech giant, needs to keep accurate and reliable records. This isn't just about staying organized; it's about complying with the law, managing your finances, and protecting yourself from audits. But with so many rules and regulations,...
Citation Needed
Issue 49 – And so the Lord says "give them a 10x" Bitcoin ETP approval, God-sent crypto scammers, and more trouble in Justin Sun's world.
a year ago
Mazdak
Choosing the Optimal Legal Structure for Your Small Business 🇨🇦 Launching a small business is a thrilling entrepreneurial adventure, but selecting the appropriate...
a year ago
130
a year ago
Launching a small business is a thrilling entrepreneurial adventure, but selecting the appropriate legal framework can feel like traversing a complex maze. This guide sheds light on the merits and drawbacks of the three primary options: sole proprietorship, partnership, and...
The Rational Walk
The Digest #185 Capital Allocation, Progressive's strategy, Reading plans, Damodaran's free courses, Looking back at...
a year ago
79
a year ago
Capital Allocation, Progressive's strategy, Reading plans, Damodaran's free courses, Looking back at Alibaba's IPO, Chris Davis, Outsider CEOs, Shareholder activists, Oprah
Citation Needed
Video: The charges against Binance In December, not long after the Department of Justice announced charges against cryptocurrency giant...
a year ago
113
a year ago
In December, not long after the Department of Justice announced charges against cryptocurrency giant Binance and its CEO Changpeng "CZ" Zhao, I started writing up an overview of everything that had happened to the company over the past few years. I'd written separately about a...
Mazdak
Renting vs. Buying in Canada's Skyrocketing Market: Is Homeownership Still a Golden Ticket? The Great Canadian Housing Dilemma: Soaring prices and sky-high interest rates have transformed the...
a year ago
109
a year ago
The Great Canadian Housing Dilemma: Soaring prices and sky-high interest rates have transformed the dream of homeownership into a distant mirage for many Canadians. But before you resign yourself to renting forever, consider this: owning a home may not be the guaranteed...
Citation Needed
Migrating from Substack to self-hosted Ghost: the details I migrated Citation Needed from Substack to self-hosted Ghost. Here is exactly how I did that.
a year ago
The Rational Walk
Free Articles! All articles older than six months are now free to read.
a year ago
Mazdak
A Guide to 2024 Tax Brackets and Rates (Canada 🇨🇦) Tax season can be a daunting journey, with its intricate paths and hidden obstacles. For Canadian...
a year ago
96
a year ago
Tax season can be a daunting journey, with its intricate paths and hidden obstacles. For Canadian taxpayers, understanding the tax code and optimizing their financial position requires careful planning and informed decisions. This comprehensive guide equips you with the knowledge...
balajis.com
The Bitcoin ETF is the spiritual reversal of Executive Order 6102 Back in 1935, they seized the gold. But now, digital gold is back.
a year ago
The Rational Walk
The Digest #184 Ed Thorp: A Man for All Markets, Howard Marks on easy money, Active patience, Activist investing,...
a year ago
101
a year ago
Ed Thorp: A Man for All Markets, Howard Marks on easy money, Active patience, Activist investing, Damodaran's 2024 data update, Michael Ovitz, Live Oak, Red Bull, Capital allocation
Mazdak
A Guide to 2023-24 Tax Brackets and Rates (US) Tax time can be intimidating, but understanding how your income gets taxed is key to financial...
a year ago
133
a year ago
Tax time can be intimidating, but understanding how your income gets taxed is key to financial savvy. Let's crack open the code with a deep dive into the 2023-24 tax brackets and rates! Imagine your taxable income as climbing a ladder. Each rung represents a tax bracket, and as...
Citation Needed
Issue 48 – Bitcoin has "no chance" of going to the moon Bitcoin ETF fakeouts, imaginary CEOs, and a bridge hack make for an eventful start to the new year.
a year ago
Mazdak
The AI Arms Race: A Billion-Dollar Battle for the Future of Intelligence It's not just about building the next big app anymore. In the heart of Silicon Valley, a new arms...
a year ago
110
a year ago
It's not just about building the next big app anymore. In the heart of Silicon Valley, a new arms race is heating up, and the stakes couldn't be higher. This isn't a battle fought with tanks and missiles, but with lines of code and the raw processing power of artificial...
Commoncog
A Most Unlikely Master of Capital Allocation If the most unlikely, most un-businesslike person could become a masterful capital allocator late in...
a year ago
87
a year ago
If the most unlikely, most un-businesslike person could become a masterful capital allocator late in her life, then perhaps you could, too.
Citation Needed
Citation Needed has a new home Citation Needed is no longer hosted on Substack. Welcome to my antifascist bar.
a year ago
Commoncog
The 2023 Commoncog Recap Everything that we covered in 2023, and what to expect now that Commoncog has a new direction.
a year ago
The Rational Walk
The Digest #183 Daily Journal, Apple, Costco, Moody's, Munger's wisdom, Tesla's narratives, Tim Urban on writing,...
a year ago
72
a year ago
Daily Journal, Apple, Costco, Moody's, Munger's wisdom, Tesla's narratives, Tim Urban on writing, Rivian, AI's morality, AI bubble?, How James Longstreet defied the South after the war
Mazdak
2024 Tax Strategies for Optimization and Savings The new year dawns, not just with fresh resolutions, but also the opportunity to reassess and...
a year ago
119
a year ago
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...
FIRE v London
Dec ’23 – 2023 in review It’s the start of a calendar year. Let’s take a look at what 2023 did to me financially. I’m...
a year ago
122
a year ago
It’s the start of a calendar year. Let’s take a look at what 2023 did to me financially. I’m following the same structure I’ve used for the last few years (2022, 2021, and 2020). Overall, 2023 was a good year on almost all measures – thanks in particular to Q4 which saw the US...
The Rational Walk
A Seamless Web of Deserved Trust Trust is earned over many years. Seamless trust requires decades.
a year ago
Mazdak
The Elon Musk Empire In the annals of American history, few individuals have wielded influence over such diverse and...
a year ago
102
a year ago
In the annals of American history, few individuals have wielded influence over such diverse and critical industries as Elon Musk. His companies, spanning transportation, communication, artificial intelligence, and space exploration, stand as testaments to his audacious vision and...
Seeking Wisdom
Attention is all you need – Part 2 This is the 11th and final post in my series on building a toy GPT. Read my earlier posts first for...
a year ago
115
a year ago
This is the 11th and final post in my series on building a toy GPT. Read my earlier posts first for better understanding. I concluded the previous post by explaining how Attention works. You can download the Excel sheet and Python code that explains how Attention from here and...
Mazdak
2024: A Roadmap for AI's Next Big Step 2023 was a whirlwind year for artificial intelligence (AI). ChatGPT wowed us with its ability to...
a year ago
108
a year ago
2023 was a whirlwind year for artificial intelligence (AI). ChatGPT wowed us with its ability to generate human-quality text, while chipmaker Nvidia pushed the boundaries of what's possible with graphics processing units (GPUs). But amidst the hype, there were also concerns about...
Citation Needed
Issue 47 – Residual garbage All my "absolute top tier apes" gone, anti-rug-pull rug pulls, and an update on this newsletter.
a year ago
The Rational Walk
The Digest #182 Passive Investing, Low Trust Societies, Greg Abel in the spotlight, Capital allocation at Berkshire,...
a year ago
74
a year ago
Passive Investing, Low Trust Societies, Greg Abel in the spotlight, Capital allocation at Berkshire, Better habits for 2024, Amusing CPA stories, Ben Graham, Charlie Munger, Pernod Ricard
Seeking Wisdom
Attention is all you need – Part 1 This is the 10th post in my series on building a toy GPT. Read my earlier posts first for better...
a year ago
170
a year ago
This is the 10th post in my series on building a toy GPT. Read my earlier posts first for better understanding. I asked ChatGPT to complete the sentence given the phrase: “I chose that bank for”. It completed the sentences sensibly. Here are the four sentences it generated: In...
Mazdak
Yelp's Transformation: From Review Revolution to Advertising Efficiency Yelp, the online review platform that revolutionized local business discovery, has undergone a...
a year ago
76
a year ago
Yelp, the online review platform that revolutionized local business discovery, has undergone a remarkable transformation in recent years. Shifting from a sales-driven model to a self-service advertising engine, Yelp has achieved significant efficiency gains and revitalized its...
The Rational Walk
What I’ve Been Reading Thoughts on the books I read in Q4 2023
a year ago
Mazdak
Canada's Retail Pulse: Holiday Shopping Season Navigates Mixed Signals Canada's retail landscape is offering a mixed bag of signals heading into the critical holiday...
a year ago
72
a year ago
Canada's retail landscape is offering a mixed bag of signals heading into the critical holiday season. While October saw a surprising 0.7% increase in retail sales, exceeding economist expectations, concerns linger about the sustainability of this trend in the face of rising...
Bits about Money
Payroll providers, Power, Respect Payroll processors exist to provide financial infrastructure and because political economy is...
a year ago
Mazdak
2024: The Year the Economy Wins? As we turn the page to 2024, we're met with a cautiously optimistic economic forecast, suggesting a...
a year ago
94
a year ago
As we turn the page to 2024, we're met with a cautiously optimistic economic forecast, suggesting a potential shift towards a more balanced and stable environment. While challenges and uncertainties remain, let's explore the key trends and strategic insights that can guide us...
FIRE v London
Becoming an ISA $millionaire This time last year I wrote that my annual ISA update was many months late. I had delayed it until...
a year ago
94
a year ago
This time last year I wrote that my annual ISA update was many months late. I had delayed it until using my full annual ISA allowance(s), which took me much longer than usual last year. This year I actually completed my ISA topups in April, within a few weeks of the start of the...
The Rational Walk
The Digest #181 Antisemitism in America, Charlie Munger's uncommon sense, Les Schwab's business philosophy, Niccolò...
a year ago
62
a year ago
Antisemitism in America, Charlie Munger's uncommon sense, Les Schwab's business philosophy, Niccolò Machiavelli, internal vs. external goals, Safe withdrawal rates, Protecting your time
Mazdak
Adobe Scraps $20 Billion Figma Deal Adobe's blockbuster $20 billion bid for Figma, the web-based design darling, is officially off the...
a year ago
100
a year ago
Adobe's blockbuster $20 billion bid for Figma, the web-based design darling, is officially off the table! This dramatic pivot throws a spotlight on the tightening grip of global regulators on tech mergers, leaving investors and industry players to wonder:
The Rational Walk
New Articles Moving to Newsletter Effective today, I will no longer post new articles to this website, rationalwalk.com. All new...
a year ago
68
a year ago
Effective today, I will no longer post new articles to this website, rationalwalk.com. All new articles will be posted on my Substack at newsletter.rationalwalk.com.
Citation Needed
Substackers Against Nazis A collective letter to Substack leadership.
a year ago
Mazdak
A Brighter Outlook for Home Buyers in 2024? The Federal Reserve's recent announcement of potential interest rate cuts in 2024 has sent ripples...
a year ago
103
a year ago
The Federal Reserve's recent announcement of potential interest rate cuts in 2024 has sent ripples through the housing market, sparking both excitement and cautious optimism among prospective buyers and existing homeowners alike. While the prospect of lower mortgage rates is...
The Rational Walk
Concentrated Investments Many Berkshire Hathaway shareholders have a very large percentage of their net worth invested in the...
a year ago
66
a year ago
Many Berkshire Hathaway shareholders have a very large percentage of their net worth invested in the company. What are the risks of concentrated investments in general and Berkshire in particular?
Mazdak
A Look at the Struggling Office Sector in the US The Covid-19 pandemic may be largely in the rearview mirror, but there is at least one area of the...
a year ago
111
a year ago
The Covid-19 pandemic may be largely in the rearview mirror, but there is at least one area of the economy that remains ill: the office sector of the U.S. commercial real-estate market. ** What's the Problem?** Hybrid/remote work: What began as a two-week work-from-home...
Bits about Money
The Long Shadow of Checks A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the...
a year ago
Mazdak
Apple & Google Face Mounting Threats to $500 Billion Market The $500 billion app store market, which has been a cash cow for Apple and Google for years, is...
a year ago
75
a year ago
The $500 billion app store market, which has been a cash cow for Apple and Google for years, is facing a growing number of threats. A recent court ruling against Google and new regulations in Europe and Asia could force the two tech giants to open up their app stores to more...