Without a certain level of trust, our modern civilization would soon disintegrate into total chaos. This article takes a brief look at the role of trust in three acquisitions.
Overcoming Initial Resistance
Even if you enjoy an activity once you are engaged in it, the first few steps can be uncomfortable. Fortunately, there are strategies that can help us get started.
Wealth Clarifies
Not being in control of your time seems like a bad thing, but this lack of control provides people with a compelling narrative to avoid doing things that they would rather not do.
Selecting Companies to Research
Timeframe arbitrage is arguably the last major source of potential advantage for individual investors. If this is true, how can individuals best structure their research process?
What I’ve Been Reading
This post is a list of books that I read in the second quarter of 2022, most notably two classic titles by Fyodor Dostoevsky: Crime and Punishment and The Brothers Karamazov
Title Insurance
This article provides a description of the title insurance industry. Most homebuyers must purchase title insurance but the product is not well understood.
Soul in the Game: The Art of a Meaningful Life
Soul in the Game is a difficult book to categorize. Is it a memoir? A book on stoicism? A book on classical music? It is none of these things in isolation, but all of these things in combination.
Throwing Sand in the Gears
Sometimes, it is a good idea to purposely “throw sand in the gears” in order to force yourself to slow down during bear markets. This is necessary to avoid mistakes.
Buffett’s Philanthropic Record
Examining seventeen years of Warren Buffett’s donations to five foundations In 2006, Warren Buffett pledged to distribute all of his Berkshire Hathaway stock, representing over 99% of his net worth, to philanthropy. Rather than setting up his own foundation, Mr.
Enduring Inflation
Recent research suggests that inflation, adjusted for methodology changes, is getting close to the peak of the early 1980s, casting doubt on the sufficiency of the Fed’s response.
The High Cost of Poverty
Politicians and economists seem baffled by low consumer confidence in the midst of low unemployment. One explanation is that rampant inflation is hammering the poor.
Irrational … Compared to What?
Consumer behavior can often seem crazy. But if a successful company is built around “irrational” behavior, chances are that you might be missing something important.
The Case for Mad Money
If reading Benjamin Graham represents “vaccination” against speculation, then having a small “mad money” account could be a form of “variolation”.
Shadow Banned
The Rational Walk is no longer on Twitter after thirteen years of using the platform. Readers should consider subscribing to Rational Reflections to receive new content.
Kidney Failure and the Dialysis Industry
This article is the first in a series about the dialysis industry. It was originally published on Rational Reflections, an email newsletter published by The Rational Walk.
The Benefits of Zooming Out
If you are a long-term investor, it is pointless to update the quotes for your portfolio on a daily basis. There is simply too much day-to-day noise to make this exercise meaningful.
How Berkshire Could Deploy $6 Billion
This post published in April 2022 discussed how Berkshire Hathaway might acquire minority interests in its energy subsidiary. In June 2022, Greg Abel’s 1% interest was acquired.
The Trouble with FIRE
Financial independence enabling early retirement is a worthy goal, but there are important considerations that are often ignored by the FIRE movement.