I recently became a Costco member as part of my research on the company. In this article, I discuss how I easily recouped the $60 annual membership fee on my first visit.
Weekly Digest – October 14, 2022
Friday, October 14, 2022Volume 3, Issue 50 Quote of the Week “In the short term, [inflation] is good for borrowers and not for lenders. Once a lender begins anticipating it, that equation changes, because he’s going to say, ‘I expect inflation,
The Story of FedMart
Sol Price founded FedMart in 1954 and pioneered the concepts that still drive the business model of membership-based discount warehouses such as Costco to this day.
Greg Abel’s Bet on Berkshire Hathaway
Greg Abel has purchased 168 Class A shares of Berkshire Hathaway for $68.3 million. This article takes a look at Mr. Abel’s decision in the context of his future role as CEO.
Weekly Digest – October 7, 2022
Friday, October 7, 2022Volume 3, Issue 49 Quote of the Week “Remember that it is not he who gives abuse or blows, who affronts, but the view we take of these things as insulting. When, therefore, anyone provokes you, be assured
Lies and Deception
Interacting with someone who lies is hazardous, whether in personal or business life. What can we learn about dealing with liars from 16th century philosopher Michel de Montaigne?
Weekly Digest – September 30, 2022
Friday, September 30, 2022Volume 3, Issue 48 Quote of the Week “To lie deliberately is to blaspheme — the liar commits deceit, and thus injustice. And likewise to lie without realizing it. Because the involuntary liar disrupts the harmony of nature
What I’ve Been Reading

This post is a list of books that I read in the third quarter of 2022, most notably The Last Warrior, a biography of Andrew Marshall and The Deficit Myth by Stephanie Kelton.
Union Pacific Corporation
Operating efficiency gains and aggressive repurchases have delivered attractive returns to shareholders over the past decade. Will these trends continue?
Weekly Digest – September 23, 2022
Friday, September 23, 2022Volume 3, Issue 47 Quote of the Week “There are certain undertakings, moreover, that are not so much great as they are prolific, and thus lead to many fresh undertakings. Not only ought you to avoid those that
Railroader: The Unfiltered Genius of Hunter Harrison

The larger-than-life figure of Hunter Harrison is impossible to avoid for anyone who follows the railroad industry. Railroader is an interesting book about a fascinating man.
America’s Car-Mart: Business Update
Car-Mart stock has dropped 45% since quarterly earnings were released a month ago. Is the business model still intact or has Mr. Market overreacted?
Weekly Digest – September 16, 2022
Friday, September 16, 2022Volume 3, Issue 46 The Futility of Forecasting “Even if you somehow manage to get an economic forecast correct, that’s only half the battle. You still need to anticipate how that economic activity will translate into a market
The Value of Hard Work
Recent “quiet quitting” headlines mostly represent click-bait, but the decline in social mores regarding work ethic still have negative implications.
Weekly Digest – September 9, 2022
Friday, September 9, 2022Volume 3, Issue 45 Quote of the Week “It is my opinion that in almost any field nothing is worth doing unless it is worth doing right. When it comes to selecting growth stocks, the rewards for proper
George Risk Industries
A small manufacturer is massively overcapitalized but controlled by the founder’s family. Shareholders are welcome to go along for the ride but may never see a catalyst.
Weekly Digest – September 2, 2022
Friday, September 2, 2022Volume 3, Issue 44 Quote of the Week “Corporations, like people, change their names for one of two reasons: either they’ve gotten married, or they’ve been involved in some fiasco that they hope the public will forget.” —
Dempster Mill Manufacturing Company
Dempster Mill Manufacturing Company, one of Warren Buffett’s early investments, was very profitable but profoundly influenced his approach to turnaround situations.