Instant Feedback January 26, 2023 Using a continuous glucose monitor for two weeks made me think about the pros and cons of instant feedback in life and in markets.
Earning Wisdom January 17, 2023 Passive consumption of information is not enough to earn true wisdom. Leo Tolstoy advocated serious efforts to leverage what we learn from others. There are no shortcuts.
Flights of Fancy January 13, 2023 The dream of flying like birds has captivated human beings for thousands of years. In his new book, Richard Dawkins provides a fascinating account of the history of flight.
Damn Right! — Behind the Scenes with Charlie Munger January 1, 2023 A book review of Damn Right! — Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, published on Munger's 99th birthday.
The Year in Review December 26, 2022 This article contains links to the top twenty articles of 2022 and discusses plans for the future of the Rational Reflections newsletter.
What I’ve Been Reading December 23, 2022 This post is a list of books that I read in the fourth quarter of 2022, most notably The Price of Time by Edward Chancellor and The Idiot by Fyodor Dostoevsky.
The Case for Splitting Berkshire’s Class A Shares November 21, 2022 A stock split would have no effect on a Berkshire's intrinsic value, but could keep super-voting Class A shares in the hands of longtime shareholders.
Exemplars November 17, 2022 “If you rise high in a corporation or elsewhere in life, you have a duty to be an exemplar. You have a duty to take less than you deserve, to set an example.”
— Charlie Munger
The Role of Luck November 13, 2022 Never forget Lady Fortuna's influence: Good decisions can turn out poorly due to bad luck, and it is equally possible for terrible decisions to work out well due to good luck.
A Closer Look at Berkshire Hathaway’s Operating Income November 7, 2022 Berkshire Hathaway reported third quarter results on November 5, 2022. This article examines recent trends in the company's net operating income.
Ben Graham’s View of Unpopular Large Companies November 4, 2022 Ben Graham’s investing style was not one dimensional. In addition to bargain issues and special situations, Graham suggested relatively unpopular large companies as a source of ideas.
Thoughts on Monetizing Twitter October 31, 2022 Twitter should consider implementing a charge for account verification that is based on number of followers. Verification is likely to be much more valuable for large accounts with greater ability and willingness to pay.
Observations of a New Costco Member October 18, 2022 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.
The Story of FedMart October 12, 2022 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 October 7, 2022 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.