- Warren Buffett on Inflation — Part 2
Inflation took the auto insurance industry by surprise in the 1970s, impacting Berkshire's auto insurance business as well as nearly bankrupting GEICO.
- There’s Always a Reason
Enduring business models in competitive industries exist for good reasons. Dollar stores provide an important option for customers chronically short on cash.
- The Digest #165
Buffett on Inflation, Dollar General, Due Diligence, Personal Libraries, The role of AI in drug discovery, Small-cap opportunities, and interviews of Peter Brown, Bill Gross, Chris Bloomstran.
- Warren Buffett on Inflation — Part 1
This article presents lessons learned regarding investing in bonds based on Warren Buffett's commentary in his final partnership letters written in 1969 and 1970.
- The Power of Investment Journals
Writing down the rationale for investment decisions is a prerequisite for success. This articles explores lessons I learned dating back to 2009.
- The Digest #164
Howard Marks on intelligent risks, Li Lu's amazing life story, Damodaran on streaming, Thompson on Charter vs. Disney, Taleb's favorite literary works, Buffett's Japanese investments, and more ...
- The Sad Irons
During the depths of the Great Depression, Lyndon Johnson was determined to electrify the Texas Hill Country. Success was integral to his path to greater power.
- Negative Lollapalooza Effects
Sharing ideas can have benefits but there are also psychological risks. This article applies lessons from Charlie Munger's psychology of human misjudgment to investing.
- The Digest #163
Corporate taxes, Berkshire's clean energy investments, Isaacson's biography of Elon Musk, ESPN's future, Nvidia, AI, Interpreting medical studies, Why Doomberg left Twitter, Jimmy Buffett, and more...
- Dollar General: Value or Value Trap?
I spent Labor Day weekend reading about this beaten down retailer. This article provides some initial thoughts about the company as well as the overall retail landscape.
- The Digest #162
Volcker on inflation, Parametric insurance, The futility of guidance, Corporate governance reform, Keeping a notebook, Singleton and Teledyne, The pros and cons of cancer screening
- Warren Buffett’s Canvas
Berkshire Hathaway continues to evolve as Warren Buffett celebrates his 93rd birthday with no signs of putting down his paintbrush anytime soon.
- The Digest #161
Feynman on knowledge, TransDigm's controversial business model, Costco's history, The Ozempic/Wegovy band-aid; Plus insights from Todd Combs, Michael Burry, Joel Tillinghast, and Lee Ainslie.
- Insurance Loss Reserve Estimates
The ability to accurately estimate loss reserves is a core competency for any well-run insurance company. Progressive provides a useful case study in loss reserving practices.
- The Digest #160
Steve Jobs in his own words, Risk free rates, Saving for a home, Buffett's investments in Japan, Flawed memories, Podcast interviews with Rudy Havenstein, Doomberg, Paul Graham, and Guy Spier.