Without a baseline level of trust, society will cease to function effectively. How can we decide how trusting to be without exposing ourselves to excessive risk? ...

Much of what we do as investors involves studying businesses and critically evaluating the returns that are likely based on management's competitive strategy. The elusive search for true "moats" is often frustrated by quick technological change which can make yesterday's ...

Many readers will relate to this scenario: The printer is hard at work producing a 100+ page SEC Filing when the room becomes strangely silent. Surely not enough time has passed to signal a completion of the job? Sure enough, ...