What I’ve Been Reading
This post is a list of books that I read in the fourth quarter of 2024, including Euripides, The Stoic Emperor, The Intelligent Investor, The Trail, and more ...
The Digest #223
Corporate Taxes, Election Gambling in 1916, Berkshire's Cash, Treasury Inflation Protected Securities, Market Prices as Political Predictors, The Three Indias, Semiconductor Progress ...
Stepping into the River
Just like no man steps into the same river twice, reading a worthwhile book multiple times continues to yield new insights over the years ...
The Digest #219
Roth IRA Conversions, Net-Nets, Margin of Safety, SpaceX's Triumph, The Dystopia of Smartphones, Sam Zell, UK Bargains, Gregorys Coffee, Free Speech Under Assault, Dopamine and Addiction ...
The Digest #216
Trading Berkshire, The Theban Plays, The laws of economics, Fed fairy tales, Buffett's "retirement", Caro's writing process, Buffett's ground rules, Sherwin Williams, Mysterious owls ...
The Digest #211
Thucydides, Corporate life cycles, Ben Graham's first big win, Buffett's early lesson in activist investing, Perils of forecasting, Orwell's 1984, Guy Spier, Ben Thompson, Estée Lauder ...
The Digest #208
Biden's Withdrawal and Limits of Gaslighting, The CrowdStrike Crash, Munger and Franklin, Steve Jobs in 1983, Microsoft deep dive, Marks on risk, Luca Delanna on ergodicity, Guadalcanal ...
The Digest #205
Books I read in Q2, Buffett's estate plan, The magic of compounding, How to read a book, Portfolio rebalancing, Ben Graham in 1955, Sam Walton, LBJ, Robert Moses, The origins of language ...
The Digest #201
Daily Journal, The Oresteia, Elon's compensation, TSMC, Banks in disguise, Reading about stupidity, Zweig on Ben Graham's continued relevance, 3G Capital, Morgan Housel, Christopher Tsai ...
The Digest #194
Poor Charlie's Almanack, Ben Graham, GAAP accounting, John Templeton, AI dystopia, Inflation, Bloomstran on Berkshire, Intuitive Surgical, The lessons of history ...
The Digest #189
Fifteen years, Eisenhower's farewell, A tribute to Charlie Munger, A profile of Wang Chuanfu, Forty hours in the Vision Pro, Fairfax Financial, Parks America, Howard Marks, Danny Myer ...
The Digest #171
American Prometheus, Buffett buys more OXY, Share repurchases, Lessons from Todd Combs, The nature of risk, Damodaran on markets, Keynes on the Treaty of Versailles, Attia on longevity ...
The Berkshire Hathaway MBA
Studying Warren Buffett, Charlie Munger, and Berkshire Hathaway's history can provide a level of fluency in business and investing rivaling a costly MBA degree ...
The Digest #158
Claude Shannon's mighty mouse, Ben Graham's father, Doomberg quits Twitter, FASB segment disclosure rules, Podcasts on old annual reports, Henry Ford's road trips, Jony Ive, Sal Kahn ...
Managing Decline
Psychological and social factors serve as complications for investors seeking to invest in declining companies, often referred to as "cigar butts" ...
The Digest #144
Self-Discipline, Exemplars, Damodaran on Meta, Chancellor on CBDCs, Four Layers of Happiness, Chobani's founder, Ancient Entrepreneurs ...
The Role of Luck
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 ...
The Digest #142
Unpopular Large Companies, Meta Platforms, Activision, Peter Lynch, Taleb on Writing, Substack's Social Network, In-N-Out Burger ...
Ben Graham’s View of Unpopular Large Companies
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 ...
The Digest #97
Microsoft's Future, Ackman's Triumph, Benjamin Graham, Jon Stewart Interviews Thomas Hoenig ...