The Digest #217
Berkshire Hathaway Acquires BHE Minority Interests, Measuring Competence, Greg Abel Interview, The Fed's Inflationary Bias, Jimmy Carter at 100, Sam Altman, Bruno Leoni, Thermopylae ...
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 #210
Disinflation vs. Deflation, Zooming Out, Warren Buffett's Apple Sales, Teens without Smartphones, Adam Wright, Joel Greenblatt, Robert Kierlin, Bruce Berkowitz, Jeremy Grantham ...
The Digest #197
Interest rates, Passive investing, Ben Graham as a young man, Daniel Kahneman, Ken Langone, Lawrence Cunningham, Reed Hastings, Steve Eisman ...
Inflation Expectations
There's no reason for anyone to care what I think about inflation, but readers should pay close attention to Warren Buffett's statements and actions ...
The Digest #188
Manufacturing time, Apple Vision Pro, Access journalism, Henry Ford's $5/hr wage, Sharing investment ideas, Insurance brokerages, Katalin Karikó’s autobiography, John Randolph of Roanoke ...
Death, Taxes, and Inflation
The ocean of debt needed to fund the federal government is likely to be monetized by the Federal Reserve resulting in a high structural level of inflation for decades to come ...
The Fall of Silicon Valley Bank
A classic run on the bank exposes harsh realities hiding in plain sight. How will regulators and policymakers react to fears of contagion? ...
The Digest #133
Rational Inattention Theory, Carbon Capture Technology, Disney's Amazing Moat, Envy, Austin, Stoicism, George Zimmer Interview ...
The Digest #128
Truth and Lies, Recession or Hovering?, Forward Guidance, Howard Marks, TransDigm, Tumi & Roam Luggage, Jeremy Grantham ...
The Digest #124
Title Insurance, Damodaran on Risk, Leverage at Pension Funds, Money and Status, Nostalgia ...
Enduring Inflation
Recent research suggests that inflation, adjusted for methodology changes, is getting close to the peak of the early 1980s, casting doubt on the sufficiency of the Fed's response ...
The High Cost of Poverty
Politicians and economists seem baffled by low consumer confidence in the midst of low unemployment. One explanation is that rampant inflation is hammering the poor ...
The Digest #101
Charlie Munger, Carl Icahn, Venture Capital, Valuable Razors, The "Hawkish" Fed, Guaranteed Misery, Washington's Farewell Address ...
The Lords of Easy Money
Christopher Leonard's book examines the history, controversies, and internal dissent surrounding the Federal Reserve's increasingly unconventional monetary policy during the 2010s ...
The Digest #96
Digital Cash, Berkshire's Annual Meeting, Productivity Traps, Taleb on Vaccines, Peloton ...
The Digest #89
Meme Stocks, Fed Policy, Twitter's Business Model, Nuclear Fusion, Calpers ...
Money Illusion as a Policy Objective
"You know, if baseball umpires were on the front page of the sports section every week, you'd know something was desperately wrong with the game." — Jim Grant referring to central bankers Scandals that dominate headlines typically involve obvious ethical ...
The Digest #86
The Fed's Epistemic Arrogance, A World Without Yield, 10-K Diver on Dividends ...
Pounds of Salt: The Fed’s Epistemic Arrogance
The Federal Reserve's recent decisions have demonstrated epistemic arrogance and magnified risk by failing to properly acknowledge the inherent limits of their power ...