- Different Types of Mistakes
Overpaying for an investment is undesirable but time can heal many wounds if the underlying business continues to perform well.
- Managing Decline
Psychological and social factors serve as complications for investors seeking to invest in declining companies, often referred to as "cigar butts".
- Information Wants To Be Free
All paywalls on The Rational Walk have been removed. This article is a listing of twelve recent comprehensive company write-ups available for download.
- In Search of the Buffett Premium
Some thoughts on Berkshire Hathaway's long term future twelve years after writing a comprehensive report on the company.
- Instant Feedback
Using a continuous glucose monitor for two weeks made me think about the pros and cons of instant feedback in life and in markets.
- Daily Journal Corporation
Charlie Munger is determined to complete the transformation of a small newspaper publisher into a significant software company
- Earning Wisdom
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
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.
- Tyler Technologies
Tyler Technologies is one of the leading companies offering software and related services for public sector entities in the United States.
- Damn Right! — Behind the Scenes with Charlie Munger
A book review of Damn Right! — Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger, published on Munger's 99th birthday.
- Journal Technologies
Charlie Munger's bet on enterprise software for court systems has been overshadowed by Daily Journal's investment portfolio. The software business deserves more attention.
- The Year in Review
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
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 Progressive Corporation
This profile examines the third largest private passenger auto insurer in the United States with a focus on its rivalry with Berkshire Hathaway's GEICO subsidiary.
- Fastenal Company
This profile examines a leading industrial distributor with a multi-decade record of strong performance.