2022 |

Sep 11 |
The P/E Ratio |

Sep 04 |
Profits vs Cash |

Aug 28 |
Lindys vs Turkeys |

Aug 21 |
Why A Long Re-investment Runway Matters |

Aug 14 |
Saving vs Investing |

Aug 07 |
How Cash Flow Timing Impacts Shareholder Returns |

Jul 22 |
The Story Of Pi |

Jul 09 |
How Businesses Die |

Jun 28 |
The Trouble With Debt To Equity Ratios |

Jun 26 |
Luck vs Skill, Certainty vs Upside |

Jun 12 |
How Inflation Can Bring Down Business Returns |

May 27 |
My Favorite Charlie Munger Quote: Why Quality Trumps Price |

May 22 |
Protecting Ourselves From Inflation |

Apr 19 |
The US Tax Code Is Kind To Investors |

Apr 13 |
The Devil's Card Game |

Apr 03 |
Income Statements |

Mar 26 |
The Elements Of A Cockroach Portfolio |

Mar 20 |
The Economics Of Internet Newsletters |

Mar 06 |
The Art And Science Of Valuation |

Feb 26 |
Recurrence Equations |

Feb 05 |
Why And How To Read A Balance Sheet |

Feb 04 |
What Can Horse Racing Teach Us About Value Investing? |

Jan 22 |
The Magic Of Retained Earnings |

Jan 15 |
Key Concepts Related To Compounding And Exponential Growth |

Jan 08 |
The Volatility Tax |

Jan 01 |
New Year, Old Financial Independence Concepts |

2021 |

Dec 18 |
Return Ratios (ROA, ROE, ROIC, ROCE, etc.) |

Dec 11 |
Dividends vs Buybacks |

Dec 04 |
Conditional Probabilities, Survival, Lindys vs Turkeys |

Nov 20 |
Escape Velocity |

Nov 06 |
Portfolio Optimization, CAGR/IRR Maximization |

Oct 30 |
A Counter-Intuitive Thing About Share Buybacks |

Oct 23 |
Shannon's Demon |

Oct 12 |
Ed Thorp And His Statistical Arbitrage Insights |

Oct 09 |
Warren Buffett's Pinball Machine Empire |

Sep 25 |
Margin Of Safety When A Company Has Loads Of Debt |

Sep 18 |
The Right Way To Calculate Inflation-Adjusted Returns |

Sep 11 |
Capital Allocation Inside Businesses |

Sep 05 |
Investing Lessons From Claw Machines |

Aug 28 |
Asset Prices, Interest Rates, And Inflation |

Aug 14 |
Generating Functions |

Aug 07 |
Portfolio P/Es, Harmonic Means, And The Cauchy-Schwarz Inequality |

Aug 01 |
Thinking Multi-Dimensionally |

Jul 11 |
Counting Oranges |

Jul 04 |
Earnings vs Cash Flows |

Jun 27 |
Capital Turns And The Number e |

Jun 20 |
Dividends |

Jun 14 |
The Pitfalls Of Return On Equity (ROE) |

May 30 |
Charlie Munger's Key Insight |

May 22 |
Tax Deferred Compounding |

May 15 |
Standard Deviation, Mean Absolute Deviation, and Fat Tails |

May 08 |
Decision Fatigue |

Apr 24 |
The Basics Of Retirement Planning |

Apr 17 |
Markov Chains |

Apr 10 |
Leverage |

Apr 03 |
Volatility vs Risk |

Mar 27 |
Earnings Growth vs Return On Capital |

Mar 14 |
Lifestyle Creep |

Mar 06 |
Calculating A Fair Price For A Wonderful Business |

Feb 20 |
Towards Financial Independence: Setting Goals, Tracking Progress |

Feb 13 |
Correlated Bets |

Feb 06 |
Half Life |

Jan 30 |
Geometric Expectations |

Jan 23 |
Path Dependence |

Jan 16 |
Binomial Thinking |

Jan 09 |
The Birthday Paradox |

Jan 02 |
State vs Flow Quantities |

2020 |

Dec 26 |
Snowballs |

Dec 19 |
The Rule Of 72 |

Dec 12 |
Wonderful Businesses At Fair Prices vs Fair Businesses At Wonderful Prices |

Dec 05 |
Investing vs Speculation |

Nov 28 |
Investing & Inflation |

Nov 21 |
Stock Based Compensation |

Nov 14 |
Estimation Theory |

Nov 07 |
Tail Risks |

Oct 31 |
Same Store Sales |

Oct 24 |
Depreciation |

Oct 22 |
A Story About Warren Buffett's Grandfather |

Oct 17 |
The Pitfalls Of Averages |

Oct 10 |
Probability Distributions And Random Variables |

Oct 03 |
Game Theory And Nash Equilibria |

Sep 26 |
Look Through Earnings |

Sep 19 |
Geometric Sequences |

Sep 12 |
Understanding Inventory Turnover |

Sep 05 |
401(k)s, Rebalancing A Portfolio Between Stocks And Bonds |

Aug 29 |
Do You Need A Fund Manager? |

Aug 22 |
Why Warren Buffett Likes To Hold Stocks Forever |

Aug 15 |
How To Do A Reverse Discounted Cash Flow (Reverse DCF) Analysis |

Aug 08 |
How To Do A Discounted Cash Flow (DCF) Analysis |

Aug 01 |
Stock Splits |

Jul 25 |
How Much Money Do You Need To Retire? |

Jul 18 |
How To Do CAGR/IRR Calculations |

Jul 11 |
The Fundamentals Of Portfolio Diversification |

Jul 03 |
How Mortgages Work |

Jun 27 |
The Basics Of Options Trading |

Jun 20 |
LTV vs CAC |

Jun 13 |
Share Buybacks |

Jun 06 |
Owner Earnings |

May 31 |
Arithmetic vs Geometric Thinking |

May 26 |
Covid-19 Testing And Bayes' Rule |

May 24 |
The Kelly Criterion |