Igor and his Suit

There is a lecture by Ram Dass titled “Beyond Success” where he discusses a few concepts which may be of interest to readers of this blog, specifically his discussion of success and role entrapment. It’s a great lecture that I often send to friends who are in the middle of building companies because there comes …

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What Can We Learn From Amy Bockerstette?

A beautiful video demonstrating the power of attitude on outcomes. From the video’s description: ​During a practice round at the 2019 Waste Management Phoenix Open, defending champion Gary Woodland asks Amy Bockerstette from Special Olympics Arizona to play the infamous 16th hole at TPC Scottsdale. Amy recently became the first collegiate golfer to compete with …

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Warren Buffett’s 1959 Letter to Partners

Our study of Warren Buffett continues with his letter to the partners of the six partnerships of Buffett Partnership Limited reviewing the partnerships’ results for 1959. The letter begins, as usual, with an overview of the general market.  In 1959, the following notable world events happened: Fidel Castro assumed power in Cuba Soviet Premier Nikita …

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Hedge Fund Costs and Pricing

What drives costs up for hedge funds? 1. Legal and compliance costs – Hedge funds hire lawyers to assist them with the formation, management and compliance aspects of running the fund.  Depending on their size and state (or states) where the fund operates and has significant commercial activity, hedge funds could be required to report to …

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Historical Asset Returns

As I have observed the extreme volume of flows of capital into and out of the stock market over the last few years, I first thought about writing a post about market timing and why dollar cost averaging beats trying to time the market.  However, what began as a post about market timing changed to …

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Buffett on Inflation – 1983 Berkshire Hathaway shareholder letter

The following text comes from the Appendix to the 1983 Berkshire Hathaway Annual Letter.  While I was led to this text in search of a discussion on the difference between economic and accounting Goodwill, I stumbled upon an interesting discussion of, possibly, a different way to think about investing during inflationary times. ​Through the following …

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On Giving Advice

Ever since I was young, I’ve loved to read.  My reading has broadened over time, and sometimes I have 3-4 books that I’m working on at the same time.  I liken myself to a cow munching on grass all day.  There are downsides to this. ​The biggest downside to reading a lot of books (or …

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