Category: Philosophical Musings

The Strategic Game of ? and ? – John Boyd, June 1987

“Value” has a number of different components all tied at the hip. Internally, we simplify by mentally handicapping companies as either “Buffets or Grahams” based

Our favorite new acronym (within an industry that has far too many) is “TINA”. TINA is not the name of a person or object. It

While I will cop to a mildly obnoxious habit of introducing references that almost always require an internet search, I also will start this year

In a prolonged anti-value momentum-driven rally, it’s easy and natural to forget the long-term value proposition of a rebalancing discipline. The evidence and intuition underlying

Under the heading of things that just can’t last, today’s topic is venture capital firms continuing to invest in technology companies that consistently lose an

It may surprise you to hear that we sincerely believe there are aspects of the investment management industry that are truly unique. Before you start

You Can’t Be a Wimp — Make the Tough Calls — Harvard Business Review

Source: The Wall Street Journal

I certainly have no interest in trying to call the top of any market cycle. No one has the ability to do that consistently. And