Among other random thoughts during the day in the office, one thinks about purpose, focus and motivation. And in case one’s mind wonders, a snippet
AI is new and interesting and thus it pays to skim widely to tentatively take at least mental positions on where it may or may
Dan and Verdad do a great job with data annunciating what I say in 2500 non-AI words. This “relative” problem started mid-May. “Companies with lottery-ticket,
I will admit to a little Scott Bessent man-crush from a purely intellectual standpoint. But I find this press release from the Treasury perturbing. Simply
Yes, this is what happens when you are stuck at airports. A few thousand years ago, this writer and portfolio manager had hair and wrote
A few thousand years ago, we were the largest shareholder in Tripos, an early attempt at pre-AI drug discovery tooling. We made a lot of
You are welcome. I just saved you from having to read Meltzer’s 3-volume set: The History of the Federal Reserve, which I am sure is
These two commentators – Nell Minow and Aswath Damodaran – sum up the topic as well as any. CSC says the following: It is interesting
Twenty Investment Lessons of 2008 – I think this was culled from a Seth Klarman Interview Things that have never happened before are bound to
What we do get is we know what the AI adoption component is and the amount that they’re spending into it is going.
After 44 Years, We Are Moving from Buy to Sell
There is nothing new in this piece by MM. He has written essentially the same thing for 20 years. And he stands on other shoulders
This is worth reading if you would like to understand adulting in the investment world.
Purloined from The Skorina Letter which was lifted from a Ted Seides interview with Wash U CIO, Scott Wilson. The trustees observed that the best
I don’t know Andrew Left so I am not prepared to comment on his character. But if you are telling me that taking an investment
It’s May 2026 and once again civilization and financial markets have made it 5-ish months into a new year without self-combusting like a Spinal Tap drummer.
This is way too long to read, unless of course you think that understanding business strategy, management, and execution are important variables in investing for
Yes, I tend to see “things in many things” through the lens of investment management, information processing, and the tendencies of behavioral bias. One Stewart
If a PM can get 80% up to speed in 3 minutes of reading before he starts to exercise judgment and how to allocate time, that guts a lot of the graduating class of 2026 and Office licenses
I am focused on the money. I have wasted a lot of time in this space and by no means claim my Black 8 Ball has it wired. But at the present time, the “math” on trillions doesn’t produce a tangible return to those spending it.
Click on the image a PDF version of the letter. We are awash in high frequency yack and CSC has determined NOT to comment on
I love quant shops that produce well-reasoned thought pieces with all that “data and stuff” that support well-reasoned and well written pieces generated here at
It is a long held opinion that supersized voting rights in excess of economic interests is a terrible idea.
