Newsletters & Articles

Articles And Other Resources To Explore The Philosophy And Application Of Our Unique Approach To Investing

All NEWSLETTER Quarterly review FINANCIAL PLANNING SPONSORSHIP EVENTS

  • Q2 2026 Review: Great Expectations

    In our first quarter letter, we were careful not to gloat about our strong relative performance. We discussed things worth worrying about, like global instability and war, stubborn inflation, AI FOMO, and a hot IPO market. These risks still exist today, but we also said timing the market is a loser’s game. The second quarter…

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  • SPACEX

    It has been 53 years since the New York Knicks last won an NBA championship. A few months before Willis Reed and Walt Frazier cut down the nets, astronauts completed Apollo 17, the final mission of the Apollo program and the last time humans walked on the Moon. It’s only fitting that this Knicks team’s…

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  • Q1 2026 Review: Is it Time to Worry?

    There is a lot to worry about. War in Iran, artificial intelligence, inflation, high stock valuations, and the potential liquidity crisis in “alternative” investments. It’s enough to keep anybody up at night (and if you are up, give us a call, because we are probably up taking care of one of our kids!). Yet the…

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  • Q4 2025 Review: Bubble, Cycle, Value

    The world moves in cycles. Some are predictable like the seasons or the tides. When it involves people, cycles are just as inevitable but much less predictable. Whether it’s the business cycle of booms and busts or the investment cycle favoring growth or value, each iteration is different. All cycles include periods of great optimism…

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  • Q3 2025 Review: Trust

    At Berkshire Hathaway’s 2024 annual meeting, Warren Buffett was asked if he would change anything about his life. For someone who has long managed Berkshire well beyond financial necessity, his reply struck a chord: “I really enjoy managing money for people who trust me…I just like the feeling of being trusted.” We’ve spoken directly with…

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  • The AI Bubble

    “Some development, seemingly new and desirable…captures the financial mind…the price of the object of speculation goes up…this increase and the prospect attract new buyers…the speculation building on itself provides its own momentum…There are those who are persuaded that some new price-enhancing circumstance is in control …a new world of greatly, even infinitely increasing returns…then there…

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