The most powerful paradoxes of life:

Get ready. Last week, in NYC, a chunk of residential building was sold 42% lower than its acquisition price (2012, at a discount owing to the crash).

Two thoughts from Matthew McConaughey “Life is not fair, it never was and it isn't now and it won’t ever be. Do not fall into the trap. The entitlement trap, of feeling like you’re a victim. You are not.” “Life is a series of commas, not periods.” H/T Jim O'Shaughnessy

LOGICAL ERROR DU JOUR That some successful companies were initially "profitless" does not mean that profitless will become successful. That every basketball player is tall does not mean that every tall person is a basketball player.

Finance run by technologists is just like food cooked by pharmacists, books written by printers, operas composed by sound engineers, and planes flown by mechanics.

Jamie Dimon's 2022 Letter to Shareholders On interest rates: "When you analyze a stock, you look at many factors: earnings, cash flow, competition, margins, scenarios, consumer preferences, new technologies and so on. But the math above is immovable and affects all."

There is a pretty important distinction between a great investor and a great investment professional. Great investment professionals need defensible results and fantastic marketing. That’s different from being a great investor. Try to remember which game the person

I still don't know what lead to "success". But I know what leads to insuccess: a temperament of complaint, the mentality of permanent victimhood, and the collective and individual propensity for lamentation.

"Read 500 pages every week. That's how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will." — Warren Buffett

In light of today’s news, I thought I would try to take a step back and provide perspective on what this is really all about. I first became concerned about Harvard University when 34 Harvard student organizations, early on the morning of October 8th before Israel had taken any military

"The outstanding[analysts] do a wonderful job of isolating the critical component of each differentiated investment idea. The less outstanding ones will throw a lot of facts at you but will require you [the decision maker] to discover the real core of the investment" - Win Murray

Not a parody. From a presentation pushing venture capital (and all things unmarked) on retail.

Impressive Q for $JAKK given the environment/near-term issues. Lots of initiatives headed in the 2H2024. Not crazy to think we see 60m ebitda for FY. 2025 looks awesome, and 2026 even better. Co. is diversifying customer base, growing its IP, & becoming less hit driven. Holding!

These are the sorts of well-intentioned but misguided policies that led to the Great Financial Crisis. investors.com/politics/edito…

Happy to share my new write up on $NCI.V. Currently my largest position. I think it has a unique combination of fast profitable growth, highly aligned insiders, and a unique tailwind in Saudi Vision 2030. Write up is available in my bio!

Just published my latest high conviction idea: Neo Performance Materials $NEO.TO (you know where to find it). It is a massive call option on a trade war with China. History would tell us that if China puts an export ban on rare earth magnets, NEO's EBITDA could go up 7x as one