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Letters

The Power of Market Agnosticism

You don’t need to know where the market is going to make money in investing. Focus on what is important and knowable.

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Letters

On Value Investing – Part One

Giving a brief overview of the discipline of value investing, where it has gone wrong and what you can do about it.

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Letters

Double Standards & Great Expectations

You need preparation and mental fortitude to benefit from a great track record, it’s never a straight line upwards. Don’t be blinded by smoke and mirrors, focus on the essence.

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Letters

Money Vs Skill

Don’t confuse having money for the ability to make money. Those who have made that grave error have paid a heavy price.

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Letters

The dimension of time and its cycles in financial markets

A treatise on time and its effect on asset valuation. Know what TIME you are getting in at. What can move time up and down.