“If a man empties his purse into his head, no man can take it away from him. An investment in knowledge always pays the best interest.” - Ben Franklin

Circle of Competence Issue #72

Howard Marks' latest memo on the economy, WeWork's CEO cashes out prior to IPO, the trust crisis, Duolingo's $700M language lear

Jul 27, 2019

Bill Gurley on the keys to a 10X revenue multiple, negative yielding junk bonds, the paradox of choices, big data and real estate, Amazon tu

Jul 12, 2019

Antitrust regulations and consumer welfare, thoughts on crypto as a commodity, Chuck Akre's three legged stool philosophy, David Abrams

Jun 22, 2019

Thoughts on free trade and capitalism, Howard Marks' memo, robot reporters, Buffett on share repurchases, fusion energy, Clayton Homes C

Feb 9, 2019

The life of Walt Disney, VC feeding frenzy, real estate private equity, consumer surplus mental model, Tesla's positive cash flow, podca

Nov 4, 2018

Icahn's Dell merger activism, Sears bankruptcy, lessons from Annie Duke, timber market crash, Bezos on leaving earth, podcasts, startups

Oct 21, 2018

Second Quarter Fund Letters, Qualitative vs. Quantitative Metrics, Munger On Mistakes, Booking vs. Airbnb, Private Equity Dry Powder, Podcas

Jul 15, 2018

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