Serious investment thinking that doesn’t take itself too seriously.
Investment themes and trends
Just a little grab bag of charts, asides, and riffs on themes. YouTube is under-monetised Random Walk made the case for Google as a $2T company, even assuming search is a worthless business (which it’s not). As everyone expected, search continues to perform, and indeed, out-perform.¹ As...
Some readers may be familiar with Liu Cixin’s award-winning 2008 science fiction novel The Three-Body Problem or its 2024 Netflix adaptation. Either version provides a fitting...
More join the "healthcare is the jobmaker" chorus, but there's more than just 'told you so'. healthcare jobs replaced all the manufacturing jobs (much to the benefit of women and...
Water rights are key to the American West. What are they, how do they work, and where might there be investment opportunities? “I really think this emotional charge that we all...
More thoughts on a great civilization at its peak. “We are amazed, but not amused” — Stevie Wonder The 20th century had a bunch of rising powers that all reached their peaks in...
Buy low, sell high? It’s that simple, right? Of course, we know that it isn’t. But there are some simple heuristics that investors use when deciding whether to invest into real...
And that's unfortunate, because the alternative is much worse. ADP blames soft jobs on “uncertainty,” but the data mostly says otherwise slow hiring is the trend, not a sudden...
There's no need to be beastly to the hun if the hun are being beastly to themselves. Who needs fake news when the real news is scarcely believable? The Daily Telegraph, Britain’s...
Sectors and stocks that are loved, hated, and everything in-between. Goldman published a hedge fund trend report, and while the signal is low, it’s still a roaring good time....
Rents rising the quickest, first-time buyer supreme, CRE lightening round. money in the cheap seats first-time buyers in crisis (lol, no) CRE lightening round love that dirty...