Home | 2023-22 | 2021-20 | 2019-18 | 2017-16
CONTEXT
This is the best chart we have seen that describes the true velocity of this rate hiking cycle. Ultimately, hiking cycles tend to continue until something breaks, and the current issues in the banking sector seems to fit the bill quite well. Our base case is that the next few months will see increased volatility, but that opportunity will abound for those that can look through to the other side of the cycle (which has likely now been brought forward).
Life’s Work: An Interview with Jerry Seinfeld | Daniel McGinn
A classic print interview with Jerry Seinfeld. He attributes a lot of his success to micromanagement, which makes sense when you think about how potent and intentional each sentence needs to be in any form of comedy.
We are big fans of any content that give you a window into the mind of someone who rose to the top of their field. It also doesn’t hurt when it is funny:
Could McKinsey or someone have helped you find a better model?
Who’s McKinsey?
It’s a consulting firm.
Are they funny?
No.
Then I don’t need them.
Read more
An interview with former secretary of commerce Penny Pritzker. A deep dive into the family life of a very prominent and accomplished member of one of the most successful business families in America.
If you are static in business you die
Read more
A summary of the current environment from Byron Wein and the Blackstone team. We generally agree with the view that the opportunity set is becoming more attractive in certain spots, albeit with some very well-known macro headwinds to be cognizant of.
Smart investors with patient capital can view recent volatility at a safe remove, unworried by the daily vagaries of the markets and unconcerned about the fool’s errand of market timing. This environment is where active, high-conviction investing can outshine passive strategies that are subject to the moods of the public markets and that struggle to differentiate themselves in a challenging macro environment.
Read more
This is the must listen for March. Morgan describes something we talk about constantly. The skill set in making money is not only different than the skill set in keeping it, but rather can be highly detrimental!
Concentrated positions and risk taking is the traditional route to wealth, while diversification and a touch of paranoia are the crucial components in keeping it.
Just average, merely good returns, sustained and uninterrupted over long periods, especially during times of chaos, that is what produces the biggest returns
Read more
Home | 2023-22 | 2021-20 | 2019-18 | 2017-16