The Sage of Baltimore

“The real fortunes in this country have been made by the people who put their capital into a business that had a future, worked hard, invested more capital, and stayed with their investment throughout the years — depression and boom

The Aesthetic Tightrope

Dogs do not care what patterns are knitted into their sweaters. They may or may not appreciate the functional warmth provided by their sweaters but only their owners derive any benefit from details such as the color scheme, a Christmas

Holiday Book Recommendations for 2019

Reading a book can be deceptively expensive. The cost of a new hardcover book on Amazon is usually in the vicinity of twenty dollars, but the real cost of reading any book is the time you spend reading it. If

Here’s to the Crazy Ones

It is Friday afternoon, around 4:30 pm, and Dan just got back to his desk from a meeting. He sees Janet, his manager’s boss, drinking coffee nearby. Dan’s son goes to the same school as Janet’s daughter and he has

The Case for Non-Consensus Active Investing

“Research is a quest for truth, not a confirmation of predetermined beliefs that we have concluded to be true. It must be conducted without an agenda. You should not care what truth will be revealed, as long as your process

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