Substack Library

Glossary

China’s Deflationary Down Wave

Note to my readers: I am in Florida to celebrate my wife’s birthday and attend rowing camp. As a result, no post next week unless the sky falls, in which case you will hear from me.

The Outlook in Pictures

THIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH.

Would a Trump Win Move Markets?

“I will try to express myself in my art as freely as I can and as wholly as I can, using for my defense the only arms I allow myself to use, silence, exile and cunning.”

Getting Paid To Wait

“We have divided among us, like thieves, the treasure of nights and days.”

Big Forces, Asset Pricing

NOTHING BELOW IS INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL, DO YOUR OWN RESEARCH.

Villains, Perpetrators, Markets

“Four hoarse blasts of a ship’s whistle still raise the hair on my neck and set my feet to tapping.”

Avoiding Drawdowns

Today I am writing about drawdowns and market surprises. If you are here for the investment logic jump to the paid section.

Cycles + Tomorrow’s Returns Today

Announcements: Master, Minion was selected by Kirkus Reviews as among the “top 100” Indie books published in 2023. There are about 4 million books published a year, of which Kirkus reviews about 10,000. It’s a political thriller full of art, love, sex, violence, and political intrigue. My next book, The Uncomfortable Truth About Money (Harriman), comes out next year.

Look Back & Look Out

Announcements: If you like the content (books, podcast, Substack) submit a review (Amazon, Apple, this page). Also, I want to do a podcast on US health insurance. I am looking for a guest who knows these organizations from the inside out and can explain how they are incentivized to reject claims. If you know of someone, please let me know.

The Power of Positive Cash Flow

“Before I can solve a problem, I just state it to myself. When I think I have found the solution I must prove I am right. I know of only one way to prove it; and that is, with my own money.”