China’s Deflationary Down Wave
February 9, 2024Note 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.
Getting Paid To Wait
January 19, 2024“We have divided among us, like thieves, the treasure of nights and days.”
The Power of Positive Cash Flow
December 8, 2023“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.”
On Laughter and Thanksgiving
November 22, 2023A lot of what I write here is pretty serious, like my trip to Ukraine or concerns about the bond market.
China’s Boom Is Over
October 27, 2023In my career, I’ve tried to make sense of three big economies that were foreign to me—Russia, Brazil, and China. I started my career in Russia, worked for a bank with significant Brazilian operations (BankBoston), and focussed a lot on China while at Bridgewater and since leaving. The shortcut to unlocking each is spending time with people who can explain how things really work.
Three Helpful Frameworks
October 13, 2023To those of you who enjoyed Raising a Thief or Master, Minion, I am excited to announce my next book will be published in 2024 by Harriman House. Like Raising a Thief, this book is a non-fiction memoir, but about money instead of parenting.
Health Is Wealth
September 29, 2023News flash…Master, Minion just won an award. I can’t reveal what award until later this year, but I am surprised and delighted. So…if you want an enjoyable read that gets into the psychological dimensions of a financial war, a good read awaits.
The Warrior
September 3, 2023Leonid, our first guest on Season #6 of the podcast, is not an easy man to land a conversation with. He is a drone operator on Ukraine’s front lines and, understandably, quite busy. Preventing Russian invaders from killing him and his compatriots takes precedence over talking to me and, via this link, with all of you.
Season #5 Podcast Finale
July 4, 2023The goal at the outset of our podcast was to answer a fundamental question—what lessons are people accumulating over the course of their life? These lessons differ from the ones we learn in school in that they are more grounded in gritty reality. For instance, exceptionally smart people (like former Defense Secretary Robert McNamara) can do very dumb things. That lesson was from Congressman Jim Himes regarding the US invasions of both Vietnam and Iraq.
Administering Amid Rapid Change
June 2, 2023If someone forwarded this to you, you can read about who I am here. I was a strategist and equity partner at the biggest hedge fund in the world. Now I make my thoughts available to you and implement them with my own capital. This Substack grows via word-of-mouth, so please forward to friends. If you like this writing, you will enjoy my books Master, Minion, and Raising a Thief. This is not investment advice. Investing is risky and sometimes painful.