Substack Library

Glossary

Letter from Sao Paulo

One morning, while I was strolling in the garden, an idea appeared on the trapeze I have inside my head.

    Opposing Forces

    THIS IS NOT INVESTMENT ADVICE.

      Poking Holes in the Growth Narrative

      Not investment advice.

        The Great Debate

        NOT INVESTMENT ADVICE.

          Slowing Rates of Change

          THIS IS NOT INVESTMENT ADVICE.

            When Cash Outperforms

            NOT INVESTMENT ADVICE.

              The Wind Comes Out of the Sails

              We understood that life, even the worst parts of it, were a shifting mix of happiness and pain, good luck and bad, and that there was no reason to fear that bad luck was greater than good.

                Bigger Swings

                NOT INVESTMENT ADVICE

                  Entrepreneurs and Central Bankers Don’t Agree on AI

                  THIS IS NOT INVESTMENT ADVICE

                    Inflation Ebbing = Assets Up

                    “It isn’t what sum you get, it’s how much you can buy with it.”