Credit Bubble Stocks

Perpetual futures, or "perps," require some explanation before an informed judgment can be made about their threat to the regulate...

Lunch with the FT: A Second Helping (3/5) Followup to the first edition , which we read last quarter . This edition has the best lunch so f...

Another response, however, is to import new congregants from more backwards societies that have not yet secularized. For this reason, a comm...

Thank you. It's great to be here again and to see so many familiar faces. I've been looking forward to this weekend—what better plac...

Across our roughly 30 holdings, just over a third operate in oligopolies, nearly 28% in duopolies, and another third are the clear leaders o...

One argument against Amazon is that it is investing for a revenue volume that will never come. That's a different argument, to me, than ...

The world has been noisy recently. Geopolitical conflict, shipping disruptions, tariff fights. I don't know how those will resolve. Wha...