Psychology of Money (Housel, 2020)

by | Learning

Listened to The Psychology of Money audiobook on Libby app while driving to Florida recently. For those who want to buy the book here (affiliate link). The thesis is simple and powerful. You don’t need to be a MBA to make good money decisions. A lot of this is...

Bain: Global PE Report 2020 (part 1)

by | Learning

Bain & Co published their Global 2020 Private Equity Report here in February 2020. Like all things Bain, it is very readable and useful. Here’s my tear down of the first 30 pages of the report: Buyout firms have outperformed Starting with the main point, PE...

Berkshire Hathaway 2019 Shareholder Letter

by | Learning

Small gift. Found a great business resource online, for free, that chronicles 40+ years of business thinking. Written by Warren Buffett and Charlie Munger, legendary investors at Berkshire Hathaway (BRK). All put together into a book, it is 600 pages long with 4.6...

Review: White Coat Investor

by | Learning

Recently read a 150pg book on personal financial advice targeting physicians. It’s called White Coat Investor (affiliate link) by James Dahle, a practicing emergency room doctor. Good title, huh? It has a matching website, and podcast here. My physician...

Naval Ravikant: How to be Wealthy

by | Team

Naval Ravikant is an angel investor, creator of AngelList, billionaire, and philosopher. After recently listening to a few interviews, my wife and I have been mesmerized.  1) What he says makes massive sense. “Yeah, totally.” 2) He’s got a strong...

Bain: Healthcare M&A in 2018

by | Learning

Bain & Co released a Healthcare Private Equity and Corporate M&A Report 2019 here. (1.7Mb, 64 pages) Last week’s blog post was on private equity portion. This week, I am covering the M&A portion. Healthcare M&A = $435 Billion in 2018 As a...

In memory: Lehman Brothers (1850-2008)

by | Learning

This week is the 10th anniversary of the beginning of the global financial crisis of 2008, and the end of Lehman Brothers, one of the most storied Wall Street firms. A new play opened in London called the “Lehman Trilogy”, and there’s a great...

Bain: Private Equity Report 2018

by | Learning

Bain published a 2018 Private Equity report (80pg) which you have to sign up to get here. The high-level message seems to be that private equity is doing well (perhaps too well) and there is a lot of investor money looking for returns. This is driving up valuations...

US stock: 8 great years, now rising rates

by | Learning

The US stock market fell on Friday and Monday in large part due to fears of inflation. The logic goes: economy is doing well, inflation is creeping up, Fed might get over-eager and raise interest rates too much, companies might have difficulty making profits, stocks...

Who is Ray Dalio?

by | Learning

Ray Dalio is a billionaire, a genius, a hedge-fund manager, and a “piece of work.” He is not your average guy in any sense. He is a super smart, opinionated “macro” investor who started Bridgewater Associates, one of the largest hedge funds at...

Would you have bought Facebook at the IPO?

by | Fun

Did you read the 170 page Facebook prospectus? Me neither. The consultant’s short-cut is to watch the FB IPO video. It was created for retail investors.  Unsurprisingly, it is quite bullish and does not really mention risks. You can find those details in the...