Articles
When the Facts Change, We Change Our Minds (Anatomy of a Sale)
Even before the coronavirus we were not big fans of the airlines stocks. Planes are expensive. Airlines have to pay for them whether they are fully occupied during normal economic times or when they are half-loaded during recessions.
Uber Eats: Delivering Food and My 4 Seconds of Fame on PBS (not PBS Kids, unfortunately)
I was on PBS NewsHour talking about Uber Eats and the food delivery business (you can watch it here). When ...
Nifty FANGAM and Other “One Decision” Investment Strategies
In early January we would not have guessed the stock market would be at today’s level, there must be more to the stock market than FANGAM.
De-Numb Your Mind
I can definitely see how we are always trying to numb our minds. We constantly need the mental organ entertained and well-numbed with external stimuli. It seems that whenever we are left with ourselves, that is, with our minds, we reach out for our favorite portable numbing device and happily lose ourselves in Facebook, Twitter, Netflix, or YouTube. We spend little or no time with ourselves.
The Fischer Random Chess Stock Market
There is a parallel between today’s stock market and Fischer random chess. The last time we faced a global pandemic was in 1918. The only common denominator between now and then is that humans have not really changed that much – it takes a few millennia to rewire our DNA and thus our fundamental behavior.
Why The Survival Of Traditional Carmakers Is Far From Certain
Traditional carmakers do have strengths in designing, assembling, and marketing cars. They can afford to make an enormous investment in EV and absorb the losses that come with them. But will they?
Rebuilding Good Habits after Lockdown
Though I loved working from home during the lockdown, I now realize that it came at a cost – in March and April I destroyed most of the good habits I had worked very hard to build over the last few years.
The Jet Lag Series: How do I work? When do I find time to write?
How do I work? When do I find time to write? I get asked this question a lot. People wonder when I have time to do research. Do I do research at all? Or do I have someone else do it for me?
The Jet Lag Series: There is no “I” in Hannah (But There are Two in “Vitaliy”)
Last summer Hannah started playing volleyball. She really fell in love with the game. She was one of the best players. Then the program director noticed Hannah’s play and told me that Hannah had “good hands” and suggested that we transfer her to a more advanced team of 15-year-olds (Hannah just turned 14). I instantly started calling her “good hands Hannah.”
The All-Terrain Dividend Portfolio
I was finally able to do something I have tried to do but could not for ten years! We have built a dividend portfolio that’s “all-terrain” and that yields … well, you’ll have to read to the end to find out.
Our Thinking About Coronavirus Has Evolved
Our thinking about coronavirus has evolved significantly over the last few weeks. Our initial optimism that it would send us into a mild recession was proven wrong by our government’s inept response – the extra time that we were given was wasted.
Never Let a Good Crisis Go to Waste
I discussed with Andrew Horowitz this recession and why it's a good crisis, and not like any other previous one we've experienced.
Surviving The Coronavirus Crash: ‘You Make Most of Your Money in a Bear Market; You Just Don’t Realize it at the Time’
Especially in this coronavirus market crash, we continue to seek out what we always look for globally — high-quality businesses that we can buy at a significant discount to fair value.
The Jet Lag Series: Art or Craft
Severe repetition could turn an art into a craft – as our skill improves creative tension is reduced. Repetition may slowly drain the emotion out of each iteration. Craft and art are both components of creative activity, but art is the component that keeps us improving.
Markets in Turmoil: Our Game Plan for Crisis
A letter we sent to clients about how we are responding to the recent market selloff. We are anything but celebrating the toll coronavirus will take on human life and the global economy, we are embracing this crisis as an opportunity to increase the long-term returns of our portfolio.
Set Your Egg Timer to 6 Months
If we had our egg timer set on six months, we’d prioritize what really matters: relationships, inhaling life, walking in the park. We’d reset what we care about, and it wouldn’t be things. We are given the rare opportunity to prioritize what is most important to us without guilt. The material world is on pause, at least for a few weeks.
What Would Ben Graham Do in Today’s Market?
I stumbled on a column by the wonderful Wall Street Journal columnist Jason Zweig, titled “What Benjamin Graham Would Tell You to Do Now: Look in the Mirror.”
Russia & Saudi Play a Dangerous Game of Chicken
Saudi Arabia announced that it will increase oil production from 9.7 million barrels a day to 10 million and then to 12 million if needed. This news alone sent the oil price down 20% – and the whole stock market with it.
The Impact of Coronavirus: People, Economy & Your Portfolio
This letter will be about the impact of coronavirus, divided into three sections: health and human impact, economic impact, and investment strategy.
The Jet Lag Series -Should You Copy Your Heroes?
Should you copy your investing heroes? I write about importance of learning from other investors while still trying to be you.
The Jet Lag Series: Inhaling Europe
I was inhaling Europe on a trip to Switzerland and Italy with my brother Alex and my son Jonah. This was Jonah’s first time in Europe, and I really wanted him to love it as much as I do.
