I loved this book so much,
I got it as a gift for all my friends
This essay is not quite the same as the book, because it’s turned into something more.
It started as a review. I read the book twice, then I listened to it twice on Audible. But I still didn’t feel that I had internalized it enough – I needed to write about it. But what started out as a review grew into something more: it’s now a personal manifesto.
Have a read by filling out the form below. You’ll get an email with the PDF, which you can share with friends and family:
Today’s Market = 1999 Capex + 2008 Credit
I wrote in the past that the AI rollout feels a lot like déjà vu of the 1999 telecom bubble. Today’s AI bubble has elements of both the 1999 overinvestment in internet infrastructure and the 2008 collapse of financial instruments that infected the banking and financial system.
You Don’t Need to Be an Expert to Hire One. You Need a Tunaman.
I interview corporate executives for a living. I have spent nearly three decades analyzing businesses and managing other people’s savings. And yet, when my wife and I decided to remodel our house, I felt completely naked.
Most People Don’t Want to Write. They Want to Have Written.
I was at a conference in Switzerland. A reader came up to me and asked, “Vitaliy, I’ve been reading your articles for years. I’d like to write. How should I start?”
You are not as smart as you think you are – Update 2026
In a bull market, it is easy to forget about selling discipline and then turn into a “buy and forget to sell” investor. Every time you sell a stock, you look dumb because it usually goes up afterward.
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