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So @patrick_oshag was kind enough to have me back for episode 2 of Invest Like the Rest. We talked about marketplaces, why everyone eventually sells ads online, and an

Concentration is the essence of an escalating euphoria. By late-stage cycles, many buyers are fixating on “winners” with the purchase motive being further stock gains, rather than any logic of

What businesses that operate in relatively commoditized product or service categories, earn high returns by competing on customer service instead of trying to be the low cost producer? Many that

Have seen many varieties of this observation, which is spot on and distressing. For context on how it got this bad, everyone should follow @radleybalko and read his book Rise

Thumbtack published updated data, and now showing Home Maintenance projects started up 8% y/y after being down 34% on March 24. Home Systems projects are down 1% after being down

I can't believe I'm about to do thisUnder Randall, AT&T spent $40B in buybacks and $240B in capex. For the first time ever, analysts are questioning VZ's network superiorityHis tenure

Having a coffee, watching the sunrise with my daughter and reading angry rantings of people convinced we could put 25% of the US economy through Ch 11 without hurting the

Want to expand a bit on this thought, and try to synthesize some thoughts going through my head.https://twitter.com/modestproposal1/status/1246099863575633921 Prior to covid, I had a conversation with one of my smartest