Facebook’s New General
Over the past week, we’ve seen a cascade of negative news stories on Facebook. To close observers, none of them reported anything new.
Read memoMemos
Writing on businesses, technology, industries, and long-term investing.
Forcing Functions Win the War
I’m reading (listening to) this interesting book, Freedom’s Forge, about how U.S. industrialists were the driving force behind our victory in World War II.During the decade following the Great Depression, government had defunded our military and defense contractors. Low consumer demand had left o…
Read memo
October’s Upside-Down Market
In October, it felt as if stocks fell off a cliff. Worries about rising interest rates, tariffs and trade wars dominated headlines.
Read memo
“I’m waiting for a pullback”
A common refrain I frequently hear from current and potential investors who are thinking of adding or initiating an investment is that...
Read memo
Is VR the Future of Computing?
Last week I attended the Oculus Connect 5 event. As the name implies, this was the fifth year the event was held, and yet in terms...
Read memo
Facebook’s Great Reset
Facebook has been warning for several quarters that investments in security would “significantly impact our profitability.”
Read memo
On Avoiding “Technology”
An investor insistent on avoiding technology would’ve been left behind, like a buggy whip manufacturer unwilling to understand the auto.
Read memo
Buffett’s World War II Debut
What really matters is the long-term performance of the underlying businesses you invest in.
Read memo
From Franchise to Ordinary Business
What is most susceptible to disruption after all, traditional or new technologies?
Read memo