Blog Archives

Objectivity, Discipline and Patience

“I’ll take human behavior for 50, Alex.” “The answer is, ‘Objective, disciplined and patient.’” “What is, ‘What we’re not?’” “Correctamundo.” Being successful in life isn’t rocket science. And yet, it eludes most of us. Successful investors are objective, disciplined and patient. Which is precisely why I leave my investments to[…] Read On

Bubble Logic

I’m struggling to wrap my head around Nasdaq 9,300 – nearly twice the dot-com bubble peak – Apple’s $1.4 trillion market cap, and the notion that the combined value of five west coast companies is higher than the GDP of every country in the world but the U.S. and China.[…] Read On

Software Is So Overrated

Marc Andreessen’s 2011 essay “Why Software Is Eating the World” opened our eyes to a growing trend, that tech companies are disrupting age-old industries and creating high-growth markets seemingly out of thin air or, more precisely, out of computer code.   The Silicon Valley venture capitalist cited several innovative companies[…] Read On

Lori Loughlin’s 10-Year Big House Gamble, Softbank’s $20B WeWork Bet and Other Risky Business

“Sometimes you gotta say ‘What the f***.’” – Miles, Risky Business I’ve made some risky bets in my time, but risking $20 billion and 10 years in prison are just a little bit outside my comfort zone.    The feds have slapped new bribery charges on top of several existing conspiracy[…] Read On

Uber, WeWork and 2019’s Dismal Unicorn IPO Class

From Wall Street to Silicon Valley, everybody’s trying to figure out what’s wrong with this year’s crappy unicorn IPO class. Uber, Lyft, Peloton, Slack, Pinterest – they’ve all underperformed post-IPO. WeWork couldn’t even get off the ground with that loony $47 billion valuation, finally ousting CEO Adam Neumann and pulling[…] Read On