Learn how to think about finance, economics, and corporate strategy.
Data Exhaust, Signals Intelligence, and Other Features of the Modern Investment Process
Byrne Hobart5 days ago
Optimal bet size is usually stated in terms of bankroll, but the size of the bankroll is tricky to measure.
Byrne Hobart12 days ago
Is Zero Any More Special a Number Than 3.82234%?
Byrne Hobart19 days ago
The Economics of Every Burger Chain Launching a Chicken Sandwich
Byrne Hobarta month ago
On The Birth, Aging, and Death of Companies
Someone Fought Hard For That Pixel!
In a Simple Enough Economic Model, They Don’t Really Exist
Byrne Hobart2 months ago
The Economics of Companies Acquiring What They Could Make In-House
Equity Times Asset Turnover Times Leverage Times Margin, But It Can't Be That Simple, Can It?
Corporate Governance Speaks Volumes, Especially with Respect to Time
Darius Mortazavi2 months ago
Tax Like Pigou, Litigate Like Coase, Ban Them, or Just Ignore Them?
Byrne Hobart3 months ago
Usually Not to You, Not Most of the Time, But Sometimes It's All That Matters
What Crowding Does to Returns
When's It a Good Deal To Pay Someone To Tell You What You Want to Hear?
It's a Component of Returns, a Tax Issue, and a Signal
Byrne Hobart4 months ago
Why Some Investors Matter More Than Others
All Projections Are Extrapolations, But Be Careful About What You Extrapolate
Dealing With the Complex Economics of Money and Attention
Tech, Media, and Telecom is a Broad Category Covering Many Different Companies, and Describes a Plurality of Sector-Focused Portfolios
Byrne Hobart5 months ago
Why Do Some Companies Write Them? What Makes a Good One?
Companies, Investors, and Countries
Sandbagging, Conspiring, De-Risking
You Won't Agree on Everything, But You'll Know What You Disagree On
The Economics of a Ludicrously Expensive Hobby That Occasionally Turns Into a Job
Byrne Hobart6 months ago
Infallible Recession Indicator? Noisy Signal? Both?