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How Companies Age Gracefully
Mar 13, 2024

How Companies Age Gracefully

Corporate Birth, Middle Age, and a Well-Managed Decline

Byrne Hobart
Byrne Hobart
The Wealth Effect
Mar 06, 2024

The Wealth Effect

When Assets Go Up, So Does Spending. Does It Work Forever?

Byrne Hobart
Byrne Hobart
Seasons of Finance
Feb 28, 2024

Seasons of Finance

Earnings Season, Conference Season, Junior-Employee-Answers-the-Phone Season...

Byrne Hobart
Byrne Hobart
Hurdle Rates
Feb 21, 2024

Hurdle Rates

What Return do Companies Need When They Buy Equipment and Assets, and Why is it 15%?

Byrne Hobart
Byrne Hobart
What is Alternative Data, and Why Does it Matter?
Feb 14, 2024

What is Alternative Data, and Why Does it Matter?

Data Exhaust, Signals Intelligence, and Other Features of the Modern Investment Process

Byrne Hobart
Byrne Hobart
What's the True Bankroll?
Feb 07, 2024

What's the True Bankroll?

Optimal bet size is usually stated in terms of bankroll, but the size of the bankroll is tricky to measure.

Byrne Hobart
Byrne Hobart
Where Do Interest Rates Come From?
Jan 31, 2024

Where Do Interest Rates Come From?

Is Zero Any More Special a Number Than 3.82234%?

Byrne Hobart
Byrne Hobart
Hotelling's Law
Jan 24, 2024

Hotelling's Law

The Economics of Every Burger Chain Launching a Chicken Sandwich

Byrne Hobart
Byrne Hobart
Corporate Mortality
Jan 17, 2024

Corporate Mortality

On The Birth, Aging, and Death of Companies

Byrne Hobart
Byrne Hobart
The Opportunity Cost of Features
Jan 10, 2024

The Opportunity Cost of Features

Someone Fought Hard For That Pixel!

Byrne Hobart
Byrne Hobart
Where Do Abnormal Profits Come From?
Jan 03, 2024

Where Do Abnormal Profits Come From?

In a Simple Enough Economic Model, They Don’t Really Exist

Byrne Hobart
Byrne Hobart
Build, Buy, or Borrow
Dec 20, 2023

Build, Buy, or Borrow

The Economics of Companies Acquiring What They Could Make In-House

Byrne Hobart
Byrne Hobart
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