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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
How To Use The DuPont Formula
Dec 13, 2023

How To Use The DuPont Formula

Equity Times Asset Turnover Times Leverage Times Margin, But It Can't Be That Simple, Can It?

Byrne Hobart
Byrne Hobart
Why Proxy Statements Are Worth Reading
Dec 06, 2023

Why Proxy Statements Are Worth Reading

Corporate Governance Speaks Volumes, Especially with Respect to Time

What Do You Do About Externalities?
Nov 29, 2023

What Do You Do About Externalities?

Tax Like Pigou, Litigate Like Coase, Ban Them, or Just Ignore Them?

Byrne Hobart
Byrne Hobart
Counterparty Risk Matters
Nov 22, 2023

Counterparty Risk Matters

Usually Not to You, Not Most of the Time, But Sometimes It's All That Matters

Byrne Hobart
Byrne Hobart
The Most Important Chart in Finance
Nov 15, 2023

The Most Important Chart in Finance

What Crowding Does to Returns

Byrne Hobart
Byrne Hobart
(Some Of) The Economics Consultants, Bankers, and Accountants
Nov 08, 2023

(Some Of) The Economics Consultants, Bankers, and Accountants

When's It a Good Deal To Pay Someone To Tell You What You Want to Hear?

Byrne Hobart
Byrne Hobart
Should Investors Care About Yield?
Nov 01, 2023

Should Investors Care About Yield?

It's a Component of Returns, a Tax Issue, and a Signal

Byrne Hobart
Byrne Hobart
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