What Do You Do About Externalities?
Tax Like Pigou, Litigate Like Coase, Ban Them, or Just Ignore Them?
Byrne Hobart /
Counterparty Risk Matters
Usually Not to You, Not Most of the Time, But Sometimes It's All That Matters
Byrne Hobart /
The Most Important Chart in Finance
What Crowding Does to Returns
Byrne Hobart /
(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 /
Should Investors Care About Yield?
It's a Component of Returns, a Tax Issue, and a Signal
Byrne Hobart /
"Real Money" Investors and Everybody Else
Why Some Investors Matter More Than Others
Byrne Hobart /
Risk and Returns, Before and After the Fact
All Projections Are Extrapolations, But Be Careful About What You Extrapolate
Byrne Hobart /
Scaling Organizations Means Choosing What's a Rounding Error
Dealing With the Complex Economics of Money and Attention
Byrne Hobart /
Why Does "TMT" Exist?
Tech, Media, and Telecom is a Broad Category Covering Many Different Companies, and Describes a Plurality of Sector-Focused Portfolios
Byrne Hobart /
The Business of Annual Letters
Why Do Some Companies Write Them? What Makes a Good One?
Byrne Hobart /