Why the abolition of distance raises real estate prices in New York, San Francisco, London, and Singapore
From medieval trade fairs to the closing auction, liquidity creates more liquidity
Why the big moves are down days, and the biggest up days are in bear markets
Maximizing the bits-to-dollars ratio
The magic of economic PB&J
On O-rings and opportunity cost
From supply shocks to financial crises, recessions come in many flavors—but growth remains about combining more (or better) inputs, like labor and capital, with smarter methods, both social and technological.
The longer you've owned something, the more you've rejected reasons to sell
By default, you'll be exposed to fewer and fewer new ideas over time. What are you going to do about it?
Rates matter, amortization matters, but the un-discounted sum of interest paid is never an input that should guide decisions
