I’ve been asked by many readers and some clients for my thoughts on the economy and recession. As I am typing this, I’m thinking about how much ink I should be spilling on writing about the recession and how much time we, as investors,…
I don’t know when I graduated to giving job-seeking advice. However, I know that my scribbles are read by a lot of students and their parents, so I thought I would share this with you. 📩 Sign up for my free weekly email newsletter 🎙…
I’ve attended the Berkshire Hathaway Annual Shareholders meeting for over a decade. Here is what I learned in 2023. 📩 Sign up for my free weekly email newsletter 🎙 Check out my weekly podcast, The Intellectual Investor. 📚 GET MY…
Many investors, including our clients, have been worried about their Schawb account safety. Are they right to be worried? 📩 Sign up for my free weekly email newsletter 🎙 Check out my weekly podcast, The Intellectual Investor. 📚 GET…
I have vague first memories of playing chess with my grandfather when my family visited my father’s parents in Moscow. I was five years old. As I look back, chess gently came in and out of my life in the years since. Though I always admired chess…
The fourteen-year-old Jonah could not sit through the annual meeting; he was preoccupied with anything and everything but Buffett’s and Munger’s wisdom. After coming with me to Omaha eight years ago, Jonah never asked to go back, until last year….
Bailouts of the banking system create social tension. Eventually, bailouts introduce so much risk into the system that failures and bailouts become too costly for the society to bear, government creates draconian rules trying to prevent them in…
Silicon Valley Bank (SVB) may be an extreme example, but it gave us a preview at a 100x magnification of what many banks are facing today. SVB is also a sad demonstration of how volatile deposits are. SVB was awash with deposits from its customers,…
This is part one of the winter seasonal letter I wrote to clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before. Instead of conveying my message through storytelling, I tried to compress my…
Bailout of the banking system create social tension. Eventually, bailouts introduce so much risk into the system that failures and bailouts become too costly for the society to bear, government creates draconian rules trying to prevent them in future, which in turn kills innovation and the formation of new businesses, and the result is a stagnating economy.