Apple is the best storytelling company on the planet. In its storytelling, Apple so wants you to fall in love and have an emotional connection with its product that it even names the parts that go into it.
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, should be allocating to thinking and worrying about it.
A 22-year-old daughter of a friend, for the first time in her life, has hit a brick wall. I told her that, as frustrating as her life may seem right now, she is having a good problem; and happiness in life comes from having good problems.
My favorite line from Charlie Munger was: “Practicing law today is like a pie-eating contest, where if you succeed, you get to eat more pie.”
With Hannah’s passion for chess growing and the lockdowns easing, we discovered the wonderful world of chess meetups.
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.
Many investors, including our clients, have been worried about their Schawb account safety. Are they right to be worried?
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.
The Silicon Valley Bank collapse may be an extreme event, but it gives us a preview at a 100x magnification of what other banks are facing.
This is part one of the winter seasonal letter I wrote to IMA clients, sharing my thoughts about the economy and the market. I tried something I’ve never done before.…