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Listen on: iTunes | Google Podcasts | Online I had a deep, existential, meaning-of-life type of conversation with a friend of mine, another value investor. I asked him, do you want Warren Buffett’s success? He was somewhat stunned by the question, and asked: “Is that a rhetorical question?” It was not. I told him about a nugget of Jewish wisdom […]
Listen on: iTunes | Google Podcasts | Online It all started after Hannah watched The Queen’s Gambit for a homework assignment. She told me I had to watch it. I did. I loved it. But then Hannah said, “Dad, let’s play chess.” Okay, I have to pause and rewind. I grew up in Russia, where chess was a spectator sport, […]
Listen on: iTunes | Google Podcasts | Online The market is up a lot; it is expensive. Should we be selling? This is the number one question we’ve been getting from clients. So, should we? We’ll give you several answers. We agree that the market is expensive. In fact, a few months ago we compared the euphoria and speculative mood […]
Listen on: iTunes | Google Podcasts | Online Four times a year I write letters to IMA clients. In these letters I diligently walk clients through our research on stocks we own, including those we have recently bought and sold. I cover how we value them, why we own them, etc. I update clients on our thoughts on the economy […]
Listen on: iTunes | Google Podcasts | Online “When you arise in the morning think of what a privilege it is to be alive, to think, to enjoy, to love …” -Marcus Aurelius As I look at 2020, I have very conflicting feelings. On one hand, the year was horribly tragic for many people who lost loved ones and businesses. […]
On Monday my 14-year old Hannah asked me to teach her how to use Google Sheets. She is working on the budgeting project in her entrepreneurship class. This was one of the top five moments for me in 2020. Usually when kids come to me with homework, I feel slightly terrified. I was not a […]
Listen on: iTunes | Google Podcasts | Online My son Jonah’s dream since he was seven years old and I took him to CU Buffs games had been to get accepted to CU Boulder. However, a girl broke his heart in 11th grade; his grades suffered; and though they improved drastically in his senior year, his GPA was ruined, and […]
Listen on: iTunes | Google Podcasts | Online Santa Fe and my family go way back to the early 90s. It all started with my father and my stepmother. My father had his paintings exhibited in a gallery on Santa Fe’s famous Canyon Road. A few times a year, they would load up paintings in a minivan and drive them […]
Listen on: iTunes | Google Podcasts | Online I was reading Ryan Holiday’s Stillness Is the Key and stumbled on this quote from the Greek philosopher Epictetus: “Most of us would be seized with fear if our bodies went numb, and would do everything possible to avoid it, yet we take no interest at all in the numbing of our […]
Listen on: iTunes | Google Podcasts | Online I loved spending the last two months at home. What made this time special was that I got to spend it with my whole family. In 2019 my son Jonah graduated from high school and went to Israel for a gap year. While in Israel he took classes at American Jewish University, […]
