Letters
Long-form reflections on compounding, behavior, and rational investing. Quiet, timeless essays designed to compound your understanding—not your anxiety.
What Most Get Wrong About Compounding
Published: Jan 2026 · 7 min read
A foundational look at why most investors never experience true compounding—and how to build the patience required for exponential growth.
CompoundingThe Temperament Advantage
Published: Jan 2026 · 6 min read
Your behavior matters more than your stock picks. This letter explores why temperament—not intelligence—is the true edge.
BehaviorThe Discipline of Doing Less
Published: Jan 2026 · 5 min read
Why inactivity is a superpower in investing—and how doing less can dramatically improve long-term results.
DisciplineInversion: Avoiding the Obvious Errors
Published: Dec 2025 · 8 min read
Instead of asking how to succeed, ask how to avoid failure. This mental model prevents more mistakes than any optimization strategy.
Mental Models InvestingThinking Like an Owner, Not a Trader
Published: Dec 2025 · 6 min read
The shift from trader to owner changes everything. When you own a business (not a ticker), your time horizon extends and your behavior improves.
Investing BehaviorThe Discipline Premium
Published: Nov 2025 · 7 min read
Markets reward discipline with a premium that compounds over decades. This letter explores why consistent behavior beats brilliant insights.
Discipline CompoundingNever Miss a Letter
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