That was the quote from investor Jeremy Grantham (of GMO fame) in an interview with Advisor Perspectives published 10/22/2020. That we...

In our 2Q letter to clients I tried to highlight the activity we see today (mostly related to the pandemic) as opposed to the long-term...

A global pandemic. Six months and many changes to lives and culture later, the experience is not that different. While the shock,...

On April 24 we sent a note to clients called "Wartime CEO." The title was in reference to the term used by Ben Horowitz in his book "The...

In the midst of some recent investing research, I decided to take a look at the inflation experience of the United States in the 1940s...

For some time, I've been writing and talking about my concern with the economic path we're walking, the growing role of the U.S. Federal...

"Be good to each other." As I've watched the events of the last month unfold in the US and around the world in the wake of the killing...

Hat tip to one of our clients for sharing a report last weekend from the Imperial College of London COVID-19 Response Team. Naturally,...

As clients and readers know, we've long followed the general investing principles of Ben Graham and his mentee Warren Buffett (noted on...

Last night my 10-year-old son and I were reading the book White Bird together, which is a grandmother's retelling of her experiences as a...

I want to note the remarkable work being done by healthcare professionals across the U.S. Their courage is inspiring given the...

Some of the initial shock of the Covid-19 pandemic is beginning to abate. "Deer in the headlights" moments are beginning to give way to...

It's always interesting to see the avalanche of communication from money managers and advisors every time a sufficiently large number of...

In our last piece we discussed the role and responsibilities of a business CFO. We said that the business CFO has two main jobs: first,...

The Personal CFO for Entrepreneurs. What does that mean? Well, we view the work we do with entrepreneur families as that of a Personal...

Actually, “the world has gone mad and the system is broken.” That’s the title of an article(1) published by Ray Dalio (Co-Chairman of...

We had an extremely busy last two months of 2019, and unfortunately writing activities had to be put on hold. But I'm looking forward to...

In our business and investing commentary to clients this month we highlighted the dramatic impact that low interest rates and Federal...

For the selling or ceding business owner, few considerations are as important - but receive so little attention - as PCT. Purpose....

Rationality is one of the most important qualities in entrepreneurs. With a hat tip to investor Vitaliy Katsenelson, none of your skills...