Investor Letters
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- Second Quarter 2026 Poker and Investing July 17, 2026
- First Quarter 2026 The War with Iran April 24, 2026
- Fourth Quarter 2025 Automation Project Update January 28, 2026
- Third Quarter 2025 October 27, 2025
- Second Quarter 2025 Henry Ford July 18, 2025
- First Quarter 2025 Trade War 2.0 & Semler Scientific April 11, 2025
- Fourth Quarter 2024 Portfolio Changes January 17, 2025
- Third Quarter 2024 Stock-Based Compensation October 11, 2024
- Second Quarter 2024 Valuation July 12, 2024
- First Quarter 2024 Kehlet Capital April 5, 2024
- Fourth Quarter 2023 Charlie Munger January 12, 2024
- Third Quarter 2023 Automation Project October 13, 2023
- Second Quarter 2023 ChatGPT July 14, 2023
- First Quarter 2023 The Banking Crisis April 14, 2023
- Fourth Quarter 2022 Lessons Learned January 16, 2023
- Third Quarter 2022 Our Top Three Holdings October 17, 2022
- Second Quarter 2022 Are We Going Into Recession? July 15, 2022
- First Quarter 2022 The Case for Bitcoin April 22, 2022
- Fourth Quarter 2021 Investing Framework, Part III January 18, 2022
- Third Quarter 2021 Investing Framework, Part II October 11, 2021
- Second Quarter 2021 Investing Framework, Part I July 9, 2021
- First Quarter 2021 Are We in a Bubble? April 9, 2021
- Fourth Quarter 2020 Bitcoin Revisited & Healthcare January 15, 2021
- Third Quarter 2020 Intro to Bitcoin October 9, 2020
- Second Quarter 2020 Wireless 5G July 10, 2020
- First Quarter 2020 COVID-19 April 13, 2020
- Fourth Quarter 2019 Trade War with China January 10, 2020
- Third Quarter 2019 Artificial Intelligence October 11, 2019
- Second Quarter 2019 Inflation July 12, 2019
- First Quarter 2019 Investment Metrics April 12, 2019
- Fourth Quarter 2018 Intrinsic Value January 11, 2019
- Third Quarter 2018 Finding Investment Ideas October 12, 2018
- Second Quarter 2018 Lessons from Netflix July 13, 2018
- First Quarter 2018 Introduction April 6, 2018