Update: I've become a trillionaire
December 9, 2024 Dear Reader, I believe it's alright not to like Bitcoin. Plenty of people despise it — including Warren Buffett and his late business…
The Benchmark
A weekly letter on money, markets and history, for investors whose interest goes deeper than the share price.
Archive · page 4
How I write The Benchmark
December 2, 2024 Dear Reader, Something different this week. I've been writing in the financial world for more than a decade.
The $70K superchip eating software
November 25, 2024 Dear Reader, These days it feels like nobody can shut up about NVIDIA. Especially this past week, when the current stock market darling…
Buffett hoards cash as 'Trump Bump' hits markets
November 18, 2024 Dear Reader, I wrote to you recently about an oft-overlooked Austrian economist who believed that every stock purchase was not just a bid…
Underground wealth (what I learned ignoring the US election)
November 11, 2024 Dear Reader, The U.S. election has been and gone. Given that, by my estimate, probably 75% of the emails in your inbox over the past week…
The perfect tax rate doesn't exist, or does it?
November 4, 2024 Dear Reader, The Cayman Islands. Bermuda. The British Virgin Islands. You've probably heard about such jurisdictions on account of their…
Print money. Enforce its use. Destroy your economy.
October 28, 2024 Dear Reader, You've probably heard of John Maynard Keynes and Adam Smith, right?
Why this bull market might have 200 days left
October 21, 2024 Dear Reader, As we drift deeper into the final quarter of 2024, three financial phenomena are colliding.
The South Sea Bubble that ruined an entire society's wealth
October 14, 2024 Dear Reader, If I told you there was a company whose objective was to wipe out national debt, and that I'd secured a trade monopoly with a…
The more crashes, the better...
October 7, 2024 Dear Reader, Seth Andrew Klarman is a billionaire. The private investment partnership he founded in 1982 has realized a 20% compounded…
Rate cut rally & weird election year market facts
September 23, 2024 Dear Reader, Three financial phenomena are colliding. In the final quarter of 2024, we'll find out who's going to run the United States…
The other Great Depression
September 16, 2024 Dear Reader, Most people think the Great Depression started with Wall Street's notorious 1929 crash.
