More than 50 things I learned about markets — Each year I do this, I’m reminded of how little I actually know. I think it’s important to accept and reflect on that reality. Someone recently said to me, “every time you meet someone, they know something you don’t.” …

Could you have predicted the rise of the cellphone? — In 1980, one of the best consulting firms in modern America was approached by AT&T. At the time, AT&T was an absolute powerhouse. In market speak, it was a blue chip. Or a FANG. The same way we think about Apple or Google today is what AT&T was back then…

A note about the stock market on this wonderful October day, 2018. — I imagine all the young techies seeing the markets today. In New York City and San Francisco, they are checking their portfolios saying, “damn Netflix actually went down today?” “Wait a second, the Nasdaq can fall that much?” If you’re 29-years-old, your first job started in 2011 or 2012. That…

I have no idea, but Buffett may have it figured out and it’s all about trust. — Most know Warren Buffett as an investor. Or a billionaire. But what’s often forgotten is that he is a manager. His company, Berkshire Hathaway, owns and operates more than 60 individual companies. Those 60+ companies have about 330,000 total employees. I have no idea how you manage that many employees…

Larry Bird, Jordan, and more. — I’m watching footage of Larry Bird in a 3-point shooting contest. It’s the all-star game weekend. I always forget how great it is to see how far we’ve come in terms of style in the NBA. The 3-point shooting contest is one of my all-time favorite events. Let’s place all…

Apple was the first publicly traded US company to have a market cap of $1 trillion. As technology, markets, and economies progress, the valuations of companies sometimes do the unthinkable. Warren Buffett maybe said it best: “Today’s babies are the luckiest crop in history.” A lot of people talk about…

The whole game has changed. — I remember talking about the stock market with my grandfather. He would tell me things about reading quarterly reports or potentially seeing the names of the stocks he owned in the newspaper. If you wanted information about a company, you had to wait. Imagine trying to explain this to a…

There is no such thing as easy and fast money. — Hedge fund legends are making billions! Day traders are telling you to get lambos and lobster you need to be a master at markets. Trading stocks, crypto, anything from soybeans to crude oil, people everywhere seem to think that this is the way to quick riches in markets. …

Growing up, I played a lot of little league. I was a pitcher on my little league teams. On the mound I would get distraught when I couldn’t throw strikes and pleased with myself when no one could go near my fastball. …