Early Life and Family Influences In the first post in this series, I wrote a bit about how I encountered Warren Buffett’s investment philosophy as an undergraduate student (read it here). In this post, I discuss Warren Buffett’s early years and some of the influences that shaped his early career. Warren Buffett was born on
Reflections on Warren Buffett’s Career: Early Influences Read More »
Part One: Early Influences, Long-Term Discipline, and Learning to Think About Business Why Reflect on Warren Buffett Now On January 1st, 2026, Warren Buffett officially stepped down as the CEO of Berkshire Hathaway, Inc., the sprawling conglomerate and investment holding company that Buffett, alongside his late partner Charlie Munger, built up over five decades. As
Reflections on Warren Buffett’s Career Read More »
The Russell 2000 is an index managed by FTSE Russell, which consists of companies with smaller market capitalization and is thus considered a “small cap” index. The term “small cap” is somewhat of a misnomer. Although there is no official definition, in the investment industry the term “small cap” generally refers to companies with market
The Russell 2000: Understanding Stock Indices Read More »
Unlike the other indices, (S&P 500 and Dow Jones Industrial Average), the NASDAQ Composite Index consists only of stocks that trade on the NASDAQ. A brief review of the NASDAQ exchange is thus a good place to start. New to investing? Start with our guide to fundamental investing. Brief History of the NASDAQ In 1938,
The NASDAQ Composite Index: Understanding Stock Indices Read More »
What Is the Dow Jones Industrial Average? In 1896, Charles Dow and his associate, statistician Edward Jones, both co-founders of the financial publishing firm Dow Jones and Company, created an index of industrial companies. This index was the second stock market index ever created, as Dow had created a transportation index twelve years earlier. How
The Dow Jones (DJIA): Understanding Stock Indices Read More »
Before diving into the S&P 500, it’s worth taking a step back to understand what a stock index really is and why it matters. From how they’re constructed to what they actually represent, indices form the foundation of nearly every market conversation — and every investor’s frame of reference. If you’re new to investing, start
The S&P 500: Understanding Stock Indices Read More »
When Momentum Cuts Both Ways Tuesday’s gold selloff highlights a feature of markets that too many people forget: momentum works both ways. Gold has had one of its best years since it was demonetized in 1971. On the spot market—where gold is purchased for immediate delivery—prices have risen from roughly $2,600 at the beginning of
Gold’s Momentum Trade: Why Prices Are Rising — and Falling — Faster Than Ever Read More »
A Timely Book for Investors A few times a year, a book comes out that makes this middle-aged bookworm as excited as a kid on Christmas morning. October 14th, 2025, Andrew Ross Sorkin’s new book, 1929: Inside the Greatest Crash in Wall Street History – and How it Shattered a Nation, was released. I practically
The Lessons of 1929: Why Andrew Ross Sorkin’s New Book Matters Now Read More »
“Ignoring the Macro” Can Be Misleading Value investors invest in businesses, not markets. Accordingly, many investors take pride in “ignoring the macro and focusing on the micro.” In my opinion, investors shouldn’t take this adage too literally. I’ve seen too many financial market blowups to think that “ignoring the macro” is a good idea. The
Macro Risks: Why Smart Investors Pay Attention to the Bigger Picture Read More »
In a previous blog post, The Risks of Financial Leverage in Small Business Acquisitions, I discussed the increased number of online influencers. They are promoting small business acquisitions as a path to creating wealth. While there are plenty of entrepreneurs who have become very wealthy acquiring small businesses, these deals are not without risk. Influencers
Small Business Acquisition – The Management Factor Read More »
