Our weekly newsletter provides a brief snapshot of issues we have been working on internally, research topics we have been pursuing, or interesting articles or media that have come across our desk and impacted our thinking.
December 6, 2019

Weekly Thoughts: Operator vs. Investor

Here is something that caught our eye this week: Operator vs. Investor What is Chenmark? This week we had the privilege to spend time with some graduate students talking about Chenmark’s strategy.  A central part of the discussion pivoted around whether we are operators or […]
November 21, 2019

Weekly Thoughts: Mother Runner

Here is something that caught our eye this week: Mother Runner How to win despite having no time or resources  We recently enjoyed a New York Times article about Katie Arnold, winner of the 2018 Leadville 100, a notoriously difficult ultra-marathon.  Held annually in Leadville, Colorado, the race covers […]
November 11, 2019

Weekly Thoughts: The Bait and Tackle Shop

Here is something that caught our eye this week: The Bait and Tackle Shop Just because something cannot scale does not mean it cannot earn outsized returns  We recently came across an investment opportunity that reminds us of the proverbial bait and tackle shop. While […]
November 8, 2019

Weekly Thoughts: Stealing the Sourdough

Here is something that caught our eye this week: Stealing the Sourdough Our approach to sharing information Back in our hedge funds days, it was important that the individual positions owned by our funds were held in the upmost secrecy.  We could be the closests of […]
October 28, 2019

Weekly Thoughts: Technical Debt

Here is something that caught our eye this week: Technical Debt Deliberate, Inadvertent, Reckless and Prudent We recently had an interesting conversation about Technical Debt with a rep from one of our industry ERP vendors.  In software development, coders will often take short cuts in the way they […]
October 28, 2019

Weekly Thoughts: Perfect Conditions

Here is something that caught our eye this week: Perfect Conditions We still heart Eliud Kipchoge Last fall, we wrote about our admiration not only for Eliud Kipchoge’s running accomplishments (“Kipchoge broke the official marathon world record last weekend, finishing the Berlin marathon in 2:01:39, a full […]