Sources of Enduring Business Success

One of the biggest advantages that individual investors have is their ability to maintain a long-term time horizon. Professional investors can take advantage of this edge as well, but few do. I’ve long believed that the modern day advantage in markets is not...

A Discussion on Facebook

A couple weeks ago, I was on The Investors’ Podcast with Stig Brodersen and Preston Pysh to talk about Facebook. We discussed Facebook’s business model, the digital advertising industry, and the potential antitrust headwinds that the big tech companies are...