Letters · Nov 2022 
Eleanor Vance · 3 min read Philosophy · Sept 2022 
Marcus Idowu · 5 min read Companies · Aug 2022 Marcus Idowu · 4 min read Markets · May 2022 
Sofia Reinholt · 4 min read Companies · Mar 2022 Sofia Reinholt · 5 min read Philosophy · Dec 2021 Eleanor Vance · 3 min read Philosophy · Sept 2021 Marcus Idowu · 4 min read Companies · Jun 2021 Sofia Reinholt · 4 min read Philosophy · Mar 2021 Marcus Idowu · 3 min read
Why we write more than we trade
Writing is how we find out whether we actually understand something.
Eleanor Vance · 3 min read Philosophy · Sept 2022 Mistakes we've made, and what they cost
An honest inventory. The errors of omission hurt the most.
Marcus Idowu · 5 min read Companies · Aug 2022 The switching cost moat
The most durable advantage is often the most boring. It is a hassle to leave.
Marcus Idowu · 4 min read Markets · May 2022 Inflation and the businesses that shrug
Which companies pass it straight on, and which quietly drown in it.
Sofia Reinholt · 4 min read Companies · Mar 2022 What a good annual report tells you, and what it hides
We read the footnotes first. That is where the company stops performing.
Sofia Reinholt · 5 min read Philosophy · Dec 2021 Alignment is the whole strategy
We invest our own money in the same holdings, on the same terms. That is the design.
Eleanor Vance · 3 min read Philosophy · Sept 2021 The case against diversification
Owning everything is a confession that you can't tell the difference.
Marcus Idowu · 4 min read Companies · Jun 2021 Dividends, discipline and compounding
A dividend is a promise. We care most about what it does to behaviour.
Sofia Reinholt · 4 min read Philosophy · Mar 2021 On position sizing, and sleeping at night
How much to own is a question about temperament as much as analysis.
Marcus Idowu · 3 min read