Serious investment thinking that doesn’t take itself too seriously.
“Phil, I’m a melting ice cube.” I was having lunch with a friend who holds a senior position at a large, dull asset manager. “Nothing works anymore. Nothing. Not on the portfolio...
Is the REIT a solution to real estate capital markets woes? The capital markets are a miracle. Global capital markets are a miracle. But let’s focus on the biggest and best of...
The best thing about entrepreneurship is you’ve got no boss. The worst thing about entrepreneurship is you’ve got no boss. Boss is a terrible word. Mentor is a better word, but...
Silicon Valley Bank was at the right place, at the right time. We’re talking one-in-a-million here. SVB was founded in 1983 in Santa Clara, California, to provide financial services to technology and VC-backed companies.
Bezos, Google's AI debacle, and how constraints rather than resources drive innovation. Money was tight. It’s hard to even imagine it this day and age, but it’s true. On Wall...
$120,000 for a banana. This was December, 2019, at Art Basel in Miami. An Italian artist duct taped a banana to the wall. It sold for $120,000. The state of modern art, ladies...