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February 4, 2026
A Note on Private Investment
Understanding the landscape of the pre-IPO market starts with a review of costs, and caution in general.
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Understanding the landscape of the pre-IPO market starts with a review of costs, and caution in general.
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Housel is back with another great book, and he’s leaning heavily on Charlie Munger (a wise choice).

Some equities are expensive, but some are not. You have to know where to look.

2025 Capital Market Performance

Q4 2025 Performance and Timeline of Events
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2025 has provided an excellent lesson in avoiding the temptation to predict from where market returns will come.