Writing


The Craziest Thing You May Ever See in Markets

If you’re around markets long enough, you’re bound to see some crazy things. Manias. Crashes. Negative interest rates. Negative crude oil. The list goes on and on. But what we saw this week in something called the Litecoin Investment Trust ($LTCN) just may be the craziest thing you will ever see. The trust closed on […]

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Every Time is Different

Studying market history is a worthy endeavor for investors. It can provide instructive parallels, much needed context, and reassurance during difficult times that “this too shall pass.” Problems arise, however, when one assumes that the range of possible outcomes in the future are limited to what has happened in the past. There is no better […]

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8 to 80 Spotlight: Spotify

A new series covering companies in the Compound 8 to 80 Portfolio… 1) Why is Spotify an 8 to 80 Brand? With 320 million monthly active users and 144 million subscribers, Spotify is available in 92 countries and used by people of all ages. At 35% market share, Spotify is currently the world’s biggest music streaming […]

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5-Chart Friday (11/20/20)

5 charts from the past week that tell an interesting story in markets and investing… 1) Vaccine Déjà Vu For the second week in a row, amazing vaccine news came at the start of the week, this time from Moderna (phase 3 trial showing its vaccine reduced risk of infection by 94.5%). Moderna’s stock ($MRNA) […]

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Bitcoin, Bubbles, and Belief

The is a story about belief. But first, let’s do a little time traveling… 1) It’s July 2010. Bitcoin is trading at 5 cents. What’s a Bitcoin? 2) It’s February 2011. Bitcoin is trading at $1.10, a 2,100% increase in 7 months. This is what the chart looks like… What’s the first word that comes […]

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What Happens When High Yield Becomes Low Yield?

In December 2008, as the “world was ending,” US junk bonds hit a record high yield of 23.26%. Forecasts of financial Armageddon were widespread, and few could envision a scenario in which subordinated bondholders would receive anything but pain. Note: throughout this post, we use the ICE BofA US High Yield Index as the high […]

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Welcome to the Compound Book Club

“A reader lives thousand lives before he dies. The man who never reads lives only one.” – George R.R. Martin A few years ago I started a book club with a few friends in town. Each month we gather to discuss a different book, but the conversations always meander between books, work, family, parenting, and […]

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8 to 80 Spotlight: Google

A new series covering companies in the 8 to 80 Portfolio… 1) Why is Google an 8 to 80 Brand? “Just google it.” A phrase that has become synonymous with finding the answer to any question imaginable. Google is now estimated to control over 90% of the world’s search market, used by people of all ages. […]

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5-Chart Friday (11/13/20)

5 charts from the past week that tell an interesting story in markets and investing… 1) Vaccine Reversal The big news this week came early on Monday with reports of 90% effectiveness in Pfizer’s covid-19 vaccine. The initial reaction was a massive reversal in the “covid trade” with companies hurt most by the virus rallying […]

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8 to 80 Spotlight: Amazon

A new series covering companies in the 8 to 80 Portfolio… 1) Why is Amazon an 8 to 80 Brand? Launched as a bookseller in 1995, Amazon has grown to become one of the most influential companies in the world, used by people of all ages in all walks of life. “I’ll just buy it on […]

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