Vigilance in 2023

Benjamin Graham’s seminal work, “Security Analysis,” starts with this foreboding quote by the Roman philosopher, Horace: “Many shall be restored that now are fallen and many shall fall that are now in honor.” Graham lost everything during the Great Depression, so it is no wonder that he highlights the staggering reversal of fortunes that canContinue reading “Vigilance in 2023”

Culture eats Strategy for Breakfast!

Peter Drucker is noted for saying, “Culture eats strategy for breakfast.” In our Goldman Sachs 10KSB meeting today, we talked about what that means. To help me understand this, I made the analogy that culture is like Commander’s intent in the Marine Corps. The Commanding Officer might say “take that hill.” What he doesn’t doContinue reading “Culture eats Strategy for Breakfast!”

Staying on the Court

I remember reading some partnership letters from Nick Sleep and Zak Zakaria’s Nomad Fund. In one of them, a shareholder was complaining about a particular investment that Nomad ventured into which was based in Zimbabwe. The shareholder’s main complaint? That Zimbabwe did bad things and it was immoral to support any investment in that country.Continue reading “Staying on the Court”

The Problem with Being Too Busy to Read

In my time as a Marine and in business, I’ve often come across young leaders that say things like, “Reading is just not for me,” “I don’t like reading,” or “I’m too busy to read.” In the Marine Corps, each rank from entry level enlisted all the way up to General has their own readingContinue reading “The Problem with Being Too Busy to Read”

It’s Your Ship

A couple years ago, I read Captain Mike Abrashoff’s book, “It’s Your Ship: Management Techniques from the Best Damn Ship in the Navy.” It came highly recommended from my mentor and I eventually received executive coaching from Captain Abrashoff’s performance company, Aegis. Captain Abrashoff committed to taking the worst operational ship in the Navy andContinue reading “It’s Your Ship”

Breath

Breath. It’s pretty surprising to find out after decades of breathing that you might be doing it wrong! That’s what happened to me when I discovered James Nestor’s book “Breath.” I always thought that breathing out of your mouth when you were doing strenuous exercise was a sign of how hard you’re working, a pointContinue reading “Breath”