Mail Bag: How Would You Convert a Pile of Money Into Passive Income?
Here’s a good question for beginners about how one might think about converting an asset base, or pile of cash, into a stream of passive income.
Book Recommendation: Common Stocks and Uncommon Profits by Philip A. Fisher
In 1958, one of the most influential investors in history, a man by the name of Philip A. Fisher, published his masterpiece, which you can still get today. Unlike virtually all other voices in the financial markets at the time, Fisher proposed that an investor should find a handful of really high quality firms, pay…
Morningstar Is Getting Closer On Its Intrinsic Value Figure for Berkshire Hathaway
It’s been 1-2 years since we talked about the intrinsic value of Berkshire Hathaway. The last time I publicly commented in any meaningful way was to say that I thought Morningstar was wrong in its model. This put me in the interesting position that rarely happens: I thought intrinsic value was higher than the analysts who were publicly writing about it. Normally, I’m the one exclaiming that the estimates and variables used were too rosy.
Business Strategy: The Best Weapon Is One Your Enemies Don’t Know Exists
One of the most useful business strategies, and life strategies, I know has to do with stealth projects, stealth accomplishments, and stealth resources. The strategy can be useful for games, in your own company, or in your own family. Showing you how it works might be the easiest way to explain it. Last night, Aaron…
The 5 Levels of Building Wealth
Early in life, I developed a theory that there were five levels of building wealth that most self-made men (and women) go through to reach financial independence. The theory began due to my love for Carl Barks Scrooge McDuck comics.
What The Rich Really Collect
Everyone focuses on the stuff the rich people collect. Yet, the biggest secret is that the rich are really collectors of rents, royalties, dividends, and interest. Whether song rights, hotel ownership, businesses, sales commissions, stocks, timberland, or patents, these are the things they truly amass.