June 4, 2021

Counting the Cost of Capital and Seeding Network-Based Accounting

Your potential alpha isn’t just where the map differs from the territory. It’s where the map differs from the territory and where other investors are misusing that map.

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April 6, 2021

Refreshing Revenue, the Cash Conversion Cycle, and Free Cash Flow

GAAP sometimes misrepresents business reality. Let’s use that fact to generate some alpha.

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March 6, 2021

How Alpha Hides in GAAP Accounting

The market may be a weighing machine in the long run, but it sure helps to know when someone is putting a thumb on the scale.

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