November 25, 2020

Your Equity is a Product

Idea Machines Podcast


Alpha-Generating Accounting

January 10, 2021

Counting the Cost of Capital and Marking Equity to Market

Your alpha opportunity is not just where the map differs from the territory.

January 7, 2021

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

Like it or not, companies are judged by flawed standards. Let’s start with revenue recognition, the cash conversion cycle, and free cash flow.

January 5, 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.

How Passive Works

August 2, 2020

Alpha in a Passive World

There is a tide in the affairs of capital markets, which, taken at the flood, leads on to fortune.

July 26, 2020

The QDIA Aircraft Carrier & How Target-Date Funds Sustain It

Architecture is destiny.

July 19, 2020

How US Retirement Savings Defaulted to Passive Investing

Defaults may be the most powerful force in product design.

Wealth Ownership

October 6, 2020

Note to a Newly Liquid Entrepreneur

How investments can go wrong, and how to avoid the worst mistakes.