Offshore
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Fiscal.ai
The largest e-commerce company in South Korea is trading near its lowest forward multiple ever.
Forward EV/EBITDA: 19.3x
$CPNG https://t.co/c4d5RHJ5Bp
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The largest e-commerce company in South Korea is trading near its lowest forward multiple ever.
Forward EV/EBITDA: 19.3x
$CPNG https://t.co/c4d5RHJ5Bp
tweet
Offshore
Video
EndGame Macro
Page 1.
The Crisis Isn’t the Cause…It’s the Cover
One of the hardest truths in financial history is that governments rarely admit when the system is breaking. Instead, they wait for a story big enough to justify the kind of intervention that would otherwise look reckless. Wars, pandemics, and national security crises often become that story.
Look closely at the past century and a pattern emerges. The financial plumbing is already strained, credit bubbles overextended, currency pegs fraying, leverage piled too high and policymakers face a problem: how to inject massive liquidity without spooking markets or losing political credibility. Then comes the event. A geopolitical shock, a war, or a health crisis gives them cover to do what they couldn’t do in calm times: flip the switch, flood the system, and rewrite the rules in the name of survival.
Think back to the great turning points. In 1914, the gold standard was already cracking before World War I gave governments the excuse to suspend convertibility and unleash bond financed spending. In 1940, the U.S. was still clawing out of depression when WWII allowed Roosevelt to blow out deficits and normalize Fed monetization of Treasury debt. In the late 1960s, Vietnam spending plus domestic programs strained the dollar, but only once the war escalated did policymakers have the justification to tear up Bretton Woods in 1971. After 9/11 and the Iraq War, the U.S. used national security spending as the story, while Greenspan’s Fed quietly opened the spigots to cushion a financial system still reeling from the dot com bust. And in 2020, COVID-19 became the perfect excuse for an unprecedented global money printing campaign, arriving just as repo markets and corporate debt were already flashing stress in late 2019.
The details differ, but the sequencing rhymes. The financial system shows cracks first. Then an event arrives that allows governments to act on a scale they otherwise couldn’t. Liquidity surges are justified as emergency responses, but in practice they are often preemptive rescues of fragile balance sheets.
This isn’t to say the events aren’t real, they are. Wars kill, pandemics devastate, geopolitical shocks reshape the world. But for students of monetary history, the question is whether the timing of interventions is driven only by the events, or also by what was already happening beneath the surface. Were the events the trigger or the excuse?
That’s the pattern I want to explore. When you line up the last century’s great liquidity waves with the geopolitical crises that accompanied them, you start to see that the narrative and the financial mechanics are inseparable. Policymakers need a cover story. And history suggests that the biggest liquidity expansions often arrive not just because of the event, but because the system was breaking beforehand.
tweet
Page 1.
The Crisis Isn’t the Cause…It’s the Cover
One of the hardest truths in financial history is that governments rarely admit when the system is breaking. Instead, they wait for a story big enough to justify the kind of intervention that would otherwise look reckless. Wars, pandemics, and national security crises often become that story.
Look closely at the past century and a pattern emerges. The financial plumbing is already strained, credit bubbles overextended, currency pegs fraying, leverage piled too high and policymakers face a problem: how to inject massive liquidity without spooking markets or losing political credibility. Then comes the event. A geopolitical shock, a war, or a health crisis gives them cover to do what they couldn’t do in calm times: flip the switch, flood the system, and rewrite the rules in the name of survival.
Think back to the great turning points. In 1914, the gold standard was already cracking before World War I gave governments the excuse to suspend convertibility and unleash bond financed spending. In 1940, the U.S. was still clawing out of depression when WWII allowed Roosevelt to blow out deficits and normalize Fed monetization of Treasury debt. In the late 1960s, Vietnam spending plus domestic programs strained the dollar, but only once the war escalated did policymakers have the justification to tear up Bretton Woods in 1971. After 9/11 and the Iraq War, the U.S. used national security spending as the story, while Greenspan’s Fed quietly opened the spigots to cushion a financial system still reeling from the dot com bust. And in 2020, COVID-19 became the perfect excuse for an unprecedented global money printing campaign, arriving just as repo markets and corporate debt were already flashing stress in late 2019.
The details differ, but the sequencing rhymes. The financial system shows cracks first. Then an event arrives that allows governments to act on a scale they otherwise couldn’t. Liquidity surges are justified as emergency responses, but in practice they are often preemptive rescues of fragile balance sheets.
This isn’t to say the events aren’t real, they are. Wars kill, pandemics devastate, geopolitical shocks reshape the world. But for students of monetary history, the question is whether the timing of interventions is driven only by the events, or also by what was already happening beneath the surface. Were the events the trigger or the excuse?
That’s the pattern I want to explore. When you line up the last century’s great liquidity waves with the geopolitical crises that accompanied them, you start to see that the narrative and the financial mechanics are inseparable. Policymakers need a cover story. And history suggests that the biggest liquidity expansions often arrive not just because of the event, but because the system was breaking beforehand.
tweet
Offshore
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Giuliano
2025 was not the best year reading-wise, but recapping should help me learn and improve.
These were my reads/studies during the year and a short takeaway from each:
- The Great Gatsby.
Peak literature, or very close thereto.
- The Intelligent Investor.
This is the second time I study this. Masterful work and overview of the investment field and sound ideas to approach it.
- Silent Spring.
Environmental consequences of our abuse of fertilizers and why our mistreating the earth is hurting ecosystems. (1970s)
- The Grapes of Wrath.
There's an idea in the preface I'll forever remember: 'I'm assailed by my own ignorance. No one knows how ill-suited and lazy my mind really is aside from me. I constantly combat this'. (Steinbeck - Nobel laureate).
At times, this book cuts deep.
- Lessons from the Titans.
How little gains in efficiency, better operations, and getting the broad picture right can lead to huge success. You don't need to create the iPhone to do well in business. Similar to The Outsiders.
- The Screwtape Letters.
A very clever way to write about how to live well and not drift toward hell. Can't remember many details though.
- Built From Scratch (Home Depot autobio).
Best business biography I've ever read. All of the ideas I might've read about, these guys applied to build a $300bn company. An astounding number of insights as to how to sensibly run an organization.
- The Art of Power (Jefferson bio).
Amazing individual and politician. Potential role model in so many ways. Extremely cultivated and likeable person, deep thinker across the board, and a doer.
- The Life and Selected Writings of Jefferson.
I needed to dive deeper into his ideas. His writings give a sense of how much he cared and thought about matters related to the soul. Jefferson reminded me of Oppenheimer.
- A Man for All Markets (Thorp bio).
Brilliant individual, but I didn't like the writing. Some ideas I can't get out of my mind: (1) Tweaking a problem slightly can turn it from impossible to possible; (2) Education is software for the brain; (3) "If I don't have an edge, I don't play."
- The Snowball (Buffett bio).
This lets you see other sides of Warren. An extremely calm, erudite appearance hides a high-energy, highly ambitious and tough-to-deal-with individual.
- The Power Law
An account of Silicon Valley's history. A number of insights on how different VC firms and investors have approached it, and how founders view of VC firms has changed over time. I don't remember much detail.
- The Days of the Revolution.
History book covering what led to the independence in Argentina. I didn't like it at all.
- Made in America (Sam Walton autobio).
Sam Walton was among the best past-century entrepreneurs. Extremely hard working and thoughtful person. An interesting idea: when everyone was saying that Walmart was destroying local stores, he reframed it as saying that Walmart was winning because it was actually saving money for consumers. 'Those stores were destined to perish'.
- Buffett Letters (2002)
I read slightly over a decade of Buffett's letters. Astonishingly instructive in investing and accounting matters.
- The Paradox of Choice.
Why options for everything have tended to increase and why that paralyzes us. Unnecessary book, nothing new and it's already old.
- The Double Helix.
The process of discovering the Double Helix in DNA. Watson describes the journey; 2-yr long rollercoaster of emotions. Reminds me of what Feynman spoke about.
- American Prometheus (Oppenheimer).
The Manhattan project, WWII, occurred less than 100 years ago. What a group of coordinated geniuses can accomplish. How fragile things really are.
- Magicians of the Gods.
What if history has been misinterpreted? What if things started earlier? Are we missing out on important insights just because of complacency and human bias?
- Slaughterhouse-Five.
Never connected with Vonnegut.
- Norwegian Wood.
This hurt. A young girl's boyfriend comm[...]
2025 was not the best year reading-wise, but recapping should help me learn and improve.
These were my reads/studies during the year and a short takeaway from each:
- The Great Gatsby.
Peak literature, or very close thereto.
- The Intelligent Investor.
This is the second time I study this. Masterful work and overview of the investment field and sound ideas to approach it.
- Silent Spring.
Environmental consequences of our abuse of fertilizers and why our mistreating the earth is hurting ecosystems. (1970s)
- The Grapes of Wrath.
There's an idea in the preface I'll forever remember: 'I'm assailed by my own ignorance. No one knows how ill-suited and lazy my mind really is aside from me. I constantly combat this'. (Steinbeck - Nobel laureate).
At times, this book cuts deep.
- Lessons from the Titans.
How little gains in efficiency, better operations, and getting the broad picture right can lead to huge success. You don't need to create the iPhone to do well in business. Similar to The Outsiders.
- The Screwtape Letters.
A very clever way to write about how to live well and not drift toward hell. Can't remember many details though.
- Built From Scratch (Home Depot autobio).
Best business biography I've ever read. All of the ideas I might've read about, these guys applied to build a $300bn company. An astounding number of insights as to how to sensibly run an organization.
- The Art of Power (Jefferson bio).
Amazing individual and politician. Potential role model in so many ways. Extremely cultivated and likeable person, deep thinker across the board, and a doer.
- The Life and Selected Writings of Jefferson.
I needed to dive deeper into his ideas. His writings give a sense of how much he cared and thought about matters related to the soul. Jefferson reminded me of Oppenheimer.
- A Man for All Markets (Thorp bio).
Brilliant individual, but I didn't like the writing. Some ideas I can't get out of my mind: (1) Tweaking a problem slightly can turn it from impossible to possible; (2) Education is software for the brain; (3) "If I don't have an edge, I don't play."
- The Snowball (Buffett bio).
This lets you see other sides of Warren. An extremely calm, erudite appearance hides a high-energy, highly ambitious and tough-to-deal-with individual.
- The Power Law
An account of Silicon Valley's history. A number of insights on how different VC firms and investors have approached it, and how founders view of VC firms has changed over time. I don't remember much detail.
- The Days of the Revolution.
History book covering what led to the independence in Argentina. I didn't like it at all.
- Made in America (Sam Walton autobio).
Sam Walton was among the best past-century entrepreneurs. Extremely hard working and thoughtful person. An interesting idea: when everyone was saying that Walmart was destroying local stores, he reframed it as saying that Walmart was winning because it was actually saving money for consumers. 'Those stores were destined to perish'.
- Buffett Letters (2002)
I read slightly over a decade of Buffett's letters. Astonishingly instructive in investing and accounting matters.
- The Paradox of Choice.
Why options for everything have tended to increase and why that paralyzes us. Unnecessary book, nothing new and it's already old.
- The Double Helix.
The process of discovering the Double Helix in DNA. Watson describes the journey; 2-yr long rollercoaster of emotions. Reminds me of what Feynman spoke about.
- American Prometheus (Oppenheimer).
The Manhattan project, WWII, occurred less than 100 years ago. What a group of coordinated geniuses can accomplish. How fragile things really are.
- Magicians of the Gods.
What if history has been misinterpreted? What if things started earlier? Are we missing out on important insights just because of complacency and human bias?
- Slaughterhouse-Five.
Never connected with Vonnegut.
- Norwegian Wood.
This hurt. A young girl's boyfriend comm[...]
Offshore
Giuliano 2025 was not the best year reading-wise, but recapping should help me learn and improve. These were my reads/studies during the year and a short takeaway from each: - The Great Gatsby. Peak literature, or very close thereto. - The Intelligent Investor.…
its suicide. She's a deep thinker and feels pain so within her she can't escape it. Tries to fall in love and it unleashes a chain of sorrow she can't bear.
- Animal Farm.
Quite clever. How politicians race against one another. How crowds are fooled. How vanity and mischief creep in at the top.
Nowhere near 1984.
- White Nights.
I think I read this for the third or fourth time. I don't know, still can't understand.
- The Scientists.
Starting with Copernicus (?), Gribbin goes on to tell the story of how science progressed, how ideas were formed, and who were the thinkers. Thesis is amazing; execution was bad.
- Ice Age.
Great account of how interglacial cycles occur. Big idea in here: Identify the 3 factors that move the needle. In climate change throughout millennia, it was: eccentricity of the orbit, tilt of the axis, axial precession (?).
- Leonardo Da Vinci, Isaacson.
Astounding individual. Peak curiosity and talent well cultivated. Depicts how far people can go. Breadth of interests and how to intersect them. How to use Drawing for thinking purposes.
- Leonardo Da Vinci The Complete Works.
Works of art, some notes from his journals, and drawings.
- Punctuated Equilibrium.
Amazing thesis, disastrous execution.
Thesis: Darwin was right, but wrong. Evolution is not linear nor gradual; it happens in a few concentrated periods of time.
- The Gulag Archipelago.
'To stand up for the truth is nothing: for the truth you have to sit in jail'. An account of a survivor from the Russian Gulags in the 20th century. Deeply disturbing, though half of it was something like a trial, which got boring.
- The General Theory of Employment, Interest, and Money.
I'm more inclined to think Keynes was crazy in what he posited, yet his approach was extremely sensible and correct: 'We've been stagnated, we don't know how to get out of this mess [depression], we need new ideas'.
- Anna Karenina.
I was expecting a masterpiece, and I think that was my mistake. Has many bright moments, indeed extremely bright some, but nothing crazy.
Last chapter hit the hardest: there was this guy who was a deep thinker and momentarily got the grasp of what everything meant. But every time he tried to rationalize it or think it through, he lost that grasp. It takes courage.
- Richer, Wiser, happier.
Good to get a sense of how great investors think and act. But Munger, Buffett, and Graham have influenced them all, so after reading these, there's not much new.
In Progress:
- Elements of Chemistry. Left it half-way through after I drifted outside of science.
- Faust. I occasionally return to this, but I haven't read any literature in a while.
- Call Me Ted. Ted Turner autobio, started it today.
tweet
- Animal Farm.
Quite clever. How politicians race against one another. How crowds are fooled. How vanity and mischief creep in at the top.
Nowhere near 1984.
- White Nights.
I think I read this for the third or fourth time. I don't know, still can't understand.
- The Scientists.
Starting with Copernicus (?), Gribbin goes on to tell the story of how science progressed, how ideas were formed, and who were the thinkers. Thesis is amazing; execution was bad.
- Ice Age.
Great account of how interglacial cycles occur. Big idea in here: Identify the 3 factors that move the needle. In climate change throughout millennia, it was: eccentricity of the orbit, tilt of the axis, axial precession (?).
- Leonardo Da Vinci, Isaacson.
Astounding individual. Peak curiosity and talent well cultivated. Depicts how far people can go. Breadth of interests and how to intersect them. How to use Drawing for thinking purposes.
- Leonardo Da Vinci The Complete Works.
Works of art, some notes from his journals, and drawings.
- Punctuated Equilibrium.
Amazing thesis, disastrous execution.
Thesis: Darwin was right, but wrong. Evolution is not linear nor gradual; it happens in a few concentrated periods of time.
- The Gulag Archipelago.
'To stand up for the truth is nothing: for the truth you have to sit in jail'. An account of a survivor from the Russian Gulags in the 20th century. Deeply disturbing, though half of it was something like a trial, which got boring.
- The General Theory of Employment, Interest, and Money.
I'm more inclined to think Keynes was crazy in what he posited, yet his approach was extremely sensible and correct: 'We've been stagnated, we don't know how to get out of this mess [depression], we need new ideas'.
- Anna Karenina.
I was expecting a masterpiece, and I think that was my mistake. Has many bright moments, indeed extremely bright some, but nothing crazy.
Last chapter hit the hardest: there was this guy who was a deep thinker and momentarily got the grasp of what everything meant. But every time he tried to rationalize it or think it through, he lost that grasp. It takes courage.
- Richer, Wiser, happier.
Good to get a sense of how great investors think and act. But Munger, Buffett, and Graham have influenced them all, so after reading these, there's not much new.
In Progress:
- Elements of Chemistry. Left it half-way through after I drifted outside of science.
- Faust. I occasionally return to this, but I haven't read any literature in a while.
- Call Me Ted. Ted Turner autobio, started it today.
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Offshore
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Fiscal.ai
Yesterday, Tim Cook bought ~$3 million worth of Nike shares.
This purchase increased his Nike stake by 90%.
$NKE https://t.co/5V3p49j2VM
tweet
Yesterday, Tim Cook bought ~$3 million worth of Nike shares.
This purchase increased his Nike stake by 90%.
$NKE https://t.co/5V3p49j2VM
tweet
Offshore
Photo
EndGame Macro
Jung had this idea that the first half of life is basically you building the you that can survive out here. You learn how the world works, you chase the credentials, you build a career, you try to become someone. You’re proving, pushing, expanding. It’s necessary stage in life. But it’s also kind of one directional.
Then around 40, something changes. The stuff that used to drive you doesn’t hit the same. Not because it was pointless, but because it stops being enough. You can still win the outside game and still feel like… okay, but now what? And that’s where Jung says the real work starts in that you either keep running the same script, or you start dealing with the parts of yourself you ignored while you were busy building your life.
I’m 42 and I get it now. The last five years changed how I see everything. Maybe it’s because mortality feels more real when you’ve lost people, or you’ve watched time move faster than you expected. But I find myself thinking about purpose in a way I never did before. Big questions. Why are we here? What am I supposed to do with the time I actually have?
Having kids makes that impossible to ignore. You start seeing life through them. You think about how to raise them, how to protect them, but also how not to overprotect them because they need some struggle to become who they’re going to be. And for me, it’s made things really clear that my purpose is my family. Making sure they’re safe, stable, and taken care of.
And I’ve realized you can’t do everything at once. Every choice costs you something else. Even if you don’t notice it in the moment, you’re always trading one thing for another and sacrificing something on the other end. So part of growing up is getting honest about what you’re choosing, and making those trades on purpose instead of by accident.
I’ve also had this weird reset where I can look back at who I used to be and not hate him for it. I was naive. I was immature. But that was part of the process. I’m not that guy anymore.
What matters now is family, friends, and actually enjoying the life I’m in while I’m here.
And deep down, most of us already know our own gaps and what we should be doing, what we’ve been avoiding. The fix isn’t more thinking. It’s action. You can have money, status, fame and still be miserable. Happiness comes and goes. But if you keep showing up and doing the things you know you’re supposed to do, the path has a way of finding you. Then you check yourself, stay honest, and adjust as you go.
tweet
Jung had this idea that the first half of life is basically you building the you that can survive out here. You learn how the world works, you chase the credentials, you build a career, you try to become someone. You’re proving, pushing, expanding. It’s necessary stage in life. But it’s also kind of one directional.
Then around 40, something changes. The stuff that used to drive you doesn’t hit the same. Not because it was pointless, but because it stops being enough. You can still win the outside game and still feel like… okay, but now what? And that’s where Jung says the real work starts in that you either keep running the same script, or you start dealing with the parts of yourself you ignored while you were busy building your life.
I’m 42 and I get it now. The last five years changed how I see everything. Maybe it’s because mortality feels more real when you’ve lost people, or you’ve watched time move faster than you expected. But I find myself thinking about purpose in a way I never did before. Big questions. Why are we here? What am I supposed to do with the time I actually have?
Having kids makes that impossible to ignore. You start seeing life through them. You think about how to raise them, how to protect them, but also how not to overprotect them because they need some struggle to become who they’re going to be. And for me, it’s made things really clear that my purpose is my family. Making sure they’re safe, stable, and taken care of.
And I’ve realized you can’t do everything at once. Every choice costs you something else. Even if you don’t notice it in the moment, you’re always trading one thing for another and sacrificing something on the other end. So part of growing up is getting honest about what you’re choosing, and making those trades on purpose instead of by accident.
I’ve also had this weird reset where I can look back at who I used to be and not hate him for it. I was naive. I was immature. But that was part of the process. I’m not that guy anymore.
What matters now is family, friends, and actually enjoying the life I’m in while I’m here.
And deep down, most of us already know our own gaps and what we should be doing, what we’ve been avoiding. The fix isn’t more thinking. It’s action. You can have money, status, fame and still be miserable. Happiness comes and goes. But if you keep showing up and doing the things you know you’re supposed to do, the path has a way of finding you. Then you check yourself, stay honest, and adjust as you go.
tweet
Offshore
Photo
Giuliano
These were my reads/studies during 2025 and a short takeaway from each:
- The Great Gatsby.
Peak literature.
- The Intelligent Investor.
This is the second time I study this. Masterful work and overview of the investment field. Sound ideas to approach it.
- Silent Spring.
Environmental consequences of our abuse of fertilizers and why our mistreating the earth is hurting ecosystems. (1970s)
- The Grapes of Wrath.
There's an idea in the preface I'll forever remember: 'I'm assailed by my own ignorance. No one knows how ill-suited and lazy my mind really is aside from me. I constantly combat this'. (Steinbeck - Nobel laureate).
At times, this book cuts deep.
- Lessons from the Titans.
How little gains in efficiency, better operations, and getting the broad picture right can lead to huge success. You don't need to create the iPhone to do well in business. Similar to The Outsiders.
- The Screwtape Letters.
A very clever way to write about how to live well and not drift toward hell. Can't remember many details though.
- Built From Scratch (Home Depot autobio).
Best business biography I've ever read. All of the ideas I might've read about, these guys applied to build a $300bn company. An astounding number of insights as to how to sensibly run an organization.
- The Art of Power (Jefferson bio).
Amazing individual and politician. Potential role model in so many ways. Extremely cultivated and likeable person, deep thinker across the board, and a doer.
- The Life and Selected Writings of Jefferson.
I needed to dive deeper into his ideas. His writings give a sense of how much he cared and thought about matters related to the soul. Jefferson reminded me of Oppenheimer.
- A Man for All Markets (Thorp bio).
Brilliant individual, but I didn't like the writing. Some ideas I can't get out of my mind: (1) Tweaking a problem slightly can turn it from impossible to possible; (2) Education is software for the brain; (3) "If I don't have an edge, I don't play."
- The Snowball (Buffett bio).
This lets you see other sides of Warren. An extremely calm, erudite appearance hides a high-energy, highly ambitious and tough-to-deal-with individual.
- The Power Law
An account of Silicon Valley's history. A number of insights on how different VC firms and investors have approached it, and how founders view of VC firms has changed over time. I don't remember much detail.
- The Days of the Revolution.
History book covering what led to the independence in Argentina. I didn't like it at all.
- Made in America (Sam Walton autobio).
Sam Walton was among the best past-century entrepreneurs. Extremely hard working and thoughtful person. An interesting idea: when everyone was saying that Walmart was destroying local stores, he reframed it as saying that Walmart was winning because it was actually saving money for consumers. 'Those stores were destined to perish'.
- Buffett Letters (2002)
I read slightly over a decade of Buffett's letters. Astonishingly instructive in investing and accounting matters.
- The Paradox of Choice.
Why options for everything have tended to increase and why that paralyzes us. Unnecessary book, nothing new and it's already old.
- The Double Helix.
The process of discovering the Double Helix in DNA. Watson describes the journey; 2-yr long rollercoaster of emotions. Reminds me of what Feynman spoke about.
- American Prometheus (Oppenheimer).
The Manhattan project, WWII, occurred less than 100 years ago. What a group of coordinated geniuses can accomplish. How fragile things really are.
- Magicians of the Gods.
What if history has been misinterpreted? What if things started earlier? Are we missing out on important insights just because of complacency and human bias?
- Slaughterhouse-Five.
Never connected with Vonnegut.
- Norwegian Wood.
This hurt. A young girl's boyfriend commits suicide. She's a deep thinker and feels pain so within her she can't escape it. Tries to fall in love and it unleashes[...]
These were my reads/studies during 2025 and a short takeaway from each:
- The Great Gatsby.
Peak literature.
- The Intelligent Investor.
This is the second time I study this. Masterful work and overview of the investment field. Sound ideas to approach it.
- Silent Spring.
Environmental consequences of our abuse of fertilizers and why our mistreating the earth is hurting ecosystems. (1970s)
- The Grapes of Wrath.
There's an idea in the preface I'll forever remember: 'I'm assailed by my own ignorance. No one knows how ill-suited and lazy my mind really is aside from me. I constantly combat this'. (Steinbeck - Nobel laureate).
At times, this book cuts deep.
- Lessons from the Titans.
How little gains in efficiency, better operations, and getting the broad picture right can lead to huge success. You don't need to create the iPhone to do well in business. Similar to The Outsiders.
- The Screwtape Letters.
A very clever way to write about how to live well and not drift toward hell. Can't remember many details though.
- Built From Scratch (Home Depot autobio).
Best business biography I've ever read. All of the ideas I might've read about, these guys applied to build a $300bn company. An astounding number of insights as to how to sensibly run an organization.
- The Art of Power (Jefferson bio).
Amazing individual and politician. Potential role model in so many ways. Extremely cultivated and likeable person, deep thinker across the board, and a doer.
- The Life and Selected Writings of Jefferson.
I needed to dive deeper into his ideas. His writings give a sense of how much he cared and thought about matters related to the soul. Jefferson reminded me of Oppenheimer.
- A Man for All Markets (Thorp bio).
Brilliant individual, but I didn't like the writing. Some ideas I can't get out of my mind: (1) Tweaking a problem slightly can turn it from impossible to possible; (2) Education is software for the brain; (3) "If I don't have an edge, I don't play."
- The Snowball (Buffett bio).
This lets you see other sides of Warren. An extremely calm, erudite appearance hides a high-energy, highly ambitious and tough-to-deal-with individual.
- The Power Law
An account of Silicon Valley's history. A number of insights on how different VC firms and investors have approached it, and how founders view of VC firms has changed over time. I don't remember much detail.
- The Days of the Revolution.
History book covering what led to the independence in Argentina. I didn't like it at all.
- Made in America (Sam Walton autobio).
Sam Walton was among the best past-century entrepreneurs. Extremely hard working and thoughtful person. An interesting idea: when everyone was saying that Walmart was destroying local stores, he reframed it as saying that Walmart was winning because it was actually saving money for consumers. 'Those stores were destined to perish'.
- Buffett Letters (2002)
I read slightly over a decade of Buffett's letters. Astonishingly instructive in investing and accounting matters.
- The Paradox of Choice.
Why options for everything have tended to increase and why that paralyzes us. Unnecessary book, nothing new and it's already old.
- The Double Helix.
The process of discovering the Double Helix in DNA. Watson describes the journey; 2-yr long rollercoaster of emotions. Reminds me of what Feynman spoke about.
- American Prometheus (Oppenheimer).
The Manhattan project, WWII, occurred less than 100 years ago. What a group of coordinated geniuses can accomplish. How fragile things really are.
- Magicians of the Gods.
What if history has been misinterpreted? What if things started earlier? Are we missing out on important insights just because of complacency and human bias?
- Slaughterhouse-Five.
Never connected with Vonnegut.
- Norwegian Wood.
This hurt. A young girl's boyfriend commits suicide. She's a deep thinker and feels pain so within her she can't escape it. Tries to fall in love and it unleashes[...]
Offshore
Giuliano These were my reads/studies during 2025 and a short takeaway from each: - The Great Gatsby. Peak literature. - The Intelligent Investor. This is the second time I study this. Masterful work and overview of the investment field. Sound ideas to approach…
a chain of sorrow she can't bear.
- Animal Farm.
Quite clever. How politicians race against one another. How crowds are fooled. How vanity and mischief creep in at the top.
Nowhere near 1984.
- White Nights.
I think I read this for the third or fourth time. I don't know, still can't understand.
- The Scientists.
Starting with Copernicus (?), Gribbin goes on to tell the story of how science progressed, how ideas were formed, and who were the thinkers. Thesis is amazing; execution was bad.
- Ice Age.
Great account of how interglacial cycles occur. Big idea in here: Identify the 3 factors that move the needle. In climate change throughout millennia, it was: eccentricity of the orbit, tilt of the axis, axial precession (?).
- Leonardo Da Vinci, Isaacson.
Astounding individual. Peak curiosity and talent well cultivated. Depicts how far people can go. Breadth of interests and how to intersect them. How to use Drawing for thinking purposes.
- Leonardo Da Vinci The Complete Works.
Works of art, some notes from his journals, and drawings.
- Punctuated Equilibrium.
Amazing thesis, disastrous execution.
Thesis: Darwin was right, but wrong. Evolution is not linear nor gradual; it happens in a few concentrated periods of time.
- The Gulag Archipelago.
'To stand up for the truth is nothing: for the truth you have to sit in jail'. An account of a survivor from the Russian Gulags in the 20th century. Deeply disturbing, though half of it was something like a trial, which got boring.
- The General Theory of Employment, Interest, and Money.
I'm more inclined to think Keynes was crazy in what he posited, yet his approach was extremely sensible and correct: 'We've been stagnated, we don't know how to get out of this mess [depression], we need new ideas'.
- Anna Karenina.
I was expecting a masterpiece, and I think that was my mistake. Has many bright moments, indeed extremely bright some, but nothing crazy.
Last chapter hit the hardest: there was this guy who was a deep thinker and momentarily got the grasp of what everything meant. But every time he tried to rationalize it or think it through, he lost that grasp. It takes courage.
- Richer, Wiser, happier.
Good to get a sense of how great investors think and act. But Munger, Buffett, and Graham have influenced them all, so after reading these, there's not much new.
In Progress:
- Elements of Chemistry. Left it half-way through after I drifted outside of science.
- Faust. I occasionally return to this, but I haven't read any literature in a while.
- Call Me Ted. Ted Turner autobio, started it today.
tweet
- Animal Farm.
Quite clever. How politicians race against one another. How crowds are fooled. How vanity and mischief creep in at the top.
Nowhere near 1984.
- White Nights.
I think I read this for the third or fourth time. I don't know, still can't understand.
- The Scientists.
Starting with Copernicus (?), Gribbin goes on to tell the story of how science progressed, how ideas were formed, and who were the thinkers. Thesis is amazing; execution was bad.
- Ice Age.
Great account of how interglacial cycles occur. Big idea in here: Identify the 3 factors that move the needle. In climate change throughout millennia, it was: eccentricity of the orbit, tilt of the axis, axial precession (?).
- Leonardo Da Vinci, Isaacson.
Astounding individual. Peak curiosity and talent well cultivated. Depicts how far people can go. Breadth of interests and how to intersect them. How to use Drawing for thinking purposes.
- Leonardo Da Vinci The Complete Works.
Works of art, some notes from his journals, and drawings.
- Punctuated Equilibrium.
Amazing thesis, disastrous execution.
Thesis: Darwin was right, but wrong. Evolution is not linear nor gradual; it happens in a few concentrated periods of time.
- The Gulag Archipelago.
'To stand up for the truth is nothing: for the truth you have to sit in jail'. An account of a survivor from the Russian Gulags in the 20th century. Deeply disturbing, though half of it was something like a trial, which got boring.
- The General Theory of Employment, Interest, and Money.
I'm more inclined to think Keynes was crazy in what he posited, yet his approach was extremely sensible and correct: 'We've been stagnated, we don't know how to get out of this mess [depression], we need new ideas'.
- Anna Karenina.
I was expecting a masterpiece, and I think that was my mistake. Has many bright moments, indeed extremely bright some, but nothing crazy.
Last chapter hit the hardest: there was this guy who was a deep thinker and momentarily got the grasp of what everything meant. But every time he tried to rationalize it or think it through, he lost that grasp. It takes courage.
- Richer, Wiser, happier.
Good to get a sense of how great investors think and act. But Munger, Buffett, and Graham have influenced them all, so after reading these, there's not much new.
In Progress:
- Elements of Chemistry. Left it half-way through after I drifted outside of science.
- Faust. I occasionally return to this, but I haven't read any literature in a while.
- Call Me Ted. Ted Turner autobio, started it today.
tweet
Offshore
Photo
EndGame Macro
Follow @TOzgokmen one of most underrated accounts on X https://t.co/dGwRvv4cGn
tweet
Follow @TOzgokmen one of most underrated accounts on X https://t.co/dGwRvv4cGn
Kindleberger Spiral sign post:
as of September, both imports and exports with China are down ~25%.
Q4 should be much worse, meaning that 2025 tariffs have launched a worse trade collapse than Smoot-Hawley 1930, which cause about 20%/Y trade collapse with the US. https://t.co/7A2RFY8qqb tweet
Offshore
Photo
Fiscal.ai
Lower interest rates aren't improving homebuyer demand according to Lennar.
"As you may recall, last quarter I noted that declining interest rates could signal the start of a market recovery. Unfortunately, that turnaround has not yet materialized."
$LEN https://t.co/q6OWWKlPOJ
tweet
Lower interest rates aren't improving homebuyer demand according to Lennar.
"As you may recall, last quarter I noted that declining interest rates could signal the start of a market recovery. Unfortunately, that turnaround has not yet materialized."
$LEN https://t.co/q6OWWKlPOJ
tweet
Clark Square Capital
If you are looking for some good business biographies, here is a great list to start (h/t @mastersinvest)
•Conscious Capitalism: Liberating the Heroic Spirit of Business — John Mackey & Raj Sisodia
•Copy This! How I Turned Dyslexia, ADHD, and 100 Square Feet into a Company Called Kinko’s — Paul Orfalea
•Designed to Win: What Every Business Needs to Know to Go Truly Global — Po Chung
•The Essence of a Family Enterprise — Samuel C. Johnson
•Mission-Driven Leadership: My Journey as a Radical Capitalist — Mark Bertolini
•The Farmer from Merna (State Farm / George J. Mecherle) — Karl Schriftgiesser
•The Burger King: A Whopper of a Story on Life and Leadership — Jim McLamore
•When Business Is Love — Jan Ryde
•The Unpublished David Ogilvy — David Ogilvy
•Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect — Will Guidara
•Setting the Table: The Transforming Power of Hospitality in Business — Danny Meyer
•Four Seasons: The Story of a Business Philosophy — Isadore Sharp
•Excellence Wins: A No-Nonsense Guide to Becoming the Best in a World of Compromise — Horst Schulze
•Without Reservations: How a Family Root Beer Stand Grew into a Global Hotel Company — J.W. “Bill” Marriott Jr.
•“Thanks for the Business”: K.C. Irving, Arthur Irving, and the Story of Irving Oil — Donald J. Savoie
•The Wawa Way: How a Funny Name & 6 Core Values Revolutionized Convenience — Howard Stoeckel
•Co-Piloting: Luck, Leadership, and Learning That It’s All About Others (Our Story) — Jim Haslam
•The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers — Robert P. Miles
•Steve Jobs — Walter Isaacson
•How Google Works — Eric Schmidt & Jonathan Rosenberg
•Elon Musk — Walter Isaacson
•Born to Be Wired — John Malone
•Who Is Michael Ovitz?: The Rise and Fall (and Rise) of the Most Powerful Man in Hollywood — Michael Ovitz
•The Toyota Way (2nd ed.) — Jeffrey K. Liker
•Master of the Game (Steve Ross) — Connie Bruck
•Celebration 150 (The Sherwin-Williams Company history)
•Fifty Years of Pleasure: The Illustrated History of Publix Super Markets, Inc. — Pat Watters
•In Search of Excellence — Thomas J. Peters & Robert H. Waterman Jr.
•McDonald’s: Behind the Arches — John F. Love
•Titan: The Life of John D. Rockefeller, Sr. — Ron Chernow
•The First Tycoon: The Epic Life of Cornelius Vanderbilt — T. J. Stiles
•John H. Patterson: Pioneer in Industrial Welfare — Samuel Crowther
•George F. Johnson and His Industrial Democracy — William Inglis
•The Life of Elbert H. Gary: A Story of Steel — Ida M. Tarbell
•My Life and Work — Henry Ford
•Exceeding Customer Expectations — Kirk Kazanjian
•The Rise & Decline of The Great Atlantic & Pacific Tea Company — William I. Walsh
•The Great A&P and the Struggle for Small Business in America — Marc Levinson
•Fifty Years with the Golden Rule: A Spiritual Autobiography — J. C. Penney
•The Whole Story: Adventures in Love, Life, and Capitalism — John Mackey
•Built from Scratch — Bernie Marcus & Arthur Blank
•Sam Walton: Made in America — Sam Walton
•Let My People Go Surfing — Yvon Chouinard
•Five and Ten: The Fabulous Life of F. W. Woolworth — John K. Winkler
•Simon Marks: Retail Revolutionary — Paul Bookbinder
•Attention, Kmart Shoppers! — Ben Schultz
•Bare Essentials: The Aldi Way to Retail Success — Dieter Brandes
•Sol Price: Retail Revolutionary & Social Innovator — Robert E. Price
•The Joy of Costco: A Treasure Hunt from A to Z — David & Susan Schwartz
•Becoming Trader Joe — Joe Coulombe
•Leading by Design: The IKEA Story — Ingvar Kamprad
•The IKEA Edge — Anders Dahlvig
•Finding a Common Interest: The Story of Dick Dusseldorp and Lend Lease — Lindie Clark
•Zeckendorf — (autobiography)
•Frank Lowy: Pushing the Limits — Jill Margo
•Frank Lowy: A Second Life — Jill Margo
•The Gambler — Kirk Kerkorian; William C. Rempel
•The Billionaire Who Wasn’t — Chuck Feeney; Conor O’Clery
•Junk to Gold — Willis Johnson
•Walt Disney: The Triumph of the American Imagination — Nea[...]
If you are looking for some good business biographies, here is a great list to start (h/t @mastersinvest)
•Conscious Capitalism: Liberating the Heroic Spirit of Business — John Mackey & Raj Sisodia
•Copy This! How I Turned Dyslexia, ADHD, and 100 Square Feet into a Company Called Kinko’s — Paul Orfalea
•Designed to Win: What Every Business Needs to Know to Go Truly Global — Po Chung
•The Essence of a Family Enterprise — Samuel C. Johnson
•Mission-Driven Leadership: My Journey as a Radical Capitalist — Mark Bertolini
•The Farmer from Merna (State Farm / George J. Mecherle) — Karl Schriftgiesser
•The Burger King: A Whopper of a Story on Life and Leadership — Jim McLamore
•When Business Is Love — Jan Ryde
•The Unpublished David Ogilvy — David Ogilvy
•Unreasonable Hospitality: The Remarkable Power of Giving People More Than They Expect — Will Guidara
•Setting the Table: The Transforming Power of Hospitality in Business — Danny Meyer
•Four Seasons: The Story of a Business Philosophy — Isadore Sharp
•Excellence Wins: A No-Nonsense Guide to Becoming the Best in a World of Compromise — Horst Schulze
•Without Reservations: How a Family Root Beer Stand Grew into a Global Hotel Company — J.W. “Bill” Marriott Jr.
•“Thanks for the Business”: K.C. Irving, Arthur Irving, and the Story of Irving Oil — Donald J. Savoie
•The Wawa Way: How a Funny Name & 6 Core Values Revolutionized Convenience — Howard Stoeckel
•Co-Piloting: Luck, Leadership, and Learning That It’s All About Others (Our Story) — Jim Haslam
•The Warren Buffett CEO: Secrets from the Berkshire Hathaway Managers — Robert P. Miles
•Steve Jobs — Walter Isaacson
•How Google Works — Eric Schmidt & Jonathan Rosenberg
•Elon Musk — Walter Isaacson
•Born to Be Wired — John Malone
•Who Is Michael Ovitz?: The Rise and Fall (and Rise) of the Most Powerful Man in Hollywood — Michael Ovitz
•The Toyota Way (2nd ed.) — Jeffrey K. Liker
•Master of the Game (Steve Ross) — Connie Bruck
•Celebration 150 (The Sherwin-Williams Company history)
•Fifty Years of Pleasure: The Illustrated History of Publix Super Markets, Inc. — Pat Watters
•In Search of Excellence — Thomas J. Peters & Robert H. Waterman Jr.
•McDonald’s: Behind the Arches — John F. Love
•Titan: The Life of John D. Rockefeller, Sr. — Ron Chernow
•The First Tycoon: The Epic Life of Cornelius Vanderbilt — T. J. Stiles
•John H. Patterson: Pioneer in Industrial Welfare — Samuel Crowther
•George F. Johnson and His Industrial Democracy — William Inglis
•The Life of Elbert H. Gary: A Story of Steel — Ida M. Tarbell
•My Life and Work — Henry Ford
•Exceeding Customer Expectations — Kirk Kazanjian
•The Rise & Decline of The Great Atlantic & Pacific Tea Company — William I. Walsh
•The Great A&P and the Struggle for Small Business in America — Marc Levinson
•Fifty Years with the Golden Rule: A Spiritual Autobiography — J. C. Penney
•The Whole Story: Adventures in Love, Life, and Capitalism — John Mackey
•Built from Scratch — Bernie Marcus & Arthur Blank
•Sam Walton: Made in America — Sam Walton
•Let My People Go Surfing — Yvon Chouinard
•Five and Ten: The Fabulous Life of F. W. Woolworth — John K. Winkler
•Simon Marks: Retail Revolutionary — Paul Bookbinder
•Attention, Kmart Shoppers! — Ben Schultz
•Bare Essentials: The Aldi Way to Retail Success — Dieter Brandes
•Sol Price: Retail Revolutionary & Social Innovator — Robert E. Price
•The Joy of Costco: A Treasure Hunt from A to Z — David & Susan Schwartz
•Becoming Trader Joe — Joe Coulombe
•Leading by Design: The IKEA Story — Ingvar Kamprad
•The IKEA Edge — Anders Dahlvig
•Finding a Common Interest: The Story of Dick Dusseldorp and Lend Lease — Lindie Clark
•Zeckendorf — (autobiography)
•Frank Lowy: Pushing the Limits — Jill Margo
•Frank Lowy: A Second Life — Jill Margo
•The Gambler — Kirk Kerkorian; William C. Rempel
•The Billionaire Who Wasn’t — Chuck Feeney; Conor O’Clery
•Junk to Gold — Willis Johnson
•Walt Disney: The Triumph of the American Imagination — Nea[...]
Offshore
Clark Square Capital If you are looking for some good business biographies, here is a great list to start (h/t @mastersinvest) •Conscious Capitalism: Liberating the Heroic Spirit of Business — John Mackey & Raj Sisodia •Copy This! How I Turned Dyslexia, ADHD…
l Gabler
•Creativity, Inc. — Ed Catmull
•The Ride of a Lifetime — Robert Iger
•Exceeding Expectations: The Enterprise Rent-A-Car Story
•Overnight Success: Federal Express & Frederick Smith, Its Renegade Creator — Vance Trimble
•Changing How the World Does Business — (FedEx) Roger Frock
•FedEx Delivers — Madan Birla
•DHL: Three Letters That Shrank the World — Jane Chung
•Radical Simplicity — Ken Allen
•Ready Fire Aim: The Mainfreight Story — Keith Davies
•With Passion Anything is Possible — (Mainfreight) Keith Davies
•Big Brown: The Untold Story of UPS — Greg Niemann
•Helping the World Keep Promises — (Old Dominion Freight Line) Jeffrey L. Rodengen
•The Box — Marc Levinson
•Railroader — Hunter Harrison; Howard Green
•How We Work and Why — E. Hunter Harrison
•Rags to Riches — (Cintas)
•The Fish That Ate the Whale — Rich Cohen
•For God, Country & Coca-Cola — Mark Pendergrast
•Inside Coca-Cola — Neville Isdell
•My Life in Full — Indra Nooyi
•Onward — Howard Schultz
•Know What Matters — Ron Shaich
•Bitter Brew — William Knoedelseder
•Quench Your Own Thirst — Jim Koch
•The Emperors of Chocolate — Joe Glenn Brenner
•Shoe Dog — Phil Knight
•Shoe Maker — Joe Foster
•Authentic — Paul Van Doren
•Running with Purpose — Jim Weber
•Birkenstock: The Evolution of a Universal Purpose and Zeitgeist Brand
•It’s How We Play the Game — Ed Stack
•Michael O’Leary: Turbulent Times for the Man Who Made Ryanair — Matt Cooper
•Nuts! — (Southwest Airlines) Kevin & Jackie Freiberg
•Spark — Frank Koller
•Plain Talk — Ken Iverson
•Born of This Land: My Life Story — Chung Ju-yung
•Kiewit: An Uncommon Company — Jeffrey L. Rodengen
•The Autobiography of Andrew Carnegie (with The Gospel of Wealth)
•Men and Rubber — Harvey S. Firestone
•How to Make a Few Billion Dollars — Brad Jacobs
•The John Deere Way — David Magee
•Otis: Giving Rise to the Modern City — Jason Goodwin
•The Power of Fastenal People — Robert A. Kierlin
•Strong Ties — Barclay Simpson; Katharine Ogden Michaels
•Kitchens, or Sink — Matthew Ingle
•Orkin: The Making of the World’s Best Pest Control Company
•Work Hard, Have Fun, Make Money: The Tractor Supply Story
•The Culture Warrior — Joe Scarlett
•One from Many — Dee Hock
•A Blueprint for Better Banking — (Svenska Handelsbanken) Niels Kroner
•Decentralisation—Why and How to Make it Work — Jan Wallander
•Invested — Charles Schwab
•The Snowball — Warren Buffett; Alice Schroeder
•What It Takes — Stephen A. Schwarzman
•Bloomberg by Bloomberg — Michael Bloomberg
•The Millionaires’ Factory — (Macquarie) Joyce Moullakis & Chris Wright
•A. P. Giannini: Banker of America — Felice A. Bonadio
•Biography of a Bank: The Story of Bank of America NT&SA — Marquis & Bessie James
•Breaking the Bank — Gary Hector
•The House of Morgan — Ron Chernow
•In for a Penny — Peter Hargreaves
•What Matters — Andrew Pridham
•Zero-Sum Game — Erika S. Olson
•Many Happy Returns — Henry Bloch; Thomas M. Bloch
•The Gallagher Way — Arthur J. Gallagher; Alison Kittrell
•USAA: A Tradition of Service 1922–1997 — Paul T. Ringenbach
•Grinding It Out — Ray Kroc
•The Magic of McDonald’s — Peter Ritchie
•Sell ’Em by the Sack — (White Castle) David Gerard Hogan
•In-N-Out Burger — Stacy Perman
•The Ins-N-Outs of In-N-Out Burger — Lynsi Snyder
•How Did You Do It, Truett? — S. Truett Cathy
•Covert Cows and Chick-fil-A — Steve Robinson
•Doing Business the Chick-fil-A Way — S. Truett Cathy
•Pizza Tiger — Tom Monaghan
•Making Dough — (Krispy Kreme) Kirk Kazanjian & Amy Joyner
•Out of the Dog House — Dick Portillo
•Always Fresh — (Tim Hortons) Ron Joyce
•Selling Steakburgers — (Steak ’n Shake) Robert P. Cronin
•Made from Scratch — (Texas Roadhouse) Kent Taylor
•On the Brink — Norman Brinker
•Around the Corner to Around the World — (Dunkin’ Donuts) Robert Rosenberg
•Dave’s Way — (Wendy’s) Dave Thomas
•Every Customer a Fan — Jim Penman
•La passion créative — Bernard Arnault
•The Luxury Strategy — Kapferer & Bastien
•Brunello Cucinelli: The Dream of Solomeo
•The Ta[...]
•Creativity, Inc. — Ed Catmull
•The Ride of a Lifetime — Robert Iger
•Exceeding Expectations: The Enterprise Rent-A-Car Story
•Overnight Success: Federal Express & Frederick Smith, Its Renegade Creator — Vance Trimble
•Changing How the World Does Business — (FedEx) Roger Frock
•FedEx Delivers — Madan Birla
•DHL: Three Letters That Shrank the World — Jane Chung
•Radical Simplicity — Ken Allen
•Ready Fire Aim: The Mainfreight Story — Keith Davies
•With Passion Anything is Possible — (Mainfreight) Keith Davies
•Big Brown: The Untold Story of UPS — Greg Niemann
•Helping the World Keep Promises — (Old Dominion Freight Line) Jeffrey L. Rodengen
•The Box — Marc Levinson
•Railroader — Hunter Harrison; Howard Green
•How We Work and Why — E. Hunter Harrison
•Rags to Riches — (Cintas)
•The Fish That Ate the Whale — Rich Cohen
•For God, Country & Coca-Cola — Mark Pendergrast
•Inside Coca-Cola — Neville Isdell
•My Life in Full — Indra Nooyi
•Onward — Howard Schultz
•Know What Matters — Ron Shaich
•Bitter Brew — William Knoedelseder
•Quench Your Own Thirst — Jim Koch
•The Emperors of Chocolate — Joe Glenn Brenner
•Shoe Dog — Phil Knight
•Shoe Maker — Joe Foster
•Authentic — Paul Van Doren
•Running with Purpose — Jim Weber
•Birkenstock: The Evolution of a Universal Purpose and Zeitgeist Brand
•It’s How We Play the Game — Ed Stack
•Michael O’Leary: Turbulent Times for the Man Who Made Ryanair — Matt Cooper
•Nuts! — (Southwest Airlines) Kevin & Jackie Freiberg
•Spark — Frank Koller
•Plain Talk — Ken Iverson
•Born of This Land: My Life Story — Chung Ju-yung
•Kiewit: An Uncommon Company — Jeffrey L. Rodengen
•The Autobiography of Andrew Carnegie (with The Gospel of Wealth)
•Men and Rubber — Harvey S. Firestone
•How to Make a Few Billion Dollars — Brad Jacobs
•The John Deere Way — David Magee
•Otis: Giving Rise to the Modern City — Jason Goodwin
•The Power of Fastenal People — Robert A. Kierlin
•Strong Ties — Barclay Simpson; Katharine Ogden Michaels
•Kitchens, or Sink — Matthew Ingle
•Orkin: The Making of the World’s Best Pest Control Company
•Work Hard, Have Fun, Make Money: The Tractor Supply Story
•The Culture Warrior — Joe Scarlett
•One from Many — Dee Hock
•A Blueprint for Better Banking — (Svenska Handelsbanken) Niels Kroner
•Decentralisation—Why and How to Make it Work — Jan Wallander
•Invested — Charles Schwab
•The Snowball — Warren Buffett; Alice Schroeder
•What It Takes — Stephen A. Schwarzman
•Bloomberg by Bloomberg — Michael Bloomberg
•The Millionaires’ Factory — (Macquarie) Joyce Moullakis & Chris Wright
•A. P. Giannini: Banker of America — Felice A. Bonadio
•Biography of a Bank: The Story of Bank of America NT&SA — Marquis & Bessie James
•Breaking the Bank — Gary Hector
•The House of Morgan — Ron Chernow
•In for a Penny — Peter Hargreaves
•What Matters — Andrew Pridham
•Zero-Sum Game — Erika S. Olson
•Many Happy Returns — Henry Bloch; Thomas M. Bloch
•The Gallagher Way — Arthur J. Gallagher; Alison Kittrell
•USAA: A Tradition of Service 1922–1997 — Paul T. Ringenbach
•Grinding It Out — Ray Kroc
•The Magic of McDonald’s — Peter Ritchie
•Sell ’Em by the Sack — (White Castle) David Gerard Hogan
•In-N-Out Burger — Stacy Perman
•The Ins-N-Outs of In-N-Out Burger — Lynsi Snyder
•How Did You Do It, Truett? — S. Truett Cathy
•Covert Cows and Chick-fil-A — Steve Robinson
•Doing Business the Chick-fil-A Way — S. Truett Cathy
•Pizza Tiger — Tom Monaghan
•Making Dough — (Krispy Kreme) Kirk Kazanjian & Amy Joyner
•Out of the Dog House — Dick Portillo
•Always Fresh — (Tim Hortons) Ron Joyce
•Selling Steakburgers — (Steak ’n Shake) Robert P. Cronin
•Made from Scratch — (Texas Roadhouse) Kent Taylor
•On the Brink — Norman Brinker
•Around the Corner to Around the World — (Dunkin’ Donuts) Robert Rosenberg
•Dave’s Way — (Wendy’s) Dave Thomas
•Every Customer a Fan — Jim Penman
•La passion créative — Bernard Arnault
•The Luxury Strategy — Kapferer & Bastien
•Brunello Cucinelli: The Dream of Solomeo
•The Ta[...]