Investing
BigCat's Capital Allocator
Buffett · Munger · Howard Marks · Klarman — one deep idea per day
Day 01
Buffett Core Principles
Circle of competence · Moat · Mr. Market · Intrinsic value
Day 02
Munger's Mind
Mental models · Inversion · 25 misjudgments · Two-step thinking
Day 03
Howard Marks on Cycles
Cycles inevitable · Pendulum · Risk control · Second-level thinking
Day 04
Value Investing Foundations
Margin of safety · Cigar butts vs quality · Mr. Market · Qual vs quant
Day 05
Klarman & Uncertainty
Asymmetric returns · Complex situations · Cash as optionality · Value traps
Day 06
Damodaran on Valuation
DCF power & pitfalls · Relative-valuation traps · Narrative & numbers · Growth vs value
Day 07
Bogle & Passive Investing
Index revolution · Tyranny of costs · Loser's game · Stay the course
Day 08
Dalio's Principles & Cycles
All Weather · Debt cycles · Principles as systems · Radical truth
Day 09
A History of Financial Crisis
1929 Great Depression · 1998 LTCM · 2000 Dot-com · 2008 GFC
Day 10
Behavioral Finance
System 1 & 2 · Loss aversion · Overconfidence · Herding
Day 11
Quality Investing
Three sentences · ROIC engine · Compounding machine · Quality trap
Day 12
The Peter Lynch Method
Invest in what you know · Six categories · PEG · Tenbaggers
Day 13
Retail & Consumer Cases
Costco flywheel · Apple ecosystem · American Express · See's lesson
Day 14
Energy & Cyclicals
Oil cycle · Capital cycle · Trend ≠ business · Non-productive assets
Day 15
Tech & the Internet
Network effects · Valuation · AI boom in the mirror · Platforms
Day 16
Financial Stocks
Banking · Insurance float · GEICO saga · Underwriting discipline
Day 17
Portfolio Management
Concentration vs diversification · Kelly criterion · Sizing & price · Taxes & compounding
Day 18
Venture & Startup Investing
Power law · Make something people want · Zero to One · Angel thresholds
Day 19
Real Estate Investing
Cycle & leverage · REIT logic · Buy vs rent · Real estate & inflation
Day 20
Global Macro
Rate gravity · Currency bet · Two faces of geopolitics · The growth trap
Day 21
Reading Howard Marks's Memos
Second-level thinking · Bubble mindset · Decision vs outcome · When to sell
Day 22
Reading Buffett's Letters
1977 inflation tax · 1989 mistakes · 2008 greedy when fearful · 2020 admitting error
Day 23
Dissecting Business Quality
Five Forces · Recurring vs transactional · Pricing power · Unit economics
Day 24
Culture & Leaders
Capital allocation · Institutional imperative · Skin in the game · Culture & succession