Listen to the deep-dive discussion – How Physical Duration Drives Multiplicative Growth (27:34 min) “Time is the friend of the wonderful business, the enemy of the mediocre.” — Warren Buffett * * * The Missing Dimension Duration is one of the oldest tools in finance. Bond investors have used it for decades to measure…
Month: February 2026
The Physics of Compounding – Why Great Businesses Obey Laws, Not Decisions
Listen to the deep-dive discussion – The Physics of Zero Cost Growth (49:08 min) “The most powerful force in the universe is compound interest.” — Attributed to Einstein * * * The Question Nobody Asks Every investor asks the same question: what should I buy? Few ask the better question: why does it compound? The…
What Chris Hohn’s Portfolio Reveals – About the Hierarchy of Tollbooths
Listen to the deep-dive discussion – Chris Hohn’s 53 Billion Dollar Tollbooth Bet. (44:02 min) “The most important thing is high barriers to entry. If you find a company that is going to be a good company long-term, then you should hold on to it because there’s a persistency of these barriers to entry.” —…
The Double Swell Freesurfer – When Two Waves Converge on the Same Reef
Listen to the deep-dive discussion – The AI and ETF Double Swell. (29:30 min) 1. A Taxonomy of Structural Growth In The Freesurfer, we introduced a formula for the rarest kind of business: one that grows without paying for its own growth. We called it A × B. A is the moat—the proprietary toll…
The Way to the Mountain Guide: When the Portfolio Becomes the Position
Listen to the deep-dive discussion – Stop Climbing When You Reach the Summit (29:42 min.) “When you start to confuse Freddie Mac, Sallie Mae, and Fannie Mae with members of your family, and you remember 2,000 stock symbols but forget the children’s birthdays, there’s a good chance you’ve become too wrapped up in your…
The Freesurfer – Growth That Costs Nothing
Listen to the deep-dive discussion – The Freesurfer Stocks That Grow for Free (32:41 min) “The big money is not in the buying and the selling, but in the waiting.” — Charlie Munger I. The Architecture The Infinite Investor framework organizes capital into four functional buckets. Cash (10–25%) is the perpetual option on the…
The Attention Cost – Why Your Smallest Positions Are Your Most Expensive
By Jocelyn Dubé Listen to the deep-dive discussion – The Attention Cost of Bookmark Stocks (16:18 min) “The difference between successful people and very successful people is that very successful people say no to almost everything.” — Warren Buffett I. The Universal Principle Every decision has two costs. The first is visible: money, time,…
Position Sizing – The Final Act of Conviction
By Jocelyn Dubé Listen to the deep-dive discussion – Position Sizing Matters More Than Stock Picking (31:18 min) “You have your best idea and your tenth-best idea in the portfolio at the same weight. Why?” — The Infinite Investor “The idea of excessive diversification is madness. Going into your seventh one rather than putting…
Cash as the Infinite Option
Listen to the deep-dive discussion – Cash is the Infinite Option (18:41 min) Cash as the Infinite Option The investment industry has a phrase for uninvested capital: “cash on the sidelines.” The metaphor reveals how the industry views cash—as a spectator, waiting to get in the game. During the era of near-zero interest rates,…