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Averaging Up
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  • About
  • Mental Models
  • The Infinite Investor
    • Preface & Table of Contents
    • Chapter I: The Lie of the Average
    • Chapter II: Ergodicity and Behavior
    • Chapter III: The Foundation
    • Chapter IV: The Four Buckets
    • Chapter V: The Lenses
    • Chapter VI: The Selection Process
    • Chapter VII: The Exceptions
    • Conclusion: From Finite to Infinite
Averaging Up

Month: October 2026

Investing: The Art of Converting Short Duration Into Long – From Buffett’s turn toward quality to Microsoft’s wager on a new base

Posted on October 1, 2026

For every dollar retained by the corporation, at least one dollar of market value will be created for owners. — Warren Buffett, 1984   Download the Slides Deck: Capital_Conversion  Listen to the deep-dive discussion – The Physics of Converting Short Into Long   Early in his career, Warren Buffett bought cheap. He acquired assets trading…

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