Listen to the deep-dive discussion – When the Best Growth Costs Nothing (19:42 min) “That wave was a wave we didn’t know existed. We hadn’t seen waves like that.” — Laird Hamilton, on the Millennium Wave at Teahupo’o * * * I. When Growth Is Free Every business can be decomposed into two forces….
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Duration Revisited – From A+B to A×B
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…
The Paradox of Wealth: Why Survival Beats Optimization (A Manifesto for the Ergodic Investor)
You have spent years building your wealth. You took risks, you optimized, and you won. You have reached the summit. But standing at the top, a strange feeling takes hold: vertigo. Why? Because you intuitively realize that the rules that got you here are not the rules that will keep you here. Traditional finance is…