Framework

US deficits: much more than manufacturing

Analyzing the exposure of the US to its own trade deficits, going well beyong manufacturing and jobs, into credit, demand and productivity.

Aug 3, 2025

Where do stock returns come from? A napkin framework.

Distilling down a DCF to its simplest components

Jun 29, 2025

Trade and Capital at the Crossroads of War

Global imbalances and the forces that may soon reshape them

Apr 6, 2025

A Basic Framework for Growth Stocks and Industries.

Tools for dealing with high multiples, uncertainty, and qualitative data.

Dec 7, 2024

A Framework For The Cyclical Industries

How to understand, model and find opportunities among the cyclicals.

Nov 2, 2024

China’s Model: Doomsday or Escape Velocity?

Rethinking the Chinese investment-led model from the basics of business cycle theory.

Sep 15, 2024

A dog investment recognition method

How to quickly filter out bad companies.

Nov 13, 2023

#nojs-banner { position: fixed; bottom: 0; left: 0; padding: 16px 16px 16px 32px; width: 100%; box-sizing: border-box; background: red; color: white; font-family: -apple-system, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 13px; line-height: 13px; } #nojs-banner a { color: inherit; text-decoration: underline; } This site requires JavaScript to run correctly. Please turn on JavaScript or unblock scripts