The story of a man who spent 22 years unearthing a path through a 300ft mountain and the lesson it teaches us — Falguni Devi carefully stepped on the rocky trail as she used one hand to balance a water pot on her head. Her other hand carried food for her husband, who toiled as a farmhand on the other side of the 300-foot mountain she ascended. Devi was navigating the path she…

Expelled Russian financier turned political activist explains the kleptocracy that has led to Putin’s wealth — and war in Ukraine. — In 2003, Vladamir Putin ordered the arrest of Mikhail Khodorkovsky on suspicion of tax evasion and illegally acquiring a stake in a Russian state-owned company. What made this story noteworthy were not the charges (corruption is endemic in Russia) but the fact that Khodorkovsky was Russia’s wealthiest oligarch, an oil…

Errors of omission and selling too early — David Rubenstein is the billionaire co-founder and co-chairman of private equity firm The Carlyle Group, chairman of several civic and cultural institutions, and host of The David Rubenstein Show, a popular podcast that explores “successful leadership”. Given Rubenstein’s deep business and leadership understanding, one might assume The Carlyle Group’s portfolio…

Portfolio construction gleaned from an A.I. guided victory — On July 4, 1981, a 29-year-old Stanford University computer scientist named Doug Lenat entered the Traveller Trillion Credit Squadron tournament in San Mateo, California. Contestants were allocated an imaginary budget of a trillion dollars to build warships that partook in battle via knockout rounds to determine the winner. …

My April 28th Airbnb Booking was an efficient way to donate money — Today I learned that Airbnb would waive its service fees when guests book stays in Ukraine. Airbnb Inc. will not retain any of the proceeds. It’s Airbnb’s well-intentioned effort of providing an efficient method to donate money directly to Ukrainians. According to MorningBrew.com, …

When Russia invaded Ukraine, stock price volatility was more revealing than closing prices… — I logged on to my brokerage account at 9 a.m on February 24, 2022, the day Russia launched a large-scale invasion of Ukraine. I noticed that the value of my portfolio was not only considerably lower but that many of my resting limit orders had been triggered. …

Serendipitously benefiting from San Francisco’s housing boom — In May of 2013, a housemate moved out of our Russian Hill flat in San Francisco. …

Thoughts on wealth creation, transfers, and luck over a bowl of oatmeal… — While adding sliced strawberries to my oatmeal, it dawned on me that my breakfast preparation offered insight into wealth creation and its subsequent transfers. Oatmeal must be brought to a boil and then cooled a bit to eat. Adding pieces of fruit makes the steamy porridge even tastier. …

…and some fun facts. — The chart above, produced by Goldman Sachs Investment Research, highlights five stocks that account for 35% of the S&P 500’s year-to-date returns as of December 9, 2021. The y-axis illustrates each stock’s share of the returns; the x-axis lays out each stock’s corresponding index share at the start of the…