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Investing

How to Read a Cash Flow Statement
Why profit tells you what a company earned—and cash flow tells you whether it's real
 • The School of Knowledge
45 Financial Metrics Owner-Operators Must Understand
The School of Knowledge is the weekly newsletter for SME owners and investors who want frameworks they can actually use — frameworks, checklists, and…
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A Lot of Good Business Decisions is Just Figuring Out What You Don’t Want
Via negativa, Munger's inversion, Buffett's too hard pile: the smartest operators use subtraction, not addition. Here's how to build your exclusion…
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Why Warren Buffett Reads the Balance Sheet Before Anything Else (And How to Do It Yourself)
Learn how to read a balance sheet from scratch — assets, liabilities, equity, and the ratios that matter most to investors and business operators.
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Every Business Decision Has a Hidden Price — Here's How to Calculate It
A real-world capital allocation case study on opportunity cost for operators and investors.
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The 7 Types of Business Power: Network Economies
Why Meta's 3.5 billion users make It almost impossible to compete with
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Why Great Returns Attract Terrible Capital
A parable about market cycles, vulture investors, and the holiday armadillo
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Welcome to The School of Knowledge
Your 1-stop shop for systems thinking, mental models and frameworks
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3 Must Know Competitive Advantages In Investing (And Life)
Lessons from The Nomad Letters
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How Understanding Probability Can Make You Rich
A lesson from the Nomad Letters
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Poor Charlie’s Almanack
“There are answers worth billions of dollars in a $30 history book.”
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The Psychology of Human Misjudgment
Charlie Mungers infamous talk simplified into a checklist
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