Investing

How I hold things

We treat every startup investment as though it will go to zero. Markups get tracked and none of it counts until it is liquid.

I do not sell a position unless I have a reason to move the money somewhere else, or need the cash for something specific.

We plan as though Social Security will never pay us anything.

What I expect

More volatility. Inflation from an aging population and government debt, deflation from AI and cheap energy, and neither on a schedule anyone can predict. A large cushion is how we sit through that without having to act.

So I look for things that do well in a world that stays unpredictable.

The research practice

I read and write about investing to get my own thinking right. There is no publishing schedule, no fund, and no audience to grow. The primary customer is my future self.

So this page is short.