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← A business should keep cushy margins, some blubber, so it can make mistakes without them mattering much.
17 connected korrents · 15 moments from 1 Jun 2022 to 8 Oct 2026.
Everything filed under investing
investing
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stock market
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value investing
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management
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startups
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creativity Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: A business should keep cushy margins, some blubber, so it can make mistakes without them mattering much. A business should keep cushy margins, some blubber, so it can make mistakes without them mattering much. Last stated 9 months ago
15 Feb 2026
JF
Jason Fried — holds since 2026-02-15 — tap for who they are
Same subject: A margin only counts while you are still investing heavily, because cutting the investment raises this year's margin and lowers the long-term one. — tap to centre the map on it A margin only counts while you are still investing heavily, because cutting the investment raises this year's margin and lowers the long-term one. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are
Same subject: A business should not have customers it cannot afford to lose; if you could lose a hundred at random and be fine, you have a good business. — tap to centre the map on it A business should not have customers it cannot afford to lose; if you could lose a hundred at random and be fine, you have a good business. Last stated 9 months ago
15 Feb 2026
JF
Jason Fried — holds since 2026-02-15 — tap for who they are
Same subject: A margin of safety means paying a discount deep enough that being wrong about what a company is worth still leaves you whole. — tap to centre the map on it A margin of safety means paying a discount deep enough that being wrong about what a company is worth still leaves you whole. Last stated 3 years ago
20 Feb 2024
BA
Bill Ackman — holds since 2024-02-20 — tap for who they are
Same subject: A company's culture is largely shaped by its profit margins. — tap to centre the map on it A company's culture is largely shaped by its profit margins. Last stated a year ago
11 Jun 2025
JF
Jacob Falkovich — holds since 2025-06-11 — tap for who they are
Same subject: A business can have market fit, real advantages, and sustained effort behind a hard product and still fail if it doesn't give customers a strong enough reason to switch from what they already use. — tap to centre the map on it A business can have market fit, real advantages, and sustained effort behind a hard product and still fail if it doesn't give customers a strong enough reason to switch from what they already use. Last stated 5 months ago
2 Jun 2026
JJ
Justin Jackson — holds since 2026-06-02 — tap for who they are
Same subject: Early-stage companies often lose their expressive, artful work as they grow into enterprises, and if you can keep it, you should. — tap to centre the map on it Early-stage companies often lose their expressive, artful work as they grow into enterprises, and if you can keep it, you should. Last stated 2 months ago
15 Sept 2026
NF
Nev Flynn — holds since 2026-09-15 — tap for who they are
Same subject: Businesses that reach the right size often ruin what was great about them by pushing for more instead of being content there. — tap to centre the map on it Businesses that reach the right size often ruin what was great about them by pushing for more instead of being content there. Last stated 9 months ago
15 Feb 2026
JF
Jason Fried — holds since 2026-02-15 — tap for who they are
Same subject: Having little competition is bad for a business, because without a rival nobody keeps you honest about whether something is really good. — tap to centre the map on it Having little competition is bad for a business, because without a rival nobody keeps you honest about whether something is really good. Last stated 9 months ago
18 Jan 2026
TL
Tobias Lütke — holds since 2026-01-18 — tap for who they are
Same subject: A bubble can only be identified in retrospect, so arguing about whether one is happening now cannot be settled now. — tap to centre the map on it A bubble can only be identified in retrospect, so arguing about whether one is happening now cannot be settled now. Last stated 11 months ago
9 Dec 2025
HM
Howard Marks — holds since 2025-12-09 — tap for who they are
Same subject: A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. — tap to centre the map on it A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate. Last stated 4 years ago
1 Jun 2022
OB
Olivier Blanchard — holds since 2022-06-01 — tap for who they are
Same subject: A founder who does not know their own goal dies by a thousand compromises and ends up running a company they do not want to work at. — tap to centre the map on it A founder who does not know their own goal dies by a thousand compromises and ends up running a company they do not want to work at. Last stated 5 months ago
2 Jun 2026
MP
Mark Pincus — holds since 2026-06-02 — tap for who they are
Same subject: A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires. — tap to centre the map on it A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires. Last stated 11 months ago
3 Dec 2025
AD
Aswath Damodaran — holds since 2025-12-03 — tap for who they are
Same subject: A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. — tap to centre the map on it A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. Last stated 8 months ago
3 Mar 2026
SB
Sanjay Bakshi — holds since 2026-03-03 — tap for who they are
Same subject: A portfolio you cannot hold through an ordinary market cycle is not a portfolio but a bet. — tap to centre the map on it A portfolio you cannot hold through an ordinary market cycle is not a portfolio but a bet. Last stated 2 months ago
25 Aug 2026
NM
Nick Maggiulli — holds since 2026-08-25 — tap for who they are
Same subject: A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price. — tap to centre the map on it A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price. Last stated a year ago
21 May 2025
EZ
Ed Zitron — holds since 2025-05-21 — tap for who they are
Same subject: A society's prosperity comes from its productivity, not from the financial system or stock market. — tap to centre the map on it A society's prosperity comes from its productivity, not from the financial system or stock market. Last stated a month ago
25 Sept 2026
MM
Mr. Money Mustache — holds since 2026-09-25 — tap for who they are
Same subject: AI stocks are behaving as if they are insensitive to interest rate changes. — tap to centre the map on it AI stocks are behaving as if they are insensitive to interest rate changes. Last stated 4 weeks ago
8 Oct 2026
BD
Brad DeLong — holds since 2026-10-08 — tap for who they are
At the centre
A business should keep cushy margins, some blubber, so it can make mistakes without them mattering much.
Holds Read this korrent →
A margin only counts while you are still investing heavily, because cutting the investment raises this year's margin and lowers the long-term one.
Holds
A business should not have customers it cannot afford to lose; if you could lose a hundred at random and be fine, you have a good business.
Holds
A margin of safety means paying a discount deep enough that being wrong about what a company is worth still leaves you whole.
Holds
A company's culture is largely shaped by its profit margins.
Holds
A business can have market fit, real advantages, and sustained effort behind a hard product and still fail if it doesn't give customers a strong enough reason to switch from what they already use.
Holds
Early-stage companies often lose their expressive, artful work as they grow into enterprises, and if you can keep it, you should.
Holds
Businesses that reach the right size often ruin what was great about them by pushing for more instead of being content there.
Holds
Having little competition is bad for a business, because without a rival nobody keeps you honest about whether something is really good.
Holds
A bubble can only be identified in retrospect, so arguing about whether one is happening now cannot be settled now.
Holds
A central bank can eliminate a self-fulfilling ('sunspot') debt crisis simply by credibly committing to buy as many bonds as needed at the low interest rate.
Holds
A founder who does not know their own goal dies by a thousand compromises and ends up running a company they do not want to work at.
Holds
A company priced in the trillions is not thereby overpriced; the test is what revenues and margins that price actually requires.
Holds
A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack.
Holds
A portfolio you cannot hold through an ordinary market cycle is not a portfolio but a bet.
Holds
A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price.
Holds
A society's prosperity comes from its productivity, not from the financial system or stock market.
Holds
AI stocks are behaving as if they are insensitive to interest rate changes.
Holds