Writing

I write when there is something worth saying, not on a schedule. Most of it comes from the work: deal evaluations, add-back forensics, what a CIM says versus what the numbers say, why American machine shops are dying of succession while the country runs short of the parts they make, and what the first ninety days of ownership actually look like. Some of it covers companies I back as an angel and the markets around them. Every piece that touches a position I hold discloses that position.

I publish my losses as visibly as my wins. If a thesis turns out wrong, a post-mortem follows.