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Welcome to my website! The site is designed to provide easy access to my books, blog, journal articles and white papers. The content on the site is updated at least once a week, as my blog posts come out every Friday. Other site pages will be updated as new articles, white papers and books appear.

Most of my work has an investment focus, at least in the broadest sense. Good investors – those who preserve and grow their capital across the decades and generations – are educated investors. Whatever aspect of the investment process they are working on, they know the difference between best investment practices and whatever everybody else is doing. This site is designed to help you be that informed investor.

Here is a quick snapshot of what’s on the site:

  • My bio. In short, I’ve been advising very substantial investors since 1979. Many of the clients I work with today are the grandchildren of the folks I started with way back when. You can check out Greycourt, the company I founded, here.
  • My blog. A new post appears every Friday. As noted, the blog has an investment focus, but I interpret that very broadly. So far there are nearly 200 posts, i.e., almost four years’ worth of the blog. If you would like to receive the blog via email (it’s free), you can do so here.
  • My books. I’ve published three investment books, a book of poetry, and I’ve edited two other books. More to come!
  • Articles. I’ve published scores of articles over the years, including articles in refereed journals, white papers, and newspaper and magazine articles.

I hope you find the site useful and interesting. Please let me know what you think by contacting me here.

Recent Blog Posts…

  • On Inflation

    On Inflation

    [So many people have asked about my views on inflation that I’m pausing my antitrust series to address that topic. Back to antitrust next week.] If [Biden] succeeds, the President will cast 40 years of economic doctrine on history’s ash heap. But that’s a big if. Michael Hirsh in Foreign … read more »
  • Antitrust Is More Interesting Than You Think, Part 7

    Antitrust Is More Interesting Than You Think, Part 7

    Last week I suggested that the enforcement of America’s antitrust laws has made little sense since the Sherman Act was adopted in 1890. In fact, the word that comes to mind is “fiasco.” I mentioned earlier in this series the fact that socialist economies consist of almost nothing but monopolies … read more »
  • Antitrust Is More Interesting Than You Think, Part 6

    Antitrust Is More Interesting Than You Think, Part 6

    When people who don’t like free markets (i.e., almost everybody in academia) talk about antitrust law, they almost always begin by saying something like this: “One of the core defects of market economies is the inevitability of monopolistic practices.” These people seem not to have noticed that socialist economies consist … read more »
  • Antitrust Is More Interesting Than You Think, Part 5

    Antitrust Is More Interesting Than You Think, Part 5

    Night School The plaintiff’s law firm wanted to impress their client with how important the case was to them, and so there were never fewer than five lawyers at the plaintiff’s table. Plus, of course, the plaintiff himself. We wanted to impress the jury with how outgunned-but-plucky we were, and … read more »
  • Antitrust Is More Interesting Than You Think, Part 4

    Antitrust Is More Interesting Than You Think, Part 4

    More vignettes to show you what it was like to try a case – a big case – with Mr. W, the senior Reed Smith partner who looked terrific but whose elevator didn’t seem to go all the way to the top floor. After that I’ll return to my original … read more »