The Art of Investing

As you grow into adulthood, you’ll be pulled in many directions—by your ambitions, friends, society, and the markets. Money won’t be the most important thing in your life, but how you handle it will shape your freedom, your opportunities, and even your happiness. I’ve spent my life allocating assets for families, institutions, and myself. What follows is a letter—really, a roadmap—of what I’ve learned. Consider it my attempt to pass you a compass for your financial journey. 1

Unlike public companies, private businesses don’t file 10-Ks, 10-Qs, or investor decks —so a solid financial analysis requires more digging, forensic thinking, and structured modeling. Whether you’re an investor, acquirer, lender, or internal operator, this guide walks through a professional-grade, step-by-step framework  for analyzing a privately held business. 1. Start With Core Financial Statements For a meaningful analysis, collect at least three full fiscal years  of: In

Conviction is not blind faith.  It’s a deeply held, well-researched belief in the long-term value and potential of a particular asset or...