Meet fellow members and great investors at Latticework 2026.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. Perpetuity - Christopher Tsai

2. AI economy - Azeem Azhar, et al.

3. Normal service - Michael Godfrey

4. AI cost inflation - Joost van Dreunen

5. Opportunity cost - Anh Hoang

6. Only weird survives - George Mack

7. Flaw of prediction markets - Joachim Klement

8. Kirkland’s private label story - Trung Phan

9. Way to think about data quality - Abraham Thomas

10. Cartography of the risk-free rate - Will Thomson

11. How to learn more and forget less - Mauricio Heck

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Letters, Presentations, Writeups…

Industry Insights: ai | credit | energy | memory chips | oil | streaming

Geographic Insights: Africa | China | India | Japan | Taiwan | UK

Letters: Brock Milton | Manole | Merrill | Ocean Park | Patient | Protean | Royce | St. James | Tikehau | Value Firm | Vltava Fund

Company Insights: Austco Healthcare | Constellation Software | Fujita / Sanyo | Pitney Bowes | Regal Rexnord | Seacor Marine | Somnigroup

Company Slides: Bang & Olufsen | FactSet | Franklin Covey | General Mills | Greenbrier | Lindsay | MSC Industrial | Prosus | Sainsbury | Sodexo | Wise

5 Videos We Are Watching This Week

1. CNBC - Alex Karp on Anthropic, OpenAI, and why top CEOs are livid

2. iCapital - Cliff Asness on why expensive and a bubble are not the same

3. Stanford - Microsoft’s Satya Nadella on scaling the frontier ecosystem

4. Complex - Mark Zuckerberg on AI, jobs, regulation, and Meta glasses

5. Economic Club - David Solomon on AI, growth, and the future of jobs

5 Podcasts We Are Listening to This Week

1. Sourcery - Zynga founder Mark Pincus on building successful products

2. Dwarkesh - Grant Sanderson on AI and the future of math and proofs

3. David Senra - Cognition’s Scott Wu and the first AI software engineer

4. Goldman Sachs - Honeywell’s CEO on where industrial AI is heading

5. In Good Company - Fortescue’s CEO on mining and decarbonization

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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Meet great investors at Latticework 2026.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. SpaceX index - Alejandro Yela

2. The missing pipe - Ed Conway

3. Thoughts on cable - John Huber

4. AI changed my mind - Andrew Walker

5. Electrical transmission - Dana Golden

6. How to win a space war - Christian Keil

7. Critical mineral security - Farrell Gregory

8. Arc of financial innovation - Phil Bak

9. How christianity went viral - Tomas Pueyo

10. Blind extrapolation in finance - Byrne Hobart

11. Cobra effect in executive comp - James Emanuel

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Letters, Presentations, Writeups…

Industry Insights: ai | defense | rare earths | semiconductors | software

Geographic Insights: China/Taiwan | Europe | UK

Letters: Atai | Crossroads | Goldman Sachs | J.P. Morgan | Merrill

Company Insights: Charter Communications | FST Corp | Grainger | Inter&Co | Latour | Meta | Nexteq | United Parks | Unitree | YouGov

Company Slides: BlackBerry | Carnival | FedEx | H&M | Heineken | KB Home | McCormick | Micron | Novagold | Winnebago | Worthington Steel

5 Videos We Are Watching This Week

1. Zulauf - Felix Zulauf, Jeffrey Gundlach, and Grant Williams on macro

2. How I Write - Pixar’s Andrew Stanton on storytelling and visual craft

3. WealthTrack - Jim Grant on the rising dangers in private equity funds

4. Diary Of A CEO - Jeremy Grantham on markets, AI, and climate risk

5. Columbia B-School - Daiichi Sankyo’s Ken Keller on its oncology bet

5 Podcasts We Are Listening to This Week

1. Acquired - How Disney built the ultimate nostalgia-monetizing engine

2. How I Built This - Stephen Starr on building restaurants on a gut feel

3. In Good Company - Holcim CEO on concrete, AI, and Europe homes

4. Merryn Talks Money - Carson Block on AI and possible market crisis

5. Top Traders Unplugged - Michael Pettis on China’s global trade trap

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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Meet great investors at Latticework 2026.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. Ecosystem - Satya Nadella

2. Societal decay - Phil Bak

3. Tribute system - Ray Dalio

4. Griffin’s billions - Gary Sernovitz

5. A trillion dollars - Byrne Hobart

6. Volatility inversion - Chris Satterthwaite

7. Knowing when to sell - Todd Wenning

8. Terrified of small bets - Phil Le-Brun

9. LLM council groupthink - Rohit Krishnan

10. How to earn a billion dollars - Paul Graham

11. Index inclusion consequences - Aswath Damodaran

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Letters, Presentations, Writeups…

Industry Insights: ai | banks | biopharma | energy | semis | software

Geographic Insights: China | Egypt | Europe | Japan

Letters: Bireme | Maestria | Merrill | Turtle Creek

Company Insights: Adyen | Campbell’s | Constellation Software | Dauch + Nomad Foods | Fiserv | Intel | Shopify | Snowflake | SThree

Company Slides: Accenture | Carmax | FirstGroup | Ivanhoe Mines | Jabil | Kroger | Lennar | MSCI | Roku | Safe Bulkers | Vallourec | Wiley

5 Videos We Are Watching This Week

1. Barron’s - Howard Marks and Bruce Flatt on markets and cycles

2. Columbia - Henry Kravis on the growth of private markets today

3. DoubleLine - Jeffrey Gundlach on Kevin Warsh and the Fed reset

4. iConnections - Seth Klarman on stocks, value, and the AI bubble

5. Goldman Sachs - Maverick Capital’s co-CIOs on real AI winners

5 Podcasts We Are Listening to This Week

1. Odd Lots - Jeremy Grantham on spotting a bubble before it pops

2. Hargreaves - Bill Ackman on markets, AI, and concentrated bets

3. David Senra - Ed Catmull on building Pixar and creative cultures

4. Masters in Business - Seth Klarman in a frank talk with Ritholtz

5. Behind the Balance Sheet - James Aitken on AI, gold, and macro

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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Meet like-minded investors at the Latticework 2026 summit in Chicago.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. Fable - Shakeel Hashim

2. Cycles - Luke Bridgeman

3. AI theologies - Duncan Umphrey

4. AI exponential - Dario Amodei

5. Paying attention - David Epstein

6. Great switcheroo - Adam Mastroianni

7. Sample efficiency - Dwarkesh Patel

8. Principled thinking - Ray Dalio

9. Silent revolutionaries - Scott Sumner

10. Anti-monopoly fatigue - Noah Smith

11. Markets defy prediction - Devendra Bambardekar

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Letters, Presentations, Writeups…

Industry Insights: accounting | artificial intelligence | banking | software

Geographic Insights: Australia | Europe | Ireland | Japan | UK

Letters: GDS Investments | Merrill | RGA Investment Advisors | T. Rowe

Company Insights: Fiserv | Google | Hikari Tsushin | Intel | Paycom Software | Rentokil | SpaceX | Wise

Company Slides: Adobe | Campbell’s | Dollarama | EnerSys | Graham | Honeywell | Land’s End | Lufthansa | McGraw Hill | Oracle | Stitch Fix

5 Videos We Are Watching This Week

1. CNBC - Guy Spier talks about his cancer diagnosis and shares wisdom

2. Bloomberg - Inside Anthropic, the lab racing to create frontier models

3. David Senra - Gustav Söderström on the firm that Apple could not kill

4. iConnections - Short seller Jim Chanos on spotting frauds and bubbles

5. Brandes Center - Panel on value investing in today’s high-tech world

5 Podcasts We Are Listening to This Week

1. Latticework - Chris Bloomstran puts US equities in historical context

2. How I Built This - Tobias Lütke on how a snowboarder scaled Shopify

3. 100 Year Thinkers - Robert Hagstrom on the flaws of portfolio theory

4. Knowledge Project - Bill Gurley on systems and second-order impacts

5. Masters in Business - Chris Davis of Davis Advisors on market cycles

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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Meet like-minded investors at the Latticework 2026 summit in Chicago.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. IPO wave - Mauricio Heck, James Emanuel, et al.

2. IPO info leakage - Francine McKenna

3. SpaceX valuation - Aswath Damodaran

4. S&P holds the line - Phil Bak

5. AI consumer surplus - Dan Rasmussen

6. Alphabet’s capital pivot - Ben Thompson

7. Evaluating an economy - Scott Sumner

8. World models taxonomy - Fei-Fei Li

9. Global macro long-short - Ray Dalio

10. LLMs and consciousness - Erik Hoel

11. Hedging the AI-pocalypse - Andrew Walker

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Letters, Presentations, Writeups…

Industry Insights: ai | art | banking | commercial real estate | defense | gaming | insurance | insurance brokers | crude oil | semiconductors | software

Geographic Insights: Europe | Japan | Taiwan | UK & Ireland

Letters: Aikya | Durkin | Long Cast | Merrill | Tweedy | Voss | Vanguard

Company Insights: Amadeus | Bristol Myers Squibb | EchoStar | Ferrari | Lennar | Limoneira | MasterBrand | Paragon Banking | Rollins

Company Slides: AEO | Apollo | Donaldson | Gap | GitLab | HPE | Lufthansa | Macy’s | Medtronic | SAIC | Samsara | Solaris | Ulta Beauty | VersaBank

5 Videos We Are Watching This Week

1. LSE - Ray Dalio on his investment principles, debt cycles, geopolitics

2. Re:signal - Rory Sutherland on AI, trust collapse and corporate growth

3. Ed Yardeni - Fear of missing out versus fabulous earnings momentum

4. Ronald Reagan - Jamie Dimon on the road ahead for the US economy

5. David Rubenstein - Jeff Aronson on private credit and macro outlook

5 Podcasts We Are Listening to This Week

1. All-In - Bill Ackman on his evolved investing philosophy and approach

2. Odd Lots - Lewis Hart on the hidden plumbing of commodity finance

3. Dwarkesh - Alex Imas and Phil Trammell on what is scarce after AGI

4. Knowledge Project - Mark Pincus on patterns from winning products

5. Invest Like the Best - Uber CEO Dara Khosrowshahi on AI and rides

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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Meet like-minded investors at the Latticework 2026 summit in Chicago.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. IPOs - Aurelion Research

2. SpaceX - Ben Thompson

3. Bottlenecks - Anh Hoang

4. AI disruptees - Charles Carter

5. Electricity bills - Nic Carter

6. Dumbo could fly - Erik Hoel

7. After automation - Dan Shipper

8. Open source future - Bill Gurley

9. Geology to geography - Will Thomson

10. 250-year-old company - Eric Markowitz

11. AI and the material world - Alex Duffy

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Letters, Presentations, Writeups…

Industry Insights: artificial intelligence | banking | data centers in space | energy | oil and gas | semis | software | transport infrastructure

Geographic Insights: Australia | Europe | Germany | Japan | UK | Ukraine

Letters: 1949 Value Advisors | Crossroads Capital | Graham & Doddsville | Hayden Capital | J.P. Morgan | LVS Advisory | Merrill | SaltLight

Company Insights: Alico | Baker Hughes | Barratt Redrow | Bristol Myers | dLocal | DoorDash | Gibraltar Industries | Pure Cycle | Take-Two | Zoetis

Company Slides: Abercrombie | Agilent | CIBC | Costco | CSW Industrials | Dick’s | Dollar Tree | EasyJet | HP | Kohl’s | NetApp | Salesforce | Snowflake

5 Videos We Are Watching This Week

1. a16z - Apollo’s Marc Rowan on private markets and software repricing

2. Sohn - Bellas, Marques and Rosen on long-term fundamental investing

3. CNN - Rivian’s RJ Scaringe and OpenAI’s Bret Taylor on AI and jobs

4. Bill Gurley - McConaughey on careers, passion and long-term success

5. My First Million - Mohnish Pabrai on lessons that save investors time

5 Podcasts We Are Listening to This Week

1. How I AI - Felix Rieseberg of Anthropic on how he uses Cowork mode

2. David Senra - Rick Rubin on finding your life's work and creative path

3. In Good Company - Prosus CEO Bloisi on why AI is still under-hyped

4. Knowledge Project - Lessons from Hyundai’s founder Chung Ju-yung

5. Invest Like the Best - Dan Loeb on his 30-year evolution in investing

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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Meet like-minded investors at the Latticework 2026 summit in Chicago.

MOI Global members, scroll down for member news and updates.

11 Articles We Are Reading This Week

1. Bubble - Cullen Roche

2. Perfection - Dan Rasmussen

3. Bizarro world - Logan Shearer

4. Cheap evidence - Mauricio Heck

5. Homo agenticus - Rohit Krishnan

6. Global fertility crisis - Derek Thompson

7. Moats and value traps - Kai Wu

8. Commencement speech - Ray Dalio

9. China’s optimism and fear - Zilan Qian

10. Counterpoint to zero-sum thinking - Eric Markowitz

11. Swiss watches and the dream equation - Trung Phan

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Letters, Presentations, Writeups…

Industry Insights: banking | consumer health | gaming | meatpacking | neo-clouds | platinum group metals | semiconductors | software | technology

Geographic Insights: China | Europe | Ukraine | US

Letters: First Eagle | Longleaf | Merrill | Robotti | Silver Beech | Tactile

Company Insights: Brambles | Enogia | Establishment Labs | GrafTech | MercadoLibre | Monzo | Nvidia | Sato Foods | Sea Ltd | ServiceNow

Company Slides: Borr Drilling | Deere | Eagle Materials | Enersys | Golar LNG | Keysight | Nvidia | Ryanair | Star Bulk | Take-Two | Walmart | Workday

5 Videos We Are Watching This Week

1. Norges - Rubenstein, Griffin, O’Leary, and Grew discuss global markets

2. Founders - Strauss Zelnick, the man who built Grand Theft Auto 6 hit

3. Bloomberg - Jamie Dimon on hiring more for AI, fewer bankers at JPM

4. Prof G Markets - Aswath Damodaran on the AI rally and IPO outlook

5. In Good Company - Pfizer CEO Bourla on AI in medicine and China

5 Podcasts We Are Listening to This Week

1. Acquired - Ben Gilbert and David Rosenthal trace Vanguard’s history

2. Squawk Pod - Jeff Bezos with Andrew Ross Sorkin at Blue Origin HQ

3. How Leaders Lead - Mark Smucker on how iconic brands stay relevant

4. Invest Like the Best - Gavin Baker on watts, wafers, future of AI infra

5. Behind the Balance Sheet - Jeremy Grantham on bubbles and crashes

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

Join fellow investors at our flagship investment summit, Latticework 2026.

11 Articles We Are Reading This Week

1. Value 4.0 - Christopher Tsai

2. Base rates - Michael Mauboussin

3. Abandon ship - Michael Cembalest

4. Stock duration - Todd Wenning

5. Great forgetting - Scott Sumner

6. AI bubble watch - Harvey Sawikin

7. Shun and shame - Adam Mastroianni

8. Airline bankruptcies - David Oks

9. Return to fundamentals - Antônio Guilherme Coelho de Assis

10. Carnegie’s mental models - Mauricio Heck

11. Future of white-collar work - Kevin Zhang

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Letters, Presentations, Writeups…

Industry Insights: aircraft recycling | artificial intelligence | crude oil | defense | electricity | semiconductors | software | sports

Geographic Insights: Africa | Japan | Spain | UK

Letters: Auxier | Brookfield | Gator | Horizon | J.P. Morgan | Massif Capital | McIntyre | Oaktree Credit | Plural Investing | Silver Ring | Southeastern

Company Insights: Driven Brands | Ferrari | FICO | Leatt | Liberty Global | PayPal | RELX | Takasago Tekko | Uber | Yeti

Company Slides: Alibaba | Allianz | Applied Materials | Bayer | BlackRock | Constellation Energy | Franco-Nevada | HHH | Nubank | Siemens | Toyota

5 Videos We Are Watching This Week

1. Sohn - David Einhorn on his investment framework and big bets today

2. Sohn - Gavin Baker on the AI capex cycle, valuations, and positioning

3. Sohn - Short-selling panel on the most compelling shorts they see today

4. Norges - Stoltenberg and Solomon on geopolitics and the capital flows

5. Gabelli - Berkshire Hathaway panel at this year’s Gabelli Omaha event

5 Podcasts We Are Listening to This Week

1. TWIII - Peter Mantas on biotech and the coiled spring of opportunity

2. Dwarkesh - Eric Jang on building AlphaGo from scratch and its lesson

3. David Senra - Dana White on building UFC into a global combat icon

4. Talking Billions - Kai Wu on intangible assets, dark matter of finance

5. Knowledge Project - Harvey’s Winston Weinberg on his $11B AI firm

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

Join fellow investors at our flagship investment summit, Latticework 2026.

11 Articles We Are Reading This Week

1. Omaha - MOI Global

2. Curiosity - Mauricio Heck

3. Tautologies - Scott Sumner

4. Ode to restraint - Aswath Damodaran

5. Doing too much - David Epstein

6. Amazon’s durability - Ben Thompson

7. Japan auto endgame - Rei Saito

8. Job apocalypse fantasy - David George

9. Core of every investment - James Emanuel

10. New age of knowledge work - Rex Woodbury

11. Smart planners, simple markets - Rohit Krishnan

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Letters, Presentations, Writeups…

Industry Insights: airlines | banking | crude oil | gaming | insurance brokers | meatpacking | oil refining | private credit | software | solar and wind

Geographic Insights: China | Ireland | Japan | Korea | Taiwan

Letters: 1 Main | Baillie Gifford | Bestinver | Brennan Asset Management | Chess | Coatue | Deep Sail | MAAT Investment Group | Masonry

Company Insights: Alquiber | Amazon | Barratt | CCOI / ULH | Daikin | GXO | Hikari Tsushin | Microsoft | Nintendo | Ryanair | Sabre | Sasken

Company Slides: AMD | BD | Cheniere | Cummins | DHT | Eaton | Kraft Heinz | Louisiana-Pacific | Novo Nordisk | PayPal | Realty Income | Zoetis

5 Videos We Are Watching This Week

1. CNBC - Interview with Berkshire Hathaway Chairman Warren Buffett

2. Milken - Citadel’s Ken Griffin on global and domestic issues to watch

3. Brookfield - Larry Fink and Bruce Flatt on the global investing outlook

4. Nikhil Kamath - Howard Marks on AI, debt vs equity, lessons of cycles

5. Ivey Business School - Prof. Stephen Penman on the meaning of value

5 Podcasts We Are Listening to This Week

1. a16z - Former Blackstone President Tony James on Wall Street lessons

2. ChinaTalk - Ken Liu on AI, freedom, and where intelligence is headed

3. Business Brew - Peter Mantas on uniQure and the Huntington's case

4. In Good Company - IBM CEO Arvind Krishna on technology and AI

5. Invest Like the Best - Brian Chesky of Airbnb on going to CEO mode

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

Join fellow investors at our flagship investment summit, Latticework 2026.

Berkshire AGM LIVE (starts 9:15am ET)

11 Articles We Are Reading This Week

1. Omaha - Bogumil Baranowski

2. Hyperscalers - James Emanuel

3. Buy, hold, sell - Dan Shuart

4. Aligned agents - Rohit Krishnan

5. Sound craftsman - Todd Wenning

6. Leaky abstraction - Alex Danco

7. Global imbalances - Adam Tooze

8. Poincaré’s mistake - Mauricio Heck

9. Wealth and structure - Anh Hoang

10. Uncertain uncertainties - Kevin Kelly

11. Private equity markdowns - Greg Obenshain

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Letters, Presentations, Writeups…

Industry Insights: banking | crude oil | economics | hyperscalers | saas | software | tech | gaming | power transformers | private credit | quantum

Geographic Insights: China | Latin America | UK

Letters: Arquitos | CrossingBridge | Elena | Gardner Russo | Gate City | GMO | Miller Howard | Moerus | Pabrai | Pzena | Wedgewood

Company Insights: Altius | Barratt | Booking | Burford | Fairfax | Insperity | Magnum | Markel | Premium Brands | Sabre | ServiceNow | Spotify

Company Slides: Adidas | Alphabet | Amazon | Booking | Crocs | FICO | Lilly | Meta | MGM | Microsoft | Novartis | Parker-Hannifin | Subsea 7 | Volkswagen

5 Videos We Are Watching This Week

1. VALUEx - Spier, Ackman, Bloomstran, Gayner, Lawrence, Pabrai, et al.

2. Prof G Pod - Ray Dalio on the new world order, debt cycles, the future

3. Cheeky Pint - Evan Spiegel of Snap on what’s next after phones, AR/AI

4. Invest Like the Best - Paul Tudor Jones on 50 years of trading lessons

5. Economic Club of D.C. - FedEx CEO Raj Subramaniam on leadership

5 Podcasts We Are Listening to This Week

1. Longriver - Dan Rupp of Parkway Capital on his investment approach

2. Business Brew - Evan Tindell of Bireme on contrarian value investing

3. In Good Company - Jamie Dimon on culture, risk, the world economy

4. Invest Like the Best - Dylan Patel on AI compute supply and demand

5. Conversations with Tyler - Craig Newmark on craft and institutions

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

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11 Articles We Are Reading This Week

1. SpaceX - Aswath Damodaran

2. Better investor - Bogumil Baranowski

3. Hacker mindset - Henrik Karlsson

4. Painter’s painter - Scott Sumner

5. Credit reflexivity - Sam Hanson

6. Internet is real life - Erik Torenberg

7. Corporate dark arts - Andrew Walker

8. Transformer shortage - Rob L’Heureux

9. Management simulator - Rohit Krishnan

10. Interior design of software - Rex Woodbury

11. Hidden trap of compounding - James Emanuel

The Latticework 2026 website is live. Learn more and join us in November!

Letters, Presentations, Writeups…

Industry Insights: aerospace | artificial intelligence | banking | commodities | data centers | forest products | mining | quantum | semiconductors

Geographic Insights: China | Latin America | South Korea

Letters: Bretton | Bronte | Clayton | Hosking | Laughing Water | Maran | Nightview | Rowan Street | Upslope | White Brook | White Falcon

Company Insights: Amazon | Art Vivant | Copart | Danaher | Live Nation | Millrose Properties | Nintendo | Passat | VersaBank | Victory Giant | XPEL

Company Slides: Boeing | Boston Scientific | Capital One | CBRE | Danaher | D.R. Horton | Freeport | Honeywell | Lockheed | LSEG | NextEra | PG&E

5 Videos We Are Watching This Week

1. Stripe - Tony Xu on DoorDash and what drives the restaurant industry

2. Milken - Kravis and Roberts on KKR strategy and the global economy

3. Wharton - Howard Marks on value investing and AI’s grip on finance

4. Goldman Sachs - Farallon Capital’s Nicolas Giauque on the long term

5. Knowledge Project - OpenAI’s Greg Brockman on AI going parabolic

5 Podcasts We Are Listening to This Week

1. Norges - Alain Lam on Xiaomi’s evolution from startup to a tech giant

2. Odd Lots - Daniel Yergin on the global energy landscape post-Hormuz

3. Flyover Stocks - Morgan Housel on money in your 40s and far beyond

4. Excess Returns - Bloomstran on AI capex and the concentration story

5. Invest Like the Best - Dylan Patel on AI’s supply and demand puzzle

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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11 Articles We Are Reading This Week

1. Neglected - Michael Mauboussin

2. March madness - Chris Satterthwaite

3. Serve somebody - Phil Bak

4. American peoples - Rudyard Lynch

5. Corporate dark arts - Andrew Walker

6. Surviving price wars - Tugce Erten

7. Navigating uncertainty - Annie Duke

8. Rewriting terminal value - Todd Wenning

9. Fanaticism and competence - Scott Sumner

10. Dinner that changed everything - Robert Dee

11. Combining value and momentum - Carlos Morales

The Latticework 2026 website is live. Learn more and join us in November!

Letters, Presentations, Writeups…

Industry Insights: banking | fertility | helium | prediction | software | tech

Geographic Insights: Hong Kong | Iran | Japan | UK/Ireland

Letters: Black Bear | Distillate | GDS Investments | JEN Capital | LRZ Capital | Oakmark | Open Square | Pine (Korea) | Third Point | YorkTech

Company Insights: Anthropic | Freee | Grab | Intel | Meta | MTU | Puma

Company Slides: Alcoa | ASML | Bank of America | BlackRock | Carmax | Citigroup | Fastenal | Goldman | J.P. Morgan | Sika | TSMC | Wells Fargo

5 Videos We Are Watching This Week

1. Stripe - Mati Staniszewski of ElevenLabs on the new world of voice AI

2. Stanford - David Rubenstein of Carlyle on pursuing a life of meaning

3. Dwarkesh - Jensen Huang on Nvidia’s supply chain and why it endures

4. In Good Company - Hans Ulrich Obrist on what art teaches business

5. Knowledge Project - Mario Harik of XPO on growing a large business

5 Podcasts We Are Listening to This Week

1. TWIII - Shaun Heelan on market complacency and value case studies

2. Acquired - Ferrari: the pinnacle of luxury, scarcity, and brand strategy

3. Money Makers - Stuart Widdowson on Odyssean and UK small caps

4. Value After Hours - Chris Bloomstran on Buffett and Berkshire today

5. Behind the Balance Sheet - Michael Cembalest on markets, cycles, AI

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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11 Articles We Are Reading This Week

1. Letter - Jamie Dimon

2. Credit - Howard Marks

3. Big things - Ray Dalio

4. Ergodicity - Mauricio Heck

5. Junk bonds - Greg Obenshain

6. Laplace’s dictum - Massimo Fuggetta

7. Economic outlook - Philip Jefferson

8. CAPE improvement - Joachim Klement

9. Future-proof portfolio - Matt Franz & Dan Shuart

10. Fifth industrial revolution - Andre Borochovicius

11. AI adoption by the numbers - Kimberly Tan

We will unveil a new website for the Latticework 2026 summit in the coming days. As part of the launch, we will announce our first wave of confirmed speakers. A limited number of passes will also be available. Stay tuned!

Letters, Presentations, Writeups…

Industry Insights: AI | asset management | crude oil | energy | software

Letters: Alpinum | Commonwealth Private | Desert Lion | Eagle Point | Henchmen | Kingdom | Merrill | Palm Valley | Right Tail Capital | Vltava Fund

Company Insights: Amazon | Bolloré | Fiserv | Global Payments | Meta | Montana Aerospace | PayPal | Texas Pacific Land | UMG | XPEL

Company Slides: BlackBerry | Equinox Gold | Hibiscus | Neogen | PriceSmart | Roots | RPM International | Skillsoft | Stolt-Nielsen | WD-40

5 Videos We Are Watching This Week

1. Citi - Steve Schwarzman on leadership, business strategy, philanthropy

2. NPR - Jamie Dimon on economy, geopolitics, and corporate leadership

3. Stripe - Google CEO Sundar Pichai on the history and the future of AI

4. Cleo Abram - DeepMind's Demis Hassabis on AI in science, medicine

5. Drew Cohen - Chris Mayer on his investment philosophy, when to sell

5 Podcasts We Are Listening to This Week

1. Norges - Prada CEO Andrea Guerra on building iconic luxury brands

2. Odd Lots - Peterffy on professionalizing and scaling prediction market

3. Dwarkesh - Nielsen on the nature of scientific progress and discoveries

4. Acquirer’s - Cooper on global small-cap value, lessons on the markets

5. How Leaders Lead - Former Nike CEO on leadership, future of sports

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

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11 Articles We Are Reading This Week

1. Copper - Will Thomson

2. Narrative - Aswath Damodaran

3. Resilience - Eric Markowitz

4. Macro brief - Mauricio Heck

5. Epic decline - Joost van Dreunen

6. Warning signs - Herb Greenberg

7. Investment fail - Harvey Sawikin

8. Information diet - David Epstein

9. End of economics - Scott Sumner

10. Hassabis’ transformation - Sebastian Mallaby

11. Jensen manifesting the future - Trung Phan

We will unveil a new website for the Latticework 2026 summit in the coming days. As part of the launch, we will announce our first wave of confirmed speakers. A limited number of passes will also be available. Stay tuned!

Letters, Presentations, Writeups…

Industry Insights: agricultural commodities | construction technology | energy delivery | geothermal | oil and gas | software | water infrastructure

Geographic Insights: China | Egypt | Japan | Middle East

Letters: Brock Milton | Hidden Rock | J.P. Morgan | McElvaine | Merrill

Company Insights: BGC | Crocs | IJM | Marex | Meta | Theravance

Company Slides: Cal-Maine Foods | Conagra | Constellation Energy | FactSet | Fortinet | Franklin Covey | Lamb Weston | Lindsay | Methanex

5 Videos We Are Watching This Week

1. Axios - Jamie Dimon on tariffs, trade, geopolitics, and modern banking

2. Norges - IEA’s Fatih Birol on global energy markets and the new crisis

3. Daily Stoic - Arthur Brooks on happiness, deeper purpose, and wisdom

4. Goldman Sachs - New Mountain’s Steve Klinsky on business building

5. Graham Bensinger - Reed Hastings on Netflix, ski resorts, and AI risk

5 Podcasts We Are Listening to This Week

1. Long View - Pat Dorsey on durable economic moats and competition

2. Squawk Pod - Warren Buffett on relaunching his charity lunch auction

3. Business Brew - Sonu Chawla on her investing process and conviction

4. Knowledge Project - Joe Liemandt on AI and the future of education

5. Intangible Economy - Kai Wu and Mauboussin on pricing intangibles

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

Read more

MOI Global members, scroll down for member news and updates.

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A new installment of The Great Rotation Playbook was published this week — Theme 3: The Industrial Renaissance.

11 Articles We Are Reading This Week

1. Lodestar - Aswath Damodaran

2. All weather - Ray Dalio

3. World models - Rohit Krishnan

4. Non-events bias - Scott Sumner

5. AI trust networks - Sakina Arsiwala

6. Disagreeing better - Annie Duke

7. Durable businesses - Todd Wenning

8. Global value spread - Brian Chingono

9. Bicycles for the mind - Rex Woodbury

10. Two paths for software - David George

11. Number of public companies - Mikhail Pevzner

Letters, Presentations, Writeups…

Industry Insights: banking | oil and gas | private credit | software | titanium

Letters: Exor | G&R | Goldman Sachs | J.P. Morgan | Merrill

Company Insights: Berkshire Hathaway | Carnival | Core Natural Resources | Ferrari | Golden Growers | Guardian Pharmacy | JD.com | Merlin Labs

Company Slides: Cemex | Core & Main | Exor | Hapag-Lloyd | KB Home | MillerKnoll | Paychex | Samsonite | Vallourec | Winnebago | Worthington

5 Videos We Are Watching This Week

1. Stripe - Dmitri Dolgov on Waymo’s quest for fully autonomous driving

2. Drew Cohen - Bill Nygren on his approach to investing and stock picks

3. Money of Mine - Django Davidson on capital cycles in mining equities

4. Whitney Tilson - Guy Spier’s ValueX presentation and audience Q&A

5. Graham Bensinger - Barry Diller on media, ambition, and his fortune

5 Podcasts We Are Listening to This Week

1. No Priors - Andrej Karpathy on making smarter AI agents and systems

2. Dwarkesh - Terence Tao on AI’s role in math and scientific discoveries

3. At the Money - Miller Value Fund's Bill Miller IV, conviction investing

4. Oaktree Insights - Howard Marks on Oaktree's 2026 conference ideas

5. Capital Allocators - GMO’s Jeremy Grantham on bubbles and the risks

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

Subscribe now

11 Articles We Are Reading This Week

1. Hormuz - Ray Dalio

2. Ten-baggers - Django Davidson

3. Selling winners - Harvey Sawikin

4. Napkin portfolios - Bogumil Baranowski

5. Othello and Bayes - Massimo Fuggetta

6. Equity risk premium - Aswath Damodaran

7. Value premium eternal - Dan Rasmussen

8. Dividends vs. buybacks - James Emanuel

9. Vignettes from the takeoff - Rohit Krishnan

10. How optimizing kills winners - Todd Wenning

11. Using markets to evaluate policies - Scott Sumner

Letters, Presentations, Writeups…

Industry Insights: banking | electrical grid | offshore | oil and gas | software

Letters: Bumbershoot | Merrill Lynch | Stifel

Company Insights: Ashtead | Century Casinos | KVH | Pershing Sq. | SAP

Company Slides: Accenture | Couche-Tard | Darden | Dollar Tree | FedEx | General Mills | HelloFresh | Macy's | Micron | SAIC | Williams-Sonoma

5 Videos We Are Watching This Week

1. SXSW - Mohnish Pabrai on mental models, compounding, living well

2. Bloomberg - Howard Marks on importance of AI, unpredictability

3. Morgan Stanley - Jensen Huang on compute, tokens, new economy

4. Harvard Law School - Canyon Partners’ Josh Friedman on investing

5. Behind the Balance Sheet - Rory Sutherland on marketing, persuasion

5 Podcasts We Are Listening to This Week

1. All-In - Travis Kalanick and Michael Dell on AI and tech entrepreneurship

2. Acquirers - Tim Travis on private credit, the evolution of lending markets

3. How I Write - Macmillan’s Jon Yaged on how to get your book published

4. How Leaders Lead - Coach Roy Williams on a system for winning teams

5. Knowledge Project - Brookfield CEO Connor Teskey on AI infrastructure

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

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11 Articles We Are Reading This Week

1. Iran - Jordan Schneider

2. Inflation - Nohshad Shah

3. Take the win - Andrew Walker

4. Greed is not good - Joachim Klement

5. Hallyu everywhere - Michael Fritzell

6. PE risks in insurance - Phil Bak

7. Prediction market risks - Harvey Sawikin

8. Sharp tools; sharp minds - Eric Markowitz

9. FactSet take-private rumors - Dede Eyesan

10. Science of personality change - David Epstein

11. Luddites and a public relations crisis - Rex Woodbury

Letters, Presentations, Writeups…

Industry Insights: artificial intelligence | autonomous vehicles | commodities | debt markets | semiconductors | serial acquirers | shipping | software

Geographic Insights: Canada | Europe | France | India | Iran | Middle East

Letters: GDS Investments | Giverny | Maestria | Merrill | Pender

Company Insights: CBIZ | Civeo | Floor & Decor | IG Design Group | London Stock Exchange Group | Marex Group | Nvidia | Revolut

Company Slides: America’s Car-Mart | Bumble | Costco | Greenlight RE | Henkel | HP Enterprise | IDT | Kohl’s | Petrobras | Stitch Fix | Volkwagen

5 Videos We Are Watching This Week

1. Prof G - Zeihan on Iran, the shifting global order, and energy markets

2. Dwarkesh - Dylan Patel on AI chip supply, compute costs, and scaling

3. Bloomberg - Apollo's Torsten Slok warns of a private markets shakeout

4. Michael Lewis - Bill Gurley on venture capital and long-term thinking

5. Forbright Bank - Steve Case on American enterprise and looking ahead

5 Podcasts We Are Listening to This Week

1. Norges - Swiss Re CEO Andreas Berger on how reinsurance adds value

2. Odd Lots - Blankfein on his career, risk-taking, and life after Goldman

3. Compound - Is the surge in private credit becoming the new subprime?

4. Master Investor - Ruchir Sharma on peak markets and what lies ahead

5. Masters in Business - Bill Gurley on venture capital and tech disruption

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

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MOI Global members, scroll down for member news and updates.

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11 Articles We Are Reading This Week

1. Energy - Michael Cembalest

2. Disruption - Aswath Damodaran

3. Abel’s letter - Ravi Nagarajan

4. Bits in, bits out - Erik Hoel

5. AI hyperscalers - Steve Cooper

6. Board readiness - David Wells

7. Wiseass problem - Harvey Sawikin

8. Gulf oil chokepoint - Ed Conway

9. Anthropic’s alignment - Rohit Krishnan

10. American exceptionalism - Ryan Ballentine

11. Berkshire and geothermal - James Emanuel

Letters, Presentations, Writeups…

Industry Insights: biotech | energy | platforms | private equity | software

Geographic Insights: China | Iran | Ireland | Petrostates | UK

Letters: 1949 Value | Berkshire Hathaway | Merrill | Quercus | RGA | Voss

Company Insights: AST SpaceMobile | Credo | Fairfax India | Klarna | Kyoritsu Air Tech | Nvidia | Shift4 | Tile Shop | Trade Desk | Trinity Capital

Company Slides: Abercrombie | Adidas | American Eagle | AutoZone | Kroger | Limbach | OTC Markets | Sea | Stratasys | Victoria’s Secret | Wiley

5 Videos We Are Watching This Week

1. Norges - Zalando’s Gentz on Europe’s leading online fashion platform

2. Morgan Stanley - Stan Druckenmiller on macro and portfolio strategy

3. DoubleLine Capital - Jeffrey Gundlach on bonds, rates, and the outlook

4. Bloomberg Podcasts - Apollo's Marc Rowan on markets and investing

5. Bloomberg Television - Lloyd Blankfein on risk, leadership, and legacy

5 Podcasts We Are Listening to This Week

1. Acquired - Formula 1, celebrity team owners, and vertical B2B software

2. BakStack - Khe Hy on AI opportunity for asset managers and allocators

3. ChinaTalk - Iran military strikes and the Anthropic vs defense debate

4. Squawk Pod - Berkshire's new CEO Greg Abel on capital and culture

5. Invest Like the Best - John Arnold on energy, China, flawed US systems

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

Read more

MOI Global members, scroll down for member news and updates.

Subscribe now

11 Articles We Are Reading This Week

1. AI ahead - Howard Marks

2. Ten charts - Rex Woodbury

3. Blind regulator - Carl Hendrick

4. Some like it hot - Scott Sumner

5. Pessimists’ edge - Joachim Klement

6. Intelligence crisis - Frank Flight

7. Good things are good - Scott Sumner

8. Chasing work you love - David Epstein

9. Dividends and buybacks - Aswath Damodaran

10. Investing in the big cycle - Ray Dalio

11. Engineering skill in investing - Mauricio Heck

Letters, Presentations, Writeups…

Industry Insights: artificial intelligence | gaming | platforms | software

Letters: Hayden | Lux | Markel | Merrill | Pender | Semper Augustus | Tactile

Company Insights: FactSet | Mercado Libre | Nvidia | Opendoor | Workday

Company Slides: Agilent | Dole | Dominion Energy | First Solar | Golar LNG | Hagerty | HP | Keysight | Nvidia | Salesforce | Workday | Zoom

5 Videos We Are Watching This Week

1. Brookfield - Bruce Flatt on AI, infrastructure, and investing globally

2. Goldman Sachs - Outlook for Japanese equities and the ongoing rally

3. Aswath Damodaran - On dividends and buybacks across global markets

4. Brookfield Perspectives - Howard Marks on AI, investing, and markets

5. Columbia Business School - Applied value investing stock pitch finals

5 Podcasts We Are Listening to This Week

1. ChinaTalk - Lawrence Freedman on strategy, geopolitics, and AI risk

2. Riskgaming - Bill Gurley and Josh Wolfe on career regret and venture

3. Talking Billions - Guy Spier on meaning, wealth, and what really counts

4. Yet Another Value - Dan Rasmussen on quantitative biotech investing

5. The Acquirers Podcast - Jonathan Tepper on monopolies and investing

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

Read more

MOI Global members, scroll down for member news and updates.

Subscribe now

11 Articles We Are Reading This Week

1. Disorder - Ray Dalio

2. Death markets - Byrne Hobart

3. Debt and taxes - Aswath Damodaran

4. Avoiding choking - David Epstein

5. Auditing ambition - David Wells

6. What happens next - Tom Morgan

7. Replacement anxiety - Scott Sumner

8. Generating good ideas - Eric Markowitz

9. Vertical software selloff - Nicolas Bustamante

10. Weaponized risk models - Daniel Rasmussen

11. Glass bottleneck beneath ai - Mauricio Heck

Letters, Presentations, Writeups…

Industry Insights: ai | gaming | housing | saas | semis | software | uranium

Geographic Insights: China | Japan | Korea | South Africa | United Kingdom

Letters: Greenlight | McIntyre | Merrill | Robotti | Smoak | Southeastern

Company Insights: Circle Group | Constellation Software | Global Dominion | Jardine Matheson | Riken Keiki | Saizeriya | Volaris | Vor Biopharma | Wix

Company Slides: Airbus | Bausch+Lomb | Booking | Borr | Deere | Garrett Motion | Louisiana-Pacific | Moody’s | Walmart | Wendy’s | Wyndham | Wynn

5 Videos We Are Watching This Week

1. Dwarkesh - Anthropic’s Dario Amodei on AI scaling and frontier labs

2. David Senra - 37signals CEO Jason Fried on building a sustainable firm

3. How I Write - Bill Browder on writing, books vs. articles, finding the truth

4. Knowledge Project - Nicolai Tangen on high-speed decision-making, AI

5. Behind the Balance Sheet - Jonathan Tepper on his investing approach

5 Podcasts We Are Listening to This Week

1. Norges - Givaudan’s Gilles Andrier on the science of scents and flavors

2. Odd Lots - Jared Sleeper on software firms and the saas-pocalypse

3. Acquirers - Juan Torres on emerging markets, China, Indonesia, Taiwan

4. Talking Billions - Guy Spier on what really counts in life beyond wealth

5. Modern Wisdom - Oliver Burkeman on stopping a productivity addiction

Save the date: Latticework 2026 will be held at the University Club of Chicago. We will meet for two days on November 10-11, 2026. (Priority access granted to MOI Global members and paid Latticework subscribers. Stay tuned for your personal invitation.)

Member Updates & Events

The following is a private section for MOI Global members. Membership is by invitation only. If you would like to become a member, be sure you are on the annual plan. It is the first step toward full membership.

Read more