Notes from Bhutan

I’ve been spending a few days in Bhutan with my Mom (photo below), and it’s been a truly special trip.  I’ve had a little time to think, reflect, and in addition to committing to writing some more, there will be a few monster announcements coming in a few months, so stay tuned!  A few quick hits below: 

One of the many books I’ve plowed through on the long travel times was Thiel’s Zero to One.  One of my favorite passages revealed that if he could ask a startup just one question before investing, what one question he would ask?


Most asset classes got creamed in September.  Guess one of the only ones that didn’t? Trendfollowers.

Speaking of trendfollowing – that is a system that would have saved your hide in the 70%+ bitcoin drawdown going on currently…


I don’t think many investors realize this, but there are some ETFs that pay you to own them.  Think about that.


70 biotech IPOs this year. Previous peak was 64 in 2000.

Source: CSFB


Investing in the true global market portfolio means at various times you’d have ~35% vs 65% in stocks.  And you don’t rebalance.  Ever.I forget what reminded me of this, but I have this quote hanging in my bathroom in CA:


A good article from an ETF vet.


If you’re looking for a good listen to drink a glass of wine too, try Mandolin Orange – a NC bluegrass band.  I’m having a Druk 1000 as we speak…

This sign is hanging in my bathroom at home, not sure what reminded me of it…

“We have a strategic plan. It’s called doing things.” – Herb Kelleher