How I think about investing.
The lessons I think matter most for any investor. Whether or not you ever copy me, these are worth knowing.
Start here. The fundamentals a motivated beginner needs, in plain English — what to do, in what order, and why.
What is Copy Trading?
How copying a portfolio on eToro actually works — the mechanics, the costs, and exactly what you'd be following, before you decide anything.
ReadHow to start investing
A walkthrough for someone with savings, no investments, and a quiet suspicion they should be doing something with the money.
ReadWhat is a stock, really?
A share is part-ownership of a real business, not a number on a screen — what you own, how it pays you, and why that reframe changes how you invest.
ReadIndex funds or individual stocks?
Not stocks versus safety, but how you own equities — and why 92% of active funds still trailed the S&P 500 over 15 years.
ReadInflation and your money
The slow tax on cash: at 3% a year it halves your purchasing power in about 23 years — and why 'playing it safe' is its own risk.
ReadWhat is compounding, and why does it matter?
The idea underneath every other one in investing: returns earning returns. The Rule of 72, why time beats size, and how fees compound in reverse.
ReadThe compounding chart
What 7%, 10% and 15% annual returns actually do to a sum of money over 10, 20 and 30 years.
ReadWhat to do when the market falls
Crashes are normal — the S&P fell ~34% in early 2020 and still finished the year up. Why doing nothing beats panic, and how to prepare first.
ReadUnderstanding risk: volatility vs permanent loss
The single distinction that separates investors who last from investors who don't.
ReadWhy avoiding losses matters more than catching every gain
A 50% fall needs a 100% gain just to break even. Why protecting the downside beats chasing the last few percent of a hot market.
ReadAsset allocation basics: stocks, bonds, cash, alternatives
What each asset class is for, and how the mix — not the stock picks — drives most of the outcome.
ReadFor readers who want the deeper mechanics — reading returns honestly, valuation, cash-flow analysis, and the harder half of investing decisions.
What is CAGR, and why I look at it so much
The honest per-year return — it counts compounding and punishes volatility. Why a +30%/−14% pair averages 8% but compounds at just 5.7%.
ReadWhy annualized returns matter
'Up 100%' means nothing without a time frame: stellar over 2 years, ordinary over 10. Why you must annualize before you judge a return.
ReadTotal return vs price return: where returns really come from
The S&P number on the news ignores dividends — yet since 1960 about 85% of the index's total return came from reinvesting them.
ReadWhy I benchmark against the S&P 500
A return means nothing without a yardstick. Why the S&P 500 is the fair one — the cheap default 92% of active funds failed to beat over 15 years.
ReadPrice vs value: what the market gets wrong
Price is what you pay; value is what you get. Why they drift apart, who Mr. Market is, and when a cheap stock is a trap.
ReadFree cash flow: the number that can't lie as easily
Earnings can be managed. Cash is harder. The single most important number in a business analysis.
ReadHow I read a cash flow statement
Line by line, plus the four questions I ask before I trust a single number.
ReadWhen to sell — the most underwritten topic in investing
Everyone teaches buying. Almost no one teaches the harder half of the decision.
ReadThe common mistakes — and how to spot them in yourself
The recurring errors that cost real money, and the tells that give each one away.
ReadISK vs KF vs AF: Swedish investment accounts, explained
The three account types, what each taxes, and how to choose — with verified 2026 figures.
ReadInteractive tools to put the ideas to work — plug in your own numbers and watch the math play out.
More guides publish alongside the quarterly letter — subscribe to get them.