I am pleased to tell you that I have partnered with a longtime colleague, James F. Basili, to form a new firm, Lightsail Capital. Lightsail employs the same concentrated investment strategy as Monte Sol, but does so through a single pooled investment fund rather than many separately managed accounts. As part of this transition, Monte … Read more →

Is what I believe to be true, actually true? This question underpins all science and analysis. But it is a very hard question to answer. Answering it honestly to ourselves proves especially difficult. The difficulty arises from a number of causes. The chief among them is that we never fully comprehend the truth; we only … Read more →