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Incentive Design

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How Charlie Munger designed the Incentives of Munger, Tolles, Olson

The unique way that storied law firm Munger, Tolles, Olson (MTO) allocates firm proceeds to its partners.

The TransDigm Phenomenon

A remarkable — if controversial — company in a weird industry. How TransDigm exploits the aerospace aftermarket to generate excessive returns for its shareholders.

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Henry Singleton: The Man Who Pioneered Share Buybacks

The contrarian conglomerate king who pioneered the use of share buybacks.

 Members only

The First Hedge Fund

How A. W. Jones improvised his way to an investment style and structure that has persisted till today.