An answer to a puzzle: why is that some businesses go down the Deming path, become data driven, achieve operational excellence, and die, and others acquire Process Power and win?

Charlie Munger’s biggest business mistake, and what it tells us about wisdom.

If the most unlikely, most un-businesslike person could become a masterful capital allocator late in her life, then perhaps you could, too.

How Koch Industries became an empire. We draw on ideas from both the Becoming Data Driven series and the Capital Expertise series.

The creation of Marvel Studios was contingent on some very creative financial dealmaking. A story of superb capital expertise in action.

Two examples of operators who were strong on the capital side of the business expertise triad, but weak in just about everything else.

Andy Beal's story is an astounding story of capital allocation, incidentally making him America's richest banker. A guest post by Frederik Gieschen.

The unspoken secret about new company formation is that you need to get lucky. Roll the dice, get a business outcome. Capital allocation matters because it gives you a path to winning even when you lose the initial roll.

The skill of capital allocation — a mysterious, under-discussed element of remarkable business performance.

What a famous investing framework — part of the modern canon of value investing — tells us about the expertise of capital in business.