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.

How Lee Walker overcame Dell's biggest growth plateau in 1986. A story about capital, imagination, and creative deal-making.

Two personal stories of capital expertise 'in the small' — or why financing creativity can be just as important to smaller businesses, as it is in larger, more sophisticated ones.

What, exactly, is the skill of capital? What does it consist of? How do you recognise it? We walk through three stories, and then talk about the shape of the skill in practice.

We trace Michael Dell's skill at the art of capital in business, and use it to examine how skill at capital allows you to make moves that aren't available to a novice business operator.

Refactoring a network of beliefs built on a largely under-examined worldview.

One way that first principles thinking fails is when you build your analysis up from a deficient set of base principles. Everything is correct and true, but you still end up mistaken. Here's how that looks like in practice.