Our strategy is simply to do what smart families have always done: - Acquire great assets in supply-constrained mkts - Leverage them conservatively - Steward them well - Refinance them opportunistically to return capital tax-efficiently - Hold them indefinitely

Turns out the kids at my military day school who kept locking me in lockers and putting me in trash cans were actually trying to teach me something important about human relations :)

Going to keep repeating this, bc it's my theme of the day, & bc I'm so guilty of violating it: The goal isn't to sound smart. The goal is to get what you want.

Get your company seen in AI search. Drive leads. Grow revenue.

Our largest investor is always like: "I'm just a dumb guy, & you know a lot more than me, so I hope you'll forgive this question, but..." & then asks something that gets right to the heart of the issue. - (Bc I'm very self-involved & earnest, took me yrs to figure out this

Our largest investor is always like: "I'm just a dumb guy, and you know a lot more than me, so I hope you'll forgive this question, but..." And then asks me something that gets right to the exact heart of the issue.

Part of what's going on here is that smaller companies often offer capital redeployment opportunities that can deliver *way* in excess of your standard 7-8% in public equities (much higher recently!) and ~4% in a money market account. But, if, like me, you allow your lifestyle

Honoured to speak at the Ohio Statehouse on how state leadership and diaspora voices can shape global partnerships. Grateful to @ismailforohio for championing this vital dialogue.

Have come to believe a business career doesn’t *really* begin until you get control of a cashflow materially in excess of your personal spending, allowing you to reinvest. (Follow me to watch a middle-aged man have epiphanies Buffett had at 13.)

Actually, I'll admit it: Very early in my career, I would meet these guys and be like "I don't get it... how is he so successful, when he seems so dumb?" Took me a few years of thinking about it and then I was like

Used to wonder why successful private equity types often have "sanded-off" personalities that camouflage how smart they are. Eventually realized it's to avoid scaring owners of target companies. No one wants to feel like he's selling his life's work to a shark.

[Deleted a "LOL" underneath a post about Mamdani admitting the aunt he told that story about was actually a cousin. Very embarrassingly for me, in light of my obnoxious comment, I also have a cousin whom I was raised to call "aunt". Mea culpa.]

Signed my life insurance policy today. @moseskagan post a few weeks ago really struck me—thank you. If you are young & have a family, don’t wait as long as I did.

Related: A key question to ask a prospective manager is how they handle tenant screening If the process takes a long time, they are for sure losing tenants to PMs who move faster and therefore costing you money.

V good post (as usual)

If you hire a property manager for an apartment building, you either need to: 1. Fully delegate rent setting & tenant approvals to them, or 2. Keep the authority yourself, but commit to making lightning fast decisions Doing anything else hurts the performance of your asset.

Above post in honor of my mother, who 100% could have been a big success in the private sector, due (in part) to her ungodly level of conscientiousness. Instead, bc she's risk averse, she settled for climbing the ranks in state government. Very nice pension, but she should

The most important doc in our business is our Due Diligence Checklist: A list of item to consider and mistakes we’ve made, & nearly made, thru >100 deals over 17 yrs. Before we commit irrevocably to buying a new deal, we initial next to every single risk to indicate we

https://t.co/1hYIQVmriV

If you’re conscientious, you’re going to stress about work, regardless. Might as well stress about work with the potential to make your family rich.

Two comments: 1. In many states, at least some portion of your home equity is vulnerable to creditors, and 2. In part for this reason, everyone should have an umbrella insurance policy If it's going over the top of a homeowner's policy, $3-5MM of umbrella coverage is

It's kind of like a marshmallow test: The value of the option to expropriate and redistribute grows as society becomes wealthier, but, if you exercise the option, you leave your descendants much worse off. Fortunately, looks more and more likely that, bc we avoided eating the

FWIW I've strongly in favor of redistribution to help poor people live decent lives. I just think we need to be very careful, in doing so, not to slow economic growth, since ~everything we (including poor people!) love about modern life is downstream of rising per capita GDP.