The Aggregation of Marginal Gains | This Coach Improved Every Tiny Thing by 1 Percent and Here’s What Happened - written by James Clear #AtomicHabits #DaveBrailsford #BritishCycling

"Each attempt to tax the massive profits booked by Irish-shored multinationals has only expanded the system that allows them to be booked there in the first place."

...The net result has been, well, a steady rise in the profit the world’s multinationals report in Ireland, and a steady march up in Ireland’s corporate tax take. The Irish balance of payments data now shows that foreign multinationals (almost all…

Following is an excerpt from the substack. For the entire substack article visit - The Rebirth of Mining

Neither the macro regime nor industry fundamentals point to late-stage conditions. Seen through this lens, recent price moves in hard assets are not signs of excess. They are the opening act of a…

Jeff Currie, formerly the head of commodities research at Goldman Sachs and now at Carlyle, provides a macro-thematic framework explaining why we have entered a new "physical capex super-cycle" where the "Old Economy" (commodities, manufacturing, and infrastructure) is reasserting its dominance over the "New Economy" (asset-light tech and financial services).

**1. The Central Thesis: The Physical Capex…

Data Update 6 for 2026: In Search of Profitability! | The Business End Game Clarified! | Aswath Damodaran | Feb 17, 2026

The Final Dictum: Friedman famously quotes his own book, Capitalism and Freedom:

"There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."

1. Core Thesis: Only People Have Responsibilities…

"In its various Quantitative Easing programs, the Fed bought long-term debt and gave out overnight debt (interest paying reserves) in return. That undoes some of the interest rate protection the Treasury bought.

The wife went to the bank, and got the 30 year fixed. The husband went back to the bank and said no, no, swap that back to half floating. Interest rates went up, the wife thought “how wise I was.” The…

"After World War II ended, the Fed continued its wartime pegging of interest rates. The Treasury-Fed Accord, announced March 4, 1951, freed the Fed from that obligation."

"The Fed pegged long term interest rates at 2.5% during WWII, to hold down interest costs and keep up the prices at which the government sold debt. Inflation surged in 1947 and 1948 when price controls were lifted, but…

Odd Lots Books #Joe Weisenthal