What we're investing in, and why.
Long-form essays on the businesses being built and reshaped around AI, alongside shorter monthly notes from the desk.
- Nov 12, 2025 · Essay · 11 min
China's 15th Five-Year Plan Preview
Beijing's 2026–2030 plan puts industrial upgrade and chip self-reliance first, and pulls back from EV subsidies and a property rebound. What it signals for U.S. investors.
- Oct 10, 2025 · Newsletter · 10 min
Milton Maxwell, September 2025 Update
Our picks ran +29% to +130% against a +6% QQQ. Why we go long the future and short the past, plus notes from Singapore.
- Sep 02, 2025 · Newsletter · 10 min
Milton Maxwell, August 2025 Update
Powell hints at a rate cut, Nvidia prints another blowout quarter, and Figma's IPO pops. Four companies we're watching, and a busy month of private deals.
- Jul 22, 2025 · Essay · 13 min
Investing in Great Companies: A Framework for Long-Term Value
How we think about long-term investing: what makes a business worth owning, how to value it, and how to build a portfolio that holds up.