History of Investment Thought

Fifty-five papers, one argument.

From 1900 to today, investment thinking has been one long argument about a single question: where do returns come from, and what should a sensible person do about it? These fifteen chapters follow that argument in order, one paper at a time.

Each chapter has notes in plain language and at least one concrete example you can try on your own money. Chapters are written and published one at a time.