The Essays
The ideas that built great investors
The most famous essays and ideas in value investing, explained in plain English — with the key takeaways, the original source, and the books that go deeper.
Li Lu on value investing and the discipline of temperament
The only outside manager Charlie Munger trusted with his money on why character, not IQ, decides who succeeds.
September 24, 2026 · 5 min readNick SleepNick Sleep's “Scale Economics Shared,” explained
The one business model Nick Sleep bet everything on — and why it explains Costco and Amazon.
September 22, 2026 · 5 min readSeth KlarmanSeth Klarman on margin of safety and the discipline of patience
Why the 'Oracle of Boston' obsesses over avoiding loss first — and treats cash as a position, not a failure.
September 20, 2026 · 5 min readJoel GreenblattJoel Greenblatt's Magic Formula, explained
Buy good businesses at bargain prices — turned into a two-number screen a teenager could follow.
September 17, 2026 · 4 min readPhilip FisherPhilip Fisher's scuttlebutt method and Fifteen Points, explained
How to research a company like a detective — the qualitative playbook that shaped 15% of Warren Buffett.
September 14, 2026 · 5 min readPeter LynchPeter Lynch's “Invest in what you know,” explained
The idea that made a legend accessible — and the discipline most people skip when they misuse it.
September 11, 2026 · 4 min readHoward MarksHoward Marks on risk: what his memos really teach
For Howard Marks, risk isn't volatility — it's the probability of permanent loss. Here's why that distinction changes everything.
September 8, 2026 · 5 min readBenjamin GrahamBenjamin Graham's Mr. Market allegory, explained
The single most useful mental model for surviving volatile markets — imagine your business partner is a moody manic-depressive.
September 5, 2026 · 4 min readCharlie MungerMunger's “The Psychology of Human Misjudgment,” explained
Charlie Munger's field guide to the two dozen mental biases that wreck decisions — and how to build a checklist against your own brain.
September 3, 2026 · 6 min readWarren BuffettBuffett's “The Superinvestors of Graham-and-Doddsville,” explained
Buffett's 1984 answer to the efficient-market professors: a room full of investors who all beat the market for decades, and all traced back to one teacher.
September 1, 2026 · 5 min readMore essays coming. In the meantime, browse the full library of Value Investors Club.