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Dead Hand Capital

Outperforming the living, one portfolio at a time.

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Substack
PricingOnly free issuesPublishesWeekly
Issues49Foundeda year agoLast Issue5 days ago
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Latest Issues

The Rain

“If a driver has the courage to create his own conditions, then the rain is simply rain.” - Garth Stein, The Art of Racing in the Rain

Every field has its weather - the conditions no participant chooses and each participant must accept. A...

5 days ago
9
2

A Thousand Mornings

There is a proposition on which every plan, every model, every science, and every promise about tomorrow silently depends - and in the near-three centuries since the problem was first stated plainly, no one has managed to prove it.

The pro...

12 days ago
16
2

On What Principle?

“On what principle is it that, when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?” - Thomas Babington Macaulay

In the January edition of the Edinburgh Review for 1830, a barrister not yet t...

19 days ago
27
3

Goodhart's Law

There is a moment, in the life of every measurement, when it stops describing the world and begins to replace it.

The measure is introduced honestly. It exists because some quality that matters - health, output, diligence, prosperity - is...

a month ago
22
2

The Next Shot

“The most important shot in golf is the next one.” - Ben Hogan

There is a weight that men carry from one decision to the next, and it is the weight of the decision they have just made.

The golfer who has struck a catastrophic shot - into...

a month ago
18
2

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  • Dead Hand Capital

    An investment newsletter devoted to the forgotten virtues of patience, silence, and rationality in a world addicted to motion. 20 years on Wall Street.

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