Valuation. Business analysis. Investing. Finance meets curiosity, creativity, and skepticism.
| Platform |  | Pricing | Freemium | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 216 | Founded | 4 years ago | Last Issue | 7 days ago |
| Active | |||||
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invariant.substack.comLatest Issues
Flash in the Pan
“Rude contact with facts chased my visions and dreams quickly away, and in their stead I beheld the horrors, the corruption, the evils and hypocrisy of society, and as I stood among them, a young wife, a great wail of agony went out from my...
Pouches Poised for Prime Position
“I always avoid prophesying beforehand, because it is a much better policy to prophesy after the event has already taken place.” - Winston Churchill
On June 30th, the FDA announced that it had issued modified risk granted orders to PMI’s S...
The Nicotine Window
“The chances for a problem to rise on the decision agenda are dramatically increased if a solution is attached.” - John W. Kingdon
It has been more than a decade and a half since I began following the tobacco industry with great interest....
The Only Thing That Matters
“Time flies over us, but leaves its shadow behind.” - Nathaniel Hawthorne
This piece marks the 4-year anniversary of Invariant. I sincerely thank you and all other readers for helping make this publication something unique. I am more ener...
Maker of Men
“The need of the world, he declared, to which all other needs are subservient, is men—real men, upright, downright, all-right men. It was not as merchant, manufacturer, or industrial developer that Mr. Duke preferred to be remembered, but a...
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