Insights
Fewer pieces, written properly.
We publish when we have something specific to say. No market commentary, no recycled quarterly outlooks.
Founders and executives
18/06/2026 · 6 min read
What to do about concentrated stock before the liquidity event
The most valuable planning window for a founder closes on the day the deal is announced. Here is what belongs on the checklist while it is still open.
ReadInvestment philosophy
02/05/2026 · 5 min read
The quiet cost of complexity in a private portfolio
Complexity is easy to add and difficult to remove. We look at where it earns its keep in a private portfolio, and where it simply accumulates.
ReadFoundations and institutions
14/03/2026 · 7 min read
Setting a spending policy a board can actually hold to
A spending policy is a governance document before it is a financial one. The drafting choices determine whether it survives its first difficult year.
ReadThe firm
22/01/2026 · 4 min read
What 'fiduciary' actually obliges us to do
The word appears on nearly every wealth management website. Here is the operational version — the specific things it changes about how we work.
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