Archive - Rung Three

Study the Winners, Join the Losers

Survivorship bias, ten years of studying only winners, and why your backtest is lying to you by about a point a year

Aug 30 • Rung Three

The Electricity Wall

Gate Two: mapping the AI value chain

Aug 16 • Rung Three

July 2026

Are You Being Paid to Own Stocks?

Gate One

Jul 26 • Rung Three

The Thesis is Human: Going from Macro to Stock and Why the Direction Matters

“As SpaceX IPO rumors reached a fever pitch, thousands of small investors searched for SpaceX to get in on the action.

Jul 5 • Rung Three

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