Our Published Work
Process / Philosophy
October 15, 2026
Uncertainty can’t be eliminated, but it can be prepared for. Part four of our Free Solo series explains why margin of safety is the only reliable way to manage risk, and why investing without one is really speculation.
Read Article →Process / Philosophy
September 15, 2026
Fear and greed are the two emotions that move markets — and the two most likely to derail sound investing. Part three of our Free Solo series looks at the cognitive biases, from loss aversion to the endowment effect, that distort how investors perceive risk.
Read Article →Process / Philosophy
August 15, 2026
Before you can manage risk, you must understand what it actually is. Part two of our Free Solo series looks at why volatility is the wrong proxy for risk — and offers a clearer, more useful definition.
Read Article →Process / Philosophy
July 15, 2026
Alex Honnold’s free solo ascent of El Capitan reveals a masterclass in risk management — the first post in our six-part series on DGI’s framework for managing investment risk.
Read Article →Updates
February 12, 2026
Year-End 2025 Investment Update — examining what drove narrow momentum-led markets, why our process did not change, and why we remain constructively optimistic.
Read Article →Equity Markets
August 11, 2025
Inspired by Sherlock Holmes — do large drawdowns reliably signal poor future returns, or are investors theorizing before examining the evidence?
Read Article →Process / Philosophy
May 7, 2025
Just as Newton's apple always fell downward, there are irreducible investment truths that reliably pull stock prices toward intrinsic value — the four financial laws of gravity.
Read Article →Companies
June 30, 2024
AI is not one company or one moment — it is a technology transformation decades in the making. DGI separates durable investment opportunities from speculative noise.
Read Article →Milestone Piece
June 2023
What does it mean to commit fully to an idea with no rope? A look at conviction, preparation, and asymmetric risk in investing.
Read Article →Process / Philosophy
August 2021
A father’s decades-long fishing discipline — grounded in fundamentals, patience, and a proven process — turns out to be a remarkably powerful blueprint for long-term investment success.
Read Article →Process / Philosophy
December 2020
At the core of any sound investment process is a clear understanding of what investors can and cannot control. Three questions define the only levers we have for directly influencing our investing outcomes.
Read Article →Updates
April 2020
DGI’s real-time thinking on what the pandemic crisis meant for markets, for portfolio companies, and for long-term investors — written in the thick of it, April 2020.
Read Article →Updates
March 2020
When a prospective client named her dog after Cisco Systems stock, it sparked a lifelong lesson in the great company/lousy stock syndrome — and why price always matters.
Read Article →Updates
February 2020
Three clear investment messages from a year that spoke loudly — a portfolio with gas in the tank, the dangers of S&P 500 concentration, and the absurdity of negative bond yields.
Read Article →Process / Philosophy
September 2018
Risk and return are the twins of investing. A deep look at actual vs. perceived risk, margin of safety, and why most investors get the balance fundamentally wrong.
Read Article →Updates
February 2019
The Q4 2018 selloff drew parallels to Black Monday — DGI examines the role of financial intermediaries, the rise of hedge funds and index funds, and why the selloff was an opportunity.
Read Article →