Ferrari: The Business That Grows by Selling Less Than It Could

Ferrari is not your typycal car manufacturer.

May 14 • Ezra Crangle

27

1

4

March 2026

Low-Entropy Businesses: Why Some Companies Quietly Endure (Part II)

An exploration of low-entropy businesses built on rules, ritual, and geography—and why slow-moving foundations matter.

Mar 3 • Ezra Crangle

10

1

3

January 2026

Low-Entropy Businesses: Why Some Companies Quietly Endure

An essay on low-entropy businesses and why some companies endure by aligning with time, structure, and simplicity rather than constant change.

Jan 2 • Ezra Crangle

35

5

December 2025

What Todd Combs Teaches Us About Great Investing

How Todd Combs thinks about great businesses, management, valuation, and clarity in uncertain markets.

Dec 10, 2025 • Ezra Crangle

66

6

13

The AI Mania in 19 Visuals

19 visuals that explain the AI boom better than a thousand takes.

Dec 9, 2025 • Ezra Crangle

4

4

What Four Investors Taught Me About the AI Mania

A reflective breakdown of how four investors interpret the current AI mania—and what it says about human behavior.

Dec 1, 2025 • Ezra Crangle

37

7

5

October 2025

August 2025

Chris Davis & David Rubenstein Notes

Ezra's Notes #3

Aug 29, 2025 • Ezra Crangle

2

Howard Marks and The Calculus of Value Memo Notes

Ezra's Notes #2

Aug 22, 2025 • Ezra Crangle

4

Ezra's Notes: Todd Combs Investment Philosophy

Ezra's Notes #1 - How Todd Combs thinks about investing

Aug 15, 2025 • Ezra Crangle

2

1

May 2025

Key Takeaways from Berkshire Hathaway Annual Meeting 2025

I read the transcript of the annual meeting. Here are my notes with quotes from Buffett & Abel.

May 8, 2025 • Ezra Crangle

11

3

2

February 2025

Key Takeaways from NVRs Deep Dive

My notes on the recent deep dive of NRV made by the famous distressed debt newsletter Pari Pasu

Feb 11, 2025 • Ezra Crangle

1