It’s a blog.
It’s educational.
It’s hopefully entertaining.
It’s not investment advice.
How to think about investing.
Natural Deselection
What makes a better snack: a snake or a crocodile? Why would snakes and crocodiles choose to tussle anyway? How to evaluate mergers between companies with sharp teeth and primitive instincts.
Chips on the Table
Would companies rather play poker or blackjack? What do card games have in common with investing anyway? How to evaluate the cards a company plays against its tells.
A Heist
What’s the ROI on a bank robbery? If you’re not going to rob a bank, what’s the next best thing? Evaluating mergers for a bargain price.
Laws and Order: Part 2
If things work out, what does that look like? How do you know when you get there? How to evaluate an investment’s prospects when shares have been on a rip.
Laws and Order: Part 1
Are shares subject to any real laws — like physics — about how they behave? Can they break those laws? How to evaluate investors expectations when share price drastically changes.
The Hour Between Dog and Wolf
How do you tell a dog from a wolf in the dark? What about in the markets? How long does it take to turn a wolf into a dog anyway? How to find investments using uncertainty.
Marginalia
What notes are worth jotting down in the margins of a book? How important are margins to value anyway? How to find opportunity when a plot twist suddenly changes a company’s business mix.
The Comments Section
Is it ever a good idea to read the comments section? Is it all toxic? What if people actually try to be helpful? How to find value in digital communities with real people.
The Great Wave
Where do you find the best waves? Do waves work for investors or do they crash them into the sand? How to find opportunity in consumer product cycles.
Where the Staircase Ends
What’s a business’ final investment? How many steps between here and the one where shareholders get cash from it? How to evaluate shareholder-friendly policies in a booming business.
Something Fishy
Do sardines make good investments? What should you do if trading in a company’s shares smells fishy? How to distinguish whether a company is trading just on vibes or something real.
Gold Rush
How do you figure out if an investment’s pure gold? What about the things you need to get to the gold… like picks and shovels? How to evaluate “pick and shovel” opportunities in AI.
Bird’s Eye View
How would a bird look at a portfolio? Does a book of investments look different all grouped together? A look through at the business activity of the portfolio.
2025 Scoreboard
Lamplighter made some predictions for its portfolio in 2025. Some things it got right. Some things it got wrong.
Jackass of All Trades
What’s wrong with you? Why do you make so many bad decisions? How to evaluate mistakes from the year.
Fair Warning
What even is a foul in financial markets? Does it matter to companies if their shareholders prompt a warning from their exchange? How to evaluate an attempt to upgrade a company’s investor base.
Stone Soup
What are the ingredients for a good special situations investment? What if investors’ palettes find those ingredients off-putting? Evaluating opportunities when shareholders have a cornucopia of reasons to sell.
Guess Who?
What value do board games offer in the digital age? If its a digital game, how can you tell if your opponent is real? How to evaluate the value of “real” in the age of AI-powered fraud.
One Last Job
What would it take to bring you back for one last job? It works in the movies, does it work for companies? How to use exec pay pay packages to evaluate investments.
Stack the Deck
Pick a card. Any card. Does it matter which card you pick investing in AI? How to evaluate different pieces of the AI stack and one AI bundle.