Archive - Invariant

Born From Flame

The origin of fire insurance and a unique investment case study.

Jul 21 •

Defense is Offense

Dennis Rodman, portfolio optimization, duration, and the score.

Jul 14 •

Intercontinental Exchange: Looking Back

A short, spectacular history.

Jul 7 •

June 2024

United-Guardian: Welcoming Instability

FY'23 and Q1'24 note.

Jun 30 •

Hetty Green: Unspent Fortune

A unique obsession with wealth.

Jun 23 •

Determination, connection, and Invariant's 2-year mark.

Jun 16 •

The Fertile Grounds of Decay

Excess profitability in shrinking volume industries.

Jun 9 •

Imperial Brands: Black Hole

Jun 2 •

May 2024

Logista: Steady as She Goes

May 26 •

Scandinavian Tobacco Group: What Is Normal?

May 19 •

Altria: Rorschach

May 12 •

Haypp Group: Pricing Gaps

May 5 •

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