Essays & Videos
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Letter to My Daughters: On Maxims
"A maxim is a short, memorable statement that expresses a general truth, principle, or rule of conduct." Some maxims are widely known: "Life isn't fair," "You don't always get what [...]
More Than a Will
Most people think of estate planning as a paperwork exercise. Meet with an attorney, sign a will, name a beneficiary or two, and the task is complete. That view is [...]
Letter to My Daughters: On Bedside Books
Lots of people publish reading lists for various topics and purposes. I recently found a reading list for the “Collapse of Civilizations.” Your Grandpa has a couple of reading lists: [...]
Muhlenkamp Memorandum #159
The Iran war dominated markets for much of the second quarter, with the closure of the Strait of Hormuz cutting global oil flows and pushing prices as high as $113 [...]
Three Questions Worth Asking Before You Buy
Whether you are thinking about buying a house, a used car, or stock in a company, the same principle applies: you can turn a good product into a bad investment [...]
Three Things Your 401(k) Needs From You
A 401(k) is one of the best tools available for building retirement wealth. Pre-tax contributions. Tax-deferred growth. An employer match in many cases. Those are advantages you simply cannot replicate [...]