Everything we have published

Past letters on dividend investing, business fundamentals, and the numbers behind a payout.

Nov 11, 2026

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11 min read

A $750 auction, a radio squeezed into a Studebaker, and a dividend that stopped and came back.

Nov 4, 2026

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4 min read

The fattest yield on the list is the one most likely to shrink, and the habit of reaching for it shrinks the paycheck it promised.

Oct 28, 2026

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10 min read

A garage repair shop, a pacemaker on an extension cord, and 49 years of dividend raises in a row.

Oct 21, 2026

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10 min read

A 1933 law, a stockbroker Sears once owned, and a dividend that went from 27 cents to a nickel to $1.15.

Oct 14, 2026

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10 min read

A steam engine on wooden tracks, a loss of nearly $1 billion in three years, and why a 0.8% yield is the wrong number to look at.