10/30/2026
A friend asked if he should buy into the Anthropic IPO. “I just don’t want to miss this one,” he said. That might be the most expensive sentence in investing.
My article in the Globe and Mail on why I’d rather own an ugly duckling than a swan.
Tim McElvaine in The Globe and Mail on the most expensive sentence in investing, paying 30 times revenue for a sure thing, and why he buys ugly ducklings.