The Cloud.

Oil on canvas 30x40in

Passport to Something New | Responsibility Official Video

Passport To Something New

Just released Passport To Something New, my debut musical EP found on Spotify & Apple Music.

Song list...

Enjoy! appreciate the listens and shares :)

2023 Reading

2023

1.  How to not go broke ranching, Walt Davis

2.  Acid for the children, Flea

3.  The Tools, Phil Stutz & Barry Michels

4.  Bury my heart at wounded knee

5.  Blood & Thunder

6.  Am I Being too Subtle, Sam Zell

7.  Cattle Kingdom, Christopher Knowlton

8.  Buy back your time, Dan Martell //

9.  Red cloud //

10. Banking - A short introduction, John Goddard

11. Atomic Habits, James Clear

12. The Hundred Year Marathon, Michael Pillsbury

13. The Lords of Easy Money, Christopher Leonard

14. Outwitting The Devil, Napoleon Hill

15. The Storyteller, Dave Grohl

16. Aloha Rodeo, David Wolman

Marcus Aurelius, as palm.

Watercolor.

Rune. Pen and paper.

Miles Davis, pen and paper.

Greenhouse

(originally posted on substack)

It’s tough to know exactly who I’m writing this to… that said, I’m going to assume you probably know a bit of my story or at least follow me on instagram, that’s an easier follow than subscribing to my emails after all (which I’m very appreciative of both btw), and if you do follow on instagram you may know that my family is spending a lot of time in Colorado these days. Kauai is still home, we’re here at least 8+ months a year, but we’ve been spending time each summer and near a month a year in the Roaring Fork Valley of Colorado. I think I can attribute most of the country twang that has entered my music to the ranches of Colorado, and living on a ranch. I probably have to give some credit also to Zach Bryan as he has popularized country music with the “mainstream”. It takes quite a writer to impact an entire genre of music, but I digress.

In the early summer of 23’ I was on the ranch and realized that we (my wife and I) have so many projects, not the least of which is our rad four boys, as well as a mini horse named Dusty, and 5 highlands cows affectionally named Bill & Ted, Wayne & Garth, and Kimball, after Kimball Nebraska, their home state. We have small flower beds, we have young and old aspens, we have the local elk herd, and I realized EVERYTHING around us was growing… even ourselves.

From this humble but epically placed studio, I realized that I needed to honor the growth around me, and it became Greenhouse. As I began to write lyrics, which is how all my songwriting goes these days… being a much better lyricist than a musician at this stage the ideas flow then the sounds back them… anyhow, as the lyrics came I realized that I wanted to build the chorus as it goes along in the song with a slight anthem vibe, things grow, as does this chorus. It also evolves through the song and becomes “WE have our Greenhouse growing” from the original “I have MY…” I have no idea where I would be without my wife Molly and it turns out we’re pretty good at growing things. Greenhouse is a celebration of that.

I really hope you enjoy. Give her a stream! On Spotify!

On The Mend

Listen to On The Mend now! It's out!

In December of 2019 I had a surfing injury that took me out of the water for months if not a full year. I tore the labrum in my hip and immediately I knew I was going to go nuts without an outlet of some kind. Six years earlier I had broken my ankle also surfing and at that time I decided to pick up a film camera for the learning, the experimentation, and the deep dive into something that would keep my brain off of not being able to surf. That camera (and the many that followed it) helped me through the injury and unlocked a creative outlet, a new muscle for me that made the injury a blessing in disguise. 

Fast forward back to 2019, I unlocked a new creative outlet with my hip injury by this time picking up a guitar. I started plucking away for a few months as I tried to resolve my hip issue. Then in April of 20' as I planned to get the much needed surgery, I flew to LA. The surgery went well but I was locked in bed for 4 days before I could fly home to Kauai and decided to make it as productive as possible. Guitar Center led me to a small-body Gibson acoustic and although I'd never done it I decided that with the help of the Bandlab app on my phone I'd write my first song. What came of those few days was On The Mend.

At the time (and always I guess) I was working through a few things emotionally... worrying about what people thought of me (still workin’), worrying about how much my injury would keep me from (luckily fully recovered), realizing that I could let go, that all those feelings, as with all feelings, are temporary, and that maybe I could use this injury for good in my life. Another blessing in disguise.

On The Mend lyrics...

I knew a man who sailed around the world

Adopted every culture and found his sail furled

A little bit of everyone and nothing of himself

Until he found a mirror and unlocked all his wealth

You’re on the mend, my friend

It’s just a trend, my friend

This’ll end my friend

You’re on the mend, you’re on the mend

He looked into the mirror & back into his youth

Remembered all his dreams & faced his inner truth

Deep in the reflection and deep within his chest

He knew that he’d recover and put his heart at rest

You’re on the mend, my friend

Just a trend, my friend

This’ll end my friend

You’re on the mend

You’re on the mend, my friend

Its Ok to bend, my friend

It will end,

You’re on the mend

You’re on the mend

You’re on the mend,

You’re on the mend, my friend

You’re on the mend

You’re on the mend,

You’re on the mend, my friend

He looked into the mirror and through his tired eyes

Saw a man with a red nose, riding on a bike

He had big shoes and funny rainbow hair

But he envied that man, cause that clown didn’t care

You’re on the mend, my friend

Just a trend, my friend

This’ll end my friend

You’re on the mend

You’re on the mend, my friend

Its Ok to bend, my friend

It will end my friend

You’re on the mend

You’re on the mend

You’re on the mend, my friend

You’re on the mend

You’re on the mend.

The grounding, fundamental, relieving nature of finding yourself is obvious. I knew that the healing would come by looking inside. As a big traveler in my past business life I got to see a lot but it left me wanting. Curious, unanchored, and wanting is a dangerous place to live for anyone. Coming back to the mirror, the me I know and work to love was the healing, the mend.

Folks talk about life being about the journey not the destination. Its always landed much better for me to think about it as a process vs a path. I’m not wandering, I’m working, things are being done, progress is being made, and staying flexible within that process is healing, then mending is a process. Let it work.

Then there’s the clown, why a clown when we were talking about world travel and emotional healing. Because simply thats how you always feel when you worry too much about what everyone else thinks. Even when you’re the center of the party you’re dressed up putting on a show, until you realize maybe the clown has it most figured out! He doesn’t give a fuck. He’s laughing at his own joke. This isn’t the depressed Joker clown, this is the living the laugh, in the flow clown that is bringing joy to others through their own comfort.

On the mend is a process, and after writing this song, which by the way is very similar to the final recorded version, I realize the song-writing process is one of healing. At the time I had no idea there would be dozens of songs to follow it. But I know now that the writing is whats helping mend my soul and my hip. Still writing, back to surfing, always healing and growing.

Enjoy the tune :) Out December 13, 2023.

One of the benefits of Covid was the opportunity to meet Charlie Munger... First over a zoom call with a handful of other amazing entrepreneurs and then through some one on one zooms and finally an in person meeting at his home in LA.

Charlie has bestowed upon me so many great philosophies of living a great life. Chief among them was an understanding of how expectations play such a enormous role in one's happiness. Holding a high bar for my self while also lowering (managing) daily expectations is a great balance for reaching great achievements, while also allowing myself grace to under perform along the learning process. Also, a great love for Ben Franklin, and studying the "greats" who have had such an amazing impact on how life is lived today in the United States. I always loved that most people go to Charlie with questions about business or investing and his first piece of life advice, in almost every conversation I was apart of, was the importance of choosing the right spouse. "You want financial advice", he'd say, "don't get divorced." Always the simplifier.

Rest in peace Charlie, thank you for sharing your wisdom with all of us.

Who's the next Buffett?

For those of us who look up to Warren, it's an interesting question... so why not ask Buffett himself? Turns out, no surprise, it's already been asked... in 2010 Warren had dinner with Jay Z, and coming out of the dinner he said,

So, the next question is what financial advice would Jay Z give a young person today.... in his words, with his experience, and his flavor. A few years ago I read J's book Decoded (highly recommended) and what I took away is the unique set of experiences that made Jay Z who he has become, not only as an artist but as an entrepreneur. Sadly, Jay Z has yet to write a finance book so I turned to my friend ChatGPT to pull together these insights and they don't disappoint.

Jay Z has turned maybe the best music career of all time into one of the best business careers of all time by hyper-diversifying his portfolio. All while, as he said above, ensuring that his businesses are an extension of him and authentic to his brand and values. His businesses... also from ChatGPT...

In my experience, ChatGPT has these values grossly understated. For example, Tidal was sold to Square for ~$300M and it was rumored that Jay Z owned 60%. Far more than the $100M stated above.

The mutual respect between Jay Z and Warren Buffett is also well known.

In an interview in 2010, Jay Z was asked about the business figures he looks up to, and he named Buffett as one of his top inspirations. He praised Buffett's long-term perspective and his ability to make smart investments based on sound principles.

Jay Z has also referenced Buffett in his lyrics. In his song "Family Feud" from his 2017 album "4:44", he raps, "I'll be damned if I drink some Belvedere while Puff got Ciroc / Y'all need to stop / It's like putting Warren Buffet in buildings with Trump."

The reference to Buffett in this verse is a comparison between two wealthy individuals with vastly different values and business practices. Buffett is known for his conservative investing strategy and philanthropic work, while Donald Trump, who was a real estate developer before entering politics, is known for his flashy lifestyle and controversial business practices.

Jay throws shade and respect in the same line. And while there is mutual respect between Jay Z and Warren Buffett, my guess is Warren hasn't listened to 4:44.

Berkshire Hathaway Shareholder Letter 2022, Reactions

Every year I enjoy reading Warren Buffets' predictably charming annual Berkshire Hathaway Shareholder letter. I dare you to find another annual investor letter you can remotely describe as charming. Anyhow, this year's letter published February 23 was another winner. As a builder turned investor I can't look to a better influence on my decision making than Warren and his partner Charlie Munger. Their humility, their focus on long-term relationships, and their emphasis on pragmatism alongside an expectation of excellence are all values I hold dear and hope to instill into Saltwater and our businesses for years to come.

Here's what stood out to me.

Hammering home the basics

We’re reminded that these gents look at companies, not stocks… “Charlie and I are not stock-pickers; we are business-pickers.” Buying a stock is just a tiny fraction of the company you’re getting, evaluate it as such. So why buy stocks vs majority ownership? A question we ask ourselves at Saltwater often? There is but one critical difference for the critical eyed investor. The difference between public "stocks" and privately owned businesses based on Warren’s insights… “stocks often trade at truly foolish prices...while a controlled business gives no thought to selling at a panic-type valuation.” Good enough for me. We’ll be keeping our eyes open for foolish prices.

Shareholder financial education

Warren shares an anecdote about share repurchases and the misled villainization of them.

“The math isn’t complicated: When the share count goes down, your interest in our many businesses goes up. Every small bit helps if repurchases are made at value-accretive prices. Just as surely, when a company overpays for repurchases, the continuing shareholders lose. At such times, gains flow only to the selling shareholders and to the friendly, but expensive, investment banker who recommended the foolish purchases. 

Gains from value-accretive repurchases, it should be emphasized, benefit all owners – in every respect. Imagine, if you will, three fully-informed shareholders of a local auto dealership, one of whom manages the business. Imagine, further, that one of the passive owners wishes to sell his interest back to the company at a price attractive to the two continuing shareholders. When completed, has this transaction harmed anyone? Is the manager somehow favored over the continuing passive owners? Has the public been hurt?”

We were able to execute a value-accretive share repurchase in a portfolio company this year and while it wasn’t a smooth process, it was a very good decision for all our shareholders. Thanks Warren.

Praise of his best companies

How many times have you heard Warren discuss Coke, Amex, and See’s Candies? Effectively every time he or Charlie open their mouths. Charlie’s personal fav is Costco based on my experience with him. This year Warren reminds us that in 1994, BRK completed a 7 year buying spree of over 400 million shares of Coke stock for a total of $1.3B. He reminds us the value of those dividends almost a billion, as well as stock price appreciation, that 400 million share position is worth >$25B today. 

He doesn’t paint this investment as an obvious or easy one however. “The weeds wither away in significance as the flowers bloom… it takes just a few winner to work wonders.”  

Endless love for his partner Charlie Munger

I love looking for how many times Warren uses the phrase, "Charlie and I...", this year it was 10. He's clearly smitten with his long-time friend and partner for good reason, but this was my favorite tidbit of Charlie appreciation...

"Find a very smart high-grade partner – preferably slightly older than you – and then listen very carefully to what he says."

He includes a response that Charlie will often use back to Warren when they are in decision-making mode.

“Warren, think more about it. You’re smart and I’m right.”

See what I mean… charming. Greater than the Coke investment, or the Costco investment, Warren's appreciation of Charlie's wisdom & friendship are what anchor his brilliance in my mind.

The elephant in the room… transition insights

With Charlie at 99 and Warren at 92, every communication is reasonably analyzed for hints around their transitions. I don’t believe there will be one until one or both pass. Sad, but likely true.

Charlie talks about Berkshire in the general sense a few times in this years letter where it feels like he’s writing rules to operate by for others versus telling the shareholder how “he” specifically will operate.

I certainly hope there is an internal rule on the last point and it would be helpful to know what that $ amount is. While these aren’t all that telling as to the timing of a transition of either partners health condition it’s clear that Warren’s thinking is still spot on.

I hope you enjoy and absorb these letters as much as I do.