Ka3 Investment Research

Ka3 Research

Father & Sons: Discussions on Finance

Real questions, worked through properly — the kind of back-and-forth that happens at the kitchen table when a son asks his father why something in markets works the way it does. Each piece below started as one of those conversations.

23 September 2026
Dad, Are We in an Equity Bubble?

How a stock actually gets valued, why earnings — not sentiment — explain most of today's S&P 500 level, and five honest checks for a real bubble.
22 September 2026
Can We Just Copy the Best Fund Managers?

What happens when you actually try to clone Buffett, Druckenmiller and a handful of others — trade for trade, quarter after quarter, using nothing but what they're legally required to disclose.
23 August 2026
Does the Money Supply Actually Explain Gold?

A walk through M1, M2, M3, a century of gold prices, and why "they're just printing money" turns out to be a weaker explanation than it sounds.