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Graham’s Newsletter

by Graham Stephan

A 32 year old real estate agent and investor with over $120M in residential real estate sales since 2008, I've created this profile to share my successes, failures, insights, and experiences in the investing world.

Featured Post

Landlords and algorithms are getting sued

Welcome to Graham's Newsletter! If this is your first time here, you can check out all previous issues here. Why did a book about flies cost 24 million dollars? In 2011, a postdoc researcher logged into Amazon.com looking to buy a copy of “The Making of a Fly.” Though the book was out of print, the researcher thought the book was a tad overpriced. Amazon had listed 17 copies for sale: 15 used from $35.54, and 2 new ones: one for $1.73 million, the other for $2.19 million (plus $3.99 in...

8 days ago • 7 min read

Hello! Is this your first time here? You can read all the previous issues of Graham's Newsletter and subscribe here. The story starts with another bank that’s making headlines for the wrong reasons – New York Community Bank. Not even a year since Silicon Valley Bank, Signature Bank, and First Republic Bank failed, every major headline is talking about the newest “Banking Crisis”. And while the issue last year was with banks not being flexible enough to handle sudden interest rate hikes, the...

14 days ago • 7 min read

Hello! Is this your first time here? You can read all the previous issues of Graham's Newsletter and subscribe here. Codie Sanchez is one of my favorite people to listen to on the topic of money and business. She's been through an amazing career graph – from investment banking at Goldman Sachs, to striking out on her own as an entrepreneur who buys and sells small businesses. I recently caught up with her to pick her brain on building a great career. There’s no roadmap to being an...

19 days ago • 5 min read

Hello! Is this your first time here? You can read all the previous issues of Graham's Newsletter and subscribe here. Let me tell you two stories. First, Japan made news in 2019 by introducing immigration reform and encouraging a flood of over 345,000 immigrant workers. For an economy that has been somewhat isolated, this was a drastic shift in policy. But the country doesn’t have a choice – over 28% of its population is over 65 years old, and there’s nobody to support its aging population....

22 days ago • 9 min read

The average single worker in the US paid 30.5% of their income to taxes – that means that one third of your entire working year is spent just earning enough to pay the IRS. If that trend continues, you’re going to spend a third of your life on taxes, and even though you stop “earning” when you retire, you’ll still have to pay taxes. But it doesn’t need to be this way. Most people have access to a number of ways to reduce their tax bill by a lot – and I’m talking about perfectly legal ways...

about 1 month ago • 9 min read

What’s up Graham, it’s guys here :-) This week, I need your help with something. I’m working on a tool for you – a tracker to monitor your entire investment portfolio in one sheet. It will help you see your returns over different timeframes, spot winners and losers, and optimize your portfolio. If this sounds like something you’re interested in, I’d appreciate your feedback. Just fill out this Google Form so that I can contact you when it’s ready, and you’ll be among the first users to get...

about 1 month ago • 1 min read

Nobody knows how to make this pencil, but it still gets made. Source: Wikimedia​ That might sound ridiculous, but it's true. Milton Friedman holds up an ordinary yellow pencil in this video, and explains how no single person can make this pencil. The wood is grown in some part of America. The tools and implements need to chop the wood were manufactured in some distant unit with metal ore that came from far away. The yellow paint that coats the pencil comes from someplace else. The eraser at...

about 1 month ago • 7 min read
brown concrete house on green grass field

Hello! Is this your first time here? You can read all the previous issues of Graham's Newsletter and subscribe here. Today's issue is sponsored by: Behind every big headline or emerging theme, there's the data that underpins the story. When I want to understand the deeper insights behind the data, I turn to Chartr's free visual newsletter, packed with beautiful charts covering business, tech, entertainment and society – in less than a 5 minute read. Join 500,000+ professionals and get the...

about 2 months ago • 9 min read

Hello! Is this your first time here? You can read all the previous issues of Graham's Newsletter and subscribe here. Every year since 2017, the National Retail Federation has been forecasting how many potential shoppers would hit the stores and buy online on Thanksgiving weekend. Their prediction for this year was 182 million potential shoppers. They missed their mark by a wide margin. 200.4 Million consumers shopped this year – beating last year’s record high of 196.7 million! Holiday...

2 months ago • 9 min read

Hi there! Is this your first time here? You can read all the previous issues of Graham's Newsletter and subscribe here. Nobody reads between the lines like market enthusiasts. In 2023, a single tweet from Elon Musk could shake the markets, no matter how cryptic they were. For example, when people were still wondering whether Elon would take a stake in Twitter or not, he tweeted “___ is the night”. The missing word was decoded as “Tender” – a possible reference to him making an offer for...

2 months ago • 8 min read
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