The most-cited reference for plain-language institutional writing on markets, risk, and the discipline of independent thinking. Free, published roughly monthly, archived back to 1990.
The memos are the reference for Foundry’s own register. Marks writes long, writes plainly, cites widely, and never claims authority he has not earned. The pattern is the pattern Foundry attempts to apply to lower-middle-market topics.
Recommended starting points: “On the Couch” (2016), “Risk Revisited” (2014), “Mastering the Market Cycle” series. Reading several memos consecutively is more useful than reading any single one.