Essays — Dan Benn

Why owning 15 great businesses can outperform indexing if you master the psychology.

A look at why Fastenal’s deeply entrenched distribution model makes it a durable, long-term compounder worth owning.

Ironically, capitalists should want to invest in businesses that don’t require capital.

AI’s next bottleneck is power, and Monolithic Power is built to solve it.

Progressive quietly compounds through cost discipline, data, and a culture built to last.

Autodesk is a durable, standards-based compounder built to deliver steady, above-market returns over time.

FICO’s still a great business—but at 43× earnings, I’m holding, not buying.

Selling too early kills compounding; real strength is staying detached from price anchors.

FICO’s embedded standard and decisioning platform thesis.

Design‑win flywheel; power‑management silicon in AI data centers.

Valuation, improving business quality, and local moats.