In Case You Missed It: Triumph Financial Q4 Update
Another great piece by Reflections of a Capital Allocator
John Maxfield’s passion for showing the roots and value of community banks shows in this video
Mental Models Musings - Why I’m Glad to Pay $10/ounce for Rubbing Alcohol
I first learned of Touchland hand sanitizer spray when it appeared on my kids’ holiday shopping lists. Never heard of it? The company was founded in 2014 in Spain by Andrea Lisbona and came to the US in 2018.
The product aims to make hand sanitizer fashionable.
A curious byproduct of its success is a reduction in illness, at least in my family. It’s why I now consider the exorbitant price of $10 for a single ounce worth every penny.
We haven’t had a real cold or flu in the household all winter. The vector is almost always the kids bringing something home from school. But now, they’re using their Touchland spray all day long. Dad couldn’t be happier.
It’s interesting to see a confluence of factors at work.
Social proof: The company invests in marketing/advertising to make its product trendy. Kids see other kids using it and dutifully ask their parents to buy it for them.
Operant conditioning: Each spritz delivers germ-busting ethyl alcohol (your basic rubbing alcohol) and, importantly, a pleasant scent, thus encouraging use. In this way it’s no different from other beauty/personal care products, I suppose.
Classical conditioning: Each handshake, turn of a public door handle, etc., causes me to reach for the stuff, creating Pavlovian association effects.
This week in Berkshire History
February 2, 2017: Berkshire’s retroactive reinsurance deal with American International Group (AIG) becomes effective. The $10.2 billion premium covering up to a $20 billion payout was the largest insurance contract in history.
February 6, 2006: Berkshire converts its preferred shares in MidAmerican into voting common shares after the repeal of PUCHA on August 8, 2005.
That’s it for this week. Hit reply and let me know what you think. What have you been reading that’s worth sharing? Let me know in the comments.
Stay Rational!
Adam
Pre-Order the 2nd Edition Now!
Amazon, Barnes & Noble, or directly from Harriman House, and at other major bookstores, for delivery in April 2026.
Thank you for your recommendation, and great job coaching in the SuperBowl!