Monday, September 14, 2015


Seth Klarman’s Presentation To Bruce Greenwald’s 2010 CBS Class (video) [H/T ValueWalk] (LINK)

Tren Griffin joins the a16z Podcast to talk about his book on Charlie Munger (LINK)
Related link: A Dozen Things I’ve Learned from Charlie Munger about Inversion (including the Importance of being Consistently Not Stupid)
Jason Zweig talks with Barry Ritholtz on the Masters in Business podcast (LINK)
Related book: The Devil's Financial Dictionary
James Grant on WealthTrack (video) [H/T Will] (LINK)

Richard Duncan on CNBC (video) (LINK)

Hussman Weekly Market Comment: The Beauty of Truth and the Beast of Dogma (LINK)
In short, my view is that activist Fed policy is both ineffective and reckless (and the historical data bears this out), and that the Federal Reserve has pushed the financial markets to a precipice from which no gentle retreat is ultimately likely. Similar precipices, such as 1929 and 2000, and even lesser precipices like 1906, 1937, 1973 and 2007 have always had unfortunate endings (see All Their Eggs in Janet’s Basket for a review). A quarter-point hike will not cause anything. The causes are already baked in the cake. A rate hike may be a trigger with respect to timing, but that’s all. History suggests we should place our attention on valuations and market internals in any event.
A review of Robert Hagstrom’s book Latticework: The New Investing (LINK)


Matt Ridley: Genetics is good for you (LINK)

How This Cave-Dwelling Fish Lost Its Eyes to Evolution (LINK)

Homo Naledi, New Species in Human Lineage, Is Found in South African Cave (video and article) (LINK) [I loved this quote from the article, which is true in science, investing and many other things as well: "The finding, like so many others in science, was the result of pure luck followed by considerable effort."]

Book of the day: Time, Love, Memory: A Great Biologist and His Quest for the Origins of Behavior