Saturday, December 26, 2015


Sanjay Bakshi: What did HE mean when he said Never Lose Money? (LINK)

How the Third Avenue Fund Melted Down (LINK)

Many Concerns About Third Avenue [H/T Linc] (LINK)

Oil Bankruptcies Reach Highest Quarterly Level Since Recession (LINK)

Energy Companies Gird for Weaker Prices in 2016 (LINK)

What I Learned from Losing $200 Million (LINK)

Two Business Lessons From Patagonia’s Yvon Chouinard (LINK)
Related book: Let My People Go Surfing: The Education of a Reluctant Businessman
Ray Dalio's Investing Thoughts: 3 Things He Always Repeats (LINK)
1.) It isn't easy for me to be confident that my opinions are right. In the markets, you can do a huge amount of work and still be wrong. 
2.) Bad opinions can be very costly. Most people come up with opinions and there’s no cost to them. Not so in the market. This is why I have learned to be cautious. No matter how hard I work, I really can’t be sure. 
3.) The consensus is often wrong, so I have to be an independent thinker. To make any money, you have to be right when they’re wrong.
Apatheia vs Ataraxia: what’s the difference? (LINK)