Monday, April 11, 2016


Transcript of Charlie Munger's comments at the 2016 Daily Journal Annual Meeting (LINK) [From Whitney Tilson, and about half the length as Shane Parrish's (HERE), but a nice addition overall.]

Oh, Those Weapons of Mass Distraction! - by Sanjay Bakshi (LINK)

100 to 1 by Thomas Phelps, in 95 points [H/T @BigNitin] (LINK)
Related book: 100 to 1 in the Stock Market
A Dozen Things Learned from Jessica Livingston About Business and Investing (LINK)

Sam Hinkie's resignation letter (LINK)

Clients Pull Cash From Valeant Investor, Get Stock Instead (LINK)
When Tom Bentley tried to pull his money from a mutual fund troubled by its large stake in Valeant Pharmaceuticals International Inc., he instead received shares in a Springfield, Mo. auto-parts retailer. 
Sequoia Fund Inc. sent the retired computer hardware engineer about 5% of his money in cash and the rest was stock in one company–O’Reilly Automotive Inc. Mr. Bentley said he sold the shares as soon as they appeared in his account on April 7, but they had already dropped in value.
India's thirst for oil is overtaking China's [H/T Matt] (LINK)

The Brooklyn Investor blog on the JPM annual report (LINK)

You’re Smarter Than You Think (LINK)

Steve Case talks to Steven Levy (LINK)
Related book: The Third Wave
TED Talk - Linus Torvalds: The mind behind Linux (LINK)

Elizabeth Gilbert on the Longform podcast [H/T The Waiter's Pad] (LINK)

Charles Duhigg on the James Altucher podcast (LINK)
Related book: Smarter Faster Better: The Secrets of Being Productive in Life and Business
What I Learned From Tickling Apes - by  FRANS de WAAL (LINK)

The sugar conspiracy [H/T Tamas] (LINK)

For audiobook listeners, Audible is having its Spring Cleaning Sale, where almost all books are half-off. Here are some of the ones I'm thinking about (some of which I have the physical book and am considering the audio version as well) where the sale price is either around or below the price of an Audible credit (which is about $10-15, depending on the plan one is on):

Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor

Grit: The Power of Passion and Perseverance

How to Lie with Statistics

How Not to Be Wrong: The Power of Mathematical Thinking

The Third Wave: An Entrepreneur's Vision of the Future

The Disruption Dilemma

No Ordinary Disruption: The Four Global Forces Breaking All the Trends

The Industries of the Future

Leap First: Creating Work That Matters

The 22 Immutable Laws of Marketing

Behind the Cloud: The Untold Story of How Went from Idea to Billion-Dollar Company and Revolutionized an Industry

Beam, Straight Up: The Bold Story of the First Family of Bourbon

When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar, Germany

Tap Dancing to Work: Warren Buffett on Practically Everything, 1966–2012: A Fortune Magazine Book

What I Learned Before I Sold to Warren Buffett: An Entrepreneurs Guide to Developing a Highly Successful Company

How Chuck Feeney Made and Gave Away a Fortune: The Billionaire Who Wasn't

John Neff on Investing

Where Keynes Went Wrong: And Why World Governments Keep Creating Inflation, Bubbles, and Busts

The Panic of 1907: Lessons Learned from the Market's Perfect Storm

Memoirs of Extraordinary Popular Delusions and the Madness of Crowds

Zen in the Art of Archery

E=mc2: A Biography of the World's Most Famous Equation

Quantum Man: Richard Feynman’s Life in Science