“Unfortunately in this kind of work, where you are trying to determine relationships based upon past behavior, the almost invariable experience is that by the time you have had a long enough period to give you sufficient confidence in your form of measurement, just then new conditions supersede and the measurement is no longer dependable for the future.” -Benjamin Graham ("Securities in an Insecure World")
Martin Capital Management 2017 Annual Report [H/T Linc] (LINK)
Seth Godin Keynote: Customer Service in the Age of AI (video) [H/T Tamas] (LINK)
Matt Ridley writing about Britain's energy options (LINK)
Hidden Forces Podcast: Can We Learn to Invest in the Future? | Meditations on Passion, Randomness, and Optionality with Josh Wolfe (LINK)
The Skift podcast: The Airbnb Threat (LINK)
This episode of the Skift podcast goes all in on Airbnb and the competitive threat it poses to traditional hotel companies and booking sites.Dan Pink chats with Tim Ferriss (podcast) (LINK)
Related book: When: The Scientific Secrets of Perfect Timing‘That’s $425,000 right there’ — the anxious launch of a gene therapy with a record sticker price [H/T @DrSidMukherjee] (LINK)
How to Search on Google: 31 Google Advanced Search Tips [H/T @ChrisPavese] (LINK)
Patrick O'Shaughnessy on Twitter with a must-read thread (in the category of "life is short") (LINK)