Tuesday, July 29, 2014


John Burbank on the Source of the Biggest Mispricings (LINK)

How Money and Banking Work On a Gold Standard (LINK)

Andrew Smithers: The problem of the equity risk premium (LINK)

Jim Grant: Buy Hated These Hated Stocks (LINK)

Mark Hanson: Lack of Defaults/Foreclosures/Short Sales; A Serious Housing & Spending Headwind (LINK)

Ebola Requires a Team Africa (LINK)

Stratfor: Gaming Israel and Palestine (LINK)

Unlearning From Peter Bernstein (LINK)
Q [Jason Zweig]. Over the course of your career, what are the most important things you’d say you had to unlearn? 
A [Peter Bernstein]. That I knew what the future held, I guess. That you can figure this thing out. I mean, I’ve become increasingly humble about it over time and comfortable with that. You have to understand that being wrong is part of the process. And I try to shut up at cocktail parties. You have to keep learning that you don’t know, because you find models that work, ways to make money, and then they blow sky-high. There’s always somebody around who looks smart. I’ve learned that the ones who are the most smart aren’t going to make it. I don’t know anybody who left investing to become an engineer, but I know a lot of engineers who left engineering to become investors. It’s just so infinitely challenging.