Tuesday, November 4, 2014


Munger’s Psychology Mindmapped (LINK) [A great post, and similar to what I'm doing with Munger's speech via a memory palace. The one thing I would recommend is using the speech from Poor Charlie's Almanack and not the online text from 1995, as Munger added and re-organized his thoughts for the book. And note, if you buy the book on Amazon you can usually save some money compared to buying straight from the book's site, as the publisher is selling it on Amazon but with a lower shipping cost. Go to the Amazon link, click on "15 New from $53.99", and the ones being sold for $53.99 come from the publisher with just an additional $3.99 in shipping cost. They are $49.00 on poorcharliesalmanack.com, but the shipping cost makes it more expensive overall, at least to ship to where I live.]
Related books, HERE. Related link: Mind Mapping Software
A Dozen Things Learned from John Malone (LINK)
Related book: Cable Cowboy
Brain Pickings with a great overview and excerpts from E.O. Wilson's The Meaning of Human Existence (LINK)
Related link: E.O. Wilson on Charlie Rose
Slides from some of the speakers at the Grant's conference (LINK)

Howard Marks on Bloomberg (video) [H/T ValueWalk] (LINK)

Bill Gross' latest Investment Outlook: The Trouble with Porosity and Prosperity (LINK)

The Absolute Return Letter, November 2014: Snail Trail Vortex (LINK)
The world is undergoing a radical shift towards lower economic growth at the moment. Some of the dynamics driving growth down are structural in nature (e.g. demographics), and even the most extreme monetary or fiscal policy will not change that. We are in for a period of lower, but still positive, global growth whether we like it or not. Despite the somewhat muted outlook, we continue to expect significant regional variations in growth and therefore also in interest rates and equity returns. Global GDP has averaged almost 4% per annum over the past few decades, but we are now closer to 3% and the number continues to shrink. It is almost unthinkable, at least the way we see the world, that this number will begin to increase any time soon and portfolios must be constructed accordingly.