Wednesday, August 19, 2015


Latticework of Mental Models: Feedback Loops (LINK)

Grant's Summer 2015 Vacation Issue (LINK)

Share of IPOs this year with dual-class stock structures [H/T Matt] (LINK)
More than 13.5% of the 133 companies listing shares on U.S. exchanges in 2015 have set up a dual-class structure, according to data provider Dealogic. That’s up from 12% last year and just 1% in 2005.
Book of the day (published in 1997): Investment Gurus - by Peter J. Tanous
Tanous: Since you stopped managing the fund actively, have you seen anything in the markets that has changed your views about either the way the market works or the value of investing in stocks over the long term? 
[Peter] Lynch: Zero. Human nature hasn’t changed much in about 40,000 years. Corporate profits have their ups and downs. Markets have their ups and downs. Companies turn around; companies deteriorate. I don’t think these things are going to change in the next hundred years.