Monday, October 12, 2015


In case you haven't bought your copy yet, I just noticed that Chris Mayer's latest (and excellent) book is now available on Amazon (I think it started as only being available through Agora): 100 Baggers: Stocks That Return 100-to-1 and How To Find Them

And speaking of Chris Mayer, I know he's liked Nobilis Health (HLTH) fairly recently, and it has gotten beaten up over the last couple of days due to fraud allegations that were posted on Seeking Alpha (HERE). The company has responded HERE. I don't know anything about it yet, but it may be an interesting situation to look into.

Ken Feinberg talks to Barry Ritholtz on the Masters in Business podcast (LINK)

Piketty Versus Kuhn. The Debate Over a New Economic Paradigm - by George Cooper (LINK)
Related book: Money, Blood and Revolution
An excerpt from Niall Ferguson's book on Henry Kissinger (LINK)

Ferguson also had an opinion piece in the WSJ: The Real Obama Doctrine (LINK)

What Really Killed the Dinosaurs? (LINK)

Quote of the day, from Seth Klarman, 7 years ago this month as the crisis in 2008 was continuing its downward spiral:
In terms of our firm, I tried so hard to learn the lessons of 1998 in particular, which were: Don’t be unprepared for something out of the blue that’s really bad.  
To some extent, we were prepared this time.  However, you can never be prepared enough.  We had a lot of macro protection in terms of credit default protection on bonds where we were just betting that credit spreads would widen. That’s been incredibly helpful.  But we’ve gotten really tired of buying market puts, or anything like that, because they inevitably are expensive and expire worthless.  
So as an investor, you have terrible trade-offs.  Do you overpay for insurance — or do you go uninsured? That’s just one of those dilemmas for which there are really no perfect answers.