Monday, August 15, 2016


Michael Mauboussin talks with Barry Ritholtz on the MiB podcast (LINK)
Related books: HERE
25iq: A Dozen Ways Michael Bloomberg Thinks Like Charlie Munger (LINK)

Preferred Stock: This Crazy Market Warps Another Asset - by Jason Zweig (LINK)
In investing as in life, popularity has its price. 
Investors in preferred stocks may learn that lesson before long. With stocks hitting record highs in lockstep this week and bonds providing income you can’t find without a microscope, preferred stocks have been one of the trendiest investments around. But this market shows some signs of overheating.
Negative Rates for the People Arrive as German Bank Gives In [H/T Matt] (LINK)
When the European Central Bank introduced a negative interest rate on lenders’ deposits two years ago, few thought things would ever go this far. 
This week, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee -- population 5,767 -- said it’ll start charging retail customers to hold their cash. From September, for savings in excess of 100,000 euros ($111,710), the community’s Raiffeisen bank will take back 0.4 percent. That’s a direct pass through of the current level of the ECB’s negative deposit rate.
William Green talks to The Successful Pitch podcast (LINK)
Related book: The Great Minds of Investing
The Most Successful Investments Have Two Things in Common - by Chris Mayer (LINK)
Related book: Quality Investing: Owning the best companies for the long term
What managers misunderstand about shareholder value - by Alfred Rappaport [H/T @mjmauboussin] (LINK)
Related book: Creating Shareholder Value
Recode: We read that 10,000-word interview with Apple CEO Tim Cook so you don’t have to (LINK)

The Most Intolerant Wins: The Dictatorship of the Small Minority - by Nassim Nicholas Taleb (LINK)

The 10,000 Kidnapped Boys of Boko Haram (LINK)
The militant group has forced thousands to become child jihadists. As many escape, Nigeria wonders what to do with them.
Why Are Bananas So Cheap? (LINK)
Related books: 1) Banana: The Fate of the Fruit That Changed the World; 2) Bitter Fruit: The Story of the American Coup in Guatemala
First Americans May Have Arrived by Coastal, Not Inland, Route (LINK)

Beginners Guide to Stoicism (LINK)
Related previous post: Stoicism quotes, thoughts, and readings
Book of the day [also included as one of the choices in Audible's latest 2-for-1 sale]: Skunk Works: A Personal Memoir of My Years of Lockheed