Sunday, June 18, 2017


Mohnish Pabrai on The Steve Pomeranz Show (podcast) (LINK) ["Inaction and patience are very important traits, but they need to be coupled with decisiveness and willingness to act in size. So it's an unusual kind of trait to have someone who's happy watching the paint dry; but then when all the ducks line up, you swing hard.... The key is if you're not convinced you're looking at a no-brainer, take a pass." -Mohnish Pabrai]

The Tortoise and the Hare in the Pursuit of Return - by Frank K. Martin (LINK)

On GE and the myth of the CEO superhero - By Roger Lowenstein (LINK)

Did the Jack Welch Model Sow Seeds of G.E.’s Decline? - by James B. Stewart [H/T @FourFilters] (LINK)

Berkowitz Says Amazon Deal Shows Value of Physical Retailing (video and article) (LINK)

The back story on John Mackey and his battle with Wall Street, which led to Whole Foods agreeing to sell itself to Amazon last week (LINK)

GreenWood Investors: The Battle For Whole Foods Isn’t Over (LINK)

Scott Galloway on the Recode Decode podcast (audio and transcript) (LINK)
[This interview was before the Amazon purchase of Whole Foods was announced.]... Everyone looks to Amazon for leadership and I’ve been predicting they were going to go into stores for five years. I can’t even really legitimately say I’m right, because they don’t have a lot of stores yet. They haven’t found a model that works for them yet. I still believe they’re going to buy a Macy’s, or a Carrefour or something like that. I can’t imagine why they wouldn’t buy Whole Foods, for example, just because of the urban locations. They could close them down and just turn them into warehouses and I think they could justify the price.
The Radial Tire Lesson for Silicon Valley [H/T @trengriffin] (LINK)

How would Ann Miura-Ko have reacted if Bill Gates had walked into her office in 1975? - by Tren Griffin (LINK)

Vegetable oils, (Francis) Bacon, Bing Crosby, and the American Heart Association - by Gary Taubes (LINK)

Book of the day: Speculation As a Fine Art and Thoughts on Life -  by Dickson Watts [See also: Rules of a Successful Speculator]