Wednesday, July 12, 2017


"To have a true investment there must be present a true margin of safety. And a true margin of safety is one that can be demonstrated by figures, by persuasive reasoning, and by reference to a body of actual experience." -Benjamin Graham, The Intelligent Investor [H/T Jason Zweig]

Warren Buffett’s Berkshire Moves Away From Stock Picking (LINK)

Visa Takes War on Cash to Restaurants (LINK)
Visa Inc. has a new offer for small merchants: take thousands of dollars from the card giant to upgrade their payment technology. In return, the businesses must stop accepting cash. 
The company unveiled the initiative on Wednesday as part of a broader effort to steer Americans away from using old-fashioned paper money. Visa says it is planning to give $10,000 apiece to up to 50 restaurants and food vendors to pay for their technology and marketing costs, as long as the businesses pledge to start what Visa executive Jack Forestell calls a “journey to cashless.”
A New Record High for U.S. Consumer Debt (LINK)

Raoul Pal talks with Jesse Felder on the Superinvestors and the Art of Worldly Wisdom podcast (LINK)

Left or Right? Thoreau Wouldn’t Have Understood the Question (LINK)

Thoreau at 200: Reflections on "Walden" (video) (LINK)

Ten things you don’t know about asteroids (and impacts thereof) - by Phil Plait (LINK)

Scientists Can Use CRISPR to Store Images and Movies in Bacteria - by Ed Yong (LINK)