Friday, July 7, 2017


"We live on a planet of inexperience, with an unknown future, forced to make decisions based only on the past, a past that may prove to be a limited guide to the future. On this planet we are drawn away from strict optimization and toward heuristics." -Richard Bookstaber (The End of Theory)

Buffett's Berkshire Hathaway Nears $18 Billion Deal for Oncor (LINK)

Berkshire Hathaway's Clayton Buys Oakwood Homes [H/T Linc] (LINK)

Central Banks’ Reversals Signal the End of One Era and the Beginning of Another - by Ray Dalio (LINK)

What I Believe Most - by Morgan Housel (LINK)

Normalizing Earnings and Real Rates - by Eric Cinnamond (LINK)

Forget an IPO, Coin Offerings Are New Road to Startup Riches ($) (LINK)
Two obscure companies with no sales raised nearly $400 million combined in recent days from outside investors. How did they do it? Via a new, unregulated fundraising method that has no connection to Wall Street and is based in the world of cryptocurrencies. 
These fundraisings, called “Initial Coin Offerings,” are exploding in value. So far this year, companies have raised more than $1 billion this way. That is 10 times the amount raised in 2016, according to Smith & Crown, a digital-currency research firm.
Revisionist History podcast: "The Foot Soldier of Birmingham" (LINK)

The Bipartisan Fight for Quieter Oceans - by Ed Yong (LINK)