Tuesday, August 28, 2018


"The very best businesses, the really wonderful businesses, require no book value...We want to buy businesses, really, that will deliver more and more cash and not need to retain cash, which is what builds up book value over time. Admittedly, the prices of marketable securities, at any given time, are not a great indication of their intrinsic value. They are far better, though, than the book value of those companies in indicating intrinsic value.... It’s a factor we ignore. We do look at what a company is able to earn on invested assets and what it can earn on incremental invested assets. But the book value, we do not give a thought to." --Warren Buffett (2000)

A Jolt To The Jugular! You’re Insured But Still Owe $109K For Your Heart Attack [H/T @RosenthalHealth] (LINK)

Submerging Markets Got You Down? Reflexivity Explains Why (LINK)

Uber’s Bundles - by Ben Thompson (LINK)

Charles Wagner’s 100-Year-Old Warning About Social Media - by Cal Newport (LINK)

Invest Like the Best Podcast: Elad Gil – How to Identify Interesting Markets (LINK)
Related book: High Growth Handbook
The Art of Manliness Podcast: How to Achieve Hyperfocus – Chris Bailey (LINK)
Related book: Hyperfocus: How to Be More Productive in a World of Distraction
5 decades after his death, George Gamow’s contributions to science survive (LINK)
Related book: My World Line: An Informal Autobiography - by George Gamow
When Conservation Backfires - by Ed Yong (LINK)