"It is necessary to caution the analyst against overconfidence in the practical utility of his findings. It is always good to know the truth, but it may not always be wise to act upon it, particularly in Wall Street. And it must always be remembered that the truth that the analyst uncovers is first of all not the whole truth and, secondly, not the immutable truth. The result of his study is only a more nearly correct version of the past. His information may have lost its relevance by the time he acquires it, or in any event by the time the market place is finally ready to respond to it." --Benjamin Graham and David Dodd (Security Analysis: Sixth Edition)
Marks Investor Series featuring Howard Marks, W’67, Co-Chairman, Oaktree Capital (video) (LINK)
Oaktree’s Howard Marks says Brexit makes UK too risky to invest in (LINK)
Fool Me Three Times And I Give Up - by Morgan Housel (LINK)
Knowledge vs. Skill - by Ben Carlson (LINK)
The Holy Active Empire - by Jamie Catherwood (LINK)
Apple and Amazon at a Trillion $: Looking Back and Looking Forward! - by Aswath Damodaran (LINK)
How to Make a Killing in Gene Therapy [H/T Ian] (LINK)
Creative Prompts - by Fred Wilson (LINK)
Habits vs. Workflows - by Cal Newport (LINK)
a16z Podcast: Tesla and the Nature of Disruption (LINK)
Crazy/Genius Podcast (from last week): Can Science Cure Aging? (LINK)
Crazy/Genius Podcast: Will We Ever Stop Eating Animal Meat? (LINK)
Long Now Seminars (podcast version) -- Julia Galef: Soldiers and Scouts: Why our minds weren’t built for truth, and how we can change that (LINK)
Sam Harris speaks with Yuval Noah Harari about his new book 21 Lessons for the 21st Century (podcast) (LINK)
What Ecstasy Does to Octopuses - by Ed Yong (LINK)
Despite their wacky brains, these intelligent animals seem to respond to the drug in a very similar way to humans.A 558-Million-Year-Old Mystery Has Been Solved - by Ed Yong (LINK)
Scientists have finally confirmed that a weird ribbed oval called Dickinsonia is an animal.