Sunday, December 23, 2018

Links

Charlie Munger in 2002, in response to a question about the mistake Berkshire made acquiring Dexter Shoe: 
"That shows, which is important to show, that no matter how hard you work at having systems for avoiding error and practices of trying to stay within your circle of competency, et cetera, et cetera, you still make mistakes."
***

What You Can Learn From One of Warren Buffett’s Smartest Investors - by Jason Zweig (LINK)

Here’s What Warren Buffett Sends to a Select Group of People at Christmas - by Carol Loomis [H/T Linc] (LINK)

Ajit Jain buys $20 million of Berkshire Hathaway’s shares (LINK)
Berkshire Hathaway’s Ajit Jain bought about $20 million of stock on Dec. 18, according to a regulatory filing on Thursday. 
The move was in A shares, the ones that trade around $288,000 each. The filing said the purchases were done in multiple transactions at prices ranging from $295,750 to $297,000 a share. The move could be interpreted as a sign of confidence as the stock market continued its multi-day plunge to fresh lows for the year.
Howard Marks: UCLA Anderson Fink Center "Mastering the Market Cycle" (video) (LINK)
During a standing-room only interview at UCLA Anderson on October 11, 2018, living investment legend Howard Marks encouraged investors of all experience levels to develop a keen observation of cyclical indicators and historic market patterns to manifest opportunities. 
Howard Marks: CAIA / CFA / HKSFA Hong Kong (video) (LINK)
Howard Marks, Co-Chairman, speaks with Ms. Teresa Han at an event co-hosted by CAIA / CFA / HKSFA / Oaktree in Hong Kong. (Recorded on October 26, 2018)
‘Canada’s Warren Buffett’ Drives His Own Pickup Truck [H/T Linc] (LINK)
On the road with billionaire Jim Pattison.
Michael Shearn: Invest in Leadership [H/T @iancassel] (LINK)

Investing Lessons from Bill Browder [H/T @iancassel] (LINK)

David Tepper: Fed is done supporting stock prices, so cash is ‘not so bad’ as an investment now [From Thursday morning] (LINK)

It’s Not Time to Panic (Yet) - by Cullen Roche (LINK)

Demon Underneath: John DeLorean and the invention of the future [H/T @jtepper2] (LINK)
Long before Elon Musk, a visionary automaker showed how ugly the American Dream could be.
Weaving Magic Unravels in Woolrich, Pa. [H/T @timhanso] (LINK)
After nearly two centuries, a mill closes and a storied brand ceases to be ‘Made in the U.S.A.’
How Much Trust Can Facebook Afford to Lose? - by Evan Osnos (LINK)

How Worried Should Americans Be About Facebook and Cyber Warfare? (podcast) (LINK)
Evan Osnos joins Dorothy Wickenden to discuss investigations into what Facebook knew about Russia’s interference in the 2016 election, and into the company’s misuse of users’ data.
A16z videos on What’s Next for Marketplace StartupsExtending Human Lifespan, Programming Medicine, and Nature as Technology.

Graham Allison: My North Korea Prediction for 2019 (LINK)

The Itsy-Bitsy, Teenie-Weenie, Very Litigious Kiini Bikini (LINK)

A Courting Peacock Can Shake Its Partner’s Head From Afar - by Ed Yong (LINK)

Apollo 8’s Earthrise: The Shot Seen Round the World (LINK)