Thursday, May 23, 2019


"Charlie and I have circles of competence that extend to evaluating a number of types of businesses, and there are a whole lot of businesses that we won’t be able to evaluate.... We are best at the businesses where we can come to a judgment that they’re going to look a good bit like they do now five years from now, ten years from now. They’ll be bigger. They’ll be doing different things, but the fundamentals will be the same." --Warren Buffett (2006

Transcript of Jason Zweig on the North Star podcast (LINK)

Kyle Bass' full letter: "The Quiet Panic in Hong Kong" (LINK)

Global imbalances and the international footprint of firms: what role for exchange rates? [H/T @Trinhnomics] (LINK)

David Tepper is reportedly converting hedge fund into a family office, returning outside capital (LINK)

Daniel Kahneman's forward to the latest Edge Annual Question book (LINK)

The Investing City Podcast: 22 - Bluegrass Capital: Securities Analysis (LINK)

The Wright Show (podcast): Completing the Darwinian Revolution (Robert Wright & David Sloan Wilson) (LINK)
Related book: This View of Life
The Secret of Coral Reefs: Tiny Fish That Are Great at Dying - by Ed Yong (LINK)