"If we could guess successfully a high percentage of the time where the stock market was going to go, we would do nothing but play the S&P futures market. There wouldn’t be any reason to look at businesses and stocks. It’s just not our game. What we see when we look at the stock market is we see thousands and thousands and thousands of companies priced every day, and we ignore 99.9 percent of what we see, although we run our eyes over them. And then every now and then we see something that looks like it’s attractively priced to us, as a business. Forget about the word 'stock.' So when we buy a stock, we would be happy with that stock if they told us the market was going to close for a couple years. We look to the business." --Warren Buffett (2008)
Cliff Asness on why it's hard to say when value wins again (LINK) [“A huge part of our job is building a great investment process that will make money over the long term, but a fair amount of our job is sticking to it like grim death during the tougher times.”]
How Elon Musk Gambled Tesla to Save SolarCity - by Bethany McLean (LINK)
Streaming Video Will Soon Look Like the Bad Old Days of TV - by Matthew Ball (LINK)
China's Hong Kong Dilemma - by Evan Osnos (LINK)
The Acquirers Podcast: Ian Cassel chats with Tobias Carlisle (LINK)
The Investor’s Podcast: Small Cap Investing - w/ Eric Cinnamond (LINK)
Flux Podcast: 24: Matt Cauble—Soylent’s Co-Founder Goes After Alcohol (LINK)