Thursday, October 10, 2019


Note: The early bird discount for the Project Punch Card Value Investing Conference expires on Tuesday, October 15th (when the price will increase from $245 to $495).


Is Amazon Unstoppable? - by Charles Duhigg (LINK)

That Time Warren Buffett's Investment Was Blocked by Bank of America’s Call Center (LINK)

GMO Quarterly Letter | Shades of 2000 - by Ben Inker (LINK)
The years leading up to the 2000 stock market bubble were extraordinary and unprecedented. They caused unique pain to the portfolios of valuation-driven investors. The valuation extremes, though, created the greatest opportunity set for valuation-driven investors since the Great Depression. While the events of the last decade have not been as striking as those of the late 1990s, the recent cycle has gone on for significantly longer and the pain caused to our portfolios has begun to approach 1990’s levels. As the current cycle has ground on slowly but surely, the valuation extremes have moved wider, creating an opportunity set for valuation-driven investors that looks as extraordinary as what we saw 20 years ago.
Bill Nygren Market Commentary | 3Q19 (LINK)

Greece, Once in Crisis, Joins Negative-Rates Club ($) (LINK)
Debt-laden country sells bonds yielding less than 0% for the first time
China Forces the N.B.A. to Weigh Value Against Values - by Evan Osnos (LINK)

Shipping Fuel Is About to Get Cleaner. What It Means for Investors. ($) (LINK)

Is a split in the works between Zambia and its long-time business partner, China? [H/T @michaelxpettis] (LINK)

My New Book, Why I Wrote It, and Where the Money Will Go - by Ben Horowitz (LINK)
Related book (end-of-month release): What You Do Is Who You Are: How to Create Your Business Culture
The Talk Show With John Gruber: 265: ‘Thompson’s Razor’, With Special Guest Ben Thompson (LINK)

Kosmos with a K Podcast: #7 Tyler Cowen (GMU) on less homework, Swiss science culture, and low university completion rates (LINK)

MartyrMade Podcast #13 – God’s Socialist, pt. 3: Head North, Then Turn Left [H/T @maxolson] (LINK)
In this episode I trace the trajectory of the civil rights movement through the 1960s, and the gradual shift in emphasis and leadership from the stoic southern marchers following Martin Luther King, Jr to the militant Black Power soldiers of the northern ghettos.
The Andromeda Galaxy ate its small friends… twice - by Phil Plait (LINK)

The day our galaxy exploded - by Phil Plait (LINK)

Researchers “Translate” Bat Talk. Turns Out, They Argue—A Lot (LINK)

It’s Possible to Inherit More DNA From One Parent Than the Other - by Sarah Zhang (LINK)

TED Talk: What Bruce Lee can teach us about living fully | Shannon Lee (LINK)

Marcus Aurelius on How to Control the Mind (LINK)