Saturday, October 19, 2019


"In baseball terms, you want to buy [a stock] in the second or third inning and get out in the seventh or eighth. Walmart was in only 15% of the United States when they were a 10-year-old public company. All they did for the next 30 years was go from 15% to 100%. The stock went up 50-fold. They had a great formula, and they just rolled with it in the United States." --Peter Lynch

Lessons from an investing legend: Former Fidelity fund manager Peter Lynch shares some of his secrets to success [H/T @TaoValue] (LINK)

Oaktree's Howard Marks on Negative Rates, Demanding Safety, U.S. Recession (video) (LINK)
Related memo: "Mysterious"
Time for Advisers to Speak to Us in Plain English - by Jason Zweig ($) (LINK)

Neil Woodford: the inside story of his rise and dramatic fall ($) (LINK)

Why It’s So Hard to Make a Better Baby Formula (LINK)

The World's Largest Geode Formed When the Mediterranean Sea Disappeared [H/T Linc] (LINK)

"Some things are inevitable. But you really shouldn't think you know when." --Howard Marks