Thursday, December 5, 2019


Here's an example of how great of a resource Twitter can be at times.... Cliff Asness and Tren Griffin were disagreeing about the source of Berkshire Hathaway's outperformance over the years, and then Chris Bloomstran—who is probably the world expert on Berkshire Hathaway outside a handful or two of company insiders—chimes in with a 22-Tweet thread on the topic.

Conover Investment Advisory's December 2019 Newsletter: Inside the Great Wall (LINK)

Unintended Perk of the Online Mattress Boom: Never-Ending Free Trials ($) (LINK)

Superinvestors and the Art of Worldly Wisdom Podcast: #31: Rob Arnott On Engineering A Better Index (LINK)

Freakonomics Radio (podcast): 399. Honey, I Grew the Economy (LINK)

The Tim Ferriss Show (podcast): #399: Adam Grant — The Man Who Does Everything (LINK)

Conversations with Tyler (podcast): Daron Acemoglu on the Struggle Between State and Society (LINK)

A white dwarf is cooking a giant planet and slowly eating it - by Phil Plait (LINK)

Why Smallpox Is No More but Polio and Other Diseases Persist (LINK)

Book of the day: The World in a Grain: The Story of Sand and How It Transformed Civilization

Tuesday, December 3, 2019


"I think that the most important investment you can make is in yourself. Very, very, very few people get anything like their potential horsepower translated into the actual horsepower of their output in life. Potential exceeds realization to just an enormous factor with so many people.... Your best asset is your own self. And you can become, to an enormous degree, the person you want to be." --Warren Buffett (2008)

Portability and Interoperability - by Ben Thompson (LINK)

How Spices Have Made, and Unmade, Empires [H/T @wolfejosh] (LINK)

Prime Mover: How Amazon Wove Itself Into the Life of an American City (LINK)

The One-Traffic-Light Town with Some of the Fastest Internet in the U.S. (LINK)

The Absolute Return Letter - December 2019: A Future Embedded in the Present (LINK)

Michael Lewis on CNBC (LINK)

My Decade - by Michael Batnick (LINK)

The ergodicity problem in economics - by Ole Peters (LINK) [Mostly technical. For some non-technical thoughts on ergodicity, see Nassim Taleb's Skin in the Game, Blas Moros' summary of the book, or the recent Sanjay Bakshi presentation.]

Invest Like the Best Podcast: Vaughn Tan – Quality and Innovation (LINK)

Programming Biology: Read (r), Write (w), Execute (x) (LINK)

Monday, December 2, 2019


"I'm not saying there's no such thing as genius. But if you're trying to choose between two theories and one gives you an excuse for being lazy, the other one is probably right." --Paul Graham ("What You'll Wish You'd Known")

Overconfidence: An Autobiography - by Jason Zweig (LINK)

How to Read: Lots of Inputs and a Strong Filter - by Morgan Housel (LINK)

Survivorship Bias: The Tale of Forgotten Failures (LINK)

Yes, You Can Get Free Trading. But There’s Often a Catch. (LINK)

Startups and Uncertainty - by Jerry Neumann (LINK)

Blood and Soil in Narendra Modi’s India - by Dexter Filkins (LINK)

Masters in Business Podcast: Joe Ricketts Discusses Trade and Deregulation (LINK)

Starting Greatness Podcast: Sarah Leary of Nextdoor: “The Moment You Know You’ve Created Something Valuable” (LINK)

EconTalk Podcast: Gerd Gigerenzer on Gut Feelings (LINK)

COMPLEXITY Podcast: Olivia Judson on Major Energy Transitions in Evolutionary History (LINK)