Sunday, February 2, 2020


"One can see the investment universe as full of certainties, or one can see it as replete with probabilities. Those who reflect and hesitate make far less in a bull market, but those who never question themselves get obliterated when the bear market comes. In investing, certainty can be a serious problem, because it causes one not to reassess flawed conclusions. Nobody can know all the facts. Instead, one must rely on shreds of evidence, kernels of truth, and what one suspects to be true but cannot prove." --Seth Klarman

Masters in Business Podcast: Christopher Davis Discusses Smart Value Investing (LINK)

The Stock Got Crushed. Then the ETFs Had to Sell. - by Jason Zweig ($) (LINK)

Ray Dalio Is Still Driving His $160 Billion Hedge-Fund Machine ($) (LINK)

Useful Laws of the Land - by Morgan Housel (LINK)

Tankers Are Tanking - by Harris Kupperman (LINK)

An anonymous, detailed short thesis on Luckin Coffee [H/T @muddywatersre] (LINK)

Exponent Podcast: 180 — It’s Been a Week (LINK)

The Young IPA Podcast Episode 143: We Just Had The Best Decade In Human History with Matt Ridley (video) (LINK)

Hardcore History Addendum Podcast: EP9 Glimpses of Olympias (LINK)

The Sun, up close and very personal - by Phil Plait (LINK)