Josh Waitzkin with Adam Robinson – Alan Howard Foundation / JW3 Speaker Series (Full Video)

Josh Waitzkin with Adam Robinson – Alan Howard Foundation / JW3 Speaker Series

Links

"A new type of thinking is essential if mankind is to survive and move toward higher levels.... Past thinking and methods did not prevent world wars. Future thinking must prevent wars." -Albert Einstein

Tom Russo on WealthTrack (video) [H/T ValueWalk] (LINK)

Ed Thorp talks with Barry Ritholtz on the Masters in Business podcast (LINK)

Related book: A Man for All Markets

Grant’s Podcast: Hits and misses (LINK)

How I Built This podcast -- Aden + Anais: Raegan Moya-Jones (LINK)

FT Alphachat podcast: Tim Harford talks to Cardiff Garcia about his book Fifty Inventions That Shaped the Modern Economy (LINK)

Amazon Prime and other Subscription Businesses: How do you Value a Subscriber? - by Tren Griffin (LINK)

Greenlight Capital's Q2 Letter (LINK)

A Bird in the Hand is Worth…Two Marshmallows? - by Frank Martin (LINK)

GMO White Paper: Revisiting the Traditional Emerging Market Equities Allocation Framework (LINK)

From $2 Billion to Zero: A Private-Equity Fund Goes Bust in the Oil Patch ($) [H/T @williamgreen72] (LINK)

Tencent Dominates in China. Next Challenge Is Rest of the World [H/T @BaseHitInvestor] (LINK)

Counterintuitive Behavior of Social Systems - by Jay Wright Forrester (1971 paper) [H/T Adam Robinson] (LINK)

When Slower Communication Enables Faster Growth (LINK)

A History of Japan, in 9 minutes (video) [H/T Recomendo] (LINK)

Why fast birds, fish and animals are never too small or big (LINK)

What Would It Take to Completely Sterilize the Earth? - by Ed Yong (LINK)

Books of the day:

A Mind at Play: How Claude Shannon Invented the Information Age [Released tomorrow]

Crash Early, Crash Often [Kindle book]

Wishcraft: How to Get What You Really Want

"If you feel a negative emotion, including fear, your attention is on the wrong place.  Your attention should be focused on one of two things: the task at hand, or other people." -Adam Robinson (Source)

Links

Adam Robinson on Tim Ferriss' podcast: Lessons from Warren Buffett, Bobby Fischer, and Other Outliers (LINK)

Related previous posts: 1) Things that don't make sense...; 2) Having time to think... [They start the podcast above off with the Buffett calendar story.]

How to Review a Proxy Statement (LINK)

Trump Moves to Undo Dodd-Frank Law (LINK)

Discount broker shares tumble on price war fears (LINK)

Amazon now has more than 341K employees after adding 110K people in 2016 alone (LINK)

The investor’s dilemma: Why investing in lower cost innovations is difficult in healthcare (LINK)

Lunch with the FT: Ed Thorp: the man who beat the casinos, then the markets (LINK)

Related book: A Man for All Markets

Exponent Podcast: Episode 103 — Dull Knives Don’t Cut (LINK)

Ben and James discuss what kind of politicians and products cut through in the Internet age, and why they are profoundly different than what worked before.

Jack Schwager on the Macro Voices podcast (audio) (LINK)

Related book: A Complete Guide to the Futures Market

FT Alphachat podcast: How the world was shaped by goofing off (LINK)

Related book: Wonderland: How Play Made the Modern World

Dan Dennett talks about his new book, and other things (video) (LINK)

Related book (released next week): From Bacteria to Bach and Back: The Evolution of Minds - by Daniel C. Dennett 

World’s most endangered marine mammal has 30 individuals left (LINK)

Things that don't make sense...

There are a bunch of great quotes and ideas in the latest Tim Ferriss podcast ("Becoming the Best Version of You"). Below are a couple that I wanted to make sure to save for future reference from Adam Robinson (slightly edited for clarity and emphasis):

First, on things that don't make sense:

One of the key things to investing, and I think this is a life truism, is to be aware when you hear a voice in your head that says, and you usually squint your eyes or you'll hear someone say the following words: that doesn't make sense. And that's always a sign of something really powerful.  

...I was talking to Sam Zell, a great real estate investor, and all he does, he reads the newspaper and all he's looking for are things that don't make sense. So I said, "Give me an example, Sam." And he says, "Okay. I'm reading the newspaper and I see that there's a Starbucks that's just opened up (this is like 15-20 years ago) in Mongolia." And he thinks to himself, "Mongolia? I thought they drink tea. What's with that?" He's so curious about this because it makes no sense that he takes his private jet, flies to Mongolia, and he discovers that they've started mining. This was the beginning of the big China infrastructure build. And the only reason he knew about it was that "it didn't make any sense."  

So I'm telling you that's the key thing. People stumble on these ideas and they dismiss them. They go, "Eh, that doesn't make any sense." But I'm telling you that's where the gold mine is; things that don't make sense. That's all I pay attention to now.

And on one's career and character:

One of my favorite quotes was by one of my heroes, Juan Belmonte.... He said, "No life worthy of the name consists of anything more than the continual series of struggles to develop one's character through the medium of whatever one has chosen as a career." Which is fascinating because now your career becomes re-framed as merely something with which you're going to develop your character.