Edward Chancellor: Why I’m cheering gold’s fall – and how to profit from it ($) (LINK) [I'm not a subscriber and don't have access to the article, but since it may be timely and since it is from Ed Chancellor, I thought it was worth mentioning.]
John Maynard Keynes and Currency Speculation in the Interwar Years [H/T @jasonzweigwsj] (LINK)
Summary and transcript of Sam Zell's appearance on Bloomberg yesterday (LINK) [I liked his quote about "...creating a competitive advantage by virtue of your entry price." This was also good: "I've sold real estate based on cap rates, I don't buy real estate based on cap rates. So I mean there's nothing more relevant than replacement cost. And so you can generate values that are way above replacement cost by virtue of very low cap rates. And that's a sucker's bet."]
An excerpt from Matt Ridley's latest book, The Evolution of Everything: How New Ideas Emerge (LINK)
If you sign up for Blake Boles' newsletter, you'll get links to two of his books sent to you for free, Better Than College in PDF format, and The Art of Self-Directed Learning in audio format, which looks interesting (LINK)
Book of the day: The Life and Work of George Boole
Quotes I'm thinking about today:
“At Baupost, we constantly ask: 'What should we work on today?' We keep calling and talking. We keep gathering information. You never have perfect information. So you work, work and work. Sometimes we thumb through Value Line. How you fill your inbox is very important.” –Seth Klarman
“The difference between successful people and really successful people is that really successful people say no to almost everything.” –Warren Buffett