"The speed of information really doesn’t make any difference to us. It’s the processing and finally coming to some judgment that actually has some utility...it’s a judgment about the price of a business or a part of a business, a security, versus what it’s essentially worth. And none of that involves anything to do, really, with quick information. It involves getting good information.... We’re not looking for needles in haystacks or anything of the sort...We like haystacks, not needles, basically. And we want it to shout at us." --Warren Buffett (1994)
"I’ve said in investing...that there’s more than one way to get to heaven. And there isn’t a true religion in this, but there’s some very useful religions." --Warren Buffett (1994)
Spies, Crime, and Lightning Strikes: The Value of Probabilistic Thinking (LINK)
Two Berkshire Takeaways and Thoughts on Competitive Markets - by John Huber (LINK)
The Moat Map - by Ben Thompson (LINK)
Stop Reading So Much - by Sean Iddings (LINK)
Invest Like the Best Podcast: Tren Griffin – Pulling the Thread (LINK)
Grant's Podcast: Loan sharks (LINK)
Adam Cohen, founder of Covenant Review, joins Grant’s for an insightful overview of our loosey-goosey credit market.27 Incredibly Useful Things You Didn’t Know Chrome Could Do (LINK)
Best Evidence Yet For Water Plumes Erupting Off Europa (LINK)
The Hole Where All The Success Leaks Out (LINK)
Book of the day [H/T Jim Chanos]: A World Lit Only by Fire - by William Manchester