"Charlie and I don’t think about the market. And Ben [Graham] didn’t very much. I think he made a mistake to occasionally try and place a value on it. We look at individual businesses. And we don’t think of stocks as little items that wiggle around on the paper and that have charts attached to them. We think of them as parts of businesses.... I know of no one that has been successful at...[making] a lot of money predicting the actions of the market itself. I know a lot of people who have done well picking businesses and buying them at sensible prices. And that’s what we’re hoping to do." --Warren Buffett (1999)
What Exactly Happened to David Einhorn? (LINK)
The Hidden Risk of Passive and Index Hugging - by Rick Bookstaber (LINK)
Exponent Podcast: Platforms Versus Aggregators (LINK)
Eric Topol reviews Bad Blood, John Carreyrou's book on the Theranos saga (LINK)
Scott Adams talks to Naval Ravikant (video) (LINK)
How the Enlightenment Ends - by Henry A. Kissinger (LINK)
How Tom Wolfe Changed My Life - by Scott Kelly (LINK)
Related book: The Right Stuff
"Why — that’s the most important question of all. And it doesn’t apply just to investment. It applies to the whole human experience. If you want to get smart, the question you’ve got to keep asking is: Why? Why? Why? Why? And you have to relate the answers to a structure of deep theory. And you’ve got to know the main theories. And it’s mildly laborious, but it’s also a lot of fun." --Charlie Munger (1999)