"...in my view, risk is primarily the likelihood of permanent capital loss. But there’s also such a thing as opportunity risk: the likelihood of missing out on potential gains. Put the two together and we see that risk is the possibility of things not going the way we want." --Howard Marks
Investing is Hard - by Ian Cassel (video presentation) (LINK)
Fall 2018 Edition of Graham & Doddsville (LINK)
The students of Columbia Business School just released the Fall 2018 edition of Graham & Doddsville. It features members of Tweedy, Browne’s investment committee, Scott Miller of Greenhaven Road Capital and Steve Tusa of JP Morgan. It also includes 2 stock pitches from students of Columbia’s Value Investing program.You’re a Bad Investor? That Can Be Good - by Jason Zweig ($) (LINK)
James Grant on WealthTrack discussing Why Interest Rates Matter (video) (LINK)
Masters of Scale Podcast: Danny Meyer — When (and how) to ignore conventional wisdom (LINK)
Matt Ridley reviews the book Blueprint: How DNA Makes Us Who We Are by Robert Plomin (LINK)