"It is true that in the packaged goods industry, volume trends for everybody — whether they’re fat or lean in their operation — volume trends are not good. And the test will be over time — you know, three, five years — are the operations which have had their costs cut, do they do poor, in terms of volume, than the ones, that in my judgment, look very fat?" --Warren Buffett (2016)
Howard Marks on Investing In Overpriced Markets (a video excerpt from his recent Real Vision interview) [H/T Linc] (LINK)
“She Never Looks Back”: Inside Elizabeth Holmes's Chilling Final Months at Theranos (LINK)
Warren Buffett Can’t Find Anything Big to Buy ($) (LINK)
Kraft Heinz Divulges SEC Investigation, Swings to Loss ($) (LINK)
Deutsche Bank Lost $1.6 Billion on a Bond Bet ($) (LINK)
One of the banking industry’s biggest soured bets since the financial crisis involved a complex municipal-bond investment. Warren Buffett was enmeshed in the deal.
A Blinders Off View Of The Automotive Sector - by Daniel Ruiz (LINK)
Brexit: The End of the Beginning - by Peter Zeihan (LINK)
Brexit: The End of the Beginning - by Peter Zeihan (LINK)
Dalio's "The Big Debt Crisis"....the FSB Report & Financial War Games (LINK)
Different Kinds of Stupid - by Morgan Housel (LINK)
Edges That Won’t Go Away - by Ben Carlson (LINK)
Cultivating the State of Flow (LINK)
American Innovations Podcast: Coca-Cola | The Cocaine Clinician | 1 (LINK)
Freakonomics Radio: 368. Where Do Good Ideas Come From? (LINK)
Check out these amazing shots of the Anak Krakatoa caldera before and after its collapse in December 2018 (LINK)
Who’s the Cutest Little Tyrannosaur? Is It You? - by Ed Yong (LINK)
"Men do not fail commonly for want of knowledge, but for want of prudence to give wisdom the preference. What we need to know in any case is very simple." --Henry David Thoreau [H/T Brain Pickings]