"We’d love to have a business that could earn 20 percent on a hundred million now. And if we put a billion more in it, it would earn 20 percent more on that billion. But...those businesses are so rare. There are a lot of promises of those businesses, but we’ve practically never seen one. There’ve been a few. Most of the great businesses generate lots of money. They do not generate lots of opportunities to earn high returns on incremental capital." --Warren Buffett (2003)
A fantastic collection of book notes and excerpts [H/T Matt] (LINK)
Why Time Horizon Works - by Morgan Housel (LINK)
My View On: The Green New Deal - by Cullen Roche (LINK)
There's No Good Reason to Trust Blockchain Technology (LINK)
If Self-Discipline Feels Difficult, Then You’re Doing It Wrong - by Mark Manson (LINK)
Evan Osnos joins Dorothy Wickenden to discuss the new Republican and Democratic rhetoric about economic inequities, as the parties look toward the 2020 elections. (podcast) (LINK)