"It’s hard to know just which companies can pass through the increases in costs that come from higher commodity prices. And it’s also important to know." --Charlie Munger (2005)
"We like buying businesses where we feel that there’s some untapped pricing power.... One of the questions we asked ourselves [when we bought See's], and we thought the answer was obvious, was: if we raised the price 10 cents a pound, would sales fall off a cliff? And of course, the answer, in our view at least, was that no, there was some untapped pricing power in the product. And it’s not a great business when you have to have a prayer session before you raise your prices a penny. You are in a tough business then. And I would say you can almost measure the strength of a business over time by the agony they go through in determining whether a price increase can be sustained." --Warren Buffett (2005)
Masters in Business Podcast: Michael Lewis Discusses the Culture of Finance (LINK)
Sam Walton Stole All His Best Ideas From This Guy [Sol Price] (video) (LINK)
Related books: 1) Sol Price Retail Revolutionary & Social Innovator; 2) Sam Walton: Made In America; 3) Intelligent Fanatics ProjectThe Brooklyn Investor blog on JP Morgan, and other things (LINK)
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Apple Plus - brand versus subscription - by Benedict Evans (LINK)
Does Ridesharing Increase Traffic Deaths? - by Russ Roberts (LINK)
Ford CTO Ken Washington on AI and self-driving | Recode Decode Live | Full interview (video) (LINK)
Exponent Podcast: YouTube and the End of Friction (LINK)
Here’s Why You’ve Never Heard Of the Most Successful People In The World - by Ryan Holiday (LINK)