Money and Finance

Links

Edward Chancellor: Why I’m cheering gold’s fall – and how to profit from it ($) (LINK) [I'm not a subscriber and don't have access to the article, but since it may be timely and since it is from Ed Chancellor, I thought it was worth mentioning.]

John Maynard Keynes and Currency Speculation in the Interwar Years [H/T @jasonzweigwsj] (LINK)

Summary and transcript of Sam Zell's appearance on Bloomberg yesterday (LINK) [I liked his quote about "...creating a competitive advantage by virtue of your entry price." This was also good: "I've sold real estate based on cap rates, I don't buy real estate based on cap rates. So I mean there's nothing more relevant than replacement cost. And so you can generate values that are way above replacement cost by virtue of very low cap rates. And that's a sucker's bet."]

An excerpt from Matt Ridley's latest book, The Evolution of Everything: How New Ideas Emerge (LINK)

If you sign up for Blake Boles' newsletter, you'll get links to two of his books sent to you for free, Better Than College in PDF format, and The Art of Self-Directed Learning in audio format, which looks interesting (LINK)

Book of the day: The Life and Work of George Boole

Quotes I'm thinking about today:

“At Baupost, we constantly ask: 'What should we work on today?' We keep calling and talking. We keep gathering information. You never have perfect information. So you work, work and work. Sometimes we thumb through Value Line. How you fill your inbox is very important.” –Seth Klarman

“The difference between successful people and really successful people is that really successful people say no to almost everything.” –Warren Buffett

- Links
Tim Cook's letter about The Need for Encryption (LINK) Aswath Damodaran: The Disruptive Duo: Amazon and Netflix! (LINK) Matt Ridley's Google Talk about his latest book, The Evolution of Everything: How New Ideas Emerge (LINK) Brain...

- Links
Warren Buffett on CNBC... Links to videos: Warren Buffett: Bought IBM in 1st & 3rd quarter Warren Buffett: Never go below $20B cash Warren Buffett talks Phillips 66 stake Buffett: BofA's Moynihan should be CEO & Chair Warren...

- Links
Always a great time to revisit this: Seth Klarman on the Painful Decision to Hold Cash [H/T @trengriffin] (LINK) Latticework of Mental Models: Moral Hazard (LINK) Meet Mark Spitznagel, the Investor Behind Universa’s Big Gain [H/T Jim] (LINK)...

- A Few Quotes On Achieving Success...
“The difference between successful people and really successful people is that really successful people say no to almost everything.” –Warren Buffett “Whenever you do any one thing intensely over a period of time you have to give up other lives...

- Links
An old (July 1999) article on Warren Buffett worth reviewing: The Warren Buffett You Don't Know [H/T Linc] (LINK) ValueWalk with another excerpt from Arlington Value's annual letter (LINK) Bust A Move: Tap Dancing to Work (LINK) This...

Money and Finance