Money and Finance
Jeremy Grantham's Favorite Book (LINK)
Scott Adams: The Human Mind (LINK)
Robert Sapolsky Explains the Biological Basis of Religiosity, and What It Shares in Common with OCD, Schizophrenia & Epilepsy (LINK)
Book of the day: Pay Attention to the Thin Cow
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Lawrence Cunningham presentation on his book, Berkshire Beyond Buffett: The Enduring Value of Values (video) (LINK) Sanjay Bakshi: IMPLICATIONS OF THE COMING CAPEX IN COAL (LINK) Latticework of Mental Models: Variable Reinforcement (LINK) An...
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Three brief company updates from our Boyles portfolio (LINK) Andrew Smithers: Bad information is bad for the economy (LINK) Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes (LINK) The decline of Hanergy Thin Film Solar Group Ltd....
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Elizabeth Holmes: One woman’s drive to upend medical testing (LINK) Related links: Elizabeth Holmes at TEDMED 2014 (video), Elizabeth Holmes interview at TechCrunch Disrupt San Francisco ’14Atul Gawande's 2014 Reith Lectures...
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Atul Gawande on Charlie Rose discussing his latest book, Being Mortal (LINK) Talks at Google: Steve J. Martin discussing the book The small BIG: small changes that spark big influence (video) [H/T ValueWalk] (LINK) Benedict Evans: Mobile Is Eating...
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Greenlight Capital Q2 Letter (LINK) Steve Romick's Q2 Letter (LINK) Jim Chanos on Charlie Rose (LINK) Lawrence Cunningham on whether or not Berkshire, post Buffett, should go private [H/T Linc] (LINK) Related book: Berkshire Beyond Buffett: The Enduring...
Money and Finance
Links
Jeremy Grantham's Favorite Book (LINK)
Related book: The End of Normal: The Great Crisis and the Future of GrowthDeal Tips From Buffett and Berkshire’s Other Managers (LINK)
Related book: Berkshire Beyond Buffett: The Enduring Value of ValuesCognitive Constraints on Valuing Annuities [H/T @jasonzweigwsj] (LINK)
This paper investigates consumers' difficulty in valuing life annuities. Using a survey-based experiment, we show that the prices at which people are willing to buy annuities are substantially below the prices at which they are willing to sell them. This finding is not a simple endowment effect, because it prevails even when the annuity and lump-sum option are both presented as deviations from their own endowments. We also find that buy values are negatively correlated with sell values, as those individuals who express the highest sell values tend to also express the lowest buy values. This sell-buy valuation spread is negatively correlated with cognition; that is, the spread is larger for those with less education, weaker numerical abilities, and lower levels of financial literacy. Our evidence contribute to the emerging literature on heterogeneity in financial decision-making abilities. Importantly, it implies that many people lack the cognitive skills required to manage their retirement asset decumulation decisions optimally.Paul Graham: The Fatal Pinch (LINK)
Scott Adams: The Human Mind (LINK)
Robert Sapolsky Explains the Biological Basis of Religiosity, and What It Shares in Common with OCD, Schizophrenia & Epilepsy (LINK)
Book of the day: Pay Attention to the Thin Cow
- Links
Lawrence Cunningham presentation on his book, Berkshire Beyond Buffett: The Enduring Value of Values (video) (LINK) Sanjay Bakshi: IMPLICATIONS OF THE COMING CAPEX IN COAL (LINK) Latticework of Mental Models: Variable Reinforcement (LINK) An...
- Links
Three brief company updates from our Boyles portfolio (LINK) Andrew Smithers: Bad information is bad for the economy (LINK) Chinese Solar Maker Plunges, Losing Nearly $19 Billion in 24 Minutes (LINK) The decline of Hanergy Thin Film Solar Group Ltd....
- Links
Elizabeth Holmes: One woman’s drive to upend medical testing (LINK) Related links: Elizabeth Holmes at TEDMED 2014 (video), Elizabeth Holmes interview at TechCrunch Disrupt San Francisco ’14Atul Gawande's 2014 Reith Lectures...
- Links
Atul Gawande on Charlie Rose discussing his latest book, Being Mortal (LINK) Talks at Google: Steve J. Martin discussing the book The small BIG: small changes that spark big influence (video) [H/T ValueWalk] (LINK) Benedict Evans: Mobile Is Eating...
- Links
Greenlight Capital Q2 Letter (LINK) Steve Romick's Q2 Letter (LINK) Jim Chanos on Charlie Rose (LINK) Lawrence Cunningham on whether or not Berkshire, post Buffett, should go private [H/T Linc] (LINK) Related book: Berkshire Beyond Buffett: The Enduring...