Money and Finance
From Zero to One:
- Graham And Dodd Quote
From Security Analysis (and maybe less relevant to a business with a wide moat): These examples, extreme as they are, suggest rather forcibly that the book value deserves at least a fleeting glance by the public before it buys or sells shares in a business...
- Peter Thiel Quote
From Zero to One (in this case, you can basically replace 'Monopolists' with 'Wide-Moat Businesses'): In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making...
- Threats From Foreign Competition
From the book The Investment Checklist by Michael Shearn. “A business is not threatened by foreign competition if its products cannot be shipped long distances, but if labor is a large component of the product cost, then the business will face threats...
- Days Of Easy Money Are Over For Fund Managers - By Alice Schroeder
Found via the Corner of Berkshire & Fairfax. As a profit-making endeavor, managing other people’s money is hard to beat. The business requires very little invested capital. There are no worries about getting paid in full when the bill comes due,...
- 2001 Jim Grant Article: Sometimes The Economy Needs A Setback
This 2001 article was written in regards to the Internet bubble, but it has some timeless insights about booms and busts. The weak economy and the multi-trillion-dollar drop in the value of stocks have raised a rash of recrimination. Never a people to...
Money and Finance
Peter Thiel quote
From Zero to One:
Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capitalism is premised on the accumulation of capital, but under perfect competition all profits get competed away. The lesson for entrepreneurs is clear: if you want to create and capture lasting value, don't build an undifferentiated commodity business.
- Graham And Dodd Quote
From Security Analysis (and maybe less relevant to a business with a wide moat): These examples, extreme as they are, suggest rather forcibly that the book value deserves at least a fleeting glance by the public before it buys or sells shares in a business...
- Peter Thiel Quote
From Zero to One (in this case, you can basically replace 'Monopolists' with 'Wide-Moat Businesses'): In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making...
- Threats From Foreign Competition
From the book The Investment Checklist by Michael Shearn. “A business is not threatened by foreign competition if its products cannot be shipped long distances, but if labor is a large component of the product cost, then the business will face threats...
- Days Of Easy Money Are Over For Fund Managers - By Alice Schroeder
Found via the Corner of Berkshire & Fairfax. As a profit-making endeavor, managing other people’s money is hard to beat. The business requires very little invested capital. There are no worries about getting paid in full when the bill comes due,...
- 2001 Jim Grant Article: Sometimes The Economy Needs A Setback
This 2001 article was written in regards to the Internet bubble, but it has some timeless insights about booms and busts. The weak economy and the multi-trillion-dollar drop in the value of stocks have raised a rash of recrimination. Never a people to...