Links - 06/30/2024
“Our goal isn’t to find good assets, but good buys. Thus, it’s not what you buy; it’s what you pay for it. A high-quality asset can constitute a good or bad buy, and a low-quality asset can constitute a good or bad buy. The tendency to mistake objective merit for investment opportunity, and the failure to distinguish between good assets and good buys, get most investors into trouble.” —Howard Marks
Warren Buffett Gives Us a Preview of His Will (LINK)
Larry Cunningham on WealthTrack (Part 2): Berkshire Beyond Buffett (video) (LINK)
Inside the Head of Howard Marks (LINK)
Henry Singleton & Teledyne [H/T Linc] (LINK)
The Last 72 Hours of Archegos (LINK)
The Ben & Marc Show: Marc Andreessen on Building Netscape & the Birth of the Browser (Video, Podcast)
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Aspen Ideas Festival: The Disruptors: Sam Altman and Brian Chesky in conversation with Lester Holt (video) (LINK)
Aspen Ideas Festival: The Iconoclast [Peter Thiel] (video) (LINK)
Value Investing with Legends Podcast: Anu Bradford - EU Influence, Big Tech Challenges, and the Future of Digital Governance (LINK)
Money Stuff Podcast: Just Keep Bidding (LINK)
Founders Podcast: #354 Sam Walton: The Inside Story of America’s Richest Man (LINK)
Short History Of... Podcast: Princess Diana (LINK)
“Knowledge is the antidote to fear.” —Ralph Waldo Emerson
“The child is as much in danger from a staircase, or the fire-grate, or a bath-tub, or a cat, as the soldier from a cannon or an ambush. Each surmounts the fear as fast as he precisely understands the peril and learns the means of resistance. Each is liable to panic, which is, exactly, the terror of ignorance surrendered to the imagination. Knowledge is the encourager, knowledge that takes fear out of the heart, knowledge and use, which is knowledge in practice. They can conquer who believe they can. It is he who has done the deed once who does not shrink from attempting it again.” —Ralph Waldo Emerson
“Courage consists in equality to the problem before us. The school-boy is daunted before his tutor by a question of arithmetic, because he does not yet command the simple steps of the solution which the boy beside him has mastered. These once seen, he is as cool as Archimedes, and cheerily proceeds a step farther. Courage is equality to the problem, in affairs, in science, in trade, in council, or in action; consists in the conviction that the agents with whom you contend are not superior in strength of resources or spirit to you. The general must stimulate the mind of his soldiers to the perception that they are men, and the enemy is no more. Knowledge, yes; for the danger of dangers is illusion.” —Ralph Waldo Emerson