Links - 09/16/2024
“It is said that bull markets always climb a ‘wall of worry’ as the cautious are left behind while the intrepid get ahead and the reckless lead the pack. But the opposite may also be true—bear markets must inevitably descend a mountain of overconfidence and hubris…. It is especially important for investors to maintain their bearings in periods when others do not. To do so in even the most challenging moments, investors must have been prepared for adversity all along. By the time you realize you were overexposed to risk, the market price of what you own may have already plummeted, and by then it’s too late to affordably arrange hedges or find mitigants.” —Seth Klarman
Founders Podcast: #365 Nick Sleep’s Letters: The Full Collection of the Nomad Investment Partnership Letters to Partners (LINK)
Related link: Nomad Investment Partnership Letters [There is also a link to these and other recommended reading on our Resources page.]
What’s Left to Be ETF’d? - by Jason Zweig (LINK)
Memo to Janet Yellen: Please Do the Right Thing for Pittsburgh – and for the U.S. - by Roger Lowenstein (LINK)
The Investor’s Podcast: TIP659: Hermès Stock Deep Dive w/ Shree Viswanathan (Video and Transcript, Podcast)
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GIC and Bridgewater Identify the Major Issues Facing Investors in the Years Ahead (Video, Transcript)
The Value Perspective Podcast: William Green (part 1) (LINK)
The Meb Faber Show Podcast: Rob Arnott on The Upside of Getting Dumped: Investing in Index Deletions | #549 (LINK)
We the People Podcast: ‘The Highest Calling’: A Conversation With David Rubenstein on the American Presidency (LINK)
Marty Makary wrote a new book, Blind Spots: When Medicine Gets It Wrong, and What It Means for Our Health, and was on both the EconTalk Podcast as well as The Peter Attia Drive Podcast discussing it.
The Gray Area Podcast: Yuval Noah Harari on the eclipsing of human intelligence (LINK)
People I (Mostly) Admire Podcast: 140. How to Breathe Better (LINK)
Short History Of... Podcast: The Kremlin (LINK)
What John Stuart Mill Knew About Happiness (LINK)
See 15 Stunning Images From the Ocean Photographer of the Year Awards [H/T Linc] (LINK)
“People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to.” —George Allen, Sr.
“Success consists of going from failure to failure without loss of enthusiasm.” —Winston Churchill