Links - 01/19/2025
“Well, if you stop to think about it, business quality usually counts on something more than whether you cross the T in some old lease or something. And the human quality of the management who are going to stay are very important. And how are you going to check that by due diligence, you know?” —Charlie Munger (2016)
“I like to keep things moving. I like to show a certain amount of trust in the other person, because usually trust comes back to you. But the truth is there’s some bad apples out there, and spotting them is not going to come from looking at documents. You really have to size up whether that person who’s getting a lot of cash from you, how they’re going to behave in the future, because we’re counting on them.” —Warren Buffett (2016)
Virtual fireside chat and Q&A with value investor David Einhorn [free email registration required] (LINK)
The Lamentation of David Einhorn [H/T Linc] (LINK)
What You Don’t Know Could Sting Your Portfolio - by Jason Zweig (LINK)
The Merge: Episode 03 | Nassim Taleb | The architecture of the world we inhabit. (video) (LINK)
Jeffrey Gundlach’s Just Markets 2025 (video) (LINK)
Business Breakdowns Podcast: Gaming Consoles: Part 3: Nintendo (LINK)
Masters in Business Podcast: Jonathan Clements Explains Why Dying is Hard Work (LINK)
Extinct Human Species Lived in a Brutal Desert, Study Finds (LINK)
“The hardest arithmetic to master is that which enables us to count our blessings.” —Eric Hoffer
“Reflect upon your present blessings — of which every man has many — not on your past misfortunes, of which all men have some.” —Charles Dickens