Links - 01/31/2022
“More money has probably been lost by investors holding a stock they really did not want until they could ‘at least come out even’ than from any other single reason. If to these actual losses are added the profits that might have been made through the proper reinvestment of these funds if such reinvestment had been made when the mistake was first realized, the cost of self-indulgence becomes truly tremendous.” —Philip A. Fisher
The Two Things to Do When the Stock Market Gets Crazy - by Jason Zweig (LINK)
Jake Taylor’s January 2022 Letter to Clients (LINK)
RBA quarterly webinar replay with Rich Bernstein (video) (LINK)
Where Are All the Value Investors When It Comes to Cannabis? - by Aaron Edelheit (LINK)
The Economics of Data Businesses (LINK)
A study of Satya Nadella (LINK)
China Evergrande seeks legal recourse after creditor Oaktree seized indebted developer’s Versailles-like project in Yuen Long (LINK)
Natural Gas and Ukraine - by Peter Zeihan (LINK)
Who Really Got Rich From the GameStop Revolution? - by Spencer Jakab (LINK)
Related book: The Revolution That Wasn't
This Week in Intelligent Investing Podcast: SPECIAL: Spencer Jakab on The Revolution That Wasn’t (LINK)
The One Percent Show (podcast): Ep. 14 - Arnold Van Den Berg on Constructing a Good Life and the Power of Subconscious Mind (LINK)
What Got You There with Sean DeLaney: #284 Sebastian Mallaby - The Mindsets of Venture Capitals All-Time Greats (LINK)
Related book: The Power Law: Venture Capital and the Making of the New Future
The Rob Vinall Podcast: RV Capital’s 2021 Co-Investor Letter (LINK)
Odd Lots Podcast: China Is Changing Its Coal Use, and It Affects the Whole World (LINK)
Dan Carlin's Hardcore History: Addendum Podcast: EP18 Iranian Interconnections (LINK)
The Rest Is History Podcast: 145. Babylon (LINK)
How Beijing Is Playing the Olympics - by Evan Osnos (LINK)
Sometimes Winning Means Knowing When to Quit (LINK)
What Will the Next Variant Look Like? (LINK)
“Closely related to our preference for compelling narratives is the human tendency for self-deception. Since humans are adept at detecting the ‘tells’ that others are lying, the ability to deceive oneself eliminates the tells, and so makes one a better deceiver.” —William J. Bernstein (“The Delusions Of Crowds”)