Links - 02/13/2024
“Markets are inefficient because of human nature—innate, deep-rooted, permanent. People don’t consciously choose to invest with emotion—they simply can’t help it…. In short, we believe market efficiency is a fine academic theory that is unlikely ever to bear meaningful resemblance to the real world of investing.” —Seth Klarman
Turtle Creek Asset Management Inc. - 2023 Year in Review (video) [H/T @iancassel] (LINK)
Passive Capital Flows Are Starting To Reverse - This Will Change Everything | Michael Green (video) (LINK)
Why Not 100% Equities - by Cliff Asness (LINK)
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Founders Podcast: #338 Monty Moncrief Texas Oil Billionaire (LINK)
The Journal. Podcast: The Spectacular Fall of 23andMe (LINK)
The Tim Ferriss Show Podcast: #721: Master Negotiator William Ury (LINK)
Great Apes Know Just How Much to Annoy One Another (LINK)
The Republic: Books I and II (LINK)
“The ultimate result of shielding men from the effects of folly, is to fill the world with fools.” —Herbert Spencer