Links - 03/30/2022
“I didn’t size my positions based on how much money I could make…. You’re able to take bigger positions in things you can’t lose much money in.” —Joel Greenblatt
“One of the reasons I can have a concentrated portfolio is because I understand what I own…. If you own six or eight great things, or at least great bets, that’s more comforting if you actually know what you own. If you don’t know what you own, if you don’t know how to value a business, you’re just going to react to the emotions, because you don’t actually understand what you own. But if you actually understand what you own, and the premise that you bought those things with is still intact, that’s actually the only way I think you can deal with the emotion, because you realize what you own is still good.” —Joel Greenblatt
Richer, Wiser, Happier Podcast: How To Win The Investing Game w/ Joel Greenblatt (LINK)
Brandes Letter: The Enduring Value of Graham Principles [H/T Linc] (LINK)
Sources of Enduring Business Success - by John Huber (LINK)
How Should Kids Learn to Invest? - by Jason Zweig (LINK)
BYD Is Navigating Speed Bumps, Not a Pile Up (LINK)
Crouching Tiger, Hidden Problems (LINK)
Russia's Wagner Group and the Ukraine War - by Peter Zeihan (LINK)
Kenneth Stanley: Why Greatness Cannot Be Planned: The Myth of the Objective (2015 video) [H/T @patrick_oshag] (LINK)
Related book: Why Greatness Cannot Be Planned
Invest Like the Best Podcast: David Rubenstein - Life, Leadership, and LBOs (LINK)
Business Breakdowns Podcast: McKinsey & Company: The First Management Consultants (LINK)
a16z Podcast: The Basics of Growth Marketing: User Acquisition (LINK)
WorkLife with Adam Grant (podcast): Leadership lessons from Zelenskyy and Putin (LINK)
Ben Franklin's World Podcast: 325 Woody Holton, Everyday People of the American Revolution (LINK)
The Rest Is History Podcast: 169. The Falklands War: Countdown to Invasion (LINK)
The Rest Is History Podcast: 170. The Falklands War: The Task Force Sails (LINK)
Key Takeaways from the book Atomic Habits (LINK)
Why Kids’ COVID-Vaccines Results Don’t Look Like Adults’ (LINK)
“He who has a why to live for can bear almost any how.” —Friedrich Nietzsche