Links - 04/10/2023
“The one thing I will tell you is the worst investment you can have is cash. Everybody is talking about cash being king and all that sort of thing. Cash is going to become worth less over time. But good businesses are going to become worth more over time. And you don’t want to pay too much for them so you have to have some discipline about what you pay. But the thing to do is find a good business and stick with it. We always keep enough cash around so I feel very comfortable and don’t worry about sleeping at night. But it’s not because I like cash as an investment. Cash is a bad investment over time. But you always want to have enough so that nobody else can determine your future essentially.” —Warren Buffett
Berkshire Hathaway launches new era of Pilot Company ownership with CEO change [H/T Linc] (LINK)
Texas Californias Its Energy Grid and Buffett May Benefit [H/T Linc] (LINK)
Mohnish Pabrai's Chat with students at the Rotman School of Management on March 3, 2023 (video) (LINK)
The World's Simplest Investing Edge - by Steve Clapham (LINK)
Digging Into a $344 Billion Investing Mystery - by Jason Zweig (LINK)
At FTX, Multimillion-Dollar Expenses Were Approved by Emoji (LINK)
Primer: A Deposit’s Life - by Joseph Wang (LINK)
Founders Podcast: #298 I had lunch with Sam Zell (LINK)
The Investor’s Podcast: TIP542: The Crisis is Bigger Than Banks w/ Jeremy Grantham (LINK)
The Investor’s Podcast: TIP543: 100 Baggers: Stocks that Return 100-1 w/ Chris Mayer (LINK)
Masters in Business Podcast: Aswath Damodaran on the Future of Business Education (LINK)
Making Sense Podcast: #315 — The Great Derangement [w/ Tim Urban] (LINK)
The Rest Is History Podcast: 320. Hundred Years’ War: The Black Prince (LINK)
The Daily Stoic Podcast: Seneca on Being (LINK)
Neanderthals and Us: We’re More Alike Than Once Thought (LINK)
“Quality is more important than quantity. One home run is much better than two doubles.” —Steve Jobs