Links - 04/15/2025
“If you look to the markets for a report card, owning a stock that declines every day will make you feel like a failure. But if you remember that you own a fractional interest in a business and that every day you are able to buy in at a greater discount to underlying value, you might just be able to maintain a cheerful disposition.” —Seth Klarman
Michael Steinhardt - In His Own Words (LINK)
Bear Market Anatomy – the path and shape of the bear market [H/T @wmthomson22] (LINK)
David Zaslav’s Shaky Hollywood Empire - by Michael Wolff (LINK) [Wolff was also on The Town Podcast discussing the article.]
Flexport’s Third Act: Winning in a Broken Global Trade System (video) (LINK)
Costco CEO Breaks Down How a Kirkland Product Gets Made | WSJ (video) (LINK)
Invest Like the Best Podcast: Neil Mehta - Finding Future S&P 500 Companies (Video, Podcast)
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Founders Podcast: #385 Michael Dell (LINK)
The Generalist Podcast: Shrinking the Gap Between Sci-Fi and Sci-Fact: Josh Wolfe (Co-Founder of Lux Capital) (Video, Podcast)
The Knowledge Project Podcast: #224 Bret Taylor: A Vision for AI’s Next Frontier (Video, Podcast)
Odd Lots Podcast: Javier Blas on China’s Rare Earths Dominance (LINK)
It Took a Century to Find This Colossal Squid (LINK)
“The strength of our persuasions is no evidence at all of their own rectitude: crooked things may be as stiff and inflexible as straight: and men may be as positive and peremptory in error as in truth.” —John Locke