Links - 04/17/2023
“Surviving on average is a useless concept; you have to be able to survive all the time, including – no, especially – in bad times.” —Howard Marks
“Nature and history do not agree with our conceptions of good and bad; they define good as that which survives, and bad as that which goes under.” —Will and Ariel Durant (“The Lessons of History”)
“The fundamental principle of auto racing is that to finish first, you must first finish. That dictum is equally applicable to business and guides our every action at Berkshire.” —Warren Buffett (2010 Shareholder Letter)
Howard Marks Memo: “Lessons from Silicon Valley Bank” (LINK)
Sequoia Fund - Q1 2023 - Portfolio Review (video) (LINK)
Trevor Magyar, Partner and Investment Committee member, discusses investment performance for Q1 2023, our current thinking about Charles Schwab Corp amid the banking turmoil, a purchase and sale of Bank of America, and decisions to trim Meta Platforms and Liberty Media.
“60 Minutes”: Is artificial intelligence advancing too quickly? What AI leaders at Google say (video) (LINK)
AI, NIL, and Zero Trust Authenticity - by Ben Thompson (LINK)
Want to Beat the Stock Market? Avoid the Cost of ‘Being Human’ - by Jason Zweig (LINK)
What Really Happened in 1971... - by Michael W. Green (LINK)
A flawed but useful economic model for a bleak age - by Ed Chancellor (LINK)
So You Want to Launch a Hedge Fund? (LINK)
Chart of the Week: Commercial Real Estate Collapse (LINK)
Richer, Wiser, Happier Podcast: Patient Capital W/ Samantha McLemore (Video and Transcript, Podcast)
This Week in Intelligent Investing Podcast: Overconfidence, Under-Reaction, and Warren Buffett’s Investments (LINK)
Value Hive Podcast: Judd Arnold: Seeking Convexity in Offshore Energy (LINK)
Founders Podcast: #299 A new book on Steve Jobs! Make Something Wonderful: Steve Jobs in his own words (LINK)
Capital Allocators Podcast – Inside the Institutional Investment Industry: Mario Giannini & John Toomey – Private Equity Panel (LINK)
Another Podcast: Metaverse and crypto - beyond the BS (LINK)
Hidden Forces Podcast: Disrupting the Battlefield: How Venture Capital is Changing Modern Warfare | Josh Wolfe (LINK)
The Learning Leader Show Podcast: 522: Kevin Kelly (LINK)
Related book: Excellent Advice for Living: Wisdom I Wish I'd Known Earlier
StarTalk Radio Podcast: Medicine 3.0: Extending Human Lifespan with Dr. Peter Attia (LINK)
Related book: Outlive: The Science and Art of Longevity
The Rest Is History Podcast: 322. East Germany: Life Behind the Iron Curtain (LINK)
Short History Of... Podcast: The Wild West (LINK)
“It is not doing the thing we like to do, but liking the thing we have to do, that makes life blessed.” —Johann Wolfgang von Goethe