Links - 04/30/2025
“Foreseeing second-order consequences is difficult, and particularly so for politicians and regulators. Not only are they often unknowable, but also they exist in the long term, whereas people in politics are governed by short-term considerations – like getting reelected…. There’s little I’m sure of, but I do believe that if the government establishes rules and procedures in areas that should be the province of the market, (a) there will be unintended consequences, and (b) the rules will be much harder to correct than they were to enact.” —Howard Marks (“Quo Vadis?” — July 26, 2002)
Chris Bloomstran Speaks to University of Missouri Finance Students (video) (LINK)
Buffett’s ‘Woodstock for Capitalists’ Draws Admirers From Around the Globe (LINK)
Off the Hook - by Eric Cinnamond (LINK)
Never Sell Podcast: Episode 5 - Cadence and Synopsys (LINK)
Origin Stories Podcast: The Shanidar Cave Neanderthals (LINK)
Two Theories of Consciousness Faced Off. The Ref Took a Beating. (LINK)
“Leadership is based on inspiration, not domination; on cooperation, not intimidation.” —William Arthur Ward
“Jealousy and envy are powerful emotions and, if acted upon, can cause serious problems. Leaders must always watch out for them. A jealous commander may behave in ways that inhibit and soon paralyze his or her subordinates, who eventually turn off and tune out. The antidote lies in trying to make the people who work for you feel needed and highly valued. Help them believe in that wonderful old truism ‘A rising tide lifts all boats.’ With perhaps a few exceptions, every organization’s success is a collective achievement.” —D. Michael Abrashoff (“It’s Your Ship”)