Links - 05/12/2025
“The single most valuable investment asset you will ever have is your own mind. If you let other people do your thinking for you, you’ve traded away your greatest asset—and made your emotions and your results captive to the whims of millions of strangers. Great investors like Graham, Buffett, and Munger don’t try to step in with the crowd; they step away. The approval of others means nothing to them. Nor should it to you.” —Jason Zweig (“The Intelligent Investor, Third Edition”)
There will only be one Warren Buffett - by John Garrett (LINK)
3 ½ days in Omaha - by Steve Clapham (LINK)
Omaha Notes and The Right Amount of Research - by Todd Wenning (LINK)
My First Million Podcast: Mohnish Pabrai (Video, Podcast)
Milken Global Conference 2025: A Conversation with Citadel CEO Ken Griffin (video) (LINK)
Stripe Sessions: A conversation with Mark Zuckerberg (video) (LINK)
Stripe Sessions: A conversation with Jony Ive (video) (LINK)
A Few Questions - by Morgan Housel (LINK)
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Business Breakdowns Podcast: IBKR: Margin Masters (LINK)
Odd Lots Podcast: A US Clothing Brand On the Existential Threat From the Tariffs (LINK)
How I Built This Podcast: Substack: Chris Best and Hamish McKenzie (LINK)
The Grant Williams Podcast: The Hundred Year Pivot Ep. 2 - Neil Howe (LINK)
People I (Mostly) Admire Podcast: The Deadliest Disease in Human History (LINK)
The Rest Is History Podcast: The Great Northern War: The Battle of the Baltic (Part 1) (LINK)
Short History Of... Podcast: The Anglo Saxons (LINK)
What Is a Galaxy? (LINK)
“They who lack talent expect things to happen without effort. They ascribe failure to a lack of inspiration or ability, or to misfortune, rather than to insufficient application. At the core of every true talent there is an awareness of the difficulties inherent in any achievement, and the confidence that by persistence and patience something worthwhile will be realized. Thus talent is a species of vigor.” —Eric Hoffer
Roger Federer on talent and grit [H/T Brain Food]:
Yes, talent matters. I’m not going to stand here and tell you it doesn’t.
But talent has a broad definition.
Most of the time, it’s not about having a gift. It’s about having grit. In tennis, like in life, discipline is also a talent. And so is patience.
Trusting yourself is a talent. Embracing the process—loving the process—is a talent. Managing your life, managing yourself.
These can be talents, too. Some people are born with them. Everybody has to work at them.