Links - 07/05/2022
“I really don't [think that there's value in using quantitative tools to measure and manage risk]. We don't do it at all. First of all, what is risk? It's the probability of a negative event in the future. What do we know about that? What does the past tell us about that? The past has relevance, but it's not absolute…. I don't think risk can be measured. I don't think the past is absolutely applicable. In fact, the big money is lost at the juncture when the past stops being applicable, which happens eventually. And I don't think that the possibilities in the future can be synthesized into inputs that are sufficient to let a computer decide what's risky or not.” —Howard Marks [Source: 25:46 of Talks at GS video, and transcript]
Session with Mr. Mohnish Pabrai | The Methods of Value Investing (video, starting at 2:46) (LINK)
A “Hidden Value” Idea With 149% Potential Upside (LINK)
Americans Have Had It With Inflation (LINK)
How TikTok Became a Best Seller Machine (LINK)
How the man behind the Apple Store presided over a Spac catastrophe (LINK)
Michael Lewis: ‘What really works for Trump is that the system is rigged’ (LINK)
Permanent Equity essay: Goodbye Boring Businesses (LINK)
This Week in Intelligent Investing: SPECIAL: Vitaliy Katsenelson on the Stoic “Operating System”, Painful Experiences in Investing (LINK)
Related book: Soul in the Game
Invest Like the Best Podcast: Jess Lee - Designing Investment Products (LINK)
The Disruptive Voice Podcast: 94. The What, The How, And The Jobs To Be Done Served By The Modern Classrooms Project – A Conversation with Kareem Farah (LINK)
The Rest Is History Podcast: 203. American Civil War: Aftermath & Legacy (LINK)
The Daily Stoic Podcast: Seneca on Groundless Fears (LINK)
Jupiter's moon Europa is getting salty (LINK)
“The tranquillity that comes when you stop caring what they say. Or think, or do. Only what you do. (Is this fair? Is this the right thing to do?)” —Marcus Aurelius