Links - 07/16/2022
“I’m convinced that there is much inefficiency in the market…. When the price of a stock can be influenced by a ‘herd’ on Wall Street with prices set at the margin by the most emotional person, or the greediest person, or the most depressed person, it is hard to argue that the market always prices rationally. In fact, market prices are frequently nonsensical.” —Warren Buffett (1984)
Sidecar Investing (v2.0) (LINK) [Updated from the original post at this link last year.]
Wil VanLoh with Kyle Bass: The Transition To Clean Energy Takes a Long Time (video) (LINK)
Hoarding Cash? Don’t Swing at Every Yield Pitch - by Jason Zweig (LINK)
Li Lu's 2012 Columbia Business School lecture notes [H/T @72types] (LINK)
Boyar Value Group’s Q2 Letter (LINK)
Pershing Square’s slide deck on inflation and the macro economy (LINK)
Current State of the Housing Market (LINK)
The Future of Copper: Will the looming supply gap short-circuit the energy transition? (LINK) [Dan Yergin was also on CNBC discussing this.]
Business Breakdowns Podcast: Rolex: Timeless Excellence (LINK)
The MoneyWeek Podcast: Edward Chancellor: why interest is the force that holds everything in place (LINK)
Related book: The Price of Time
Odd Lots Podcast: Matt Levine On What to Watch In Twitter vs. Elon Musk (LINK)
Making Sense Podcast: #288 — The End of Global Order [with Peter Zeihan and Ian Bremmer] (LINK)
Wait. How big are neutron stars again? (LINK)
How to Successfully Smash Your Face Against a Tree - by Ed Yong (LINK)
A new study refutes the widespread idea that woodpeckers have shock-absorbing heads.
“The world offers so many alternatives that you need a quick filter to eliminate some options and pay attention to others. Whatever your plan, focus is always important.” —Scott Adams
“Most of what we say and do is not essential. If you can eliminate it, you’ll have more time, and more tranquility. Ask yourself at every moment, ‘Is this necessary?’” —Marcus Aurelius
“The difference between successful people and really successful people is that really successful people say ‘no’ to almost everything.” —Warren Buffett