Links - 10/01/2024
“Because of the existence of risk, things are going to be different from what we expect from time to time. How well are we prepared to deal when it’s different?” —Peter Bernstein [Source]
St. James Investment Company’s Q3 2024 Letter [H/T Jon] (LINK)
Chapter 8 of The Intelligent Investor: Or, How I Learned To Stop Worrying & Love Market Fluctuations (LINK)
Lincoln’s 2nd Inaugural Address; Investing Philosophies and Tribalism - by John Huber (LINK)
Just do it! Brand Name Lessons from Nike’s Troubles (LINK)
Q&A With Malcolm Gladwell: “Revenge of the Tipping Point” (LINK)
Risk VS Reward: Career Lessons from Terry Smith CEO of Fundsmith (video) (LINK)
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Value After Hours: S06 E36: Author Brendan Hughes on Markets in Chaos: A History of Market Crises (video) (LINK)
Family Office Podcast: Dr. Robert Cialdini on Maximizing Influence in the Age of Artificial Intelligence (LINK)
Invest Like the Best Podcast: Ray Ozzie - The Future of Intelligent Machines (LINK)
The Knowledge Project Podcast: The Blueberry Billionaire | John Bragg (LINK)
Against the Rules with Michael Lewis Podcast: Season 4: Episode 2: Values of the Game (LINK)
Mindscape Podcast: Venki Ramakrishnan on the Biology of Death and Aging (LINK)
“I think probably the most common mistake is trying to be consistent. What happens is you get an idea, you sell people on the idea—investors, the employees—and you get into it and the idea turns out to be wrong. But you want to be consistent and you hold onto it longer than you should…It’s better to be right than consistent. And that’s a very hard thing to learn, particularly early in life.” —Ben Horowitz
[When discussing the most common mistake start-ups make, but it’s an idea that also applies more broadly.]