Links - 12/20/2022
“Warren Buffett had not been seduced by the rallies that followed his exit in May of 1969. From 1969 through 1973, while the bear played with investors’ hopes, Buffett hibernated. Nor was he tempted by the Nifty Fifty. As a value investor, committed to ‘buying low and selling high,’ Buffett understood that everything depends on the price you pay when you get in. In that sense, any value investor is a market timer: at the end of a cycle, when prices are highest, he stops buying. And in Buffett’s view, in the early seventies prices still were exorbitant. It was not until 1973, when the Dow went into free-fall, that the market once again commanded Buffett’s attention. As he told Forbes late in 1974: ‘All day you wait for the pitch you like; then when the fielders are asleep, you step up and hit it.’” —Maggie Mahar (“Bull!”)
Berkshire Hathaway to Add Thomas Murphy Jr. to Board (LINK)
Between Rest and Overdrive: Are Great Investors Lazy? (LINK)
JPMorgan Chase CEO Jamie Dimon on “Face the Nation with Margaret Brennan” | full interview (video, from Dec. 11th) (LINK)
Why fossil fuels are ethical and their opponents aren’t - by Chris Leithner (LINK)
Preparing Your Finances For 2023: Financial Resolutions For The New Year (LINK)
Bob Iger vs. Bob Chapek: Inside the Disney Coup (LINK)
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