Links - 12/23/2024
“Projections tend to cluster around historic norms and call for only small changes.... The point is, people usually expect the future to be like the past and underestimate the potential for change.” —Howard Marks
“Evidently, it’s part of the human condition that people extrapolate the recent past. And so, since returns from common stocks have been high for quite a long period, they extrapolate that they will continue to be very high into the future.” —Charlie Munger (2001)
No One To Blame - by Ian Cassel (LINK)
GMO Quarterly Letter | Bargain, Value Trap or Something in Between? (LINK)
You’re Invited to Wall Street’s Private Party. Say You’re Busy. - by Jason Zweig (LINK)
Steve Ballmer, the Non-Investing Guru of Investing [H/T Matt] (LINK)
Investment Panel -- profiting from the mistakes of others (video, from March 2024) [w/ Merryn Somerset Webb, Russell Napier and Edward Chancellor) (LINK)
Invest Like the Best Podcast: Jared Kushner - The Mechanic (LINK)
Freakonomics Radio Podcast: Your Brain Doesn’t Work the Way You Think (LINK)
Plain English Podcast: The Productivity Paradox: Why Less Is More With Oliver Burkeman (LINK)
The Daily Stoic Podcast: The Wisest Man Alive (Yet Not Without Flaws) (LINK)
The Rest Is History Podcast: Charlemagne: Pagan Killer (Part 2) (LINK)
“The most important scientific revolutions all include, as their only common feature, the dethronement of human arrogance from one pedestal after another of previous convictions about our centrality in the cosmos.” —Stephen Jay Gould