Links - 2/25/2021
“We don't think about mistakes. We take the situation as it is and try to solve it.” —Gerald L. Salzman (2021 Daily Journal Annual Meeting)
Daily Journal Annual Meeting transcript (LINK)
Charlie Munger Renews Robinhood Criticism, Likens App to Racetrack Betting ($) (LINK)
“I hate this luring of people into engaging in speculative orgies,” Mr. Munger told The Wall Street Journal from his Los Angeles home. Robinhood “may call it investing, but that’s all bullshit.”
He added, “It’s really just wild speculation, like casino gambling or racetrack betting. There’s a long history of destructive capitalism, these trading orgies whooped up by the people who profit from them.”
Founder’s Field Guide Podcast: Ryan Petersen - Where There Is Mystery, There Is Margin (LINK)
Masters of Scale Podcast: Rapid Response: Wartime leadership, with Nike’s John Donahoe (LINK)
Grant’s Current Yield Podcast: Deeper into the numbers (LINK)
Odd Lots Podcast: How Chinese Buying Is Causing a Boom in Agricultural Commodities (LINK)
American Innovations Podcast: Lie Detector | The Heart of a Liar | 1 (LINK)
Ryan Holiday’s 100 Very Short Rules for a Better Life (LINK)
“There's one thing that we're quite passionate about, and that is serving the customers who have trusted us…. You can hardly think of anything more important in life than being reliable for the people who trust you. And we're going to bust our ass to try and do a good job.” —Charlie Munger (2021 Daily Journal Annual Meeting)