Links - 3/18/2021
“All investment is, is laying out some money now to get more money back in the future. Now, there’s two ways of looking at the getting the money back. One is from what the asset itself will produce. That’s investment. One is from what somebody else will pay you for it later on, irrespective of what the asset produces, and I call that speculation. So, if you are looking to the asset itself, you don’t care about the quote because the asset is going to produce the money for you.” —Warren Buffett
Camel City Chat: Episode 35 — Gene Hoots (video) (LINK)
Related book (highly recommend): Going Down Tobacco Road
40 ‘Invaluable’ Investing Lessons From Tony Deden (LINK)
Too Much, Too Soon, Too Fast - by Morgan Housel (LINK)
Pay Attention to the Castles Behind the Moats - by Todd Wenning (LINK)
Oaktree Insights - Leaning Toward Value: Emerging Markets Equities After the Pandemic (LINK)
Stephen Clapham: eToro SPAC and its extreme valuation (video) (LINK)
How Energy Intensive Will the “Green Transition” Be? (LINK)
Founder’s Field Guide Podcast: Jonathan Goldberg - Capturing Carbon (LINK)
Yet Another Value Podcast: Will Barnes from In Practise on Naked Wines (LINK)
The Business Brew Podcast: Elliot Turner - Growth At A Reasonable Price Defined (LINK)
The World Health Organisation's appeasement of China has made another pandemic more likely - by Matt Ridley (LINK)
How the Inca Built Machu Picchu (LINK)
“Human history is a fragment of biology. Man is one of countless millions of species and, like all the rest, is subject to the struggle for existence and the competition of the fittest to survive. All psychology, philosophy, statesmanship, and utopias must make their peace with these biological laws. Man can be traced to about a million years before Christ. Agriculture can be traced no farther back than to 25,000 B.C. Man has lived forty times longer as a hunter than as a tiller of the soil in a settled life. In those 975,000 years his basic nature was formed and remains to challenge civilization every day.” —Will Durant, “Heroes of History”