Links - 6/14/2020
“The problem of having to finish every book is you’re not only spending time on books you shouldn’t be but it also causes you to stall out on reading in general. If I can't start the next book until I finish this one, but I don't want to read this one, I might as well go watch TV. Before you know it, you’ve stopped reading for a month and you're asking ‘what have I done?!’ I think that's part of it. This moral hectoring of ‘don't do that’ which can only be so successful. The other technique is to read a dozen books at a time.” —Marc Andreessen
The Observer Effect Interview: Marc Andreessen (LINK)
Welcome to the first ever interview on 'The Observer Effect'. When planning for these series of interviews with interesting leaders and institutions, there was only one person I had in mind to have here first - Marc Andreessen.
The Evolution of Value Investing: Past, Present and Beyond [H/T @HurriCap] (LINK)
As insurance companies take over pension plans, are your payments at risk? (LINK)
While risks associated with underfunded pensions for state and local government employees have been known for years, a new concern has arisen, pension rights advocates say. It centers on the growing trend of insurance companies taking over pensions for employees of private companies.
Last week, I linked to Frank Partnoy’s recent article as well as a critique of that article by Nathan Tankus. For those that want to continue following the discussion/debate, Partnoy responded with comments on Twitter, and Tankus responded with another article.
Videos from Nudgestock Global 2020, which was online this year (LINK)
The text of Jason Collins’ presentation at Nudgestock (LINK)
MMT Going Mainstream… (LINK)
Playing the Market Has a Whole New Meaning - by Jason Zweig ($) (LINK)
Las Vegas has reopened, and not just in Nevada.
Wall Street also resembles a casino—even more than it normally does. Many stocks, especially of smaller companies in financial distress, have been bouncing around like dice on a craps table.
These moves seem partly driven by people who are flocking to the stock market for the thrill of taking big risks, whether they pay off or not. Such gambling can be fun, but you should never confuse it with investing.
Bear Market Drives Billion-Dollar Wealth Firms to Tap Federal Aid ($) (LINK)
Critics are calling on the wealth-management firms to return the funds
Investor’s Attack on Texas Real-Estate Lender Boomerangs ($) (LINK)
Short selling paid off for Hayman Capital, but now it faces regulatory scrutiny itself
Over 1,300 Chinese Medical Suppliers to U.S.—Including Mask Providers—Use Bogus Registration Data ($) (LINK)
The Death of Engagement - by Orville Schell [H/T @benthompson] (LINK)
The policy of "engagement" has defined U.S.-China relations for almost a half century. It didn't have to end this way.
The State of the Pandemic: The United States - by Peter Zeihan (LINK)
'Superforecasters' Are Making Eerily Accurate Predictions About COVID-19. Our Leaders Could Learn From Their Approach (LINK)
The Masks Masquerade - by Nassim Taleb (LINK)
Behind the Byline With Ed Yong (LINK)
Learn more about Ed Yong, a staff writer who covers science, and how he approaches his work.
“Any kind of important book should immediately be read twice, partly because one grasps the matter in its entirety the second time, and only really understands the beginning when the end is known; and partly because in reading it the second time one’s temper and mood are different, so that one gets another impression; it may be that one sees the matter in another light.” —Arthur Schopenhauer
“Men of learning are those who have read the contents of books. Thinkers, geniuses, and those who have enlightened the world and furthered the race of men, are those who have made direct use of the book of the world.” —Arthur Schopenhauer