Links - 6/7/2020
“In terms of immediate business decisions, I think frequently the right answer is counterintuitive.” —Charlie Munger (2010)
“We never know anything here except the most elementary common sense. It’s amazing that it’s sufficed for us.” —Charlie Munger (2010)
“You want to look at your stocks as businesses, and think about their performance as businesses. Think about what you pay for them, as you would think about buying a business. And let the rest of the world go its own way.” —Warren Buffett
Permanent Assumptions - by Morgan Housel (LINK)
This Bull Market Isn’t as Big as You Think - by Jason Zweig ($) (LINK)
Just a few big winners are responsible for most of the stock market’s rapid recovery
Mark Zuckerberg Is an Arbiter of Truth—Whether He Likes It or Not - by Steven Levy (LINK)
BYD gives first glimpse of Blade Battery factory in China (LINK)
Patisserie Holdings - What could have alerted you to dangers ahead - by Steve Clapham (video) (LINK)
Related link: Behind the Balance Sheet -- Courses
A December 2015 interview with Ed Chancellor on capital cycle investing worth reviewing (Video, Transcript)
Related book: Capital Returns
Videos presentations from the recent Contrarian Investing Virtual Conference (LINK)
Bill McBride’s comments on the May employment report (LINK)
Exponent Podcast: 186 — Speech and Systems (LINK)
The Grant Williams Podcast: The End Game Ep. 1 - The Art Of Short Selling & A Mystery Guest (LINK)
Bill Fleckenstein and Grant Williams embark on a journey to try and piece together what The End Game for financial markets might look like. Will central banks have the printing press taken away from them by the bond market or will we achieve what Bill terms 'Cold Fusion'?
Joining the podcast this week is a special guest who dreamed up this whole cockamamie idea...
Real Vision: Daily Briefing - June 5, 2020 (video) (LINK)
WealthTrack Podcast: Financial Impact of Past Pandemics – Important Lessons for Today [with Richard Sylla] (LINK)
“I do find that most creative people end up applying different rules to their lives—in terms of how their lives are managed—because creativity doesn't necessarily conform to more traditional boundaries; whether their hours of work, places of work, circumstances. What you have to accept with creators and creativity is that one rule doesn't apply. It's whatever works for them.” —Bob Iger