Links - 7/28/2020
“There's no such thing as a worry-free investment. The trick is to separate the valid worries from the idle worries, and then check the worries against the facts.” —Peter Lynch (Source)
Berkshire Hathaway’s Great Transformation (LINK)
Related book: Capital Allocation: The Financials of a New England Textile Mill 1955 - 1985
Nintendo, Disney, and Cultural Determinism - by Matthew Ball (LINK)
Apollo Asia Fund: the manager's report for 2Q20 (LINK)
Greenhaven Road Capital’s Q2 Letter (LINK) [For a more thorough list of Q2 letters, go HERE.]
EconTalk Podcast: Nassim Nicholas Taleb on the Pandemic (LINK) [“After 20 years of working with uncertainty—more than 20 years, of course, but 20 years of publishing to it—I finally wrote a piece that has a sentence that summarizes everything I’ve struggled to explain. In my debate with John Ioannidis, I came up with a sentence: 'Science is not about evidence. Science is about properties.' It's not about a single forecast. Science is about understanding something. It's not about details…. Science is not about forecasting single events. Science is about understanding the properties of stuff, which may or may not include forecasting.”—Nassim Taleb]
Invest Like the Best Podcast: Kat Cole – How to Operate: Lessons in Brand, Distribution, and Leadership (LINK)
Land of the Giants Podcast: Money to burn; why Wall Street loves NFLX (LINK)
Village Global's Venture Stories Podcast: The State and Future of Education in 2020 with Megan O’Connor (LINK)
From Productivity to Psychedelics: Tim Ferriss Has Changed His Mind About Success (LINK)
5 reasons why the coronavirus nightmare may soon be over - by Matt Ridley (LINK)
Et tu, Vulcan? A volcanic eruption marked Julius Caesar's death with climate disaster (LINK)
Book of the day (released today): Fathoms: The World in the Whale - by Rebecca Giggs
“Nature smiles at the union of freedom and equality in our utopias. For freedom and equality are sworn and everlasting enemies, and when one prevails the other dies. Leave men free, and their natural inequalities will multiply almost geometrically, as in England and America in the nineteenth century under laissez-faire. To check the growth of inequality, liberty must be sacrificed, as in Russia after 1917. Even when repressed, inequality grows; only the man who is below the average in economic ability desires equality; those who are conscious of superior ability desire freedom; and in the end superior ability has its way. Utopias of equality are biologically doomed, and the best that the amiable philosopher can hope for is an approximate equality of legal justice and educational opportunity. A society in which all potential abilities are allowed to develop and function will have a survival advantage in the competition of groups.” —Will and Ariel Durant (“The Lessons of History”)