Links - 8/19/2021
“We tend to go into businesses that inherently are low-risk, and are capitalized in a way that that low risk of the business is transformed into a low risk to the enterprise. The risk beyond that is that even though you...identify such businesses, that you pay too much for them. That risk is usually a risk of time rather than loss of principal, unless you get into a really extravagant situation. But then the risk becomes the risk of you yourself. I mean, whether you can retain your belief in the real fundamentals of the business and not get too concerned about the stock market. The stock market is there to serve you, and not to instruct you. And that’s a key to owning a good business, and getting rid of the risk that would otherwise exist in the market.” —Warren Buffett
Steve Clapham launched a podcast, which I’m excited to add to my podcast list…. Behind the Balance Sheet Podcast: Episode 1 - Two Titans [John Armitage and Brent Hoberman] (LINK)
Hosking Partners: Treatts come in many shapes and sizes [H/T @mastersinvest] (LINK)
Amazon Plans to Open Large Retail Locations Akin to Department Stores (LINK)
Contrarian Investors Should Love Emerging Markets ($) (LINK)
How I Built This Podcast: Live From The HIBT Summit: Adam Grant (LINK)
Founder’s Field Guide Podcast: Max Simkoff - Redesigning the Home Buying Experience (LINK)
Manager Meetings Podcast: Bruce Martin – Still Lake Capital (LINK)
Revisionist History Podcast: A Serious Game (LINK)
Seeing stars born at the dawn of the Universe (LINK)
Hacking the life hack: To find what’s most meaningful to us, we have to learn which things to neglect [H/T @williamgreen72] (LINK)
“We make a living by what we get, but we make a life by what we give.” —Winston Churchill