The wait for next year is over. Congrats Cubs!
The World Series win is the only thing that happened this week, as far as Chicagoans are concerned.
For everyone outside my little bubble, I came across a Buffett interview on Bloomberg that digs into his early years, businesses as a kid, Ben Graham, his investment process, and more. There are some good stories and quips as usual.
The railroad business had a bad century. They’re kind of like the Chicago Cubs. Everybody has a bad century now and then.
On 2% Economic Growth:
But 2% growth, if you have a little less than 1% population growth, means in one generation – 25 years call it – that we will add maybe 18 to 19 thousand dollars of GDP per capita…So we’re just beginning…My life has been a product of compound interest. Maybe it’s better to do it at higher rates. If you have an already prosperous economy, and we’ve got the most prosperous economy the worlds ever seen, and you keep compounding it over time, people will be living far better 20 years from now than they are now.
- The Rule of 72 – M. Pabrai
- Why Investors Must Be Contrarians to Outperform The Market – 25IQ
- Why Smart People Make Bad Decisions – M. Housel
- Low Priced Stocks No Bargain – L. Swedroe
- Black Monday Revisited: Lessons From 29 Years of Market History – Pimco
- This Bull Market Has Room to Run – B. Ritholtz
- Measuring the Moat, updated (pdf) – M. Mauboussin
- Inside Harry Houdini’s Entrepreneurial Legacy – Inc.
- A Night that Lives Forever – Chicago Tribune
- How the Chicago Cubs Made World Series History – Time