Quote for the Week
Most people think of common stocks as speculative media. They are not, in my opinion. Good common stocks are investment media which are subject to speculative influences. The speculative influences are not the common stocks; they are in the minds of the people who buy and sell them. The problem of investment in common stocks is either to insulate yourselves from the speculative influences, or else to adjust your investment policy so that you can take advantage of the speculative fluctuations that are imposed upon the basic investment quality of common stocks. — Benjamin Graham (source)
From the Archives
Last Call
- Everything You Can’t Have – M. Housel
- Data Update 3 for 2023: Inflation and Interest Rates – Musings on Markets
- The Raven of Zurich – Fortunes & Frictions
- The Apocalypse is Always Nigh – Better Letter
- Charley Ellis: The Evolution of the Asset Management Industry (podcast) – Value Investing w/ Legends
- Invest Or Enlist: The Liberty Bond Story – Investor Amnesia
- What Filthy Rich in Europe Looked Like in 1000 BC, 1 AD, and 1000 AD – BigThink
- Heretical Thoughts on AI – E. Dourado
- The Chaos Machine: How Social Media Rewired Our Minds and Our World – Next Big Idea
- The First Family of Human Cannonballing – Narratively