Quote for the Week
Earning power must always be the chief criterion of stock values — exceeding in importance asset backing, financial condition, and even dividend return. For it is the average rate of earnings which determines the real value of the physical assets, which weakens or strengthens the cash position, and which finally must control the dividend policy. — Benjamin Graham, 1922 (source)
From the Archives
Last Call
- Enough: The Forgotten Lesson of Ben Graham’s Life – Neckar
- Want to Invest Successfully? Quit Trying to Make Sense of It – J. Ptak
- The Rewind: Calling the Market (podcast) – H. Marks
- Michael Mauboussin: How Great Investors Make Decisions (podcast) – Tim Ferriss Show
- Shorting Lousy Stocks = Lousy Returns? – Finomial
- Point, Shoot, and Forget – Tedium
- Interview: Kevin Kelly, Editor, Author, and Futurist – Noahpinion
- Why AI Won’t Cause Unemployment – M. Andreessen
- Followup To Why AI Won’t Cause Unemployment – M. Andreessen
- How Parking Lots Shape Our Cities for the Worse – Scope of Work
