Quote for the Week
Nothing tells in the long run like good judgment, and no sound judgment can remain with the man whose mind is disturbed by the mercurial changes of the Stock Exchange. It places him under an influence akin to intoxication. What is not, he sees, and what he sees, is not. He cannot judge of relative values or get the true perspective of things. The molehill seems to him a mountain and the mountain a molehill, and he jumps at conclusions which he should arrive at by reason. His mind is upon the stock quotations and not upon the points that require calm thought. Speculation is a parasite feeding upon values, creating none. — Andrew Carnegie (source)
From the Archives
Last Call
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- Gambling Nation – Owenomic
- What We Can Learn from the 1980 Oil Market – G. Hoots
- Economic Moats Explained: What They Are & Why They Matter – Part I – Flyover Stocks
- Country Risk: My 2024 Data Update – Musings on Markets
- Untangling The IRS’s New Finalized (And Proposed) Regulations On RMDs – Kitces
- Luca Dellanna on Winning Long-Term Games and Ergodicity (video) – Value After Hours
- Morgan Housel: Behavior Beats Intelligence (podcast) – At the Money
- The Strategy Behind One of the Most Successful Labs in the World – Nature
- Why Everyone Gets the Monty Hall Puzzle Wrong – Scientific American
- Everything’s Still Awesome: Lego at 75 – Esquire