Quote for the Week
A phenomenon Ben Graham talked about over and over again. He said, “It’s not the bad ideas that do you in, it’s the good ideas.”… He meant that if a thing is a bad idea, it’s hard to overdo it.… You’ll recognize it as a bad idea, so it’s not going to cause much investment trouble. But where there is a good idea with a core of essential and important truth, you can’t ignore it. After all, it’s a good idea with important truth in it causing big effects. And then it’s easy to overdo it. So the good ideas are a wonderful way to suffer terribly if you overdo them. — Charlie Munger (source)
From the Archives
Last Call
- When is a Loss Not a Loss? – Owenomics
- What’s in a Cycle? – J. Zweig
- Look for Boring First – The Diff
- The Dangers of Storytelling in Investing: How to Avoid the Narrative Fallacy – Safal Niveshak
- Hendrik Bessembinder: Do Stocks Outperform Treasury Bills? (podcast) – The Longview
- Stay Safe Out There – Humble Dollar
- Marks Memo: Shall We Repeal the Laws of Economics? – H. Marks
- Benjamin Graham: In Big Trouble with Money and Love – Beyond Ben Graham
- Greedy People Might be Frowned Upon, But Are They the Winners? – Psyche
- The Lemon Gang: Citrus and the Rise of the Mafia – JSTOR Daily