Here’s a list of this week’s best investing reads:
Orthodox Privilege (Paul Graham)
Wealth Inequality & Lottery Tickets (A Wealth of Common Sense)
We the People? We the Pack. (Epsilon Theory)
Here We Are: 5 Stories That Got Us To Now (Collaborative Fund)
Buffett’s Disappearing Alpha – Why It Doesn’t Really Matter (Validea)
Was that the Top? (The Irrelevant Investor)
An important ratio (The Reformed Broker)
Instead of Criticizing Tech Valuations, Embrace Them (Bloomberg)
Are You Ready for a Cyclical Reversion? (Wisdom Tree)
Country Risk: Determinants, Measures and Implications – The 2020 Edition (Aswath Damodaran)
GMO – Why We Are Not Worried About Elevated Profit Margins (GMO)
How are Companies Handling the COVID Crisis? (Verdad)
The Troubled Saga of Masayoshi Son’s $100 Billion Fund (Bloomberg)
It’s Been a Rough 6 Months for Stock-Picking Gurus (Zen Investor)
SEC Proposes Amendments to Update Form 13F for Institutional Investment Managers (SEC.gov)
Santa Fe: “Remember This” (Vitaliy Katselelson)
Buffett’s SEC Filing Implies Repurchases (Rational Walk)
Professor Whose Formula Predicts Bankruptcies Has a Big Warning (Bloomberg)
Bankruptcy & Markets (Jamie Catherwood)
Richard Pzena: Questioning Conventional Wisdom on Risk and Return (Pzena)
The (Vax)Art of Well-Timed Insider Transactions (Non-GAAP)
The ‘Most Crowded’ Trade Ever (UPFINA)
Fed Up (Humble Dollar)
Warren Buffett on Dividends (GuruFocus)
Sam Zell on REITs (NYU Schack)
Let’s Get Ready to Rundle (Scott Galloway)
The Complete Breakdown of Berkshire Hathaway’s Subsidiaries (Vintage Value Investing)
What Risk Isn’t (Of Dollars And Data)
The TikTok War (Stratechery)
All Right Now: But a Long Way to Go to Recover (Schwab)
From 1720 to Tesla, FOMO Never Sleeps (Jason Zweig)
Investing is Hard …and Tesla Topped (Howard Lindzon)
“I am uncertain” vs. “It is uncertain” – Internal Versus External Uncertainty (DSGMV)
The Only Way to Win in Investing (Safal Niveshak)
Four questions I would love to know the answer to (but don’t) (Real Returns)
The Magnificent Six Stocks That Are Gobbling Up Market Share (Dr Ed)
Down the Rabbit Hole (Frank Martin)
I’m bullish on bank stocks; The bear case; Doug Kass with the bull case (Whitney Tilson)
Was it ETFs that caused the markets to blow? (EB Investor)
Stocks Turned Upside Down? The COVID-19 Beta Effect (CFA Institute)
The COVID Economy In Suspended Animation (GMM)
Homes, Castles, and Price Expectations (Compound Advisors)
Dr. Copper’s Prognosis (Brinker)
This week’s best value investing reads:
Be Careful Declaring Investing Dead (Zero Hedge)
How Can We Be Sure That Value Investing Will Continue To Work? (Forbes)
BofA Says Modified Value-Investing Approach Can Still Outperform (Bloomberg)
The case for value investing (LiveWire)
This week’s best investing research reads:
Momentum Versus Mean Reversion (Macro Ops)
Left Tail Risk and Left Tail Momentum (Alpha Architect)
Letting The Market Reveal Its Psychology (TraderFeed)
Falling interest rate volatility (SentimenTrader)
Rising Vol ≠ Falling Stocks (Macro Tourist)
Tech Stocks Remain US Equity Sector Leader In 2020 (Capital Spectator)
Cap-Weighted Benchmarks: Good Momentum Bets? (FactorResearch)
Technically Speaking: “Golden Cross” Arrives, Are The Bulls Safe? (Advisor Perspective)
[Chart of The Week] Rotation, Rotation, Rotation (All Star Charts)
This Week’s Best Investing Tweet
“We keep this picture in the office to remind our people that one should always look for opportunity away from where the crowd is going.”
-Bruce Flatt, CEO Brookfield Asset Management
— Ian Cassel (@iancassel) July 15, 2020
This week’s best investing podcasts:
When the Facts Change, We Change Our Minds (Anatomy of a Sale) – Ep 81 (The Intellectual Investor)
Musk vs Buffett, Gold vs the S&P 500 (The Compound)
This is a Bubble (Animal Spirits)
Are Tech Stocks In a Bubble Like 1999? With Puru Saxena (7Investing)
Is the Price/Book Ratio Dead? (Excess Returns)
274- Bill Ackman’s Investing Checklist (InvestED)
Turner Novak – The Past, Present, and Future of Consumer Social Companies (Invest Like the Best)
Inflation station (Grant’s)
TIP305: The Structural Impact w/ George Gammon & Clips from Ray Dalio & Jeff Gundlach (TIP)
#76: Warren Buffett’s $10 Billion Bet: Is he Anti-ESG? (Absolute Return)
When Will Value Catch a Bid, Multiple Expansion, Process vs. Outcome, and other Questions (Focused Compounding)
Ep. 130 – How to Avoid Bubbles, Limit Drawdowns and Safely Grow Wealth with @ValueStockGeek (Planet MicroCap)
Why Studying Keynes Is More Important Than Ever (Odd Lots)
20VC: Chamath Palihapitiya on Why IPOs and Direct Listings Are Broken (Twenty Minute VC)
The Bullish Case: Great Investor Bill Miller (WealthTrack)
Why Banks Are In Massive Trouble (VIJ)
This week’s best investing graphics:
Online Gaming: The Rise of a Multi-Billion Dollar Industry (Visual Capitalist)
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