Articles

Amazon, the world’s most remarkable firm, is just getting started

“Never before has a company been worth so much for so long while making so little money: 92% of its value is due to profits expected after 2020.”

By The Economist

The Difference Between a Prediction and a Probability

“Tell them the market is going to 3000 and they can buy on margin. Tell them the market is going to 1000 and they can sell everything.”

By Charlie Bilello

Six Impossible Things Before Breakfast

“If bond markets are smoking weed, then the stock market appears to be hooked on crack”

By GMO

Risk is How Much Time You Need

“Most venture-backed startups will fail. A much smaller portion will survive, barely. A tiny portion will do very well, and a literal few will become multi-billion dollar companies.”

By Morgan Housel

Podcasts

Ricardo Semler — The Seven-Day Weekend and How to Break the Rules

“If you can’t justify it absolutely, let’s try to do it without.”

By Tim Ferris

The Future of Asset Management

“I don’t have a solution, I’m just fascinated by the problem.”

By Patrick O’Shaughnessy

Michael Munger on the Basic Income Guarantee

“The Basic Income Guarantee is a substitute for all other welfare programs.”

By Russ Roberts

Books

Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street

“In 2006, the same year that Lloyd Blankfein, the CEO of Goldman Sachs, was paid $54 million- causing outrage in some circles- the lowest-paid person on the list of the twenty-five highest paid hedge fund managers made $240 million.”

By Sheelah Kolhatkar

Home Game: An Accidental Guide to Fatherhood

“The American father of a baby is really just a second-string mother.”

By Michael Lewis

A Thread Across the Ocean: The Heroic Story of the Transatlantic Cable

“There is always a shakedown period in any new technology while the best ways to maximize profit are explored.”

By John Steele Gordon