Michael J. Mauboussin

Just a reminder: "Price appreciation is the only source of investment returns that increases accumulated capital." See myth #2: [link] based on a great paper by Al Rappaport

Gary, I would recommend reading up on this (I did not until recently). Buybacks accelerated a lot after 1982, but they were neither illegal nor that scarce. In fact, the great Charley Ellis (of The Loser's Game fame) co-authored a book about them-in 1971.

Here's some good recent analysis by @OSPpatrick

This is simply one of the best podcasts I have ever listened to. Come for the analytics and stay for so much more. Thank you @GuptaRK22 and @ShaneBattier. Every team athlete should drop what they are doing to listen and learn.

Just finished Chip War by @crmiller1. A wonderful book that is both informative and topical. I learned a lot reading it and recommend it to anyone interested in technology and/or national security.

Quit, by @AnnieDuke, is a great book that I recommend highly. I learned a lot reading it, and picked up useful tidbits even in areas of discussion that were familiar to me. A better understanding of quitting is valuable in nearly all domains.

Another good (re)read is “Bubbles for Fama.”

Hard to watch this and not be entertained, inspired, and moved:

This is a terrific discussion. Kai has a lot of skills and insights that are relevant —> value investing grounding + AI tools + thoughtful analysis of intangibles and crypto

Here's a nice survey paper by Xavier Gabaix on how power laws apply to social systems, including cities, firm size, and the stock market.

Sad to hear of EO Wilson’s death. But he lived a remarkably productive life and challenged and inspired many. I named “The Consilient Observer” after his book, Consilience. I recently read Richard Rhodes’s biography of him, Scientist, which I recommend.

Yes, that is an excellent book.