Quote of the Day
"When a previously known truth is later discovered to be wrong, we should also respect the idea that too many theories try too hard to be facts."
(Morgan Housel)
Chart of the Day
If nothing else, Berkshire Hathaway has been consistent in its principles. (chart via @ycharts)
Berkshire Hathaway
- Some of the best nuggets from Warren Buffet's latest shareholder letter. (investmenttalk.substack.com)
- Warren Buffett has been badmouthing GAAP for awhile now. (tker.co)
- A link to the 2022 Berkshire Hathaway ($BRK.A) annual shareholder report. (berkshirehathaway.com)
- Warren Buffett isn't shy about admitting mistakes. (bloomberg.com)
Companies
- Why you shouldn't fall in love with companies. (rationalwalk.com)
- Tesla ($TSLA) is no longer on an EV technology leader. (businessinsider.com)
- Airbnb ($ABNB) has a rating inflation problem. (wsj.com)
- At this point, legit crypto companies don't have much choice but to embrace regulation. (institutionalinvestor.com)
Amazon
- Amazon ($AMZN) is increasing the number of same-day shipping options. (wsj.com)
- Sketchy products keep showing up for sale on Amazon ($AMZN). (arstechnica.com)
- No one talks about 'voice-as-a-platform' any more. (readmargins.com)
Venture capital
- Sequoia Capital has a China problem. (wsj.com)
- On the benefit of starting a company in a low-cost Midwest state. (forbes.com)
- The pros and cons of a four-day workweek for startups. (socialleverage.com)
Presidents
- Why much of what you know about the Carter presidency is wrong. (noahpinion.substack.com)
- Why we should rebrand President's Day for Abraham Lincoln. (rogerlowenstein.substack.com)
Policy
- John Rekenthaler, "In short, the Social Security “crisis” is an unhelpful construction." (morningstar.com)
- Medical debt plays a big role in why the South has lower credit ratings on average. (washingtonpost.com)
- Urban areas can't grow without new housing. (bloomberg.com)
- Data from the U.S. Sentencing Commission show judges rejected more than 80% of compassionate release requests filed from October 2019 through September 2022. (npr.org)
- Occupational licensing is out of control. (theatlantic.com)
Economy
- Menzie Chinn, "Strong labor market, spending and income numbers all suggest no recession in place yet." (econbrowser.com)
- The economic schedule for the coming week. (wsj.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- The 2023 Credit Suisse Global Investment Returns Yearbook is here! (abnormalreturns.com)
- Do less to do better. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
