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The Infant Learner
Some stuff I read this week:
A. This week’s Special: –
The Wisdom of Tom Russo
Tom Russo joined Gardner Russo & Gardner LLC as a partner in 1989. In 2014 he became the Managing Member of the firm. Tom and Eugene Gardner, Jr. each manage individual separate accounts and share investment approaches and strategies. In addition, Tom serves as the Managing Member of the General Partner to Semper Vic partnerships. Tom oversees more than $10 billion through separately managed accounts and Semper Vic partnerships. He is a graduate of Dartmouth College (BA, 1977), and Stanford Business and Law Schools (JD/MBA, 1984).
Mr. Russo’s investment philosophy is based upon return on invested capital primarily through equity investments, investing in companies with strong global brands that offer huge growth potential in emerging markets. Mr. Russo is a value investor, with an emphasis on value and price, seeking out companies with strong cash-flow traits, strong balance sheets and the past of generating high rates of return on their assets.
Recently he was interviewed at wealthtrack.com. Kindly access to the below link for detailed interview:
B. Entrepreneurial Diary
Betting on Things That Never Change ( CB )
Capitalism the Apple Way vs. Capitalism the Google Way ( TA )
Elon Musk: “There will not be a steering wheel” in 20 years ( AX )
Growth Guide: How to Set Up, Staff and Scale a Growth Program ( YC )
Amazon Prime and other Subscription Businesses: How do you Value a Subscriber? ( IQ )
C. Other Stories
Broken Clock ( MW )
You Are An Egg ( JZ )
India Market Strategy ( CS )
Interview with Guy Spier ( DH )
Interview with Morgan Housel ( PC )
I am the Tollbridge, a 100 bagger ( LE )
The dangers of timing the markets ( CC )
Risk and Return: Always Positively Correlated? ( FM )
The Narrative Problem of The Indian IT Industry ( PP )
The financial metric that matters more than profits ( TC )
Doubled your Money in Last 3 Years? Skill or Luck? ( NT )
Ted Seides Offers Little Real Explanation for Losing Out to Buffett ( MO )
Mohnish Pabrai Lecture at Univ. of California, Irvine (UCI), June 7, 2017 ( YT )
“I read everything: annual reports, 10k’s, 10q’s, biographies, histories, five newspapers a day. On airplanes, I read the instructions on the backs of seats. Reading is key. Reading has made me rich over time” – Warren Buffett
“I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines. They go to bed every night a little wiser than they were when they got up and boy does that help, particularly when you have a long run ahead of you” – Charlie Munger
You have to apply yourself each day to becoming a little better. By applying yourself to the task of becoming a little better each and every day over a period of time, you will become a lot better”- Carol Dweck