12 May The office is closed 12.05.2017
First up this week, thanks to Robin Powell for alerting me to this cartoon which explores how difficult it can be to change our opinion about something we believe to be true [4 min read – WARNING some strong language]
On the same theme of how people can sometimes refuse to accept the evidence, in this article the guy who bet Warren Buffet $1m nine years ago that a group of five hedge funds would beat the S&P 500 explains that he has – barring something exceptional occurring – lost that bet. The reason he lost? “…the S&P 500 defied the odds and rewarded investors with a historically normal 7.1 percent nine-year annualized return.” Yes, really. [3 min read]
When that bear market arrives – which it will – you’ll be glad you had a process. [2 min read]
I enjoyed this article about having an appropriate margin of safety [3 min read]
And finally. A story to remind us that the good people outweigh the bad. [2 min read]
Whatever you’re up to this weekend, I hope it’s a good one.