📚 Edwin's Highlights

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A batch of the best highlights from what Edwin's read, .

All this proves, we insist, that only rarely can one make dependable predictions about price changes, absolute or relative.

The Intelligent Investor, Rev. Ed

Benjamin Graham, Jason Zweig

We say instead: “Boost the rate of productivity growth in that person’s fishing company.” Or better yet: “Teach a person how to start a fishing company that will feed millions. Teach a person how to hire talented people to make a better fishing company.” Those are increases in trajectory, and along the way they will teach many thousands of employees how to fish or how to contribute to the fishing process. Always look to take it one step higher and to teach other people how to do the same.

Talent

Tyler Cowen and Daniel Gross

Part of Brandt’s job for Buffett was finding scuttlebutt, a term used by investment writer Phil Fisher, who said that qualitative factors like the ability to maintain sales growth, good management, and research and development characterized a good investment.29 These were the qualities that Munger was searching for in the great businesses. Fisher’s proof that these factors could be used to assess a stock’s long-term potential was beginning to creep into Buffett’s thinking, and would eventually take hold.

The Snowball

Alice Schroeder

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A batch of the best highlights from what Edwin's read, .

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