“Indeed if you aren’t certain that you understand and can value your business far better than Mr. Market, you don’t belong in the game. As they say in poker, “If you’ve been in the game 30 minutes and you don’t know who the patsy is, you’re the patsy.”
Warren Buffett
“Generally speaking, I think if you’re sure enough about a business being wonderful, it’s more important to be certain about the business being a wonderful business than it is to be certain that the price is not 10% too high … That’s a philosophy that I came slowly to. I originally was incredibly price conscious. We used to have prayer meetings before we would raise our bid an eighth. But that was a mistake. And in some cases, a huge mistake. I mean, we’ve missed things because of that.”
Warren Buffett
What I’m Reading
- 11 Blue-Chip Bargains https://www.barrons.com/articles/sell-these-2-trucking-stocks-because-a-recession-is-coming-cummins-paccar-51562348928
- Jim Grant: The Trouble With Austria’s 100-Year Bonds https://www.barrons.com/articles/jim-grant-the-trouble-with-austrian-centuries-51562354708?mod=djem_b_reviewpreview_20190705
- SPX vs U.S. 10Y Yield – The Jaws Chart h/t to The Market Ear https://themarketear.com/posts/cvc0DHyjjj
- RenTech Has Been Pulling Money From Deutsche Bank for Months https://www.bloomberg.com/news/articles/2019-07-05/rentech-has-been-pulling-money-out-of-deutsche-bank-for-months
- These Stocks Contributed to Pershing Square’s Stellar Performance https://marketrealist.com/2019/07/these-stocks-contributed-to-pershing-squares-stellar-performance
- Samsung Memory-Chip Pain Isn’t Fading https://www.wsj.com/articles/samsung-memory-chip-pain-isnt-fading-11562318459?mod=djemHeardEUH
- U.S. Adds 224,000 Jobs As Hiring Rebounds In June https://www.marketwatch.com/story/hiring-rebounds-in-june-as-us-creates-224000-jobs-unemployment-rises-to-37-2019-07-05?siteid=rss&rss=1
- What Economists Are Saying Regarding The Jobs Report
