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January 10 - August 19, 2019
The Outsiders, by William Thorndike, Jr., is an outstanding book about CEOs who excelled at capital allocation. It
I also recommend The Clash of the Cultures by Jack Bogle and Laura Rittenhouse’s Investing Between the Lines.
But Charlie told me long ago to never underestimate the man who overestimates himself.
In our view, it is madness to risk losing what you need in pursuing what you simply desire.
it’s great to have a manager with a 160 IQ — unless he thinks it’s 180.)
