Circle of Competence Issue #28

September 9, 2018

Quote of the week: "Far better it is to dare mighty things, to win glorious triumphs, even though checkered by failure, than to rank with those poor spirits who neither enjoy much nor suffer much, because they live in a gray twilight that knows not victory nor defeat." – Theodore Roosevelt

 

FOOD FOR THOUGHT

 

I didn't have time to write a column this week due to tough travel schedule, but did read a very interesting letter from Mark Yusko at Morgan Creek Capital (Chapel Hill, NC), where he explains in detail the opportunity his firm sees currently in the nascent cryptocurrency industry. I would highly recommend anyone interested in history, philosophy, economics, and of course crypto technology to read his Q2 letter. I plan on writing a column next week on my thoughts around cryptocurrencies based around Yusko's comments in his letter.  

 

In other news, I found this gem this week: an original PDF'd copy of Warren Buffett's notes and thoughts written on a 2007 Lehman Brothers Holdings 10-K. Pure brilliance if you have the time. Here is the accompanying WSJ interview with Nicole Friedman

 

 

DEPARTMENT OF GENERAL FINANCE

 

- Warren Buffett's recent CNBC interview on Apple and buying stocks (CNBC)

 

- Morgan Housel's piece on how Brent Beshore raised a uniquely structured permanent private equity fund

 

- The new mortgage kings: they're not banks (WSJ)

 

- The demise of Sears stores is fueling a new fortune (NYT)

 

- The investors who are investing in the next wave conscious consumer brands (Pitchbook)

 

 

DEPARTMENT OF TECHNOLOGY

 

- What you might not know about the e-sports industry, soon to be a $1 billion industry (NYT)

 

- CRISPR halted muscular dystrophy in dogs - are humans next? (Wired)

 

- Alexa is losing her edge (Slate)

 

 

DEPARTMENT OF STARTUPS

 

- GreyOrange raises $140M to develop fully automated robots for warehouses

 

- MasterClass raises $80M to expand its celebrity-based education platform

 

- MissFresh raises $450M to expand its fresh produce e-commerce platform

 

 

DEPARTMENT OF PODCASTS

 

- Meet property management extraodinaire, RE investor, and hotel owner Jesse McCue (BiggerPockets)

 

- Capital Allocators - Ted Seides interview Sarah Williamson on what it takes to be a long-term investor

 

- The Investors Podcast - 3Q Mastermind Discussion on Google, Facebook, H&R Block, and Pilgrim's Pride stock pitches 

 

 

DEPARTMENT OF LETTERS

 

- Adventur.es 2017 annual letter (Brent Beshore) 

 

- Brookfield Asset Management Q2 letter to shareholders

 

 

DEPARTMENT OF MISCELLANEOUS

 

- Sinocism newsletter: thoughts from recent trip to Beijing China on trade wars, the political environment, and the economy 

 

- How big tech swallowed Seattle (Bloomberg)

 

- Is there evidence for a multiverse? (Starts with a bang)

 

Please reload

Recent Posts

Please reload

Archive

Please reload

©2018 by Impressions. Proudly created with Wix.com