Circle of Competence Issue #74

August 25, 2019

QUOTE OF THE WEEK

 

"Do you wish to rise? Begin by descending. You plan a tower that will pierce the clouds? Lay first the foundation of humility" - Augustine of Hippo, Sermon 19 on the New Testament

 

 

FOOD FOR THOUGHT

 

I've been interested in space lately. Maybe because of the Apollo Mission's 50th anniversary, maybe because of Elon Musk, maybe because of humanity's existential risk of being a one-planet species. Here are some of the more interesting reads I've come across on space exploration, mining, Mars, and humanity entering the space-faring age:

 

Asterank's database of asteroids and their associated mining values (Asterank)

 

The future of in-space manufacturing is 3-D printing (Cosmos Magazine)

 

AI Space Factory's Mars Habitat - MARSHA (AI Space Factory)

 

Small satellite launches and their growth phase (Space News)

 

*How and why Spacex will colonize Mars (Wait But Why)

 

*Note - this is an extremely long read but worth it for the imagination.

 

 

Tilray

 

I wrote about Tilray back in October of 2018 here on Circle of Competence, questioning its valuation. Isn't it nice when financial markets demonstrate that the laws of economic gravity still apply? Note: Tilray's stock price dropped from ~$150 to ~$30 as of this week. 

 

 

WRITTEN WORD

 

TOP READ: Starbucks and its customer loyalty/gift card 'float' (Moneyness)

 

Berkshire Hathaway Energy presentation (BRK.A)

 

Private equity must be more private (Pensions & Investments)

 

Why complexity sells (Morgan Housel)

 

Thinking aloud about bank margins part one and part two (John Hempton)

 

Texas shale towns grapple with immense growth as bust fears fade (Reuters)

 

How biotech funding will change in the next 10 years (Y Combinator)

 

Why Disney's new Star Wars park was a flop and why that will change (Intelligencer)

 

 

SPOKEN WORD

 

TOP LISTEN: Russell Clark discusses how Chinese currency valuation could trigger a global recession (Real Vision Finance)

 

Josh Wolfe discusses innovation and investing (Masters in Business)

 

John Hempton on what's ailing bank stocks (Odd Lots)

 

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