Crown Castle International Corp.[Value investing]

Keith Meister Robin Hood Investors Conference 10-21-14 Public by marketfolly.com

The Inside Job[video]

Inside Job full movie hd by AAAliAhmad

Patents and history in one chart

via: cfainstitute

Weekend Longform Linkfest

15 TRUTHS THAT FEW BELIEVE http://www.millennialinvest.com/blog/2014/10/2/15-truths-that-few-believe …
Sale: Apple Shares at Half Price http://carlicahn.tumblr.com/post/99561448231/sale-apple-shares-at-half-price …
A memoir of gratification: How the marshmallow test became Walter Mischel's life work http://econ.st/1w1LW7v 
Inside An $8 Billion Family Feud: Who Poisoned The Orkin Fortune? http://www.forbes.com/sites/clareoconnor/2014/09/29/inside-the-3-billion-feud-tearing-georgias-rollins-family-apart/ …
Charlie Munger And The 2014 Daily Journal Annual Meeting: A Fan's Notes http://www.forbes.com/sites/phildemuth/2014/09/19/charlie-munger-and-the-2014-daily-journal-annual-meeting-a-fans-notes/ …
McKinsey’s manicures are a tacky way to nail recruits http://www.ft.com/intl/cms/s/0/fd7e4fb4-4a63-11e4-bc07-00144feab7de.html?siteedition=intl#axzz3FlvvH4Lp …
CNBC Transcript: Legendary Investor Warren Buffett Speaks with CNBC's Becky Quick on the Nationally Syndicated http://www.cnbc.com/id/102057905
Richard Branson: Virgin’s stunt man http://www.washingtonpost.com/blogs/on-leadership/wp/2014/09/26/richard-branson-virgins-stunt-man/ …
“Collaborators don’t make discoveries. Leaders make discoveries,” investor tells students http://mitsloan.mit.edu/newsroom/2014-sam-zell.php …
Grossing Up for Success http://www.cornercap.com/blog/grossing-success …
Boyle Asset Management Letter link
Want to start a startup? http://www.paulgraham.com/before.html

Quote on Volatility

As we said in our Annual Letter, “The greatest buying opportunities arise when liquidity is in short supply and anxious investors, consumed by fear, are forced to sell securities as prices fall. Leaving the party early will almost always result in short term underperformance during the later stages of bull markets, but it is the only way to ensure that you have the resolve, the discipline, and the dry powder to buy when risk is lowest and expected returns highest.”

via: Boyle 

Peter Thiel on his new book[video]

To profit as a value investor you must

To profit as a value investor you must:

1. find an instance where the crowd is wrong,
2. that gap must be within your circle of competence, and
3. the value of the asset purchased must substantially exceed the price paid (e.g., 25%), so you have a margin of safety which can allow you to profit even if you make a mistake or suffer from bad luck.

Since these three things happen at the same time only occasionally, most of the time you should do nothing. Since inactivity tends to be contrary to human nature, learning to be patient and yet aggressive when the time is right is a trained response.  This is part of the reason why value investing is simple, but not easy.

via: 25iq

LInkfest

SCOTT ADAMS, CREATOR OF DILBERT: HOW FAILING IS THE SECRET TO SUCCESS [podcast] http://askaltucher.com/dilbert/ 
Bill Gates Talks Ebola, MSFT, Bitcoin and More [VIDEO] http://www.valuewalk.com/2014/10/bill-gates-talks-ebola-msft-bitcoin-video/ …
One simple invention to help stop Ebola: The incredible rubber glove http://theatln.tc/1nQEzRk 
Watching Charlie Rose: David Feherty; Peter Thiel; HDS Greenway on @CharlieRose: http://hulu.com/w/l1oo 
Watching Charlie Rose: Former President Bill Clinton on @CharlieRose: http://hulu.com/w/l4dc 
Charlie Munger And The 2014 Daily Journal Annual Meeting: A Fan's Notes http://www.forbes.com/sites/phildemuth/2014/09/19/charlie-munger-and-the-2014-daily-journal-annual-meeting-a-fans-notes/ …
The marriage market http://www.economist.com/blogs/democracyinamerica/2014/09/marriage-market …
Creating shared value: http://hbr.org/2011/01/the-big-idea-creating-shared-value

Horrifying Photos of China's Dog-Eating Festival—and the Activists Who Are Trying to Stop It http://www.newrepublic.com/article/119223/photos-yulin-chinas-dog-meat-eating-festival-2014 …

Buffet on Investment Strategy[recent interview]

A few words from Charlie Munger

"We all are learning, modifying, or destroying ideas all the time. Rapid destruction of your ideas when the time is right is one of the most valuable qualities you can acquire. You must force yourself to consider arguments on the other side." — Charlie Munger

"The ability to destroy your ideas rapidly instead of slowly when the occasion is right is one of the most valuable things. You have to work hard on it. Ask yourself what are the arguments on the other side. It's bad to have an opinion you're proud of if you can't state the arguments for the other side better than your opponents. This is a great mental discipline." — Charlie Munger

via: FarnamStreet

Paul Graham video[How to Start a Startup]