Stuff I consumed this week #SITC2
“You don’t need complicated Einstein formulas to make money in the markets. You do need to be disciplined and comfortable with yourself. No matter how good of a trader you think you are, the markets are going to screw with your head and test your mental fortitude”
Mark B. Fisher from the book “The Logical Trader”
Comments from me: I’ve been spending a lot of time really examining my process, my portfolio allocation and the general macro environment which is reflected in the links this week. I’ve been pretty busy lately which explains the lack of posts, but I plan on releasing a write up on a company I haven’t spoken about much in the discord: MAXR. I think I haven’t because it’s hard to do a formal write up on a company - it’s not my style. I think I’ll experiment with different write up styles until I find something I’m comfortable with.
The must consumes this week:
The Grant Williams Podcast: Felix Zulaf Felix is a well-known and very respected macroeconomic expert. This conversation with him gives an overview of what we’ve seen so far and what we can expect in 2023.
Sources of Edge, Bill Miller This short memo focused on what Bill Miller believes are the 3 sources of edge an investor can possess.
The rediscovered lectures of Benjamin Graham 1946/47 As some may know, my style does not necessarily rely exclusively on quantitative analysis and prefer to look for inflections in a general undervalued unloved industry. Nonetheless, it’s part of my process and Benjamin Graham content always makes for a valuable and insightful read.
Elliott Management Investment Letter Pretty pessimistic letter from Elliott Management but good history lessons within and an interesting outlook that should be considered.
Stock Based Comp: The usual opinions by NonGaap Investing Stock based compensation is an interesting topic and considering the amount of software companies that utilize SBC, this makes for an interesting read and I’m looking forward to more issues.