“We have to practice defensive investing, since many of the outcomes are likely to go against us. It’s more important to ensure survival under negative outcomes than it is to guarantee maximum returns under favorable ones.” ― Howard Marks, The Most Important Thing: Uncommon S...

If you took our top fifteen decisions out, we’d have a pretty average record. It wasn’t hyperactivity, but a hell of a lot of patience. You stuck to your principles and when opportunities came along, you pounced on them with vigor. –Charlie Munger

“Einstein was right about relativity, but even he would have had a difficult time applying relative valuation in today’s stock markets.” – Prof. Aswath Damodaran

The harm which a tariff does is invisible. There are people that don't have jobs because of tariffs but they don't know it. - Milton Friedman H/t Fat Tailed and Happy

All intelligent investing is value investing.

Still true.

Are you a DIYer? Here's a good, free way to track your portfolio. bit.ly/36EFOeM

Ever get confused about changes in working capital and calculating free cash flow? Here's help. bit.ly/2Zjqp0c

Cash is king, and analyzing it should be a big part of your investment process. bit.ly/2sdtumc

Channel your inner Graham. bit.ly/33p8qGH

Handy, statement-by-statement notes and tips from a book that we read so you don't have to. bit.ly/34II8kh

The question heard 'round the world. bit.ly/36ZO4oS

What does maintenance CapEx mean, again? bit.ly/2EIouJ0

New to Buffett world? Learn what he means by "owner earnings." bit.ly/2QaCnVy

DCFs are really sensitive to growth rates, so how should you think about them? bit.ly/376SqKL

My preferred method of calculating a stock's intrinsic value, but not one to apply without knowing it inside and out. bit.ly/360ZLM9

Learn about Graham's "cigar butt" investing. bit.ly/2rn0QPd

Understanding inventory can help you understand profitability. bit.ly/2MRiCld

It's all about intrinsic value. Here's an overview of 8 ways to value stocks. bit.ly/2Qq7dd9

10 Ways to Thrive in a Bear Market and Recession bit.ly/3xuCdOB