Warren Buffett made 95% of his wealth after the age of 65. Success has no age limit, and your best days are not behind you.
— MicroCapClub (@iancassel) July 28, 2015
Day: July 28, 2015
Are we doomed to repeat our mistakes?
The bottom line is that even though knowing financial history is important, requiring people to study it won’t make a big difference, because they’ll ignore its lessons. There’s a very strong tendency for people to believe in things which, if true, would make them rich. Demosthenes said, “For that a man wishes, he generally believes to be true” Just like in the movies, where they show a person in a dilemma to have an angel on one side and a devil on the other, in the case of investing, investors have prudence and memory on one shoulder and greed on the other. Most of the time greed wins. –said Howard Marks
Scuttlebutt Lessons
Source:Pragmatic Investing
Linkfest:July 28,2015
Some stuff that I am reading today morning:
Market crashes (Mint)
Why are rich Indians fleeing the country? (Firstpost)
Is M&M India’s version of Berkshire Hathaway? (Beyond Proxy)
HDFC Sec Research Report: Asian Paints (MyIris)
Should you opt for a direct plan for Mutual Funds? (Morningstar)
Gold is doing well compared to other commodities (Macro Man)
One way to beat the market-be different (Alpha Architect)
A dozen things I’ve learned from Paul Tudor Jones about investing (25IQ)
Mumbai is overflowing with garbage (Bloomberg)
Obituary:APJ Abdul Kalam (NYTimes)