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Sunday Reads and Listens - Nothing Changes Sentiment Like Price
Howard Lindzon
July 23, 2023
Happy Sunday and good morning.
This morning I will be riding and checking in on the final round of The British Open. I may play this afternoon.
Most weekly newsletters end with fun ‘meme’ links, but I like to start with them. This one from Stocktwits was great:
As my friend Helene Meisler says…there really is nothing like price to change sentiment.
Onward…
Ellen and I saw Oppenheimer this week. We like the movie theatre in Hillcrest (San Diego) called The Landmark. I liked the movie, even though it was long and a bit hard to follow. Morning Brew had a quick summary of the man himself titled ‘The True Story of Oppenheimer’ which may be useful to read before going.
While on subject of movies, Harpers Bazaar had a deep dive story/interview with Reese Witherspoon. I enjoyed it.
A lot more good reads today…here goes
The ideal ‘rich and anonymous’ by Morgan Housel.
On trends I am cool with…
Bringing back the Automat. I am all for self serve dumplings.
America is becoming the early bird nation.
On investing…
This Seth Klarman and Ted Seides podcast discussing Seth’s timeless value investing is great. Have a listen.
Another good listen…How Private Equity is Plundering America. The ‘continuation funds’ that private equity groups set up to buy their own companies is just ridiculous.
The weekly Lumida Wealth newsletter (free) is excellent and covers so many markets from crypto to real estate to wealth management.
Is cash the best insurance investment? A timeless question.
A few on Health that caught my interest this week…
This made me laugh…Noom the weight loss ‘data’ service now offering Ozempic.
On AI:
I liked Michael’s post that looks at Tik Tiok specifically from the bookend posts of Fareed Zakaria…
This Sunday, let’s focus on two consecutive weekend op-ed pieces by geopolitical commentator Fareed Zakaria, which revolve around TikTok. The globally recognized entertainment app, TikTok, has garnered global attention with its AI-driven “For You” algorithm, captivating hundreds of millions across demographics. Now emulated by tech companies large and small.
Fareed’s first op-ed on April 7, 2023, titled “Why banning TikTok won’t do any good”. He followed a week later on April 14 with “TikTok is dangerously addictive. We should regulate it now.”
Both are worth reading, but let me summarize why I’m highlighting them together as bookends now.
I will end with this great quote from Matej Mohoroc after winning a photo finish stage of The Tour De France this weekend…
“It means a lot because it's hard and cruel to be a pro cyclist. You suffer a lot in preparation, you sacrifice your life and your family and do everything you can to be ready. Then after a couple of days you realize everyone is so incredibly strong that it's hard to follow the wheels sometimes.”
“The other day on the Col de la Loze I was completely tired and empty and done with it. You have to go all the way to the top and across to the finish then do it again the next day. You see staff wake up at 6am and go for an hour run, then finish their work at 11 or midnight.”
“Sometimes you feel like you don't belong here because everyone's so incredibly strong, you struggle to follow the wheels - even today I was thinking how you know the guy who is pulling is suffering as much as you do."
“Every single rider [here] would deserve to win - I saw the faces on the Col de la Loze - you know what everyone is going through."
Have a great Sunday.
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