Some links (01/2017)

Guy Spier discusses his failed Horsehead investment

Michael Mauboussin on active vs. passive

John Hempton on when to average down 

The Fundoo Professor and Charlie Munger on the diffêrences between buying and holding a stock

Eddy Elfenbein had a tough 2016, but his 2017 buy list is still a must read

Some interesting thoughts on Amazon’s “Operating System”

Nice story on Oscar, the US Health Insurance start-up


  • When reading through the Horsehead-letter of Guy Spier I had to think of you, because more than once you wrote as an answer to my questions, that especially when the stock price goes down you have to ask yourself ‘what does the market know, that I don’t’. As we could read, Mr. Spier now officially added this point to his checklist, too 🙂

  • Thank you for sharing this!
    The Horsehead/Zinc Story would be good material for Michael Lewis (The Big Short). Very interesting stuff.

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