Weekend Reading Links: NBA, Less Wrong, Reservations, EV/EBIT, Becoming a Polymath, and More.

The Atlantic – The Four Horsemen May Charge Over The Earth — But Coca Cola Will Remain.

Farnam Street – Thomas Bayes and Bayes’s Theorem.

Aeon – Anyone Can Learn To Be A Polymath.

Safal Niveshak – Life & Money Lessons From Kantilal.

Oddball Stocks – Completebankdata.com.  This is Nate from Oddballs Stocks new site that helps you to research banks with its great software instead of having to do all the searching yourself.

Greg Speicher – EV/EBIT Ratio Trumps P/E Ratio.

The New York Times – Treasure Hunters of the Financial Crisis.

Mises – Native American Reservations: Socialist Archipalego.  I found this article very interesting myself living within a few hours drive of some reservations and some of the poorest ones in the country at that.

Less Wrong – On Learning Difficult Things.  This site was recommended to me by Valueprax and is a site I have learned from since then.  I like to consider myself a pretty bright guy but the people who post on this site are at a completely higher level of smart.  Some of the topics and discussions (called sequences) on the main site include: Reductionism, ethics of artificial intelligence and the singularity, evolution, the philosophy of zombies (not the zombies you are thinking about), self-deception, rationality, quantum physics, etc.  If you like to think, read, learn, and you have an open mind this site is absolutely amazing.

Forbes – Revisiting The Greatest Sports Deal Of All Time.  An update to this article is below.

Bleacher Report – NBA Negotiating With The Silna Brothers To Remedy Their Egregious $300 million mistake.

Weekend Reading Links: Building Wordly Wisdom Put Into Practice

As I talked about in this post I have been building my wordly wisdom and mental models for a while now since nearly every company I want to buy I estimate to be overvalued currently.  I have expanded my reading to my other interests which are all over the map.  I will be sharing some of my favorite articles with you over the coming weeks and hope you learn something from them like I have.  Don’t worry, a lot of them will still be investing related or the thinking can be applied to investing.  For the rest I just find them either interesting or intellectually stimulating.

The New York Reviews of Books – Physics: What We Do And Don’t Know.

Project Syndicate – Measure for Mismeasure.

Microcap Club – The Value Of Net Operating Losses.  EXTREMELY IMPORTANT as it pertains to valuations.

Farnam Street – Evolution is Blind But We’re Not.

Farnam Street – Marcus Aurelius on How To Act and Four Habits of Thought To Eliminate.

Motherboard – Is Robert Zubrin America’s Best Hope For Colonizing The Red Planet?

Greg Speicher – Henry Singleton: A Master of Capital Allocation.

The Washington Post – Studying Chinese To Reach His Parents.

Youtube Video – America is the Microsoft of Nations.

Bruce Kasanoff – Huge Decisions Require The Rocking Chair Test.

Links From Geoff Gannon, Oddball Stocks, Greg Speciher, OTC Adventures, GuruFocus, MicroCapClub, and Others

I hope everyone had a great Thanksgiving weekend.  Other than eating great food and spending time with family I also got a lot of work done.  I spent a lot of this weekend looking into Wendy’s as a possible investment and my article about them should be up later this week.  I also spent a lot of time catching up on articles that I have been saving to read, some of which I will be sharing with you below.

Oddball Stocks: My Investment Process Applied To eOn, a net net trading at 3X FCF.

Geoff Gannon: When To Sell A Stock.

OTC Adventures: Retail Holdings NV $RHDGF

Pick The Brain: The One And Only Law Of Success

Columbia Business School: Think Small, A Different Perspective On Economies of Scale.

MicroCap Club: 8 Habits of Highly Effective Micro Cap CEO’s

Greg Speicher: Comprehensive Resources On Charlie Munger

MicroCap Club: The Case For Micro Caps

Geoff Gannon: The Most Time Efficient Way To Find Cheap Stocks

Value Uncovered: Tessi, High Quality Owner Operator

Weekend Reading Links About Valuations

With all the research I have been going lately I have gotten way behind on posting links so here are a bunch that I think are very good and found them very helpful. Take a look at them below:

Atul Gawande: Excellence Is Recognizing Details, Failures

The Price Of Paying Attention

How Not To Run A Hedge Fund: Geoff Grant Edition

Advice From Jeff Bezos

How Did R.A. Dickey Master The Knuckleball

Jason Zweig Interviews Seth Klarman

How Did I Come Up With My 16 JNets

What Drives Operating Metrics?

Free Ebook: 115 Profitable Investing Ideas

How Buffett Made Money In Bad and Volatile Markets

Weekend Reading Links: Klarman, Munger, Buffett, Valuation, and Learning

The new company I was researching turned out to be another bust after valuation.  I found the Australian company to be in a range from fairly valued at the high end of my intrinsic value estimate to overvalued by as much as 70% from my low estimates of value and have decided to not do any further research on it at this time, especially since its margins were not very good either.

For now, I am going to be reading some books over the coming days and then it’s back to searching for more companies to research.

Seth Klarman On Leadership.  This video is from ValuePrax and contains some very valuable insights from the reclusive Klarman.

Charlie Munger Lecture at the Harvard-Westlake School.  This interview is from Santangel’s Review and contains Mungers thoughts on the recent financial crisis.

Alice Schroeder On How Buffett Values a Business and Invests.  This is yet another article from Greg Speicher that contain Ms. Schroeder’s thoughts on how Warren Buffett looks at business.

Valuation: Valuing Growth and the Petersburg Paradox.  This is from Csinvesting and the page also has some links to papers that talk about different things valuation related.

I Learned To Speak Four Languages In a Few Years: Here’s how.  This is a write up from LifeHacker about the techniques that helped the author learn four languages in a relatively short amount of time.  This is fascinating to me because I have always wanted to learn a new language and have recently started learning a bit of Spanish.