The single greatest edge an investor can have is a long-term orientation.
– Seth Klarman

Companies

Are Rolls Royce shares worth buying after their 40% decline?
An interesting look at RR’s pension liabilities and debt after the stock declined on profit warnings. The comments are also worth a look.

3D Printing Creates New Parts for Aircraft Engines
In 2016, GE Aviation will introduce the first 3D-printed parts in an aircraft engine platform.

Password Sharing: Are Netflix, HBO Missing $500 Million by Not Cracking Down?
The real problem is, SVOD providers really can’t block unauthorized users if they have a legit password without instituting an additional form of authentication. Netflix and HBO want to make it as easy as possible to watch their streaming services; if they started asking for your mother’s maiden name or some other proof you’re entitled to the goods, customers would get irritated.

7 Rejections
By the co-founder of Airbnb

Markets

This Spanish Ghost Airport Sold for Less Than $11,000
Although it does intend to invest millions redeveloping.

China Ends Mystery of Gold Hoard to Top Russia’s Holdings
China boosted bullion assets to 53.31 million troy ounces, or about 1,658 metric tons, the People’s Bank of China said in a statement Friday. That’s up from 1,054 tons in 2009, when it last updated the figures. The U.S. has the biggest reserves at 8,133.5 tons, data from the World Gold Council show.

Investing

A Visual History of Market Crash Predictions
When wading through the predictions of financial doom and gloom ahead, keep in mind one key component of human nature.

The end of capitalism has begun
Without us noticing, we are entering the postcapitalist era. At the heart of further change to come is information technology, new ways of working and the sharing economy. The old ways will take a long while to disappear, but it’s time to be utopian.”

What I Learned Being a Janitor and How Cleaning Toilets Helped Me to Be a Better Investor
By Jae Jun

Long reads

Unhealthy Fixation
The war against genetically modified organisms is full of fearmongering, errors, and fraud. Labeling them will not make you safer.

5 Reasons Actual Ants Are Way More Impressive Than Ant-Man
Sometimes, science trumps superheroes.

The Really Big One
An earthquake will destroy a sizable portion of the coastal Northwest. The question is when.

Graph of the week

Capital Cities/ABC split adjusted share price

Source: qz.com
Source: qz.com
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