Never walk without a document in your hand.”
– David Brent


Buffett Builds Rail Superhighway to Grab Truck Freight
After this year, BNSF Railway Co. will be more than 99 percent finished with a second, parallel line to its 2,200-mile (3,500-kilometer) Los Angeles-to-Chicago route.

Charlie Munger’s Last Meeting
On Investments: Charlie’s investment philosophy in a nutshell– patience and opportunism.  “When you see a great investment idea.  Be bold.”


The share buyback mirage
Wealth is transferred from shareholders to executives, helping to explain why executive rewards have far outpaced economic growth or shareholder returns.”

Why Are Corporate Profit Margins So High?
The main driver of falling profits in the last few years is the reduction in the deficit.”


Keeping Things Simple and Tuning out Folly
More information doesn’t equal more knowledge or better decisions.”

Long reads

Elitism in Britain – breakdown by profession
Just 7% of the UK public attended private school, which compares to 71% of senior judges, 62% of senior armed forces officers, 55% of Whitehall permanent secretaries and 50% of members of the House of Lords.”

Graph of the week

Investor Sentiment and the Business Cycle


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