Catch-up on Our Shows From This Week:
3 Good Reads:
1 Good Listen:
***SPECIAL PROMOTION: For the months of November and December, use our promo code “chitchat” at checkout and get $50 OFF an annual subscription at 7investing. Sign-up here.
Smart and Funny Tweets:
Harvard made 9.2% over the last decade. The Nevada pension - which uses passive vehicles - has made 10.1% over the last decade.
The manager - Steve Edmundson - makes $127k/year to implement and manage it.
The manager of the Harvard endowment makes $8.6 million/year.
EndowmentLP @EndowmentLP
1/ This week's Q3 earnings call w/ $FB will likely go down as one of the biggest bets in history. IMO they'll spend >$170B over the next decade on building the metaverse. Since it's my largest position, I've been spending a lot of time reflecting. Attached are my "scratch notes"
Live footage of Bill Gates and Steve Ballmer after hearing Microsoft ($2.49T) just took over Apple ($2.48T) to become the world’s most valuable firm
Just sold my car to Carvana. A few observations
1/ Used car pricing is insane.
I had a 2015 Civic with 103k miles that I bought for ~$19k (new). First offer from Carvana in April was for ~$10k. Just sold the car for $12.8k. (If I needed to replace it, I would not have sold.)