I recently came across a 1976 interview with Ben Graham for the CFA journal.  It was very interesting to hear his reflections on the financial industry in his twilight years.  What struck me was his thinking on simplifying the investment process and a somewhat cynical view on the industry and its participants.

I've read Shane Parrish's Farnam Street blog for years, and as a result have developed a real appreciation for Charlie Munger's approach to investing and thinking and life. I'm so glad I finally read Shane's transcript of Munger's Herb Kay Memorial Lecture from 2003. I'd encourage you to take the time to read the entire speech, as he covers so much ground with his signature mix of dry humor and healthy cynicism.

Fantastic article from Mindful magazine this morning about combatting confirmation bias.  As a reminder, confirmation bias is where you first develop a thesis ("I'm bullish.") and then you look for evidence to support this opinion...

I wrote a piece earlier for stockcharts.com discussing home bias, which is the tendency for people to own companies that are located close to their home.  One of the ways I suggested to combat this bias was to make sure to screen for stocks across markets and regions...

"It's better to be approximately right than precisely wrong."  -unknown

I was listening to Barry Ritholz's interview with Professor Andrew Lo from MIT yesterday and I actually drove the long way home just to catch the end of it.  What a fascinating discussion that touched on so many meaningful topics...

Anyone that has visited Italy may be familiar with an Italian concept called "La Dolce Far Niente."  Loosely translated as "The Sweetness of Nothing," it embodies the carefree approach to life that you may find strolling through Florence or Naples...

"Become more humble as the market goes your way." -Bernard Baruch

Thus begins a fantastic post by Ben Carlson over at A Wealth of Common Sense, all dealing with the psychological struggles of an investor in a bull market...

Recency bias is a common behavioral phenomenon where we tend to pay more attention to more recent data.  To take a step further, we often assume that whatever has happened recently (for example, a series of up days) will continue to happen...