Digital Museum of Wenbin - Latest items and digestshttps://www.wenbin.orgThe developer of ListenNotes.com, microfeed.org, PodcastAPI.com, Listen411.com and CurateKit.com. I like curating things. The world is a museum without walls.enWenbin FangTue, 11 Aug 2026 20:28:08 +0000https://cdn-media-1.curatekit.com/images/collection/4Ai6v-pfrY2/019cf4ee3dbd7a3aad1f82418ad6cd14.pngDigital Museum of Wenbin - Latest items and digestshttps://www.wenbin.orgThe Google Capital Company – Stratechery by Ben Thompsonhttps://www.wenbin.org/i/gUJi1njcV3w/"Berkshire Hathaway is See’s Candies, and Google is BNSF."Tue, 11 Aug 2026 20:28:08 +0000item:gUJi1njcV3w17864800887182026-08-11T20:28:08.718000+00:00ADfalsenative americans sold manhattan to dutch for $24 in 1620s. At 8% growth rate, that $24 would become $562 trillion today, roughly 18x USA GDP, able to buy today’s whole new york real estate for hundreds of timeshttps://www.wenbin.org/i/fwkDGgV2Tvx/One of my favorite compound-interest thought experiments: The famous story says Manhattan was “sold” to the Dutch for about $24. Imagine that $24 had instead been invested in 1626 and earned an average 8% annual return, compounded for 400 years. By 2026, it would have grown to roughly $562 TRILLION. For perspective: • That’s about 18× an entire year of U.S. GDP • Roughly 340× the value of ALL NYC real estate using official property valuations • Potentially enough to buy the real estate of Manhattan hundreds of times over $24 → $562,000,000,000,000. The historical “$24 purchase” story is oversimplified, of course—but as a lesson in exponential growth, it’s incredible. Over long enough periods, time matters almost as much as the rate of return.Tue, 11 Aug 2026 16:49:34 +0000item:fwkDGgV2Tvx17864669743212026-08-11T16:49:34.321000+00:00ADfalseMilton Friedman on 4 ways to spend money: 1) Your money on yourself (you’re careful about both cost and quality) 2) Your money on others (you care about cost, less about quality) 3) Someone else’s money on yourself (you care about quality, not cost) 4) Someone else’s money on others (you care about neither)https://www.wenbin.org/i/rP5TXeR8hLK/Milton FriedmaSun, 09 Aug 2026 15:22:41 +0000item:rP5TXeR8hLK17862889611252026-08-09T15:22:41.125000+00:00ADfalseSales advicehttps://www.wenbin.org/i/VOZ_DQ0aTlz/Yes, there are tons of resources but I'll try to offer some simple tips. 1. Sales is a lot like golf. You can make it so complicated as to be impossible or you can simply walk up and hit the ball. I've been leading and building sales orgs for almost 20 years and my advice is to walk up and hit the ball. 2. Sales is about people and it's about problem solving. It is not about solutions or technology or chemicals or lines of code or artichokes. It's about people and it's about solving problems. 3. People buy 4 things and 4 things only. Ever. Those 4 things are time, money, sex, and approval/peace of mind. If you try selling something other than those 4 things you will fail. 4. People buy aspirin always. They buy vitamins only occassionally and at unpredictable times. Sell aspirin. 5. I say in every talk I give: "all things being equal people buy from their friends. So make everything else equal then go make a lot of friends." 6. Being valuable and useful is all you ever need to do to sell things. Help people out. Send interesting posts. Write birthday cards. Record videos sharing your ideas for growing their business. Introduce people who would benefit from knowing each other then get out of the way, expecting nothing in return. Do this consistently and authentically and people will find ways to give you money. I promise. 7. No one cares about your quota, your payroll, your opex, your burn rate, etc. No one. They care about the problem you are solving for them. There is more than 100 trillion dollars in the global economy just waiting for you to breathe it in. Good luck.Thu, 06 Aug 2026 04:40:47 +0000item:VOZ_DQ0aTlz17859912478912026-08-06T04:40:47.891000+00:00ADfalseQ: What happened 1973 and 1974 when your investment firm lost over half?https://www.wenbin.org/i/aTEgVRZhUPb/Charlie Munger: Oh, that’s very simple. That’s very easy. That’s a good lesson. That’s a good question. What happened is the value of my partnership where I was running, went down by 50% in one year. Now the market went down by 40% or something. It was a once in 30 year recession. I mean monopoly newspapers are selling at 3 or 4 times earnings. At the bottom tick, I was down from the peak, 50%. You’re right about that. That has happened to me 3 times in my Berkshire stock. so I regard it as part of manhood. If you’re going to be in this game for the long pull, which is the way to do it, you better be able to handle a 50% decline without fussing too much about it. And so my lesson to all of you is conduct your life so that you can handle the 50% decline with aplomb and grace. Don’t try to avoid it. (applause) It will come. In fact I would say if it doesn’t come, you’re not being aggressive enough.Sat, 25 Jul 2026 21:57:06 +0000item:aTEgVRZhUPb17850166267492026-07-25T21:57:06.749000+00:00ADfalseThe longer you stay on the wrong train, the more expensive it is to get home.https://www.wenbin.org/i/F63qgkKuRVH/Fri, 24 Jul 2026 10:49:47 +0000item:F63qgkKuRVH17848901871182026-07-24T10:49:47.118000+00:00ADfalse“Buy good companies. Don’t overpay. Do nothing.https://www.wenbin.org/i/xV-crjNaD2S/Terry SmithTue, 21 Jul 2026 05:45:46 +0000item:xV-crjNaD2S17846127460782026-07-21T05:45:46.078000+00:00ADfalseWho’s Afraid of Chinese Models? – Stratechery by Ben Thompsonhttps://www.wenbin.org/i/d6ycVTtPobr/Tue, 21 Jul 2026 01:49:06 +0000item:d6ycVTtPobr17845985464742026-07-21T01:49:06.474000+00:00ADfalseThe trick in investing is to find businesses that are going to earn high returns on capital for an extended period of time. That's what happened with Berkshire. The long period of time gets to be very important b/c those doubles later on are very big numbers.https://www.wenbin.org/i/PiDSm9-VITE/Warren BuffettMon, 20 Jul 2026 04:41:58 +0000item:PiDSm9-VITE17845225184872026-07-20T04:41:58.487000+00:00ADfalseProduct shape as moathttps://www.wenbin.org/i/FGTuIDPmBrz/No matter how smart you are, you can't create the best toaster that is also the best kettle. We don’t use many Swiss Army knife products at all. The competitiveness between everything in AI is a symptom of unoriginality. Most companies are still focused on the terminal interface of AI: chat.Fri, 17 Jul 2026 00:03:56 +0000item:FGTuIDPmBrz17842466366512026-07-17T00:03:56.651000+00:00ADfalseIf you had invested $10,000 in Apple on June 6, 1983, by April 17, 2003, you’d be sitting on $8,400.https://www.wenbin.org/i/wKtQXPF-IfM/Thu, 16 Jul 2026 20:02:30 +0000item:wKtQXPF-IfM17842321504122026-07-16T20:02:30.412000+00:00ADfalseJuly 2026: Costco has 82.9m paid members worldwide (US & Canada ~45m); total card (including free family cards) holders 148.5m.https://www.wenbin.org/i/LQsD5ergC_u/Executive members 41.2m (or 49.7%). Executive members also generate about 75% of Costco’s worldwide salesWed, 15 Jul 2026 19:41:21 +0000item:LQsD5ergC_u17841444818782026-07-15T19:41:21.878000+00:00ADfalseBanks earn 13-14% on capital, but American Express (Berkshire's second largest equity investment) earns 30% on capital without additional risk.https://www.wenbin.org/i/PF6lySfCG2k/Warren BuffettWed, 15 Jul 2026 15:17:35 +0000item:PF6lySfCG2k17841286556902026-07-15T15:17:35.690000+00:00ADfalseFocus by bozhttps://www.wenbin.org/i/R_r-PNqSXtW/Early facebook cultureFri, 10 Jul 2026 04:53:50 +0000item:R_r-PNqSXtW17836592307192026-07-10T04:53:50.719000+00:00ADfalseRewriting Bun in Rust | Bun Bloghttps://www.wenbin.org/i/qCaKfj2zVcQ/11 days, US $165,000 worth tokensThu, 09 Jul 2026 19:08:37 +0000item:qCaKfj2zVcQ17836241170392026-07-09T19:08:37.039000+00:00ADfalseHe Earns $33 an Hour as a Costco Cashier. Now He’s a Millionaire.https://www.wenbin.org/i/3U8GJh7coj2/"Many thousands of Costco’s U.S. hourly workers have over $1 million in their 401(k) accounts"Thu, 09 Jul 2026 19:07:52 +0000item:3U8GJh7coj217836240726092026-07-09T19:07:52.609000+00:00ADfalseEither write things worth reading, or do things worth the writing.https://www.wenbin.org/i/84upPwZMGAK/Benjamin FranklinSun, 05 Jul 2026 17:06:40 +0000item:84upPwZMGAK17832712005162026-07-05T17:06:40.516000+00:00ADfalseThe Anti-Amazon - Benjamin Y. Fonghttps://www.wenbin.org/i/b9SHFdPuX2D/Fri, 03 Jul 2026 19:01:39 +0000item:b9SHFdPuX2D17831052993522026-07-03T19:01:39.352000+00:00ADfalseThe Hitchhiker's Guide to Agentic AI: From Foundations to Systemshttps://www.wenbin.org/i/43vEewTdDyX/The Hitchhiker's Guide to Agentic AI is a comprehensive practitioner's reference for building autonomous AI systems. The book covers the full stack from first principles to production deployment, organized around a central thesis: building great agentic systems requires understanding every layer of the pipeline, not just one. The book opens with the LLM substrate -- transformer architecture, GPU systems, training and fine-tuning (SFT,LoRA, MoE), model compression, and inference optimization -- treated as essential foundations rather than the primary focus. It then develops the alignment and reasoning layer: reinforcement learning from human feedback (RLHF), PPO, DPO and its variants, GRPO, reward modeling, and RL for large reasoning models including chain-of-thought and test-time scaling. The second half is devoted to agentic AI proper. Topics include agentic training and trajectory-based RL, retrieval-augmented generation (RAG and Agentic RAG), memory systems (in-context, external, episodic, and semantic), agent harness design and context management, and a taxonomy of agent design patterns. Inter-agent coordination is covered in depth: the Model Context Protocol (MCP), agent skills and tool use, the Agent-to-Agent (A2A) communication protocol, and multi-agent architectures spanning centralized, decentralized, and hierarchical topologies. The book concludes with agent development frameworks, agentic UI design, evaluation methodology for agentic tasks, and production deployment. Each chapter pairs rigorous theoretical foundations with implementation guidance, code examples, and references to the primary literature.Mon, 29 Jun 2026 15:50:36 +0000item:43vEewTdDyX17827482360772026-06-29T15:50:36.077000+00:00ADfalseAs the Tide Turns Against Putin, Beware the Drowning Manhttps://www.wenbin.org/i/noOuAMdpc7N/Like a struggling swimmer, he may take desperate measures to stay afloat.Sat, 27 Jun 2026 19:32:15 +0000item:noOuAMdpc7N17825887350042026-06-27T19:32:15.004000+00:00ADfalseHints for computer system design (1983)https://www.wenbin.org/i/dcTMrHlIXDv/About “naming”Fri, 26 Jun 2026 16:19:44 +0000item:dcTMrHlIXDv17824907843632026-06-26T16:19:44.363000+00:00ADfalseI did not conquer half the world by listening to men who had conquered nothinghttps://www.wenbin.org/i/3Ci4rHv_GOa/Alexander the GreatFri, 26 Jun 2026 01:24:28 +0000item:3Ci4rHv_GOa17824370680532026-06-26T01:24:28.053000+00:00ADfalseThe Mauritshuis: The most beautiful museum in The Haguehttps://www.wenbin.org/i/jpb02thfNW_/The Mauritshuis is home to the best of Dutch painting from the age of Rembrandt and Vermeer. Admire Masterpieces such as the Girl with a Pearl Earring, 11 Rembrandts and The Goldfinch at the Mauritshuis in The Hague!Fri, 19 Jun 2026 02:23:58 +0000item:jpb02thfNW_17818358386182026-06-19T02:23:58.618000+00:00ADfalseHow We Made Cloud Browsers 3x Cheaper and Fasterhttps://www.wenbin.org/i/RNancFjzP1U/We cut browser sessions from $0.06 to $0.02 per hour while making browsers start and scale faster.Wed, 17 Jun 2026 20:16:17 +0000item:RNancFjzP1U17817273771892026-06-17T20:16:17.189000+00:00ADfalseWhen Warren Buffett started his early partnership, he had ~$170k savings (roughly $1.5m to $2m in today’s money) , the initial investment capital was ~$105k (roughly $1m in today’s money) raised from familyhttps://www.wenbin.org/i/4oV_N-wavr0/He was 25 year oldTue, 16 Jun 2026 04:43:45 +0000item:4oV_N-wavr017815850257142026-06-16T04:43:45.714000+00:00ADfalseNothing is particularly hard if you divide it into small jobs.https://www.wenbin.org/i/vVjtO17EXW-/Henry FordSat, 13 Jun 2026 12:43:31 +0000item:vVjtO17EXW-17813546114042026-06-13T12:43:31.404000+00:00ADfalseIf You are Asking for Human Attention, Demonstrate Human Effort | Tom Bedor's Bloghttps://www.wenbin.org/i/uCe7Z8sLrJg/This is more about coworkers in a company. But i feel the same as media consumption: ai-slop podcasts/videos shouldn't deserve human attention.Sat, 13 Jun 2026 00:13:37 +0000item:uCe7Z8sLrJg17813096177092026-06-13T00:13:37.709000+00:00ADfalseBuilding self-improving tax agents with Codex | OpenAIhttps://www.wenbin.org/i/Jh9Gpnmf2Ui/"One senior accountant who spent 180 hours on tax prep last year spent only 15 hours on it this year. She put that time in part toward calling every one of her clients and walking them through their returns, a level of high touch service that wasn’t possible a year ago."Fri, 12 Jun 2026 19:08:13 +0000item:Jh9Gpnmf2Ui17812912933752026-06-12T19:08:13.375000+00:00ADfalseLong Humanshttps://www.wenbin.org/i/kfxNauGBAqY/"We pair our engineers and operators with practitioners inside our firms to find the problems and solve it with them"Fri, 12 Jun 2026 17:49:44 +0000item:kfxNauGBAqY17812865848582026-06-12T17:49:44.858000+00:00ADfalseMozart was the greatest musical talent maybe that ever lived... so what was his life like? Well, he was bitterly unhappy and he died young... What the hell did Mozart do to screw it up?"https://www.wenbin.org/i/ST2dLBtqNMK/Charlie MungerMon, 08 Jun 2026 00:08:44 +0000item:ST2dLBtqNMK17808773249592026-06-08T00:08:44.959000+00:00ADfalseSave like a pessimist. Invest like an optimist.https://www.wenbin.org/i/UhvGPmtJFBu/Sun, 07 Jun 2026 23:37:12 +0000item:UhvGPmtJFBu17808754322242026-06-07T23:37:12.224000+00:00ADfalseI've always believed that nothing is worth an infinite price. So even an admirable place like Costco could get to a price where you would say that's too high." "I can't bring myself — with my habits — to pay these big prices, but I never even think about selling a share of Costco just because it's selling at a high price." "I think it's going to be a big, powerful company as far ahead as you can see." "I wish everything else in America was working as well as Costco does. Think what a blessing that would be for us all."https://www.wenbin.org/i/Lm7UfRq2-BM/Charlie MungerSun, 07 Jun 2026 23:00:58 +0000item:Lm7UfRq2-BM17808732580412026-06-07T23:00:58.041000+00:00ADfalseNever underestimate the man who overestimates himself. These weird guys who overestimate themselves occasionally knock it right out of the park.https://www.wenbin.org/i/h4weRM8uXzp/Charlie MungerSun, 07 Jun 2026 05:33:13 +0000item:h4weRM8uXzp17808103938202026-06-07T05:33:13.820000+00:00ADfalseMaking $1 million a year looks great until this guy who sits next to you, who can't possibly be as smart as you, is making $1 million, too. Then the whole world turns into a very unfair placehttps://www.wenbin.org/i/r9SbeL6pcqI/Charlie MungerSun, 07 Jun 2026 03:20:23 +0000item:r9SbeL6pcqI17808024233622026-06-07T03:20:23.362000+00:00ADfalseA HashiCorp investor did a classy thing to make the founder wholehttps://www.wenbin.org/i/jMbzu9nWmXG/Fri, 05 Jun 2026 20:46:48 +0000item:jMbzu9nWmXG17806924089752026-06-05T20:46:48.975000+00:00ADfalseIf you don’t know what to pursue right now, pursue yourself. Pursue becoming the healthiest, the happiest, most healed, most present, most confident version of yourself. Then the right path will reveal itself.https://www.wenbin.org/i/WbC_DXTFVNf/Thu, 04 Jun 2026 05:37:44 +0000item:WbC_DXTFVNf17805514642452026-06-04T05:37:44.245000+00:00ADfalseEverything you've ever wanted is on the other side of fear.https://www.wenbin.org/i/HtJd97NBKfa/George AddairThu, 04 Jun 2026 05:34:48 +0000item:HtJd97NBKfa17805512884082026-06-04T05:34:48.408000+00:00ADfalseWe consume 63% more oil in 2026 than in 1980, but our reserves are 157% morehttps://www.wenbin.org/i/0SwDQH8EONv/Raw materials are useful because the real resources are human ingenuity, time, technological advance, etc. We always find solution to problems.Wed, 03 Jun 2026 21:16:54 +0000item:0SwDQH8EONv17805214141352026-06-03T21:16:54.135000+00:00ADfalseGlobal M2 ≈ $120 trillion. Average per person ≈ $15,000https://www.wenbin.org/i/xi8woQJ7VCl/Wed, 03 Jun 2026 20:12:01 +0000item:xi8woQJ7VCl17805175210642026-06-03T20:12:01.064000+00:00ADfalseTotal US M2 in 1971 was ~$0.65t, and was $22.8t in June 2026, an increase of 35x, or 6.7% annually, or doubles every 10.7 yearshttps://www.wenbin.org/i/uonwjvN87bp/Meanwhile, gold price increases ~130x. Physical cash is only about 10% of M2. Roughly 90% of M2 is bank deposits and money-market balances.Wed, 03 Jun 2026 17:30:53 +0000item:uonwjvN87bp17805078534012026-06-03T17:30:53.401000+00:00ADfalseThere is only one success in life and that is to be able to spend your life your own wayhttps://www.wenbin.org/i/DNArzmCejQi/Jim Rumer - A bench in sausalito; “You reminded us to be participants in life not just spectators “Tue, 02 Jun 2026 18:07:40 +0000item:DNArzmCejQi17804236603392026-06-02T18:07:40.339000+00:00ADfalseFrom 2000 to 2006, US housing prices surged by 54% after inflation, exceeding the total gains of the previous 50 years combined.https://www.wenbin.org/i/94Pi5_dVZxW/Mon, 01 Jun 2026 18:27:46 +0000item:94Pi5_dVZxW17803384666242026-06-01T18:27:46.624000+00:00ADfalseJapan stock market peaked in 1989 and bottomed in early 2019 - 20 years after the peak!https://www.wenbin.org/i/H6K_19TM3A8/It reclaimed its 1989 peak in Feb 2024 - 35 years later. Now in June 2026, it gained 72% over 1989 peak. But Japan stock market annualized return is still ~8.7% from 1970 to 2024. Live long, buy and hold :)Mon, 01 Jun 2026 18:11:48 +0000item:H6K_19TM3A817803375086752026-06-01T18:11:48.675000+00:00ADfalse160+ golf courses were built in Japan between 1989 and 1991. There were another 1,200 under construction or in the approval process that never got completed once the bubble bursthttps://www.wenbin.org/i/LNJDE2FymkQ/Mon, 01 Jun 2026 17:54:03 +0000item:LNJDE2FymkQ17803364432562026-06-01T17:54:03.256000+00:00ADfalseBy 1990, the total Japanese property market was valued at ~4x the real estate value of the entire USAhttps://www.wenbin.org/i/Ybrp3UdAzl6/Tokyo itself was on equal footing with the USA in terms of real estate values. The property market in Japan in 1989 was five times the size of Japan's economyMon, 01 Jun 2026 17:49:33 +0000item:Ybrp3UdAzl617803361731732026-06-01T17:49:33.173000+00:00ADfalseThe bottom 2% in terms of income in the United States, the bottom 5%, and for sure the top 1% all live better than John D. Rockefeller was living when I was six years old. John D. Rockefeller was the richest man in the world and, today, you can get better medicine, better education, better entertainment, better transportation. You can do everything better than he could.https://www.wenbin.org/i/k46nZK3eCWr/Warren BuffettMon, 01 Jun 2026 17:28:50 +0000item:k46nZK3eCWr17803349308922026-06-01T17:28:50.892000+00:00ADfalseAfter internet bubble crashed, Nasdaq lost 78% and it took ~12.5 years to recover from low to previous peakhttps://www.wenbin.org/i/7bCdyQrGoIt/Mar 2000 peak: ~5,048 Oct 2002 low: ~1,114 Apr 2015 new high: ~5,056Mon, 01 Jun 2026 17:21:21 +0000item:7bCdyQrGoIt17803344813642026-06-01T17:21:21.364000+00:00ADfalseUS market annual returns between 1995 and 1999: 37%, 23%, 33%, 28%, and 21%https://www.wenbin.org/i/AF1E8_BH2kS/1980 to 1994 total returns : 650%Mon, 01 Jun 2026 17:12:58 +0000item:AF1E8_BH2kS17803339780122026-06-01T17:12:58.012000+00:00ADfalseAt peak on Dec 29, 1989, Japan stock market is the largest in the world, accounting for 40% to 45% of total market cap in the worldhttps://www.wenbin.org/i/6NQEeSqClGA/8 out of 10 most valuable companies in the world were from Japan. Recent estimates (2025–2026) put the U.S. at roughly 60–65% of total global stock market capitalization.Mon, 01 Jun 2026 17:07:21 +0000item:6NQEeSqClGA17803336416492026-06-01T17:07:21.649000+00:00ADfalseJapan is home to 33,000+ 100-plus-yr old businesses; 3,100+ have 200+ yrs; 140+ have 500+ yrshttps://www.wenbin.org/i/zUBWmQR0sGb/Mon, 01 Jun 2026 17:03:40 +0000item:zUBWmQR0sGb17803334203042026-06-01T17:03:40.304000+00:00ADfalseNothing obscures your financial judgement on investments more than the sight of your neighbor getting richhttps://www.wenbin.org/i/FoSTun2g8Y3/J.p. morganMon, 01 Jun 2026 16:36:38 +0000item:FoSTun2g8Y317803317984352026-06-01T16:36:38.435000+00:00ADfalseBetween 1928 and 2014, 71 out of 97 years (73%) saw positive returns in us stock markethttps://www.wenbin.org/i/bZVi7XFKAln/40% of all years have seen 20% or more returnsMon, 01 Jun 2026 16:30:49 +0000item:bZVi7XFKAln17803314491302026-06-01T16:30:49.130000+00:00ADfalseAfter IPO, Amazon stock up 150% in the first year, then up 1000% the second year, then up 40% the third year, then down 80%, then bottom at 95% downhttps://www.wenbin.org/i/pmX7jAcQWDb/Mon, 01 Jun 2026 15:57:48 +0000item:pmX7jAcQWDb17803294684762026-06-01T15:57:48.476000+00:00ADfalseRisk and Reward: How to handle market volatility and build long-term wealthhttps://www.wenbin.org/i/bxJvRc9EOBw/Risk and Reward: How to handle market volatility and build long-term wealth - Kindle edition by Carlson, Ben. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Risk and Reward: How to handle market volatility and build long-term wealth.Mon, 01 Jun 2026 15:52:50 +0000item:bxJvRc9EOBw17803291709752026-06-01T15:52:50.975000+00:00ADfalseYou don’t have the gains without living through the losseshttps://www.wenbin.org/i/G4KdHkFm6A2/Mon, 01 Jun 2026 15:50:16 +0000item:G4KdHkFm6A217803290165682026-06-01T15:50:16.568000+00:00ADfalseSince 1950, US stock market was never down over any 12-year window and was positive in 97% of 10 year windowshttps://www.wenbin.org/i/o-zuT9MFR8S/Sat, 30 May 2026 14:31:59 +0000item:o-zuT9MFR8S17801515194852026-05-30T14:31:59.485000+00:00ADfalseSince 1920s, us stock market have 52% days that see positive returns, and on average only 0.03% daily gainhttps://www.wenbin.org/i/W5MDy1t90Gn/Fri, 29 May 2026 20:14:44 +0000item:W5MDy1t90Gn17800856843582026-05-29T20:14:44.358000+00:00ADfalseSee’s Candies do approximately 40% of the years volume and 75% of the year’s profit in the four weeks prior to Christmashttps://www.wenbin.org/i/wQJGMZWFe7T/Fri, 29 May 2026 16:42:50 +0000item:wQJGMZWFe7T17800729707482026-05-29T16:42:50.748000+00:00ADfalseUnemployment rate spiked from 3.5% to 14.7% within 2 months in early 2020https://www.wenbin.org/i/v8iX_sWq-YE/Fri, 29 May 2026 16:39:09 +0000item:v8iX_sWq-YE17800727492032026-05-29T16:39:09.203000+00:00ADfalseThe longest depression was 65 months, from Oct 1873 to March 1879https://www.wenbin.org/i/vDgi_SBHJcF/Fri, 29 May 2026 16:35:40 +0000item:vDgi_SBHJcF17800725402652026-05-29T16:35:40.265000+00:00ADfalseThe worst 30-year return in S&P500 is 850% (or 7.8%/yr) from 1929 to 1959https://www.wenbin.org/i/YemFfA0odVl/During this 30-year period, it crashed 86% once. The 1929 all time high was not reclaimed until 1954Thu, 28 May 2026 16:59:20 +0000item:YemFfA0odVl17799875603122026-05-28T16:59:20.312000+00:00ADfalseIn roaring 20s, Dow rose ~6x, from 63 in 1921 to 381 in 1929. ~25% per yearhttps://www.wenbin.org/i/YrANoP6Md1H/Thu, 28 May 2026 16:49:00 +0000item:YrANoP6Md1H17799869403282026-05-28T16:49:00.328000+00:00ADfalseStock market bottomed in the summary of 1932. Then the stock market surged 90+% from July to August 1932!https://www.wenbin.org/i/WbEZmFzD57K/Thu, 28 May 2026 16:36:31 +0000item:WbEZmFzD57K17799861915112026-05-28T16:36:31.511000+00:00ADfalseIf you’re not willing to react with equanimity to a market price decline of 50% two or three times a century you’re not fit to be a common shareholderhttps://www.wenbin.org/i/4wXFOQig0j9/Charlie MungerThu, 28 May 2026 16:20:36 +0000item:4wXFOQig0j917799852362312026-05-28T16:20:36.231000+00:00ADfalseLife will have terrible blows in it. Horrible blows. Unfair blows. It doesn't matter. And some people recover and others don't. There, I think the attitude of Epictetus is the best. He thought that every mischance in life was an opportunity to behave well. Every mischance in life was an opportunity to learn something. Your duty was not to be submerged in self-pity, but to utilize the terrible blow in a constructive fashion.https://www.wenbin.org/i/VAG-5M2UQFz/Charlie MungerWed, 27 May 2026 00:11:02 +0000item:VAG-5M2UQFz17798406623562026-05-27T00:11:02.356000+00:00ADfalseThe secret of life is to waste time in ways that you like.https://www.wenbin.org/i/8UWYCrx5kTI/Jerry SeinfeldTue, 26 May 2026 21:29:26 +0000item:8UWYCrx5kTI17798309660602026-05-26T21:29:26.060000+00:00ADfalseDo not pray for easy lives. Pray to be stronger menhttps://www.wenbin.org/i/uoYbvr-clkd/JFKTue, 26 May 2026 03:17:16 +0000item:uoYbvr-clkd17797654368342026-05-26T03:17:16.834000+00:00ADfalseStocks are safe for the long run and they're very unsafe for tomorrowhttps://www.wenbin.org/i/tauyHSCoEv6/Warren BuffettTue, 26 May 2026 02:45:50 +0000item:tauyHSCoEv617797635509472026-05-26T02:45:50.947000+00:00ADfalseIf a business earns 18% ln capital over 20 or 30 years, even if you pay an expensive looking price, you’ll end up with a fine result .https://www.wenbin.org/i/rF3pMG6zsfy/Charlie MungeMon, 25 May 2026 15:51:05 +0000item:rF3pMG6zsfy17797242653952026-05-25T15:51:05.395000+00:00ADfalseGood stocks are seldom without friendshttps://www.wenbin.org/i/BmxOUqGZFVj/Thomas W. Phelps - good stocks are rarely cheap in the usual sense. don’t let a seemingly high initial multiple scare you away from a great stock. Amazon once had 700 P/EMon, 25 May 2026 15:47:40 +0000item:BmxOUqGZFVj17797240604362026-05-25T15:47:40.436000+00:00ADfalseRisk is what is left over… after you have thought of everythinghttps://www.wenbin.org/i/54gZ1N673UY/Carl RichardsMon, 25 May 2026 03:10:52 +0000item:54gZ1N673UY17796786524552026-05-25T03:10:52.455000+00:00ADfalseIf we have cash, it’s because we haven’t found anything intelligent to do with it that day. The best purchases are usually made when you have to sell something else to raise the money.https://www.wenbin.org/i/_AXDbk9B8PI/Warren BuffettMon, 25 May 2026 03:02:18 +0000item:_AXDbk9B8PI17796781382092026-05-25T03:02:18.209000+00:00ADfalseI always tried to turn every disaster into an opportunityhttps://www.wenbin.org/i/YcUw1DSEfpa/John D. RockefellerMon, 25 May 2026 01:41:12 +0000item:YcUw1DSEfpa17796732727922026-05-25T01:41:12.792000+00:00ADfalseNever ruin an apology with an excuse.https://www.wenbin.org/i/580za3DeB9O/Benjamin FranklinSun, 24 May 2026 20:37:21 +0000item:580za3DeB9O17796550414192026-05-24T20:37:21.419000+00:00ADfalsethe belief that security can be obtained by throwing a small State to the wolves is a fatal delusionhttps://www.wenbin.org/i/48ob5pIeGsW/ChurchillThu, 21 May 2026 03:07:43 +0000item:48ob5pIeGsW17793328633432026-05-21T03:07:43.343000+00:00ADfalseLife shrinks or expands in proportion to one’s courage.https://www.wenbin.org/i/kHXYNsqxAVa/Anais NinTue, 19 May 2026 11:53:28 +0000item:kHXYNsqxAVa17791916086542026-05-19T11:53:28.654000+00:00ADfalseAI eats the world (Spring 26) [pdf]https://www.wenbin.org/i/xbD2JUO_fd0/Benedict EvansMon, 18 May 2026 14:34:29 +0000item:xbD2JUO_fd017791148699712026-05-18T14:34:29.971000+00:00ADfalseIs It Even Real? On the Conflation of Money and Thingshttps://www.wenbin.org/i/RnHYm5okOxf/Fri, 15 May 2026 06:27:44 +0000item:RnHYm5okOxf17788264648662026-05-15T06:27:44.866000+00:00ADfalseIf I had asked people what they wanted, they would have said faster horseshttps://www.wenbin.org/i/DFfWinIgbH7/Henry FordWed, 13 May 2026 20:23:02 +0000item:DFfWinIgbH717787037829552026-05-13T20:23:02.955000+00:00ADfalseThe Inference Shifthttps://www.wenbin.org/i/NWtoFgm7VAn/Agentic inference is going to be different than the inference we use today, and it will change compute infrastructure because speed won’t matter when humans aren’t involved.Tue, 12 May 2026 08:49:26 +0000item:NWtoFgm7VAn17785757662802026-05-12T08:49:26.280000+00:00ADfalseLife will have terrible blows, horrible blows, unfair blows. Doesn't matter. And some people recover, and others don't.https://www.wenbin.org/i/hLYMaGEP8mw/Charlie MungerSun, 10 May 2026 16:56:37 +0000item:hLYMaGEP8mw17784321977782026-05-10T16:56:37.778000+00:00ADfalseI Want to Live Like Costco Peoplehttps://www.wenbin.org/i/iNyt4OBPsz3/Same costco people all aroundFri, 08 May 2026 06:53:19 +0000item:iNyt4OBPsz317782231997262026-05-08T06:53:19.726000+00:00ADfalseSix Years Perfecting Maps on watchOS - David Smith, Independent iOS Developerhttps://www.wenbin.org/i/prh8Z409-5y/Sun, 03 May 2026 07:27:15 +0000item:prh8Z409-5y17777932358752026-05-03T07:27:15.875000+00:00ADfalseIf I can be optimistic at 99, almost dead, surely the rest of you can handle a little inflation.https://www.wenbin.org/i/eArcfFOzHMD/Charlie MungerMon, 27 Apr 2026 23:07:09 +0000item:eArcfFOzHMD17773312292542026-04-27T23:07:09.254000+00:00ADfalseBuild Canada's Wealth Fundhttps://www.wenbin.org/i/uA0iaGSwVCF/Canada’s natural resource wealth is finite. A Sovereign Wealth Fund transforms today’s temporary resource profits into lasting, shared prosperity for all Canadians.Mon, 27 Apr 2026 21:12:25 +0000item:uA0iaGSwVCF17773243453672026-04-27T21:12:25.367000+00:00ADfalseYour Spending Needs Attention: Modeling Financial Habits with Transformershttps://www.wenbin.org/i/X6PMuGVWFvL/Mon, 27 Apr 2026 11:15:59 +0000item:X6PMuGVWFvL17772885595592026-04-27T11:15:59.559000+00:00ADfalsePRAGMA: Revolut Foundation Modelhttps://www.wenbin.org/i/FMYJ98B5j6a/Mon, 27 Apr 2026 11:14:57 +0000item:FMYJ98B5j6a17772884978232026-04-27T11:14:57.823000+00:00ADfalseI Bought Friendster for $30khttps://www.wenbin.org/i/VYEpNbXMRgh/Founder of park.io bought friendster.com and made an app for it. "Fading connections" is interesting - I had similar idea before; it's like in real life, friendship could expire.Mon, 27 Apr 2026 01:02:04 +0000item:VYEpNbXMRgh17772517246262026-04-27T01:02:04.626000+00:00ADfalseFar more money has been lost by investors trying to anticipate corrections, than lost in the corrections themselves.https://www.wenbin.org/i/0kmT2uB5CWz/Peter LynchSun, 26 Apr 2026 14:53:55 +0000item:0kmT2uB5CWz17772152350782026-04-26T14:53:55.078000+00:00ADfalseWhen everything seems to be going against you, remember that the airplane takes off against the wind, not with it.https://www.wenbin.org/i/1926wVmdhso/Henry FordSat, 25 Apr 2026 01:12:39 +0000item:1926wVmdhso17770795599692026-04-25T01:12:39.969000+00:00ADfalseHistorically I deal in five or six asset buckets. It tends to keep me out of trouble in terms of playing in an area where I shouldn't be playing at a particular time. One of the most important things to do is not to play when you don't see a fat pitch.https://www.wenbin.org/i/Bnd1rFy9YjX/STANLEY DRUCKENMILLER AVERAGED 30% ANNUAL RETURNS FOR 30 YEARS WITH ZERO LOSING YEARSFri, 24 Apr 2026 14:53:20 +0000item:Bnd1rFy9YjX17770424003442026-04-24T14:53:20.344000+00:00ADfalseI won't play in a game where the other people are wise and I'm stupid. I look for a place where I'm wise and they're stupid. And, believe me, it works better.https://www.wenbin.org/i/W1jRdfqYpQM/Charlie MungerFri, 24 Apr 2026 13:57:12 +0000item:W1jRdfqYpQM17770390323572026-04-24T13:57:12.357000+00:00ADfalseI don't care if a company is large cap, middle, small or micro cap. It makes no difference. See's Candy at $25M was micro when we bought. The only questions that matter: 1. Do I understand the business 2. Do I like the people running it 3. Is the price attractivehttps://www.wenbin.org/i/q9nZ0yIYgxk/Warren BuffettFri, 24 Apr 2026 01:55:30 +0000item:q9nZ0yIYgxk17769957301612026-04-24T01:55:30.161000+00:00ADfalseIf all you ever did was buy high-quality stocks on the 200-week moving average, you would beat the S&P 500 by a large margin over time.https://www.wenbin.org/i/1l3k_6wLcj0/Charlie MungerThu, 23 Apr 2026 18:24:41 +0000item:1l3k_6wLcj017769686819602026-04-23T18:24:41.960000+00:00ADfalseI am building a cloudhttps://www.wenbin.org/i/Wzk-yZp8wYl/exe.dev - some heroku vibeThu, 23 Apr 2026 05:33:37 +0000item:Wzk-yZp8wYl17769224178262026-04-23T05:33:37.826000+00:00ADfalseMicroeconomics is what we do and macroeconomics is what we put up withhttps://www.wenbin.org/i/vYEJ71o9Xzt/Charlie MungerThu, 23 Apr 2026 05:11:06 +0000item:vYEJ71o9Xzt17769210662772026-04-23T05:11:06.277000+00:00ADfalseDRUDGE REPORThttps://www.wenbin.org/i/ZwvG5qkVh4M/Curates conservative newsThu, 23 Apr 2026 05:10:16 +0000item:ZwvG5qkVh4M17769210160522026-04-23T05:10:16.052000+00:00ADfalseDaring Fireball: Another Day Has Comehttps://www.wenbin.org/i/3O1UDfTEorS/"Today, it feels to me like Apple needs a product guy at the helm again."Wed, 22 Apr 2026 19:25:05 +0000item:3O1UDfTEorS17768859053422026-04-22T19:25:05.342000+00:00ADfalseThe first rule of a happy life is low expectations. If you have unrealistic expectations, you're going to be miserable your whole life.https://www.wenbin.org/i/HlZyNYp1F2O/Charlie MungerWed, 22 Apr 2026 15:54:27 +0000item:HlZyNYp1F2O17768732672562026-04-22T15:54:27.256000+00:00ADfalseTim Cook’s Impeccable Timing – Stratechery by Ben Thompsonhttps://www.wenbin.org/i/D_7KBTM2EYs/The day right after Apple's new CEO announcementTue, 21 Apr 2026 16:53:44 +0000item:D_7KBTM2EYs17767904242682026-04-21T16:53:44.268000+00:00ADfalse