1/ If only TECH (high-speed cameras + line and net sensors) were used #UsOpenFinal Women Championship would’ve been only about the PLAYERS, their skill, their luck, their errors...
2/ Instead it was CONTEST of HUMAN misjudgment—not CONTEST of skill
HUMAN ref misjudged/overreacted to human communication (Serena, coach)
...triggered HUMAN defense (Serena) + protest of human (ref) misjudgment
...Serena protest was deemed overreaction + punished by human ref
3/ NO reason TODAY for a chair umpire.
As Buffett said of newspapers. If the internet existed first, newspapers wouldn’t.
If technology (high-speed cameras + net & line sensors) existed first, tennis umpires wouldn’t.
Obsolescent.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Cliff is saying always ask with skepticism someone with certainty then was the alleged worst case before that worst case. The worst case isn't the worst case til...the worst case.
3/ Key risks
Bill @B3_MillerValue
Benign market in bonds. They're (perceived safe) but may be horribly risky & could see them go to 6% in next few years.
Bethany @bethanymac12
Could be pension funds reaching for yield with low yielding 'safe asseta' + investing more in PE / HFs
1/ Here's example where I had thesis & my partners questioned market structure
Decade-long thesis in F&F (flavors + fragrances) had us seeking biotech-like compound discovery for new or substitute flavors
But IFF, Firmemich, Givaudon have oligopoly—
—Why $ exits are too small
2/ Technologically we will no doubt have companies doing cool discovery + new processes & partnerships with Coke, Pepsi, Nestle, Cadbury, etc as market seeks less sugar, salt substitutes, “natural” flavors etc.
But what is good for consumers ain’t always great for investors...
3/ Instincts and intuitions (in the form of conjecture and hypothesis) meet skepticism and “outside views” (in form of criticism).
Grateful Lux has culture of intellectually honest and intellectually sparring partners to help us “trend to truth”...