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November 2025

Read. Reflect. Re-energize.

YouTube | Seth Klarman Interview by Charlie Rose 2011 (Value Investing)

It’s only thirteen minutes long, but this brief exchange between Charlie Rose and the great Seth Klarman is something you can watch over and over again as a reminder of the kind of first principles that every investor needs to stick to.


Visual Capitalist | Visualizing the World’s Total Supply of Gold

Gold is on a hot streak, up more than 50% to-date despite retreating from October’s record highs of $4,380 per troy ounce.


Collective Membership | Collective Conversations: Grant Williams & Mike Green, Part II

Part two of a conversation between Grant Williams and Mike Green, filmed at the Annual Collective event in Nantucket, Massachusetts on October 1, 2025.


Oaktree Capital | Cockroaches in the Coal Mine

Howard Marks — in his memo Cockroaches in the Coal Mine argues that a spate of recent bankruptcies and alleged credit-fraud cases should serve as warnings that sub-investment-grade lenders must not mistake yield premia for “free money,” because problems tend to cluster when lending standards slip.


YouTube | Hugh Grant Honors Richard Curtis

If anybody needs an introduction to English humour, here it is, courtesy of Hugh Grant honouring his great friend Richard Curtis.


Instagram | How Songs Were Made

Prince’s iconic guitar solo for “While My Guitar Gently Weeps” took place during the 2004 Rock and Roll Hall of Fame induction ceremony, where he performed alongside artists like Tom Petty, Steve Winwood, Jeff Lynne, and Dhani Harrison (George Harrison’s son)


Investment involves risk, uncertainty and assumptions. The value of investments rise and fall and there is a risk you may not recoup the amount originally invested. Past performance is not a reliable indicator of future performance.

The contents are provided as general in nature and should not be relied upon nor construed to be the rendering of specific tax, legal, accounting or professional investment advice. Readers should consult with their own accountants, lawyers and/or financial advisors for advice on their specific circumstances before taking any action.

The information contained herein is from sources believed to be reliable, but accuracy cannot be guaranteed. No representations or warranty, expressed or implied, is made by Caldwell Investment Management Ltd. or its affiliates.

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