A summary of this week’s best articles. Follow us on Twitter (@INTRINSICINV) for similar ongoing posts and shares.

Netflix releases interactive episode of TV show ‘Black Mirror’ (David Reid, @cnbcdavy, CNBC)
Netflix released a new interactive TV series that allows viewers to choose their own story line.  “The latest “choose your own adventure” episode is called “Bandersnatch” and follows the tale of a young coder who helps create a computer game inspired by an adventure novel.”  Ensemble Capital’s Arif Karim also recently wrote about the streaming media giant and Netflix’s Pricing Power on the Ensemble Capital Intrinsic Investing Blog.

Letter from Tim Cook to Apple investors (Tim Cook, @tim_cook)
Apple pre-announced a significantly weaker than expected December 2018 quarter and guided revenue forecasts lower for coming quarters.  The weakness has been concentrated in the iPhone business and predominantly in China.

The Vintage Ferraris That Run in the Family (A.J. Baime, @ajbaime, The Wall Street Journal)
David Donner talks about his family’s beloved collection of vintage Ferraris and what they mean for his own DNA.  Ensemble Capital’s Arif Karim wrote about Ferrari’s unique luxury brand and position in the auto marketplace in the article Ferrari Sells Veblen Goods, Not Cars in 2017.

The US government is warning Americans that if they visit China they may not be able to return home (Benjamin Zhang, @BenjaminPZhang, Business Insider)
The US State Department recently issued a warning for US travelers headed to China encouraging them to exercise caution.  “Chinese authorities have asserted broad authority to prohibit US citizens from leaving China by using ‘exit bans,’ sometimes keeping US citizens in China for years,” the State Department said in its advisory.  Ensemble Capital’s Chief Investment Officer Sean Stannard-Stockton recently wrote about tension with China has meant for the markets in The Market Decline of 2018 & What Comes Next.

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