These are some of my favorite reads from the month of August. Enjoy!
Is Competition Out of Bounds for Christians?
(Hugh Welchel, Institute for Faith, Work, & Economics)
Is competition biblical? As a very competitive person, I’ve often asked this question. And the answer is…maybe. It depends on who you’re competing for.
7 Surprising Teachings About Money in the Bible
(Dave Willis, Patheos)
The Bible has a lot to say about money. These seven verses and teachings from the Bible are a solid foundation for being a good steward with what has been entrusted to your care.
Ten Insane Things We Believe on Wall Street
(Joshua Brown, The Reformed Broker)
A quick, fun read about the 10 craziest things people on Wall Street believe.
Google, Uber, and the Evolution of Transportation-as-a-Service
(Ben Thompson, Stratechery)
The move to self-driving cars and transportation-as-a-service (TaaS) is going to be fascinating to watch over the next several years, especially for Google and Uber. Many partnerships have been announced, and I suspect many more will come. Also, I wouldn’t be surprised to see more acquisitions in this space as companies try to position themselves for major shifts in the auto/transportation industry.
When the System Breaks
(Morgan Housel, The Motley Fool)
Interesting example of how short-termism is bad for stocks. Shareholders should be more focused on the long-term to keep the system operating as it should.
Investing and Valuation Lessons from the Renaissance
(Aswath Damodaran, Musings on Markets)
A quick read on how investment valuation is akin to the building of a 1400s Italian dome. Mainly, that investment valuation is both an art and a science, and how patience is of the utmost importance.
(Howard Marks, Oaktree Capital)
This is a longer piece on the political landscape in America today. It’s mostly non-partisan (although some jabs are [rightfully?] thrown at Trump). This "memo" is very thoughtful and insightful, even including some proposals to improve our government.
Ben Malick, CFA