Recent Reading: A Monthly Medley August 2016

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.

Political Reality 
(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