“Nothing gets people to look the other way like easy money.” – Does Not Compute, Collaborative Fund
I am very tired of seeing articles about FTX and SBF.
Here are my most influential reads for the month – in no particular order:
- Getting Wealthy vs. Staying Wealthy – “But there’s only one way to stay wealthy: some combination of frugality and paranoia.”
- That Sound You Hear Is the Fed Breaking Something – “As I have stated before, the Fed will keep hiking until something breaks, and clearly the cracks are forming.”
- Borrowing Surge Makes Quick End to Rate Hikes Unlikely – “Even as money growth is stalling, Joseph Carson, former chief economist at AllianceBernstein, points out that bank credit growth is booming. “
- The Munger Operating System: A Life That Works – “You want to deliver to the world what you would buy if you were on the other end.”
- Inflation Tends to Linger. Could It Last a Decade This Time? – “Given that U.S. inflation has run above 6% for the past year and over 8% for the seven months through September (before dipping to 7.8% in October), history indicates that the median time it will take before inflation eases below 3% is 10 years. “
- Here’s How Quitting Can be Your Competitive Advantage – “Imagine it’s a year from now and you stayed in your current position. What are the chances that you’re happy?”
- Papa Doble. Hemingway Revisited. – “The toolbox for achieving great financial outcomes has changed quickly, as have the accompanying implications of these higher, risk-free, short-term rates.”
- The Pandemic Housing Bubble is bursting—U.S. home prices falling 15% looks ‘conservative’ – “That Pandemic Housing Boom coincided with a staggering 42% jump in U.S. home prices between March 2020 and June 2022. At least 60% of that appreciation, researchers at the Federal Reserve Bank of San Francisco estimate, can be attributed to the elevated demand for “space” that occurred during the pandemic.”
- Committed & Unattached: A Powerful Way to Work – “But while you’re committed to making it happen, you are unattached to the outcome.”
- Higher Interest Rates Alone Won’t Fix the Inflation Problem – “The problem is that the longer the Fed’s balance sheet stays elevated, the more likely it is that QE becomes irreversible.”
Note: This is based on when I read the article, not necessarily when it was first published. Unfortunately, my backlog of things I would like to read always seems to dwarf the amount of time I can devote to reading.
Top clicks across the site last month:
- Financial Model vs. Operating Model
- Excel Tips: Football Field Chart
- EBITDA Is Not A Good Proxy For Cash Flow
- Influential Reads – October
- Operating Model Tips
Updated stats:
| Read Articles | Books | |
| January | 89 | 1 |
| February | 110 | 0 |
| March | 102 | 3 |
| April | 103 | 2 |
| May | 134 | 3 |
| June | 74 | 0 |
| July | 82 | 2 |
| August | 112 | 7 |
| September | 72 | 4 |
| October | 61 | 4 |
| November | 81 | 5 |
| December | ||
| Total | 1,020 | 31 |