Influential Reads – April 2020

Reading Time: 2 minutes

Four books this month.  No reason to read the news; nobody knows anything.  

Updated stats through April:

Here are my most influential reads – in no particular order:

  1. On Bridge Loans and Bankruptcy – “Using the bankruptcy code in this way would allow the United States to help firms (albeit, likely slightly larger ones than mom-and-pops) in a predictable, known, guaranteed way while also protecting tax payers from taking significant downside risk positions in an ad-hoc and convoluted matter via bridge loans (if they are feasible at all, which I doubt)”
  2. Why We Focus on Trivial Things: The Bikeshed Effect – “The Law of Triviality states that the amount of time spent discussing an issue in an organization is inversely correlated to its actual importance in the scheme of things.”
  3. Capitalists or Cronyists? – “CNBC/Trump want to protect current equity holders at the expense of future generations with rescue packages that explode the deficit.”
  4. The First Modern Pandemic – “It is important to realize that this is not just the result of government policies restricting activities. When people hear that an infectious disease is spreading widely, they change their behavior. There was never a choice to have the strong economy of 2019 in 2020.”
  5. You Should Do More $10,000 per Hour Work – “There’s one thing you’ll never see in a casino. A clock.”
  6. How to Be a Better Listener – “Pretend you’re doing improv, and that you can only react in the moment to what the other person is saying, rather than planning out the next three steps in the conversation.”
  7. What Would You Have Done in 2009? – “Have enough liquid reserves available but avoid an addiction to cash.”  SMS here: Would you say the same thing if you have gone through the Great Depression?  
  8. Victory is Inevitable (Part 2) – “Now is also a good time to be working, engaged in an activity that helps the economy and helps other people. Being busy at a time like this can be a blessing for your mental health. And its good to have money coming in to drip-feed into assets whilst they’re on sale…this won’t last forever.”
  9. Becoming An Investing Buddha – “Rather, it’s the ability to handle good and bad times with equanimity, combined with courage and decisiveness, that really matters in the long run.”
  10. Thoreau on Hard Work – “The really efficient laborer will be found not to crowd his day with work, but will saunter to his task surrounded by a wide halo of ease and leisure. There will be a wide margin for relaxation to his day”

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.

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