(Not) boring finds for April 2018
This week we consider how far-reaching the effects of trade tariffs could be; the potential similarities between bonds and stocks; why software businesses can be great investments; and, how much narratives can shape investing.
Oppenheimer Funds – Will trade skirmishes end the economic cycle?
A solid brief about the potential effects of trade tariffs from protectionist politics.
A Wealth of Common Sense – Stocks are more similar to bonds than you think
The two asset classes may share more in common than investors may realize—the clue lies in the ROE (or, “equity coupon” as Warren Buffet would say).
Invest Like the Best podcast – The Berkshire of software, with Savneet Singh – (1 hr 20 min)
To listen to on a long walk or relaxing with a hot beverage in hand. An interview with Savneet Singh, founder of Tera Holdings, who shares unique observations on fintech, the benefits of investing in software businesses, value investing, and more.
When story-telling and investing intersect.
“If you can tell a good enough story, you can raise someone’s expectations (i.e. reduce their discount rate) and, thus, increase their willingness to pay for something. You didn’t change earnings growth. You didn’t change management. You didn’t change strategies. You just told a better story.”