What I read last week...
Finance & Markets
Aswath Damodaran wrote about different sources of equity returns. In general, I agree with the notion that to earn any kind of return in the market, you have to accept the pain that goes with it.
Too often, people confuse trading with investing. Keeping the long term perspective matters most.
As of late, there have been numerous articles on the valuation of global equity markets. It is critical to put valuation metrics into context and decipher their calculation.
Howard marks published a piece on the current uncertainty. It is outright brilliant, don’t miss it!!!
Business & Strategy
Ben Thompson wrote about the “anti-amazon-alliance”, which has formed over the last years. Alternative e-commerce providers like Shopify or Instagram are gaining traction in the marketplace.
