Weekly Reads: 01/02/2018
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Weekly Reads: 01/02/2018

The Week’s Best Articles: Week of January 2nd, 2018

Tax Reform: SALT Margins – click here
Much has been made about the removal of the SALT deduction in the most recent tax overhaul.  The reality is that much of the impact of the new law is yet to be fully understood, this will only occur with time.  The attached article attempts to make sense of some of the changes and how the SALT deduction creates certain types of incentives for politicians.

Markets: Are We Ready For A Wild Ride in 2018 – click here
Byron Wien has long been a widely followed market prognosticator and well respected by many in the investing community.  His latest piece highlights some of his thoughts for 2018 and where the market may take us.

Venture Capital: Masayoshi Son’s Bet on ARM – click here
Mr. Son, the leader of SoftBank, has become a major player in a variety of industries over the past several decades.  His foresight and ability to think multiple steps ahead have allowed him to build an empire that is rivaled by almost no one else.  This article presents a look at his pursuit of ARM Holdings and how he thinks about constructing his business.

Investing: Bitcoin, Blockchain and Insane Valuations – click here
Bitcoin and BlockChain have become the rage for many investors.  This article looks at how certain businesses who are struggling are “pivoting” to focus on the nascent technologies and immediately are rewarded with outside funding and boosts in valuation!

Politics: Why The Other Iran Is Taking to the Streets – click here
The protests ongoing in Iran are captivating the world yet no one seems to know how they started or by whom.  Politico examines the idea that this is because the protests are coming from the part of Iran the outside world doesn’t follow, the middle and working class outside that doesn’t live in Tehran.  So much attention is given to the leadership in the capital that not much is known about those living in the rest of the country.

Business: How to Keep Vanguard Growing – click here
The growth of passive investing has been phenomenal.  As a leader in the passive investing world Vanguard is beginning to run into the law of large numbers.  For their new CEO the question now centers on how to keep the business growing.  The WSJ examines the strategies employed by Mr. Buckley to achieve that goal.

Politics: An Ugly Divorce – Bannon and Trump – click here
During the campaign President Trump used Steve Bannon as a lightning rod to capture the attention of the far right.  Fast forward a year and their relationship appears to be in tatters.  Mr. Bannon is releasing a book bashing much of the Trump advisory infrastructure including his children and son-in-law.  Their breakup is an story line to watch during the upcoming midterm elections.

Investing: Dow Jones Crosses 25,000 But Individual Investors Sit Out – click here
The Dow Jones Industrial Average (DJIA) crossed 25,000 for the first time in history.  The WSJ examines that despite the longest extended rally in market history many individual investors’ have sat out the rally due to the sting of the financial market collapse.  This article reinforces our view of having a long-term plan/asset allocation and sticking to it.