My Top 20 Reads of 2017

This year, I’ve read hundreds of articles, covering a wide range of themes all linked in some way to global current affairs – from investment and economics, to politics and philosophy. Here’s a list of my top 20 reads of 2017. Enjoy!

Why I left my liberal London tribe, by David Goodhart (FT Weekend Life & Arts) *paywall*
“The value divides in British society that led to Brexit, and may now break up the United Kingdom, stem from the emergence in the past generation of two big value clusters: the educated, mobile people who see the world from “Anywhere” and who value autonomy and fluidity, versus the more rooted, generally less well-educated people who see the world from “Somewhere” and prioritise group attachments and security. There are many subdivisions within both groups, of course, as well as a large “inbetweener” group. Anywheres tend to be more mobile than Somewheres, their careers often sucking them into London for a period. Yet more than 60 per cent of British people still live within 20 miles of where they lived when aged 14.”

From Netflix to rented homes, why are we less interested in ownership?, by Ian Leslie (The New Statesman)
“The Pay-go economy is changing our relationships with each other and with ourselves. Possessions form part of what the marketing academic Russell Belk calls “the extended self”. In Daniel Miller’s book, he describes how objects, however trivial, can embody relationships. Each household’s collection of stuff – tacky souvenirs, CDs we borrowed and never gave back – forms a constellation of personal significance. Post-materialism does not equate with spiritual enrichment. Usually the closer our relationships with objects, the closer our relationships are with people.”

Scandalized Reading, by Jessica Hooten Wilson (Fathom Mag)
“The majority of Christians […] read many more self-help and Christian living books than literature. But if we look at the example of the Son of God himself, we don’t see him speaking on how to make friends and influence people or seven methods of effective discipleship. Rather, he made his ministry about telling stories and living as the hero of a true story. Christ is the Word. The Bible is a story. If Christians are not reading stories, they are neglecting one of the charges of the gospel.”

Overcoming Your Demons, by Morgan Housel (Collaborative Fund blog)
“Stuttering seems uncommon [because] most stutterers don’t talk much. Silence is the perfect disguise. The clenched jaw, the contorted face, the awkward rapid repetitions of sounds as you struggle through words – veteran stutterers will move mountains to avoid these situations, and they’re easily avoided by not talking.”

Artificial intelligence: Silicon Valley’s new deity, by Leslie Hook (FT Magazine) *paywall*
“The quest for immortality is […] taken seriously in the Bay Area, partly because a number of billionaires are investing heavily in research to extend their own lives. Most of the focus is on the question of how to accomplish this (ideas include cloning yourself, then using the blood of the younger clone to nourish your older body). But few discuss the spiritual implications of these projects. If the technology we create surpasses us in intelligence, does it ever have a soul? And if humans live for a very long time, or indeed for ever, do they ever become gods?”

No more water for water-carrier, by Alex Magaisa (The Big Saturday Read blog)
“Mnangagwa doesn’t seem to have the courage to walk away. He is probably waiting for Mugabe to pronounce direct judgment upon him. There is no culture of resigning in [Zimbabwe’s] ZANU PF. Those on the gravy train do not like stepping off. They do not know how to survive outside the party. They are scared of life outside ZANU PF, a fact that Mnangagwa himself has preached before at political rallies.”

How ‘no deal’ could bring Britain to a halt, by Chris Giles (The Financial Times) *paywall*
“David Davis, the UK’s Brexit secretary, has expressed confidence that Britain will strike a deal with the EU which would provide a smooth path to new arrangements with Brussels rather than a disruptive change. However, a no deal scenario would be disruptive because of the laws governing Britain’s relationship with the EU would cease immediately. “Calling it a legal vacuum would be underplaying where we would be,” says Malcolm Barr, economist at JPMorgan. “I think there would be a significant contraction in GDP.””

Syria: a tale of three cities, by Erika Solomon (FT Magazine) *paywall*
“In Assad’s Syria, people are not only divided from the rest of the country, but from within. The war is not yet over, but his presumed victory has sparked fresh reflections on the fight. What did it mean? How will people heal? Can they even come together again? Across the country, you hear a constant exchange of stories about suffering, loss and survival – a national currency for a society grappling with incomprehensible change.”

China missionaries seek converts along the Belt and Road, by Tom Hancock (The Financial Times) *paywall*
“Beijing’s Zion church is one of dozens in the country to have sent missionaries overseas, as evangelical Christians follow their country’s huge infrastructure push into Southeast Asia and the Middle East, creating a dilemma for the officially atheist Communist party. There are about 1,000 Chinese missionaries outside the country, compared with virtually none a decade ago, according to churches and academics. Church leaders hope to increase their number to 20,000 by the end of the next decade. Those leaders say missionary activity is a natural extension of China’s Protestant movement, which has grown rapidly in recent decades and now numbers about 100m.”

To Understand ‘Brexit,’ Look to Britain’s Tabloids, by Katrin Bennhold (The New York Times)
“The campaign was marked by a relentless drip of anti-immigration rhetoric and a couple of big lies that stuck: the 350 million pounds (about $450 million at current rates) that Britain paid to the European Union every week (false) and the prospect of millions of Turks’ making their way to Britain if it stayed in the union (Turkey is not joining the bloc). Two years ago, the United Nations urged Britain to deal with hate speech in its newspapers, specifically citing a column in The Sun that compared migrants to cockroaches and the norovirus. The tabloids say they merely reflect the concerns and fears of their readers. But their critics say they poison the debate by playing to people’s worst instincts and prejudices, distorting facts and creating a propaganda ramp that mainstreams intolerance and shapes policy.”

What kind of liberal society do we want? by Tim Farron (Theos Think Tank blog)
“If you say you favour diversity and pluralism, then you must oppose all attempts at assimilation and forced conformity.  You may like the idea that people will think the same as you, but you must not aim to build a society where you engineer that via legal or social pressure.  And it is especially on this latter point that liberalism is at risk.”

George Osborne’s revenge, by Ed Caesar (Esquire)
“At a little after 6.30, nearly every weekday morning, George Osborne — 46 years old, tall, rich, boyish, tieless — takes the bus from Notting Hill in west London, where he lives, to Kensington High Street, where he works, orders his breakfast to take away from Leon, arrives at the marbled and airy headquarters of the London Evening Standard, takes the lift to the second floor, enters his corner office, and sets about destroying his political enemies.”

Eat, pray, live: The Lagos megachurches building their own cities, by Ruth MacLean (The Guardian)
“Throughout southern Nigeria, the landscape is permeated by Christianity of one kind or another. Billboards showing couples staring lovingly into each other’s eyes, which appear at first glance to be advertising clothes or condoms, turn out to be for a pentecostal church. Taxi drivers play knock-off CDs of their favourite pastor’s sermons on repeat, memorising salient lines. “I’m a Winner,” read the bumper stickers that adorn the fancier cars, declaring their owners’ allegiance to Winners’ Chapel, a grand white megachurch whose base, Canaanland in the Ota region, is all neat fences and manicured lawns. “Where I’m from, people long for tractors to farm with. Here they just use them to cut grass,” exclaims one visitor, driving through Heaven’s Gate. It is a world away from the throng of people, fumes and rubbish outside.”

Who’s afraid of a secular state? by Nick Spencer (Theos Think Tank blog)
“Secularist countries are rarely happy ones; or, more precisely, rarely happy with being secular. The ideological bloodlessness that is its greatest strength is also secularism’s biggest weakness. Fighting for equal fairness for all makes a great street banner. Human nature finds it a harder task. Those of a more naïve humanist bent, whose anthropology recognises only human goodness and dismisses selfishness as skin deep and cultural, often protest at this, but history is not on their side. Humans are tribal animals. They have strong identities. They are not animals instinctively inclined to arbitrate objectively between tribes or to fight for the rights of other tribal members. We can and we do, but it can often feel like hauling yourself up by your moral bootstraps. We are not naturally secular and, as a result, secular societies often struggle with simmering identity issues.”

Why religion is not going away and science will not destroy it, by Peter Harrison (Aeon blog)
“Global secularisation is not inevitable and, when it does happen, it is not caused by science. Further, when the attempt is made to use science to advance secularism, the results can damage science. The thesis that ‘science causes secularisation’ simply fails the empirical test, and enlisting science as an instrument of secularisation turns out to be poor strategy. The science and secularism pairing is so awkward that it raises the question: why did anyone think otherwise?”

Zambia: Lungu’s state capture is so complete he barely needs to pretend, by Sishuwa Sishuwa (African Arguments blog)
“Lungu has many political and business figures around him, many of whom were marginalised under the late President Sata but have flourished under the new president. This group feels its time in the corridors of power has been too brief thus far and wants more time to accumulate through the state. They can see clearly how those they replaced are now languishing. Senior government and ruling party figures say that this circle has captured virtually all state institutions. The term “state capture” is topical in South Africa, but applies fully to the situation in Zambia too.”

Reflections on the Ten Attributes of Great Investors
, by Michael J. Mauboussin, Dan Callahan, and Darius Majd (Credit Suisse)
“We all walk around with views of the world that we believe are correct. You are compelled to change your mind only when you confront reality that disconfirms your beliefs. The easiest way to avoid the sensation of being wrong is to fall for the confirmation bias. With confirmation bias, you seek information that confirms your view and interpret ambiguous information in a way that is favorable to your belief. Consistency allows you to stop thinking about an issue and to avoid change as a consequence of reason. But great investors do two things that most of us do not. They seek information or views that are different than their own and they update their beliefs when the evidence suggests they should. Neither task is easy.”

How to read Financial News, Morgan Housel (Collaborative Fund blog)
“Every piece of financial news you read should be filtered by asking the question, “Will I still care about this in a year? Five years? Ten years?” The goal of information should be to help you make better decisions between now and the end of your ultimate goals. Read old news and you’ll quickly see that the life expectancy of your goals is higher than that of the vast majority of headlines.”

Protect Africans from unscrupulous auditors, by Jude Fejokwu (The Africa Report)
“Auditors are paid by their clients, but the investing public is meant to believe that audited financial statements meet the required standards of honesty and transparency. History tells us, however, that audit firms’ first loyalty is to the paying client. Africa needs better auditors if its stock exchanges are to become developed markets, attracting substantive local investment.”

The Four Fundamental Skills of All Investing, by Morgan Housel (Collaborative Fund blog)
“If investing were only about numbers, no one would be good at it, because computers would arbitrage away all opportunities. And if it were only about psychology, no one would be good at it, because every investor has different, arbitrary, goals and markets would never coalesce around something objective. Good investing is some part analytical and some part psychological. An art and a science. The trick is knowing when which skill is necessary, and how one affects the other.”

That’s it!

Have a wonderful Christmas and best wishes for the New Year!

Chipo.

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