Monthly Bookmarks –
146th Edition – July 15, 2022
Never, ever, ever, ever compromise on the people you bring into your organization.BYOB: Build Your Own Business Be Your Own Boss, Brian Scudamore, page 95
1. The Best Book on the Texas Banking Crisis?
I recently finished watching the television series Friday Night Lights. Unlike the five-season show, I thought the movie did not capture the spirit of the book. As I was rereading Bissinger’s narrative, I was impressed with his in-depth analysis of the Texas banking crisis in the 1980s when more than 400 banks failed including 9 of 10 of the largest holding companies.
When oil prices started plummeting during this time period, banks started falling one by one. One judge referred to one bank as the Titanic, “regarded as unsinkable, said to withstand the formidable forces of natural laws.” He goes on to say, “If one of its parts were weakened or damaged, the other sections were designed to keep it afloat.”
No one saw the crash coming. Not the industry, nor those serving it, and certainly not the banks. Why not?
Maybe it wasn’t the Titanic at all, but just a Ship of Fools turned mad by money and greed.Friday Night Lights, H.G. Bisssinger, page 210
2. A Minsky Moment
Perhaps economist Hyman Minsky can provide some insight on the Texas banks that failed to see around corners.
When the economy is booming, people forget bad times and reach a little too far, borrow a little too much … too much calm, too much stability, sows the seeds of instability.The Bond King, Mary Childs, page 50
3. Brian Scudamore’s New Book
1-800-GOT-JUNK founder Brian Scudamore considers being on the Oprah Winfrey show in 2003 one of his favorite accomplishments. I’m still impressed with the business he created heavily focused on technology and customer service.
His new book is BYOB: Build Your Own Business, Be Your Own Boss and it’s priced at only $.99 as of this writing. I have not started the book yet, but I’m already looking forward to reading chapter 32, What a Little Company in Denmark Taught us.
4. Can Financial Analysts Learn from Journalists?
Years ago, I took many classes in the humanities including journalism, PR, and communications courses. I still believe that the worlds of journalists and financial analysts collide all the time in parallel professional universes.
How to Organize a Paper: 10 Ways to Structure Your Document for Nearly Any Occasion is an excellent article full of frameworks and concepts on structured writing. But the tools apply in complex banking projects, strategy formulation, and M&A.
5. Coaching and Success
What does it mean to be a successful coach? And I’m not just talking about coaching that occurs in sports. Author and speaker, Jeffrey Marx answers that question by first breaking down two definitions–coach and success. Not only is this one of the best speeches I’ve heard in years, but these definitions are also great. I hope you can carve out some time to watch, and I’m betting you pass around this link when you finish.
With a few references to football, I can’t help sharing my favorite books on (U.S.) football. With the first three, you don’t need to be a fan to like these titles.
- Friday Night Lights
- Season of Life – one of the best books I’ve read in 2022
- Twelve Mighty Orphans
- The Education of a Coach
- Quiet Strength
Thank You For Reading. Thank you for making this a successful newsletter.
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Always be learning and growing.