Weekend Reading for the thoughtful investor
A wealth of information creates a poverty of attention” – Herbert Simon
There is a popular saying that you cannot be a good leader without being a good reader. Paraphrasing this, you cannot be a good investor without being a good reader.
Multiple studies have shown that reading is one of the key common traits across all Superinvestors. The investing master themselves have emphasized the key role of reading in the lives of investors.
Superinvestors on Reading
“I don’t think you can get to be a really good investor over a broad range without doing a massive amount of reading.” Charlie Munger
“I’m a passionate reader. That’s why being an investor is the perfect job for me.” Irving Kahn
“I don’t know of any successful investors who come up with good ideas without reading.” Thomas Kahn
“Read voraciously and wait patiently, and from time to time these amazing bets will present themselves.” Mohnish Pabrai
“Read as much as you can about the markets, economy, and financial history. Never stop reading.” Seth Klarman
“I read voraciously and still do. I read lots of business biography because it informs me about human behaviour, how people behave in their business life and how that effect how they will do.” Chuck Akre
Every weekend we will be sharing handpicked useful content which we believe will be interesting, informative , insightful and most importantly useful for an investor. While investors should spend a good amount of time in sharpening their core skill of investing and reading all the good stuff published, it is also vital that the reading should be diverse and multi-disciplinary.
A good investor will need to have a diverse reading list and not just stick to investing and stock market. This helps the investor develop mental models and connect seemingly random ideas.
Don’t take my word for that.
“My whole life I’ve been a reader. I’m curious; I want to know how things work. Even more importantly I want to know what is going to happen. And what’s going to happen is often related to what has happened., I read history, I read psychology, I read finance and business. I read a lot of biographies. I’m drawn to anything that makes me a better person, make me a better investor and make me a better philanthropist or just makes me more knowledgeable about the world.” Seth Klarman
“I think its helps to read broadly, what good does it do to know everything about one little thing if you don’t know how it fits into the world, and how the world is going to effect it.” Howard Marks
“Curiosity is the engine of civilization. If I were to elaborate it would be to say read, read, read and don’t forget to talk to people, really talk, listening with attention and have conversations, on whatever topic, that are an exchange of thoughts. Keep the readingbroad, beyond just the professional. This helps to develop one’s sense of perspective in all matters.” Peter Cundill
“Being a successful investor you need to be hungry, intellectually curious, interested, read all the time. Read a lot of newspapers. You need a certain level of randomness in order to connect things that might give you an insight into where a business is going in five years that somebody else might not see.” Ted Weschler
Cura8, 17th July, 2021
How A Velumani, a landless farmer’s son, built Thyrocare into a billion-dollar behemoth before a surprise sell-off (Forbes)
The Electric-Car Lesson That China Is Serving Up for America (The Atlantic)
True extent of American Food Monopolies and of scale of big food corporations’ market dominance and political power (The Guardian)
Behavior Theory for Individual Investors (Suredividend)
Sounding Good or Doing Good? A Skeptical look at ESG (Prof. Aswath Damodaran)
Don’t Swing at Everything (Stock and Ladder)
Bill Miller Q2, 2021 Market Letter (Miller Value)
Conversation with Jason Zweig
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