Looking for some books for 2021? Here's my list with inspiration from Warren Buffett
I've recently purchased a Kindle and am now starting the task of building up my e-library (my bookshelf, and pretty much every other shelf, is covered in hardcopy books!).
I thought I'd take some inspiration from the Oracle of Omaha (well, he is sitting on almost $130 billion dollars).
So here are a few books to enjoy in 2020 (with links to the Amazon Kindle edition if possible)
Charlie Munger: The Complete Investor by Tren Griffin
Charlie is Buffett's longtime business partner and vice president of Berkshire Hathaway (whose share price, BTW, is well over US$300,000!). Griffin writes about the 'worldly wisdom' of Munger and the mental models he applies to his work.
The Intelligent Investor by Benjamin Graham
This is the book that changed Buffett's life (it has been in my collection for years). He once said (in a 2011 shareholder letter) "Picking up that book was one of the luckiest moments in my life". Say no more!
A Few Lessons for Investors and Managers from Warren Buffettedited by Peter Bevelin
This is a short, easy read where Buffett explains how he thinks about business valuation, traits of good and bad business, how to reduce risk, corporate governance, and the importance of trust.
The Clash of the Cultures: Investment vs Speculation by John C. Bogle
Speculation is probably the most common approach to investment (though professional investors won't admit it) and has caused some pretty horrific problems IMHO (just look at Sydney and Melbourne housing and land speculators - I read an article (can't find link - sorry) that showed median prices in Sydney were about $450,000 overvalue*!).
This book covers 10 simple rules of "common sense investing" - it also takes a hard look at speculation in the US national retirement system (something also present in Australia)
There are, of course, many more books to read - I have a huge backlog which includes Escape from Cubical Nation by Pamela Slim, Growing Great Employees by Erika Andersen, How the Scots Invented the Modern World by Arthur Herman, Behave - The Biology of Humans at our Best and Worst by Robert Sapolsky, and The Trans Siberian Railway - A Traveller's Anthology by Deborah Manly
Well - that should get you started! Remember, if I can paraphrase Warren Buffett, knowledge is like compound interest, it builds up!
* I should point out that speculators in the housing market are only a part of the problem - which I don't believe anyone in government has really got their head around (and some don’t realise we have a problem - a result of anthropocentric bias - but I digress).