Wednesday, May 14, 2008

To read or not to read

I just finished reading the Warren Buffett Way by Robert G. Hagstrom. Not particularly a good read for me, so I'll rather not review it. Sometimes I do wonder if the sequence of the readings will affect the satisfaction of reading a book. I think so, to a huge extent. When I didn't know better, I suppose I'll have thought that the Warren Buffett way will be a good reading. But for me now, it seems a little diluted and leaves me craving for more.

In addition to that book, I also borrowed another tome by Ken Fisher, son of Phil Fisher. The book is titled "100 Minds that made the market". I mean it when I said that it's a tome. Specifically, it's a 390 over pages thick tome about 100 individuals who made contributions (either good or bad) to the investment sphere that we know today.



The reason why I borrowed it is because (in order of importance)

1. It's a brand new book - I'm such a sucker for new books because I loved the smell of it. Nothing excites me more than reading a brand new book for the first time :)

2. I love reading the past. There are 100 individuals listing in the book, detailing in 2-3 pages their autobiography and their impact. I think I'll be wonderful to trace the history of all these people.

However, given my time constraints, I'm afraid I'll have to forego reading that book. It's unfortunate but necessary. I still have a list of readings that are more urgent than the history. These are:

1. The Intelligent Investor - I've not finished reading it despite having it for some time. It wasn't a good read for me the last time I tried reading, since I'm more inclined towards trading. Hopefully my dozens of investment related books will prep me for this blockbuster of a book. Problem about this book is that it's too heavy to carry it around everywhere I go, which makes it hard for me to pursue reading. I read during nonsense waiting time like in the trains.

2. Security analysis - Same as above.

3. Berkshire's annual report - this is the worst of it. I HATE reading from the internet and that is my main inhibition. I'll see if there are print versions of it in the library...that will really really make it more conducive for me.

I'm excited yet fearful of what my holdings will be like in the future. To quote biblical text, let me work out my own salvation with fear and trembling.

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Chairman for bullythebear is going to write a half year report statement coming end of may. Watch out for it!

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I still can't stop browsing the 100 minds that made the market. As Ken Fisher said, he wrote the book for fun, which I think it's true. I read about a few luminaries of the investment sphere, Rothschild, Morgan, John Law, Benjamin Graham, Rowe Price, Charles Ponzi, William Hamilton, John Maynard Keynes, Jesse L. Livermore and Hetty Green. Hetty green is by far the most interesting of them all, also known as the "Witch of Wall street". Perhaps one day I'll just blog about her :)

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