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In the days of the past, Investor Conferences were rare if any were held in the first place. These days, I hear about one or the other being organized every month.
The charges for such events don't come cheap. Yet, most events seem to run to packed audiences who are happy to have spent good money to be there.
Last year I attended one such conference in Mumbai. While I was sponsored & hence didn't need to pay, the total cost for most participants from outside Mumbai would be around 20 - 25K at minimum
It was a good event, well organized and had good speakers. I think I even took a few notes in there. Of course, met some good friends who were attending.
1 Year later, I cannot for the love of god remember much about the event. I don't think it changed or even engaged with ideas I already had let alone generate new ideas.
On the other hand, over the last 1 year I have bought more than 30 books. While not every book is a great read, some books have given me perspectives that I may have been missing earlier.
Total cost of all books is still less than most conference fees, let alone travel and accommodation that adds to the expense.
When I read an interesting book, I tend to recommend it here with link. Being an Amazon Associate, I get a small cut of what you buy (total amount I have earned is less than what I spent on Books alone)
More than the money, what interests me is how many actually buy the book. I am not talking about books that cost thousands but a couple of hundreds. A Single Coffee at Coffee Day kind of Expense
Most books aren't bought by more than 10 guys. This even though Twitter says thousands saw and hundreds clicked the link.
Don't remember the book, but the Author made a very interesting point about buying books. He said, for the price of a Starbucks Coffee you are getting access to the lifetime knowledge of the author.
But nope, why bother with reading a few hundred pages when you can interact with a fund manager for a few secs at a hyped up event.
I have been a speaker at one event (2012) and believe me, to really learn what I do, seeing my slides won't help a bit. My learning curve is different from your's
The great way to learn from successful people is not by attending events where they are talking for maybe just 30 minutes.
The best way to learn is to work with them. Having worked with @CK_Narayan earlier and @deepakshenoy currently, can say that its a long process than just meeting them once.
But if you are not from the Industry, you may not be able to get a job with people you may love to work with. The second best alternative, develop a frame work of thought using the people they admire
I am a Momentum guy and yet my last couple of book purchases were on @WarrenBuffett . Reason is that this shall help me interact better with friends who follow the Value strategy
I am currently reading Range by David Epstein (Link: amzn.to/2KDz6wi). Basically tries to answer the question - who is better, Foxes Or Hedgehogs?
My own belief is that to survive in markets, its necessary to be a mile wide even if you an inch deep. It helps you in developing a great framework regardless of the approach you choose.
Events are good for Networking, but its always better to set the expectation right. Enjoy as you would Enjoy a vacation. If you wish to learn, books are better any day.
In the current environment of disturbances (Twitter / FB / Netflix, etc), its tough to devote time. But good habits are always tough, so why not take it up as a challenge. 1 book a month is a great start. Surely, that is accomplish-able.
