18 of my favourite investing books.
Summarized in 18 short tweets:
Summarized in 18 short tweets:
1. Joys of Compounding - Gautam Baid
Achieve financial independence so I can view the world honestly.
It's not about making quick returns.
It's about above average returns over long periods.
Margin of safety is found not just in valuation...
But also in the business quality
Achieve financial independence so I can view the world honestly.
It's not about making quick returns.
It's about above average returns over long periods.
Margin of safety is found not just in valuation...
But also in the business quality
2. Education of a value investor - Guy Spier
Inaction and patience are key to success in investing.
Don't check stock prices everyday.
It’s not enough to rely on one’s intellect to filter out noise.
You need the right environment to do so.
Don't just rely on willpower.
Inaction and patience are key to success in investing.
Don't check stock prices everyday.
It’s not enough to rely on one’s intellect to filter out noise.
You need the right environment to do so.
Don't just rely on willpower.
3. Richer wiser happier - William Green
Bet big and bold, but bet infrequently.
All mistakes in life are caused by reaching for short term highs.
Beware of emotions.
They make you careless when you have big profits...
Or too cautious when you have losses.
Bet big and bold, but bet infrequently.
All mistakes in life are caused by reaching for short term highs.
Beware of emotions.
They make you careless when you have big profits...
Or too cautious when you have losses.
4. Nomad Letters - Nick Sleep
The best investors are not investors.
They're entrepreneurs who never sold.
There is less risk in holding a few stocks but knowing every company well.
Companies that share profits with customers are hard to compete with in the long run.
The best investors are not investors.
They're entrepreneurs who never sold.
There is less risk in holding a few stocks but knowing every company well.
Companies that share profits with customers are hard to compete with in the long run.
5. Art of execution - Lee Freeman-Shor
When a stock drops, I should be ready to buy more of it.
If not, I should not even own it.
The best investors are wrong half the time.
But they win big when they are right...
And lose little when they are wrong.
When a stock drops, I should be ready to buy more of it.
If not, I should not even own it.
The best investors are wrong half the time.
But they win big when they are right...
And lose little when they are wrong.
6. 100 Baggers - Chris Mayer
Put your stocks in a coffee can and don't touch it.
The big money is made in the holding of a business.
Not in the buying or selling.
A 100 bagger needs twin engines of growth:
- Revenue and earnings must grow
- Multiple also needs to expand
Put your stocks in a coffee can and don't touch it.
The big money is made in the holding of a business.
Not in the buying or selling.
A 100 bagger needs twin engines of growth:
- Revenue and earnings must grow
- Multiple also needs to expand
7. The Outsiders - William Thorndike
The best managers keep their teams lean.
Decentralization unleashes entrepreneurial spirit.
They are opportunistic capital allocators:
Take advanatage of high mutiples to sell a business.
Low multiples to buy back shares.
The best managers keep their teams lean.
Decentralization unleashes entrepreneurial spirit.
They are opportunistic capital allocators:
Take advanatage of high mutiples to sell a business.
Low multiples to buy back shares.
8. The sleuth investor - Anver Mandelman
See myself as a field operative, not as a stock scientist
To get information others don't have, leave my computer desk.
See things physically and go into the real world to observe.
Focus on the people: customers, suppliers, employees
See myself as a field operative, not as a stock scientist
To get information others don't have, leave my computer desk.
See things physically and go into the real world to observe.
Focus on the people: customers, suppliers, employees
9. The little book that builds wealth - Pat Dorsey
4 main types of moats:
- Intangible assets
- Network effect
- Switching cost
- Cost advantage
It’s easy to get caught up in fat profit margins..
But the duration of those fat profits is what really matters.
4 main types of moats:
- Intangible assets
- Network effect
- Switching cost
- Cost advantage
It’s easy to get caught up in fat profit margins..
But the duration of those fat profits is what really matters.
10. Finding the next Starbucks - Michael Moe
Find companies that are one of a kind.
They don't sell commodities.
They do something different from everyone else.
The most successful growth companies:
- develop their own market niche
- introduce proprietary products
Find companies that are one of a kind.
They don't sell commodities.
They do something different from everyone else.
The most successful growth companies:
- develop their own market niche
- introduce proprietary products
11. Free Capital - Guy Thomas
The biggest asset a full time investor has is their time.
There are diminishing returns after the first few hours of researching a company.
I don't need to research everything about a business.
Write things down and make my own notes.
The biggest asset a full time investor has is their time.
There are diminishing returns after the first few hours of researching a company.
I don't need to research everything about a business.
Write things down and make my own notes.
12. Only the best will do - Peter Seilern
Have high standards for what I let into my portfolio.
Find growth that is driven by structural change and secular tailwinds.
High quality companies are not immune to market drops and crashes...
But they bounce back faster.
Have high standards for what I let into my portfolio.
Find growth that is driven by structural change and secular tailwinds.
High quality companies are not immune to market drops and crashes...
But they bounce back faster.
13. Intelligent fanatics project - Ian Cassel
Find owners who do right by the customer.
They prioritize employee happiness and culture.
They pay their team based on sales and output, and know how to drive their employees.
They understand the power of incentives.
Find owners who do right by the customer.
They prioritize employee happiness and culture.
They pay their team based on sales and output, and know how to drive their employees.
They understand the power of incentives.
14. The investment checklist - Michael Shearn
You want to understand the company today by looking at how it evolved.
Research the business and industry as though you would be taking over as CEO.
Understand the product and what value customers derive from it.
You want to understand the company today by looking at how it evolved.
Research the business and industry as though you would be taking over as CEO.
Understand the product and what value customers derive from it.
15. The psychology of money - Morgan Housel
Financial success is all about psychology.
How you behave is more important than what you know.
Volatility is a fee you must pay to create long term wealth.
Control over your time is the ultimate predictor of happiness.
Financial success is all about psychology.
How you behave is more important than what you know.
Volatility is a fee you must pay to create long term wealth.
Control over your time is the ultimate predictor of happiness.
16. Winning investment habits of Warren Buffett & George Soros - Mark Tier
Monitor the companies you own, rather than their stocks.
The investor who has no criteria is always plagued by self-doubt.
Researching a company is a long process.
If I don't enjoy it, I won't do well
Monitor the companies you own, rather than their stocks.
The investor who has no criteria is always plagued by self-doubt.
Researching a company is a long process.
If I don't enjoy it, I won't do well
17. Almanack of Naval Ravikant - Eric Jorgenson
You can't create wealth through work.
Without ownership, your inputs are closely tied to your outputs.
You don’t get rich by spending your time to save money.
You get rich by saving your time to make money.
You can't create wealth through work.
Without ownership, your inputs are closely tied to your outputs.
You don’t get rich by spending your time to save money.
You get rich by saving your time to make money.
18. Jeff Bezos Amazon letters
Never accept “Either-Or” thinking.
You can invent your way out of any box if you believe that you can
Just by lengthening your time horizon, you can engage in endeavors that others are unable to.
Never accept “Either-Or” thinking.
You can invent your way out of any box if you believe that you can
Just by lengthening your time horizon, you can engage in endeavors that others are unable to.
If you enjoyed this...
Follow me here at @heymaxkoh
I share how I attained financial freedom before age 30 through investing.
If you'd like me to do a specific book summary, let me know in the comments.
Also check out this in depth book summary:
Follow me here at @heymaxkoh
I share how I attained financial freedom before age 30 through investing.
If you'd like me to do a specific book summary, let me know in the comments.
Also check out this in depth book summary:
https://twitter.com/heymaxkoh/status/1447570632233738240?s=20
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