Simple But Not Easy: An Autobiographical and Biased Book About Investing

[ASTA]

[amazonsearch]Simple But Not Easy: An Autobiographical and Biased Book About Investing[/amazonsearch]

 

I want to contribute to this forum so here is a gem of a book that's one of the top 3 starting books on investing.

One great quote from the book is when he explains which investment returned the most money from 1997 to 2005?

KO or the Russian index? Ask that question to any of your brokers for a quick answer and its fun to see their guess.

 

He was a money manger for the Rousing family for a while and now runs his own investment company Oldfield Partners. And as a person who likes to copy people he is one interesting person to copy that's not American. However, he likes American stocks too, such as MSFT and CHK.

 

Regarding the book: its packed with behavioral finance, investment anecdotes, investment tips and tricks :D and a little history.  He recommended the Rausing family to be 80% in stocks. Obviously on the security's part of their wealth.

Concentration is also something he champions.

 

As I am a bad reviewer of books my nondescript review is only a staring point to a recommendation but this book is short and good. 

[Guest]

Thanks for the recommendation, asta.

 

You mentioned that it is one of your top 3 starting books on investing. If we've been at it for a while, do you think it's still worth a read?

 

 

[ASTA]

Well I think that good books should be re read. But if you have other books to read as I have Andrew Carnegie at the moment its good to broaden ones knowledge. So maybe ones times are tough or too optimistic its a good read to drive down the basics which are 80% of investing in my view.     

[MrB]

I am biased, because I am a big fan of Richard Oldfield, the author. I was quoting Charlie two days ago when he said, when you choose your heroes, make sure they're dead. Otherwise they will end up disappointing you. Richard is someone that I feel very safe about. Really standup guy.

 

I won't put the book in the top three, but it is certainly a recommended read. I think it will mature into a classic over the years. Just a well rounded entertaining read for investment nuts.

 

Richard is a Fairfax fan too.

[giofranchi]

Thanks for the recommendation, asta.

 

+1

 

giofranchi

 

“As time goes on I get more and more convinced that the right method in investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes. It is a mistake to think that one limits one’s risk by spreading too much between enterprises about which one knows little and has no reason for special confidence. One’s knowledge and experience is definitely limited and there are seldom more than two or three enterprises at any given time which I personally feel myself entitled to put full confidence.” - John Maynard Keynes

[JEast]

Awful, a John Bogle Primer on expenses at best. 

 

True that expenses are a part of the investing endeavor, but to write a book that goes on and on about expenses versus some actionable experience about investing from a 30 year professional seems sad.

[ASTA]

Jeast,

I agree that Bogle have done allot more information on expense and Indexing. Bogel however never even talks about single stock selection. At least this book does go in to limited stock selection and behavioral investment and some history in the stock market regarding stock picking and concentration. Of course as anything else in life if one reads about specific topics one learns more. This is not targeted to Jeast a successful fund manger more towards Bob the collage graduate wanting to learn about (value) investing :D

[manualofideas]

We've done a one-hour interview with Richard Oldfield.  Here's some of it:

and here: