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Does anybody else here have a Goodreads account to track what you have read / want to read? Mine: https://www.goodreads.com/user/show/22378380-restirw .

 

I recently enjoyed the latest Peter F. Hamilton book, "The abyss beyong dreams". "Ancillary justice" was also great. But I'm a bit of a SF nerd. Snowball and the Paulson / Geithner books were my latest non-fiction reads.

 

I use it, although logging in today after seeing your post was the first time I'd logged in for about 6 months I think.  I'd almost forgot about goodreads.

 

https://www.goodreads.com/user/show/8431549-eric-pavao

 

 

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Boilermaker, I wholeheartedly recommend an elegant universe. Fascinating and easy-to-understand storyline on major breakthroughs in physics. As a science nerd with no formal science education post university, it was great to read.

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Just finished rereading Player Piano. I last read it about 40 years ago!

 

Reading this gave me the sudden urge to re-read Slaughterhouse Five, but I'm on the first edition of The Intelligent Investor, so in the immortal words of Billy Pilgrim, "But I'm not ready yet!"

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Boilermaker, I wholeheartedly recommend an elegant universe. Fascinating and easy-to-understand storyline on major breakthroughs in physics. As a science nerd with no formal science education post university, it was great to read.

 

LC, I started An Elegant Universe today. If you like popular books on physics, one of my favorites is In Search of Schrodinger's Cat by John Gribbin.

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Another update - bold are recommended:

 

Richest Man in Babylon - quick read that has personal finance basics

Hard Things About Hard Things

The Great A&P - Borderline recommended. Same author as The Box which I think ppl enjoyed, therefore I am recommending it. It was interesting to learn about the history of the supermarket

 

How the Scots Invented the Modern World

Maximize Your Potential

The Enlightened Economy: An Economic History of Britain

Art of Profitability

Once Upon a Car

The Signal and the Noise

Pour Your Heart Into It

Naked Statistics

Rosie Project - This was recommended by Bill Gates. It's a fun read.  I think many analytical types can relate to some of the book.

Thinking with Data

Fountainhead

Innumeracy

 

In the middle of The Prize. Good so far, but I was hoping for a more insightful look at the oil industry rather than a historical narrative type book.

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Boilermaker, I wholeheartedly recommend an elegant universe. Fascinating and easy-to-understand storyline on major breakthroughs in physics. As a science nerd with no formal science education post university, it was great to read.

 

LC, I started An Elegant Universe today. If you like popular books on physics, one of my favorites is In Search of Schrodinger's Cat by John Gribbin.

 

Excellent, thanks for the recommendation.

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Just finished Confidence Game, about Bill Ackman's MBIA short.

 

After reading this one and Einhorn's book, you have to wonder how much it pays to be publicly shorting a stock. IMO, its much less painful do the research and wait to short into an decline.

 

In hindsight I'd say that's easy but you have to be good at timing and forecasting macro factors, both of which are nearly impossible. And then you may not get the benefit of buying so cheaply.

 

If i recall correctly from the book, he went public early...like in/around 2003...then proceeded to have paper losses of 99.9% on his original MBIA short.  Doesn't seem like timing was particularly great or that him going public with his short helped either. IMO what mattered was he was right on the facts, and had the conviction to hold even after being down 99%

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The Classic 1934 1st Edition of Security Analysis.

 

I first read Security Analysis more than 20 years ago.  Alas, it was the 5th edition.  At the time, it was the only edition in print, so I'm grateful McGraw-Hill decided to re-publish the first three editions.  I learned a lot reading the 5th, but it was deathly dull, dull, dull.  Graham was dead 12 years when the new 5th edition came out, so his voice and style were gone.  The 1934 1st edition is a truly refreshing read, having Graham's learned but distinctively beautiful prose.  It's really a different book from the 5th, so I should consider this my first reading of the classic. 

 

As a New Year's resolution, I decided to stop logging in to CoBF first thing in the morning, and replace it with reading Security Analysis 1934 edition.  I read a chapter or two before going to the office, and I'm about a quarter of the way through.  It feels great being in a rational, level-headed frame of mind before seeing patients.  (I think I'm a better doctor this year because of this!)  This board is terrifically educational and entertaining, but first thing in the morning is not the best time to meet you guys (some of you feel free mentally to place an emoticon/emoji here).

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The Classic 1934 1st Edition of Security Analysis.

 

I just opened the 2nd edition again. I've read it through twice but like most, remember very little.

 

I have the 1st but never got through it, then I got the 2nd so the 1st was just forgotten and probably never will be opened again.

 

I just finished Luckiest Man: The Life and Death of Lou Gehrig.

I loved it. It was very well written and pretty detailed from what I can see.

 

Next up mixed in with Security Analysis 2nd, Ty Cobb, Roger Maris and Ed Delehanty bios.

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Classics An Investor's Anthology, published by AIMR and Edited by Charlie Ellis.  I am really enjoying it so far, but its mostly a collection of stuff that many of you will have read elsewhere.  I'm also reading Titan - about John D. and Prof. Greenwald's Value Investing. 

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I have the 1st but never got through it, then I got the 2nd so the 1st was just forgotten and probably never will be opened again.

 

Since you already have the 1st, why not read it now, then wait a few years and go on to re-read the 2nd?  I'm planning to do this myself, to be followed by the 3rd, and then the 4th editions over the next decade.  I like getting historical perspectives and seeing how a classic book itself evolves with time:  I might learn something useful in making comparisons.  Plus it's a little surreal to read Graham's concerns and perspectives in the wake of the unprecedented 1929-1932 market, and seeing parallels and contrasts with today's.  Sure, reading all the Graham editions sequentially may be cult-like behavior, but who cares?  It's all part of a good education.

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Since you already have the 1st, why not read it now, then wait a few years and go on to re-read the 2nd?  I'm planning to do this myself, to be followed by the 3rd, and then the 4th editions over the next decade.  I like getting historical perspectives and seeing how a classic book itself evolves with time:  I might learn something useful in making comparisons.  Plus it's a little surreal to read Graham's concerns and perspectives in the wake of the unprecedented 1929-1932 market, and seeing parallels and contrasts with today's.  Sure, reading all the Graham editions sequentially may be cult-like behavior, but who cares?  It's all part of a good education.

 

I've thought about it but the biggest drawback for me is the amount of time it takes to read any edition of SA.

From what I understand the 4th is less Graham. The 1st he hasn't fully taken in the magnitude of 1929 (from what I've heard anyway).

But I see your point on seeing his evolution from this point onward.

 

So yes, maybe I should read it and form my own opinion. I also see the irony of not wanting to read them all due to the time involved since it's taken me 5 years and I'm still not fully through the 2nd edition.

I'm finding this time reading through the 2nd I have to read slowly and take a break every few paragraphs to take it in and think about what he just wrote. It seems to be working as far as my retention goes. The first time I read it I just wanted to get through it. The second time reading it I didn't do much better than the first.

 

I may flip through the 1st it a bit but I don't see reading it through.

 

As for your cult comment, I still want all the editions to put on my bookshelf.........................just because.  ;D

 

Also, add Christy Mathewson and Satchel Paige to my baseball bio list above that I ordered yesterday. It's been a long winter so far. Five weeks until spring training.

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I spent the better part of 6 months way back in 2009 reading various editions of Security Analysis as I wanted to thoroughly understand and internalize what Ben Graham is saying. To help me with this, I created notes consisting of a concise summary of key points, important examples of each chapter. As a next step, using the notes, I then distilled the core into a three page summary.

 

This is by far the best education I had in value investing.

 

I do not have the three page summary available online, but here are my notes of each chapter.

 

http://vinodp.com/documents/investing/security_analysis_index.html

 

Vinod

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I spent the better part of 6 months way back in 2009 reading various editions of Security Analysis as I wanted to thoroughly understand and internalize what Ben Graham is saying. To help me with this, I created notes consisting of a concise summary of key points, important examples of each chapter. As a next step, using the notes, I then distilled the core into a three page summary.

 

This is by far the best education I had in value investing.

 

I do not have the three page summary available online, but here are my notes of each chapter.

 

http://vinodp.com/documents/investing/security_analysis_index.html

 

Vinod

 

Thanks for sharing.

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