Fooled by Randomness by Nassim Taleb
[easyazon_image align=”left” height=”160″ identifier=”0812975219″ locale=”US” src=”http://www.sharkinvestor.com/wp-content/uploads/2016/02/41AEX42XTQL.SL160.jpg” tag=”sharkinvestor00-20″ width=”104″]Who: Taleb’s career spans academia and working as a hedge fund practitioner.
What: Taleb helps explains that investors overestimate causality and see patterns even where there are none. This leads to all sorts of decision making mistakes, if we are not aware of our own biases.
When: Originally published in 2001
Where: [easyazon_link identifier=”0812975219″ locale=”US” tag=”sharkinvestor00-20″]Here[/easyazon_link]
The Most Important Thing by Howard Marks
[easyazon_image align=”left” height=”160″ identifier=”0231153686″ locale=”US” src=”http://www.sharkinvestor.com/wp-content/uploads/2016/02/51wGICTPShL.SL160.jpg” tag=”sharkinvestor00-20″ width=”103″]Who: Marks is the co-founder and chairman of Oaktree Capital Management.
What: Investing is complex, and this book provides a wealth of individual pieces of investment advice, each of which are ironically framed as “the most important thing”. If you put it all together you end up with a complete and solid investment philosophy.
When: Originally published in 2011
Where: [easyazon_link identifier=”0231153686″ locale=”US” tag=”sharkinvestor00-20″]Here[/easyazon_link]
Poor Charlie’s Almanack by Charlie Munger
[easyazon_image align=”left” height=”160″ identifier=”1578645018″ locale=”US” src=”http://www.sharkinvestor.com/wp-content/uploads/2016/02/41Ghlm9DxgL.SL160.jpg” tag=”sharkinvestor00-20″ width=”125″]Who: Munger is the vice chairman of Warren Buffet’s conglomerate Berkshire Hathaway.
What: This book contains a collection of speeches and talks by Charlie Munger, compiled by Peter D. Kaufman. It is written in an unconventional style and promotes a multi-disciplinary approach to decision making. E.g. if you want to be a good investor you need to study other related fields like history, psychology, arithmetic etc.
When: Originally published in 2005
Where: [easyazon_link identifier=”1578645018″ locale=”US” tag=”sharkinvestor00-20″]Here[/easyazon_link]
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