For those of you who haven’t read my previous posts on the topic, I’ve started writing a series on my stumbling progress from clueless investing to market intelligence. My timing, like the timing of my book, was a little strange.
The book, which covers the state of Colorado’s best road trips, was released just in time for gas prices to shoot up to $4/gallon.
Similarly, my enthusiastic foray into the investing world happened just in time for the biggest financial crisis in recent memory. People are talking about stashing money in their freezers to keep it safe. This isn’t the great American investing paradigm I’m accustomed to.
So, before I dive into Mr. Market once again (I will explore corporate bonds), I’ve decided to leave my investment capital snug inside its savings account. Just a few months ago, savings accounts were deigned by hardcore investors, equivalent to letting your money rot away. Today, they look downright smart.
Instead, I chose to invest in my knowledge bank by purchasing The Snowball, a newly released 700+-page biography of the venerated Warren Buffett. I count the $30 for the book and the opportunity costs of evenings spent absorbing the book as the price of my new investment. If I can make an intelligent move after reading the entire book, it’ll pay off.
I will review the book on Business Pundit when I’m done. I’ll also venture back into Oz…I mean, the market, to continue the series.
Anyone else reading the book?
Thanks for the refreshing post and reminding me to come back to see your review before I buy the book!
I like your own advice frankly — and am also going that way at the moment.
How can we suggest to finance leaders that they bailed out the big boys – and so started with Wall st. recovery, when it would have been fairer and likely more effective to bail out main St. and distribute the money to those of us who lost $ because of Wall St. greed.
They say the money will trickle to us later likely. Why not have it given to us and let it trickle to Wall St later — as that would have shorn up the economy faster and fairer.
Figure out the funds and we’d have required the same amount to make up our investment losses as they gave to bail out fat cats to make up their’s. just a thought and you likely have a better idea:-)
Again thanks.
You couldn’t have picked a better investor to emulate.
The Snowball is good work, but I find Roger Lowenstein’s, Buffett: The Making of an American Capitalist the best reference about the man.
If you’re interested in other great investors, John Bogle is someone else I truly admire and provides excellent investment advice.