The Joy of Investing

Investing is presented as an engaging and rewarding pursuit, as opposed to a dull academic exercise. Ben Inker discusses how early lessons from his mentor, David Swenson, taught him that the market's efficiency is dependent on the effort of dedicated individuals analyzing and exploiting inefficiencies. He emphasizes the importance of identifying the economic activities one is engaged in while investing, stressing that successful investing hinges on understanding the value one provides to counterparties. The overarching theme here is that investment can and should be viewed as an enjoyable puzzle, allowing for both intellectual engagement and potential financial reward.