Originally published in 2005, Poor Charlie's Almanack is a collection of eleven talks delivered by Charles T. Munger between 1986 and 2007. Edited by Peter D. Kaufman, this book draws on Munger's extensive knowledge across various fields to provide a framework for rational and rigorous approaches to life, learning, and decision-making. It is renowned for its sharp wit and rhetorical flair, making it an essential read for investors, entrepreneurs, and anyone seeking to enhance their wisdom and critical thinking skills.
Written by Benjamin Graham, 'The Intelligent Investor' is a seminal work on value investing that has inspired millions since its original publication in 1949. The book emphasizes the importance of distinguishing between investing and speculation, calculating the intrinsic value of companies, and maintaining a margin of safety. The revised edition includes updated commentary by Jason Zweig, who provides modern examples and insights to help readers apply Graham's principles in today's market. Warren Buffett, a disciple of Graham, has praised the book as 'the best book about investing ever written'.
This book is an edited collection of reminiscences by Richard Feynman, based on recorded audio conversations he had with his friend and drumming partner Ralph Leighton. It covers a variety of instances in Feynman's life, including his work on the Manhattan Project, his critique of the science education system in Brazil, and his various hobbies such as safe-cracking, painting, and playing the bongo drums. The book also includes his famous 'Cargo Cult Science' lecture, where he cautions against the superficial appearance of scientific investigation without a self-critical attitude. Feynman's stories are lighthearted yet insightful, reflecting his high intelligence, curiosity, and humor.
In 'Where Are the Customers' Yachts?', Fred Schwed Jr. delivers a witty and incisive critique of the financial industry, exposing the myths and misconceptions that pervade Wall Street. The book humorously explores how financial professionals often prioritize their own wealth over clients' financial well-being, and it offers insights into human psychology and investment behaviors. First published in 1940, the book remains relevant today, cautioning investors to approach financial advice with skepticism.
On episode 163 of The Compound and Friends, Michael Batnick and Downtown Josh Brown are joined by Jason Zweig of the Wall Street Journal to discuss: the best investing book ever written, what Ben Graham would think about today's market, buffered ETFs, Jason's last conversation with Charlie Munger, and much more!
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