Good reads from around the Web.
I am determined to read more books in 2015. The Internet’s vast buffet is fabulous for knowledge gluttons like me, but there’s something about getting stuck in the world of a good book that’s the antithesis of all that hyperactive hyperlinking.
Is there a slow reading movement? I won’t Google it to find out…
Instead, here’s some books from 2014 that I’ve either read or wish I had.
It’s not too late to grab one for Christmas for the investing nerd in your life – which may well be you.
(All blue titles take you to the Amazon listing.)
The Education of a Value Investor [1]
I have recommended this account by a chastened hedge fund manager to all my active investing friends, but I get the impression few have read it. That’s a shame – there’s true wisdom and humility here.
Fast Forward: The Technologies and Companies Shaping Our Future [2]
This is the book to read if you want to win from the shift to robotics, 3D printing, artificial intelligence, cloud computing and all the rest of it, rather than risk being left on the scrapheap.
Saving the City: The Great Financial Crisis of 1914 [3]
This came out at the fag end of 2013, and I missed it until Merryn mentioned it in the FT. For anyone who likes a good crash!
Boy Plunger Jesse Livermore: The Man Who Sold America Short [4]
Like many seasoned active investors, I’ve poured through Jesse Livermore’s infamous recollections [5]
The Innovators: How a Group of Inventors, Hackers, Geniuses and Geeks Created the Digital Revolution [6]
Some say this could be the definitive history of the creative geniuses and smart engineers who made the modern world.
Capital in the Twenty-First Century [7]
No, I’ve not read Thomas Piketty’s vast, headline hogging explanation of rising inequality yet, either. Reviews were mixed. I agree there’s a problem though.
Creativity, Inc.: Overcoming the Unseen Forces That Stand in the Way of True Inspiration [8]
One of the best stockpickers I know never reads about investing, but he gorges on books about business. This one by a Pixar founder is a favourite.
The Shifts and the Shocks [9]
Martin Wolf of The Financial Times has been one of the most clear-headed guides throughout the past seven years of dislocations in the financial and economic spheres. Here he sums up what he thinks we’ve learned – and what we’ve yet to appreciate.
Stress Test: Reflections on Financial Crises [10]
You’re probably not supposed to find former Treasury Secretary Tim Geithner’s book laugh-out-loud funny, but I snorted my way through it. More bitchy and candid than we’d any right to expect.
Shredded: Inside RBS, the Bank That Broke Britain [11]
Remember Fred Goodwin? Author Ian Fraser does. Rave reviews.
Passive investing books
I didn’t read any new and definitive passive investing books aimed at the UK in 2014. The good news is my co-blogger, The Accumulator, swears he’s going to pull together his own book in 2015! But for now I can only point yet again to Monevator contributor Lars Kroijer’s Investing Demystified [12]
Have a good one
We have an article to come on Tuesday admitting that investing in risk premiums may not be all that, and I’ll try to pull together a best of 2014 selection for next Saturday.
Otherwise, it’s time for a mini break. Hope you enjoy yours, too.
Merry Christmas!
From the blogs
Making good use of the things that we find…
Passive investing
- Is it time to overweight energy stocks? – Oblivious Investor [14]
- Get used to your portfolio being down – The Irrelevant Investor [15]
- Advocating ignorance? […] – Sigmund Holmes [16]
Active investing
- Lessons from the oil crash [PDF] – Howard Marks [17]
- Investing gap between theory and practice – Oddball Stocks [18]
- Four legs of the investing stool – Investing Caffeine [19]
- Oil: A slippery business – Under the Money Tree [20]
- 18 questions to help you avoid value traps – UK Value Investor [21]
- Flaws in the Carpetright investing case – The Value Perspective [22]
- Is Google the next “Apple at $400”? – Microfundy [23]
Other articles
- Volatility versus loss – The Reformed Broker [24]
- How to save your money and increase your happiness – AWOCS [25]
- Everyone is broken and life is hard – the slow hunch [26]
- How you know – Paul Graham [27]
- 5 ways to cut your monthly bills – The FIREStarter [28]
- It kills me to see my employees blow their bonuses – Business Insider [29]
Product of the week: Are 10-year fixed rate mortgages catching on? TSB [30] and Santander [31] have both rushed out keen rates this week, reports The Guardian [32]. Rates start at an incredible 3.44%, and to me the TSB one looks a winner. (Though not to the rich [33], apparently).
Mainstream media money
Some links are Google search results – in PC/desktop view these enable you to click through to read the piece without being a paid subscriber of that site.1 [34]
Passive investing
- Explaining the Value Premium – Swedroe/ETF.com [35]
- Will there be a Santa Claus Rally? – Roth/AARP [36]
- Investing wisdom from 3 experts – Vanguard [37]
- Explaining ETFs to my dad – Vanguard Blog [38]
- How passive investors could boost active managers – CIO [39]
Active investing
- Rob Arnott: Emerging markets are worth the risk – Bloomberg [40]
- The conventional theory on oil is always wrong – FiveThirtyEight [41]
- Amazon may not be unstoppable – NY Times [42]
- How to buy Russia on a double discount – Telegraph [43]
- 10 cheap UK shares – ThisIsMoney [44]
- Why OPEC is between a rock and a hard place – Motley Fool US [45]
Other stuff worth reading
- How to spot a trading hoax – Guardian [46]
- Best and worst paying UK jobs – ThisIsMoney [47]
- The opposite of a role model – Housel/Motley Fool US [48]
- Let’s build houses on supermarkets’ surplus land – ThisIsMoney [49]
- The mystery of disappearing/reappearing bank balances – Guardian [50]
- A disgruntled finance worker writes to Russell Brand – Independent [51]
- Don’t make assumptions about your inheritance – WSJ [52] [Featuring Mike [53]]
- Why so many young marriages are over by 30 – Guardian [54]
- Where did America’s working age men go? – NY Times [55]
Book of the week: I enjoyed Walter Isaacson’s biography of Steve Jobs [56]
Like these links? Subscribe [59] to get them every week.
- Reader Ken notes that: “FT articles can only be accessed through the search results if you’re using PC/desktop view (from mobile/tablet view they bring up the firewall/subscription page). To circumvent, switch your mobile browser to use the desktop view. On Chrome for Android: press the menu button followed by “Request Desktop Site”.” [↩ [63]]