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A great investment book that teaches you how to think

November 11th, 2008 · 1 Comment

What is the single most important lesson you have learned from the current financial crisis?

Here is what I’ve learned:

You cannot trust media, gurus, financial advisors, real estate agents, banks, mortgage brokers, etc. There is way too much noise out there in the market. And a lot of people are trying to make money out of you. To take care of your hard earned money, you must be financial literate, and learn to think critically about news, financial products, economics, etc.

It’s not enough to be well-informed. You need to think critically about information and act accordingly.

Too bad, frequently our education system and media "give us a fish, but don’t teach us how to fish".

I recently read a very interesting book. Although the book is about worldly wisdom, I think it’s one of the greatest investment books of our time. It teaches you how to think critically and independently.

The book is recommended by Warren Buffet at Berkshire shareholder’s annual meeting.

It’s written by one of the greatest investors of our time — Warren Buffet’s long-time business partner.

The book is Poor Charlie’s Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition.

Tags: 401K and Money Market · Beat Recession

1 response so far ↓

  • 1 Chrissy // Dec 27, 2008 at 12:33 am

    I came across one of my new favorite author’s web site the other day, John Patrick Lamont at http://www.jpatricklamont.com/ and noticed that he has a new trilogy coming out. It’s about corruption, murder and betrayal which you might be interested in. I chose to use the “main page” link because my comment is directed more towards the author’s main web site.

    John Patrick Lamont draws upon fourteen years of experience working within the life insurance industry to write his novels. “The Worst Kind of Lies” reads more truth than fiction.

    Now is the time to learn more about investments remember to buy low now… and sell high later!

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