If you want to invest, you must and will have to be able to adapt quickly. There is no way around that. There are some few set and old rules that do not change that easily like ones from Benjamin Graham, Buffet’s most recommended and awarded book. Buffet himself has said that Graham’s book, “The Intelligent Investor”, “is the only book you need for investing. It is a great book indeed and it does provide you with some excellent tips that will withstand the test of time. But even this book, one of the greatest, already has some minor reviews on it that you should be aware.
So, if one of the greatest books ever, the book that made the richest man in the world get at where he is now, has some reviews to be made (search the web, you find plenty of forums and discussions arguing about these changes), probably all the other books might have something to review as well. It is easy to understand why that happens: the world changes and it is changing faster and faster. Something that was meant to be true now is a bit far off from reality. Just a quick example outside of the financial markets is the health industry: it looks like they change EVERY DAY what they think about fat, proteins and carbohydrates. One day is good, the next one is bad and the day after they decided that they don’t know and they will research more. Right.
Always make sure that, when reading, you first check when it was published and under what context and circumstances it was written. It can make a BIG difference of what you think about it. Always put everything you read in perspective of what the author could see at that moment. Maybe something happened just 1 month after its publication and it changed the context in which the book was written.
So, try to emulate the author’s mind when reading and do some research before reading that book. Try to understand the market conditions that the author refers to and what kind of business environment was he set. You will spend a bit longer before starting the book, but it will definitely enhance and help you to get a better understanding of the market as a whole. This way, you shall be able to make your own opinion about the book and not depend solely on some reviews on the web.
Fernando Brinkerhoff is a long time article writer and trader. He also like to spend some quality time browsing around websites like composite landscape timbers and bracelet with a message
Post new comment
Please Register or Login to post new comment.