More Free Reading Material On Investing

Want more to read about investing? Here are two sites that have supplied me with a lot of good food for thought. I find these intriguing because while both are written by men well known for their financial acumen, they often sway far from those topics and can touch on politics, family life, and the pursuit of happiness in general.

Warren Buffett – Berkshire Hathaway Shareholder Letters
Every year, Mr. Buffett writes a letter to shareholders that discusses his company’s successes, mistakes, future moves, and a bit of everything else. Although I don’t view him as a deity like many others do, and have no plans to buy any BRK stock, I do find his writing to be easy to follow and often offers fascinating insights to a successful investor’s thought process.

However, I think one thing that people overlook is that Warren Buffett gets very intimate with many of the companies that he invests in, either with close relationships with the management or even by becoming the management for a while. He knows these companies inside and out, and can affect change within them. That’s something the common investor can’t easily emulate.

William Bernstein – EfficientFrontier.com Articles
In addition to being a practicing neurologist, starting a portfolio management company, and writing one of my favorite books on investing – The Four Pillars of Investing, Mr. Bernstein also writes a quarterly article on his website EfficientFrontier.com. It mainly discusses asset allocation, such as his thoughts on commodities, but has also wandered into areas like the housing market and estate taxes.

Here’s an excerpt from this most recent article:

If you want to pick your own stocks and bonds, be my guest. Just don?t imagine that making your decisions on the basis of publicly available information and analysis will lead you anywhere but to the poor house. You?re going to have to look at the primary data and analyze it entirely by yourself. And you?d better be good at it.

Comments

  1. saladdin says:

    Sorry to start off topic but I was wondering if anyone listens to financial themed Podcasts? Is so which ones?

  2. Vanguard has some podcasts.

  3. You’ve been tagged!

  4. While it’s true that the amount of research Warren does on a company is difficult for the average person to do, that’s not to say that you can’t get bargains based on his insight. At this very moment, USG, WFC, and WMT are trading at prices very close to what he paid for them.

    If you really don’t believe that the way Warren picks stocks is the best technique there is, you should read his professor’s book, “The intelligent Investor”. The market is not efficient, and Warren and countless others have shown this many times.

  5. Anne Marie says:

    Ok, can ingnore previous email about FNBO website, when I used explorer a link showed up that wasn’t there in Firefox or Safari to access accounts. Still can’t get online until I get another email, but hopefully that will come on Monday. Frustrating that the rep I talked to yesterday didn’t know I couldn’t use those two browsers, or that they send an email saying they transferred money before they send the email with the account info.

  6. Chandra says:

    Check this website for articles by Wharton professors. Most of the new articles are in itunes & mp3 formats.

    http://knowledge.wharton.upenn.edu/

  7. Stephen says:

    Looking at the Bernstein excerpt, I would tend to agree, but for the human being, not Mr Buffett or another very technical analyst, what practical options do we have… Mutual Funds or ETFs… anything else?

    Are we doomed – yes… it would seem :-)

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