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Galbraith’s book A Short History of Financial Euphoria and reads me his single favorite piece of financial writing, which explores the causes of market euphoria: “The first [cause] is the extreme brevity of the financial memory. In consequence, financial disaster is quickly forgotten. In further consequence, when the same or closely similar
... See moreWilliam Green • Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life
We’re now talking about the two biggest threats to your (or your family’s) long-term investment survival. Chasing Wealth, you may run headlong into a guillotine. But chasing Security is no less deadly a pursuit. In our first-ever issue of Ye Olde Printed Foole, we shared this contrarian line to which we still very much subscribe: “The
... See moreTom Gardner • The Motley Fool Investment Guide: Third Edition: How the Fools Beat Wall Street's Wise Men and How You Can Too
Living, and thinking about it: two perspectives on life
David Aldous • Taleb, Nassim Nicholas. The Black Swan: The impact of the highly improbable. Random House, 2007.
An investor with 14 percent average annual return (20 percent, 40 percent, 20 percent, −50 percent, and 40 percent) over a five-year period underperforms someone with 9 percent average annual return if the latter is consistent every year.
Gautam Baid • The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)
