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VV Reads, Vol. 61: Circle of Competence 101, The 400% Man, & a Net Neutrality Case Study

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Chart of the WeekCircle of Competence 101 - Vintage Value Investing

Source: Safal Niveshak

Books

Big Money Thinks Small: Biases, Blind Spots, and Smarter Investing
by Joel Tillinghast

In Big Money Thinks Small, veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including:

  • Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception.
  • Make decisions based on your own expertise, and do not invest in what you don’t understand.
  • Select only trustworthy and capable colleagues and collaborators.
  • Learn how to identify and avoid investments with inherent flaws.
  • Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks.

Links

  • The 400% Man: How a college dropout beat Wall Street, and why most managers are scared to copy him (MarketWatch)
  • Why I’m keeping my powder dry (FT Advisor)
  • Amazon is so good at keeping prices low, it’s changed how economists think about inflation (Quartz)
  • Net Neutrality: A Case Study With JetBlue and Amazon (WSJ)
  • Billionaire Leon Cooperman: If Hillary Clinton had won the presidency, the US would be in a recession (CNBC)
  • The Value of Dividend Growth Investing (Logical Invest)
  • Benoit Mandelbrot’s Ideas about Investing and Markets (Made as Simple as Possible, but not Simpler) (25iq)
  • The Future Is Bumpy: High-Tech Hedge Fund Hits Limits of Robot Stock Picking (WSJ)
  • Ray Dalio on The Fine Art of Failure (The Big Picture)

What are you reading this weekend? Drop a link in the comments section below or shoot me an email.