Guy Spier may not be as famous as some of the other investors whose books I have reviewed. However, he has managed to deliver an enviable track record since founding the Aquamarine Fund in 1997. Since inception to 2018, the Aquamarine Fund returned 463%, versus a return on the S&P 500 of 167%. A $1m … Continued

“I came to the psychology of human misjudgement almost against my will; I rejected it until I realised that my attitude was costing me a lot of money, and reduced my ability to help everything I loved” – Charles Munger A startling admission by one of the most admired investors of all time. Charlie Munger … Continued

Seth Klarman is widely recognised as one of the greatest value investors of all time. He is CEO and Portfolio Manager of the Baupost Group, a hedge fund managing over US$31 billion. His book, Margin of Safety is a value investors’ classic. Klarman practically explains the philosophy of value investing and the logic behind it. … Continued

Howard Marks is the Chairman and Founder of Oaktree Capital Management, an investment firm managing over $120B. This is not a how to invest book and you will not find any step by step instruction. When it comes to investing, Marks believes there is no sure-fire recipe for success. This book, “The Most Important Thing”, … Continued

Long before the term disruption was popularised by Silicon Valley, high quality business managers were alert to the existence of change. In fact, Joseph A. Schumpeter, in Capitalism, Socialism and Democracy noted: “But in capitalist reality…it is not competition which counts but the competition from the new commodity, the new technology, the source of supply, … Continued

Today I review the investment classic authored by Christopher Browne, ‘The Little Book of Value Investing’. Browne was a partner at Tweedy, Browne Company – the oldest value investing house on Wall Street. Again, I recommend reading the book in its entirety. However, here are my favourite chapters. Buying earnings on the cheap Browne emphasises … Continued

Originally published in 1955, The Great Crash 1929, provides a timeless reminder of the economic consequences of financial speculation, excess leverage, and herding. Many parallels can be drawn between The Great Crash of 1929 and the Global Financial Crisis of 2008. There are moments in this book where you may mistakenly believe you are reading … Continued

Warren Buffett once described himself as being 85% Ben Graham and 15% Phil Fisher. If Ben Graham is the father of value investing, Phil Fisher is the father of growth investing. The primary difference between the two philosophies is clear. Ben Graham’s investments tend to benefit from a one-time profit. However, Phil Fisher’s investments enjoy … Continued

I wanted to change the pace from looking for cheap companies to looking for expensive companies. Welcome to book number 9 in my top 10 investment books of all time, “The Art of Short Selling”. The author, Kathryn Staley, is an expert in the field of short selling and the book has a wide following … Continued

This is books ranks number 10 in my top 10 investing books of all time. I hope this and my other reviews provide you with some new perspectives that improve your investing. This book is a must read for any keen investor. However, don’t let the awkward title turn you off. The author is Joel … Continued