Reading books is a smart alternative to “learning by doing” and especially when you are in the business of managing money, it certainly pays making friends with top minds in the business. However, not all books are made equal and neither is our spare time infinite to peruse through most of the titles on the shelf. Being a lousy socializer has its own virtues; I get loads of time making friends with eminent dead (and alive too). This blog lists out the few investment books that I have read or intend to read and carries my recommendation (review in few cases) on the same.

This blog is also a vent for me to publish my cynical take on investing and all that crap and noise associated with it. This, however, should not imply that the idea behind the blog is to separate the chaff from wheat (I have no clue what they look like). On the contrary, the thoughts and the recommended books will only add to the already smoky scene. These thoughts however would be very sporadic and will address issues of “fundamental nature” rather than “current noises”.

Also included in the blog are links to resources which provide quality content for free (more or less). Feedback sans the four letter word f*** (and other words of similar disposition) are welcome

Legends (Book Rating)
$$$$$ - Beg, borrow or steal but do read
$$$$ - A must read
$$$ - Certainly worth your dollars and time
$$ - Charity will be a better alternative
$ - I do not read/review trash

Tuesday, July 24, 2007

Mosaic: Perspectives on Investing

Book Title: Mosaic: Perspectives on Investing
Author(s): Mohnish Pabrai
Rating: $$$$
Comment: An introduction to analysis and valuation of stocks for beginners. The book presents the theory behind stock valuation in the most lucid and simple terms possible. Mohnish brings out the essence of valuation which most text books fail to uncover

FAQ:

Q. Which of the following areas is the book best geared at; Investment Philosophy, Hands on Stock Picking, Big Picture/Macro Analysis, Fresh Perspective on Investing, etc?
A. Analysis and valuation of stocks is the overriding theme of the book

Q. Is this book meant for me?
A. Even seasoned investors will get benefited by reading this book

Q. Would it help me become a better investor?
A. Valuation is the cornerstone of any successful investing strategy and this book will help you build the foundation requisite for a successful investor

Q. Is the style of the book dry and boring?
A. Too few pages to consider the style

Q. Is it academically bent and laced with jargon?
A. It de-links valuation from academic jargons



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1 comment:

Unknown said...

Hi,

Thanks for posting some interesting books w/ comments one your blog. I was wondering if you could tell me a bit more about your opinion on Mosaic by Pabrai. I don't know the author (as an investor) very well and I think his Dhando book is pretty crap since- unlike Greenwald- Dhando is not proper valuation. Books I really like are Greenwald and Klarman. The reason is because I'm thinking of buying a paper print for $24.

In an Amazon.com review, it's mentiong that Pabrai estimates cashflow, then uses assumptions for the next ten years and then discounts it with the free risk rate.' That sounds a but nuts and worse yet, he seems to claim that Buffett uses the same method as well! Is this true?

BTW whereabouts in the ME do you live/work? I lived in Jeddah for a couple years. Now I'm in Asset Mgmt in London.

Cheers,

Kamil

October 14, 2007 at 10:41 AM

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