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

Pioneering Portfolio Management

Book Title: Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment
Author(s): David F. Swensen
Rating: $$$$$
Comment: A definitive book on Portfolio Management that has changed the way institutions managed funds. Benjamin Graham of modern times, David Swensen has packed the book with wisdom and insights on a wide spectrum of investment topics

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. Though investment philosophy is the book’s forte, it hardly leaves any area untouched

Q. Is this book meant for me?
A. People, right from the chairman to entry level will benefit

Q. Would it help me become a better investor?
A. Suggest me a better source

Q. Is the style of the book dry and boring?
A. The insights gained more than compensates the pain of reading a dry & long subject. For a professional this book will prove too compelling a read

Q. Is it academically bent and laced with jargon?
A. This book has changed the thinking of practitioners and preachers alike


Author’s Bio (from the book’s jacket or elsewhere):
DAVID F. SWENSEN is Yale University’s Chief Investment Officer and manages the university’s $10 billion dollar endowment as well as several hundreds of millions of dollars in other investment funds. He serves as a trustee of the Carnegie Institution of Washington, Member of the Hopkins Committee of Trustees and Member of the Investment Advisory Committee for the Howard Hughes Medical Institute. He has served as advisory to the Carnegie Corporation, the New York Stock Exchange, the Investment Fund for Foundations, the Edna McConnell Clark Foundation and the States of Connecticut and Massachusetts. Mr. Swensen also teaches classes on portfolio management at Yale in New Haven
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