Intelligent Investor's Notes
Five Habits of Highly Successful Investors -#3: Read…read…read
Intelligent Investor
Publish date: Wed, 14 Jan 2015, 02:12 PM
Habit #3: Read…read…read
That’s the best habit that to can have as an investor.
That’s the best habit that to can have as an investor.
Successful investors will tell you that if you just read a company’s annual report, you will be better read than 90% of all investors. And if you read the footnotes (explanations) after the financial statements in an annual report, you’ll be better than 99% of all investors.
Warren Buffett’s business partner Charlie Munger once said, “In my whole life, I have known no wise people over a broad subject matter area who didn’t read all the time – none, zero.”
Buffett and Munger are both well-known for the incredible amount of reading they do. And you can follow their footsteps by starting with reading a lot.
Read books on value investing. Read books on human behaviour. Read books on the financial history of the world. You never know when you’ll find a brilliant idea to add to your repertoire.
Read the daily newspapers, read the annual reports, read the biographies of successful businessmen.
Knowledge is power, and there is no shortcut to success. Not even in investing!
Yes, and it is related to #2. An investor need to know the language of business, and then using it to study the the financial statement and dissect the numbers.
Apart from that , an investor can further read other related materials to equip with better knowledge. There are few information sources that an investor worth to spend time to take a look. And, again the language of business is essential knowledge before you can perform further reading.
- Analyst Report – how the professional analysts view on the company result, future growth capabilities and the valuation of the company.
- Press release \ bursa announcement – latest projects, latest development, etc…
- Industry related data – e.g. CPO price for plantation counter
- Direct experience on company product \ service.
Posted by Intelligent Investor at 15:51
Labels: Habits
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Very carefully read an understand books like One up on Wall St, The Intelligent Investor, Reminiscence of a stock Operator...and then diligently and correctly apply the methods and strategies of these billionaires. Unlikely to be billionaires like them, but chances of making decent money...!
2015-01-14 15:56
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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Francis Bacon says, "Reading maketh a Full Man; Conference A Ready Man; Writing An Exact Man."
In today's English it means, "Reading makes a Person Fully Informed; Speaking a Ready Man & Writing a Precise Man."
The habit of reading and reading is liken to a Man prospecting for Gold among stones. You have to painstakingly turn every piece of stone to find that precious piece of True Gold.
So Reading Is ACTUALLY GENIUS AT WORK - Searching & Researching The Tons Of Material to Uncover THE NEXT GREAT BUY. And when Warren Buffet finds it - He Turns On His Elephant Gun
2014-06-06 21:26