*** New to Value Investing? Start Here... *** Praveen asks “Tell a novice like me on how to start his journey on value investing?” The first few steps in value investing can indeed be difficult, Praveen. Not because of the lack of information. But because of too much information! There are tonnes of books, websites and gurus around. Some excellent and some…well, strictly avoidable. So, my advice is: Don’t be overwhelmed. Limit the confusion by simply learning from the very best. And by far the best (value) investor in living memory is Warren Buffett. The book that changed changed his life is ‘The Intelligent Investor’ by Benjamin Graham. So start with this book. The book is a fantastic blend of hard skills and soft skills required in value investing. In fact, some of the soft skill concepts like ‘Business-like Investing’, ’Mr. Market’ and ‘Margin of Safety’ you’ll find in it are easily the most important you’ll ever come across in value investing. Do keep in mind though that it was written many years ago. So it may take some time to adjust to the author’s style. But it is well worth the effort. I also suggest that you start reading a compilation of Warren Buffett’s letters called ‘The Essays of Warren Buffett: Lessons for Corporate America’ by Lawrence A. Cunningham. You cover a lot of ground when you combine Benjamin Graham and Warren Buffett’s work. Read these two books to begin with Praveen. That’s where you should start. Do let me know if I can be of any further help.
Posted on: Fri, 02 Aug 2013 15:05:39 +0000
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