davidrussell

1 Comment

    • ON: Thu Apr 17th 20:11 PM
      Commented on:
      Book Review: 'The Only Three Questions That Count'
      I am on my second reading of this book and am engaged in a process of summarizing the book for my own edification and that of my friends. The article leaves a lot out, but captures the essence. I think you'd need 10 pages to get all the nuggets in. The most fascinating parts of the book are those which show the reader how to test out hypotheses scientifically using free historical data and free internet tools. This is an approach that can be used not just in finance, but a wide varieity of subjects. There was another book I really enjoyed called something like "It's not what you don't know that gets you into trouble. It's what you do know that ain't true." That's largely the insight of this book. We fail at investing because of our own defense mechanisms, blind spots, and cognitive errors, which are different for different people. Being smart, being educated, having command of the facts, will avail you not, if you are you own worst enemy.

      This will be a classic. It's a good read and profound.
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