Below is the graph of the Indian benchmark index the BSE Sensex for the year 2020 so far.
23 March 2020 was a significant low for the Sensex. And looking at the way things have played out, the Sensex recovered smartly from the lows and currently it is trading at fresh highs !! Predictions are underway that it will hit 50,000/- mark probably sometime next year. Soothsayers !! 😅 In this roller-coaster ride, you would have
either bought well in March and now sitting pretty on the gains 🙂 or
decided to sell in March thinking the worst is yet to come and now wondering why 🙃 !?
Or maybe you are re-looking at the entire business of investing !?
Or maybe you have thrown in the towel and the last thing you probably need is another book recommendation on money 😅.
How does a book on how to become wealthy stand out? There are so many of them out there. Almost all the material seem at some point repetitive in nature. So why bother with another book on money; what’s new?
First and foremost, I didn’t buy this book; I won this bestseller in a crossword competition. For me the behavioural aspect of finance equated to plain common sense. Was there more to it? It appears so. As Voltaire is famously quoted “Common sense is not so common.” And so beginning with this limited knowledge the book proved an extremely interesting read.
A book filled with inspiring quotes, interesting little known stories, amusing anecdotes; it provides lot of perspectives on wealth and all this minus the number crunching !! Each chapter has a charming title and one ends with a prelude to the next spiking curiosity to keep the pages turning.
There are 20 thought-provoking but small chapters in the book. I enjoyed reading them all and could write a snippet about each, but that would spoil the intrigue. Instead here are five interesting facets that I found beneficial.
 “The trick when dealing with failure is arranging your financial life in a way that a bad investment here and a missed financial goal there won’t wipe you out so you can keep playing until the odds fall in your favour.”
 Buffet – ” His skill is investing, but his secret is time.”
 “Tails drive everything. The idea that a few things account for most results is not just true for companies in your investment portfolio. It’s also an important part of your own behaviour as on investor.”
 “Controlling your time is the highest dividend money pays.”
 “Things that have never happened before happen all the time.”
There is much much more interesting pieces to quote !! The book doesn’t drag on, it presents a case in each chapter and moves on. It’s a good one; finishes fast and gives you plenty to ruminate.
Till next post, take care !!