Richer | Wisher | Happier – I

It’s a unique book in the invest realm written by the journalist William Green. He has interviewed some of the world class investors, namely Mohnish Pabrai, Sir John Templeton, Howard Mask, Nick Sleep and more. The author narrates the mindset of these investors and the principles followed by them.

The book starts greatly by discussing the cloning technique in the first chapter. If there is any single take away from the book, then it is to clone the tested principles of the masters. The common theme followed by each of the investors is to buy cheap and to buy cheap, you need to wait. It is tough to wait, especially when you have a lot of cash. Patience is a tough skill to have but it can be developed just like other skills.

Secondly, the market is cyclic in nature. In a bull market it seems like the things will never change and in the times of crisis it seems like world is about to end. However, the world never ends. It survived everything, including the world wars, the great depression and currently surviving the pandemic. However, the most expensive four-word sentence in the world “This time it’s different” makes us blind every time.

Lastly, it is of utmost importance to have a strong inner card, which is way difficult in this glamorous world. Do you want to be the best lover in the world and be known as the worst publicly or do you want to be the worst lover in the world and be known as the best publicly? Just to remind you, knowing the right answer and executing it are different things.