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The Allocator’s Edge: A Modern Guide to Alternative Investments and the Future of Diversification – Phil Huber
Non-fiction / 4th September 2023

Introduction The Allocator’s Edge is about alternative investments. The author writes this book for financial advisors and investment professionals who want to do better than status quo. This book is recommended by a columnist on Forbes website. I would like to know what alternative investments are available and how they may fit into my investment portfolio. Author of The Allocator’s Edge Phil Huber is the chief investment officer for Savant Wealth Management. He has been involved in the financial services industry since 2007. He worked for Huber Financial Advisors from 2008 until it joined with Savant in 2020.  Contents The Allocator’s Edge contains an introduction, a How to Use This Book, and 12 chapters. The chapters are divided into 3 parts, namely The Allocator’s Dilemma (3 chapters), The Past, Present and Future of Alternative Investments (6 chapters), and Building Better Portfolios (3 chapters). The chapters are: 1. Hindsight is 60/40 – The Impaired Vision of Traditional Portfolios 2. Alternatives – The Most Loaded Word in Investing 3. How Investors Got to Now – The Evolution of Asset Allocation and the Democratisation of Alternatives 4. Too Big to Ignore – The Usual Suspects of Alternative Investing 5. When Alpha Met Beta –…

Winning the Loser’s Game: Timeless Strategies for Successful Investing – Charles D. Ellis
Non-fiction / 16th July 2023

Introduction Winning the Loser’s Game is a book that makes a case for indexing. This is my last unread recommended book from Richer, Wiser, Happier. The author wants the readers to understand the realities and know how to take appropriate action to convert the usual loser’s game into a winner’s game in which every sensible investor can and should be a long-term winner. I would like to see if there is any new thing in this book. Author of Winning the Loser’s Game For more information about Charles D. Ellis, you may refer here. Contents Winning the Loser’s Game contains a preface, an introduction, 28 chapters, and 3 appendices. The chapters are: 1. The Loser’s Game 2. The Winner’s Game 3. Beating the Market 4. Mr. Market and Mr. Value 5. The Investor’s Dream Team 6. Investor Risk and Behavioural Economics 7. Your “Unfair” Competitive Advantage Indexing 8. The Paradox 9. Time 10. Returns 11. Investment Risks 12. Building Portfolios 13. Whole Picture Finance 14. Why Policy Matters 15. Playing to Win 16. Challenges with Performance Measurement 17. The Dark Matter of Investing 18. Predicting the Market – Roughly 19. Individual Investors 20. Selecting Mutual Funds 21. Phooey on Phees 22….

Enough: True Measures of Money, Business, and Life – John C. Bogle
Non-fiction / 27th June 2023

Introduction Enough contains John C. Bogle’s life story and his advice. The author wrote down his opinions on money, on what we should be proud of and ashamed of in our business and professional callings, and on what are the false and true treasures in our lives. This book was recommended in Richer, Wiser, Happier. The is my fifth book from its recommended book list. I am just continuing my mission of finishing my unread recommended books from Richer, Wiser, Happier. Author For more information about John C. Bogle, you may refer here. Contents Enough has an introduction, 10 chapters, a wrapping up (What’s Enough?), and an afterword. The chapters are divided into 3 parts: Money (3 chapters), Business (4 chapters) and Life (3 chapters). The chapters are 1. Too Much Cost, Not Enough Value 2. Too Much Speculation, Not Enough Investment 3. Too Much Complexity, Not Enough Simplicity 4. Too Much Counting, Not Enough Trust 5. Too Much Business Conduct, Not Enough Professional Conduct 6. Too Much Salesmanship, Not Enough Stewardship 7. Too Much Management, Not Enough Leadership 8. Too Much Focus on Things, Not Enough Focus on Commitment 9. Too Many Twenty-First-Century Values, Not Enough Eighteenth-Century Values 10. Too…

A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and Market – Edward O. Thorp
Non-fiction / 5th June 2023

Introduction A Man for All Markets contains Edward O. Thorp’s life story and his wisdom. This book was recommended in Richer, Wiser, Happier. The is my fourth book from its recommended book list. The author hopes his story will help the readers think differently about gambling, investments, risk, money management, wealth-building, and life. I would like to see if I can learn new things in this book. Author For more information about Edward O. Thorp, you may refer here. Contents A Man for All Markets has a preface, a foreword by Nassim Taleb, 30 chapters, and an epilogue. The chapters are: 1. Loving to learn 2. Science Is My Playground 3. Physics and Mathematics 4. Las Vegas 5. Conquering Blackjack 6. The Day of the Lamb 7. Card Counting for Everyone 8. Players Versus Casinos 9. A Computer That Predicts Roulette 10. An Edge at Other Gambling Games 11. Wall Street: The Greatest Casino on Earth 12. Bridge with Buffett 13. Going into Partnership 14. Front-Running the Quantitative Revolution 15. Rise… 16. … And Fall 17. Period of Adjustment 18. Swindles and Hazards 19. Buying Low, Selling High 20. Backing the Truck Up to the Banks 21. One Last Puff 22….

Fortune’s Formula: The Untold Story of the Scientific Betting System that Beat the Casino and Wall Street – William Poundstone
Non-fiction / 18th May 2023

Introduction Fortune’s Formula is mainly about the Kelly criterion. This book was recommended in Richer, Wiser, Happier. The is my third book from its recommended book list. I would like to see what be can learned from this book to apply in the stock market. Author William Poundstone is an American author and columnist. Contents Fortune’s Formula has a prologue (The Wire Service) and 6 parts. As these 6 parts contain quite a lot of chapters, I am not going to list them here. Part One is Entropy. Part Two is Blackjack. Part Three is Arbitrage. Part Four is St. Petersburg Wager. Part Five is RICO. Part Six is Blowing Up. Part Seven is Signal and Noise. Review Fortune’s Formula is more like a biography, rather than an investment book. It features a lot of people, either directly or indirectly involved in the stock markets, including Claude Shannon, the father of information theory, and Edward O. Thorp. It reveals the backers of Edward O. Thorp in Beat the Dealer which Thorp concealed in his book. The main thing that is discussed in this book is the Kelly formula. According to the author, it is the best strategy for a gambler as…

Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markers and Life – William Green
Non-fiction / 18th October 2022

Introduction Richer, Wiser, Happier discusses the principles, process, insights, habits, and personality traits that enable a tiny minority to beat the market in the long run. The author would like to reverse engineer these investors’ winning ways. This book is recommended by a columnist on Forbes website. I would like to learn the winning ways of these great investors. Author William Green is an author and editor. He has written for many leading publications in the US and Europe. Besides that, he has interviewed a number of most successful investors. Contents Richer, Wiser, Happier is made up of an introduction (Inside the Minds of the Greatest Investors), 8 chapters and an epilogue (Beyond Rich). The 8 chapters are 1) The Man Who Cloned Warren Buffett, 2) The Willingness to Be Lonely, 3) Everything Changes, 4) The Resilient Investor, 5) Simplicity is the Ultimate Sophistication, 6) Nick & Zak’s Excellent Adventure, 7) High-Performance Habits, and 8) Don’t Be a Fool. Review Richer, Wiser, Happier features a number of investors. The author thinks that by studying these investors, we could learn not only how to become rich, but also to improve our decision making skill. Investing is about calculating the odds, thus…

Guide to Investment Strategy: How To Understand Markets, Risk, Rewards and Behaviour – Peter Stanyer, Stephen Satchell
Non-fiction / 14th February 2022

Introduction Guide to Investment Strategy is an investment book. This book aims to address the concerns of retail investor. I would like to learn about the recommendations of two economists on investing. Author Peter Stanyer is an economist and strategist at a London-based private wealth manager. He was previously chief investment officer of a US-based investment firm, a managing director at Merrill Lynch and investment director of the UK’s Railways Rail Pension Fund. He has also worked as an economist for the Bank of England and the IMF. He won the Adam Smith prize for economics when he was at Cambridge University. Stephen Satchell is Economics Fellow at Trinity College Cambridge, and is a Professor at the University of Sydney. He is The Reader in Financial Econometrics (Emeritus) at Cambridge University, and is an Honorary Member of the Institute of Actuaries. He is an academic advisor to numerous financial institutions. Contents Guide to Investment Strategy has a total of 11 chapters which are divided into 2 parts. It also has an introduction (Back to basics, again) and 2 appendices. Part 1 is The Big Picture. There are 6 chapters here. These chapters are 1) Setting the scene: What is risk…

The Smart Money Method: How To Pick Stocks Like A Hedge Fund Pro – Stephen Clapham
Non-fiction / 19th November 2021

Introduction The Smart Money Method is a book about investment strategy. The author presents his investment process from finding the original idea to buying, monitoring and selling. He would like to improve the readers’ investment performance with this book. I would like to know how hedge fund managers choose the stocks to be included in their portfolios and see if I could implement some methods to improve my returns. Author Stephen Clapham is the founder of Behind the Balance Sheet. He spent some 20 years as an equity analyst at different investment banks, covering various sectors, and was consistently rated in the top 10 in his sector. He moved to the buy-side in 2005 and was a partner and head of research at 2 multi-billion dollar hedge funds; he specialised in using a deep dive research approach to identify special situation opportunities. Contents The Smart Money Method has a preface, an introduction, and 14 chapters. The chapters are 1) What Makes A Good Investment?, 2) Finding Ideas, 3) Testing the Hypothesis, 4) Understanding the Industry, 5) Quality, 6) Analysis of Company Quality, 7) Management, 8) Company Financials, 9) Valuation, 10) Communicating the Idea, 11) Maintaining the Portfolio, 12) Macro-Economic Analysis,…

How I Invest My Money: Finance Experts Reveal How They Save, Spend, and Invest – Joshua Brown, Brian Portnoy
Non-fiction / 3rd October 2021

Introduction How I Invest My Money is a personal finance book rather than an investment book. It is a collection of personal stories of financial experts. The editors hope that the readers could learn from this book and feel more confident in managing own money. I found this book being recommended in an investment blog and would like to see if my guess of their using mostly low-cost investment vehicles is true or not. Authors Joshua Brown is an American author, columnist, blogger (The Reformed Broker), commentator on CNBC, and CEO of New York City-based Ritholtz Wealth Management. He is also a contributing columnist to Yahoo! Finance, Business Insider, and serves on the board of advisors for Brightscope and Upside. Brian Portnoy is the founder of Shaping Wealth, a financial wellness platform. He has served as keynote speaker, seminar leader, and coach to thousands of investors on topics ranging from portfolio strategy to the connection between money and happiness. For more than 20 years, he has worked in the hedge fund and mutual fund industries as portfolio manager and educator.  They are both editors and authors of their own chapter in this book. Contents How I Invest My Money consists of an introduction, 24 chapters, and a conclusion. Each chapter corresponds to a…

100 Baggers: Stocks that Return 100-to-1 and How to Find Them – Christopher Mayer
Non-fiction / 21st July 2021

Introduction 100 Baggers is a book about how to find stocks that will give us 100-to-1 returns. This book wants to teach the readers how such returns happened and what investors need to do to find them. I was attracted by the title and also want to see what are the common themes among the 100 baggers in the book. Author Christopher Mayer is an author, newsletter writer, and investor. He is the portfolio manager and co-founder of Woodlock House Family Capital. Prior to that, he worked with Bonner & Partners and the Bonner family office. He was the editor of Capital & Crisis, published by Agora Financial from 2004-2015. He was a corporate banker from 1994-2004. Content 100 Baggers has 15 chapters and an appendix. The 15 chapters are 1) Introducing 100-Baggers, 2) Anybody Can Do This: True Stories, 3) The Coffee-Can Portfolio, 4) 4 Studies of 100-Baggers, 5) The 100-Baggers of the Last 50 Years, 6)The Key to 100-Baggers, 7) Owner-Operators: Skin in the Game, 8) The Outsiders: The Best CEOs, 9) Secrets of an 18,000-Bagger, 10) Kelly’s Heroes: Bet Big, 11) Stock Buybacks: Accelerate Returns, 12) Keep Competitors Out, 13) Miscellaneous Mentation on 100-Baggers, 14) In Case…