Latticework: The New Investing
What Is It About?
The book is about developing a process (as advocated by Charlie Munger) for investing that does not solely rely on financial information. As the author indicates in the preface, this is not a how-to book. Instead this book is about using core concepts from different disciplines (physics, economics, psychology, etc.) to evaluate a company. Simply put, the book advocates that successful investing is a result of practical thought using several disciplines of study.
What Did I Get Out Of It As A New Investor?
The book is short (under 200 pages) and reads fast. The best feature of the book is the reading list provided at the end of the book. The book covers the topic and investigates the various areas of study in quick fashion without being superficial, but leaving the reader with a desire to learn more. The reading list provided allows one to efficiently conduct a deeper investigation of the material presented.
The Good News
The book is short and to the point. As stated, for those who wish to investigate further, the provided reading list saves the time needed to compile such a list.
The Bad News
Those looking to be told what to buy and sell should look elsewhere. Similar to other books which encourage thinking, this one lacks any concrete “how-to” examples.
The Bottom Line
I found value in this book two ways. It gives the reader a table of contents showing the different areas of study and provides a comprehensive list of materials in each area that the reader should investigate. I would recommend you check it out from the library
Other Related Reading:
Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger