Skip to main content


Showing posts with the label Bookclub

Bookclub #001: Why Investing is a Liberal Art

When we think of investment, we often attach accounting, economics and finance as key subject areas to the profession. But investment is more than that. It can't be boxed into some specific subject areas. Act of investing is more of a personalized craft for each investor than anything else. To be good at this craft requires a clear understanding of how the world works. We can only develop a good understanding of the world and its inhabitants if we explore different knowledge areas. Exploring is only the half act. Making connections between different knowledge areas is the other half. Such practice helps us create mental models that deliver insights we wouldn't find otherwise. The phrase "Latticework of Mental Models" comes from Charlie Munger, a veteran investor and the vice chairman of Berkshire Hathaway. He terms stock picking as a subdivision of the art of worldly wisdom. He said,  "Each discipline entwines with, and in the process strengthens, every other.