BR 188: The Only Investment Guide You’ll Ever Need by Andrew Tobias

only investment guide, andrew tobias

Category: 2 – BUY it! (All Categories are 1 – Read ASAP!, 2 – BUY it!, 3 – SHELF it, 4 – SOMEDAY it)

Comments: The Only Investment Guide You’ll Ever Need was a recommendation on Seth’s blog. I picked it up at a time when I needed a bit of a refresh on all things investments since I’d taken all money off indexes to pay for graduate school. It was nice to “get back” with this book and, as with all Seth recommendations, this didn’t disappoint. It definitely lives up to its name as the “only” investment guide you’ll ever need. It is witty, smart and worth following.

If this topic interests you, do check out a learnographic I co-created here.

Top 3 Learnings:

1. A penny saved is a lot more valuable than a penny earned. The quote from Benjamin Franklin was from a time when there were no taxes. Now that we live with taxes, it actually takes a lot more than a penny earned to save a penny. So, spend less than you earn, save and watch it grow. This is a lesson that has stuck with me since the book.

2. When there are too many borrowers, governments raise interest rates. This means bond prices fall. When there are less borrowers, bond prices go up. High interest rates tend to affect stocks since they discourage people from investing in risky stocks. They also affect business’ cost of borrowing.

3. Keep short term money somewhere safe and convenient. Then, invest long term money in stock indexes where you must buy low, buy low, buy low. This is opposite what everyone else does. A simple vanguard index will outperform everything else in the long run.

I would still recommend reading 2-3 investment guides before you zero in on your investing strategy. That is not because the advice in the only investment guide is any different. However, if you haven’t been exposed to this world before, it is reassuring to see the same principles at work everywhere.

Book notes here.

BR 187: The Expectant Father by Armin Brott and Jennifer Ash

expectant father, armin brott, jennifer ash

Category: 2 – BUY it! (All Categories are 1 – Read ASAP!, 2 – BUY it!, 3 – SHELF it, 4 – SOMEDAY it)

Comments: If you are enroute to becoming a dad, I would highly recommend this book. It strikes the balance between man-language and science very nicely and strikes a really good tone. The first parts are all about understanding what your partner is going through during pregnancy. The second half brings a lot of checklists – while I haven’t tested them out yet, I found them useful. I also think the understanding of all the medical procedures involved puts you more at ease when you visit the doctor as an expectant father.

Top 3 Learnings:

1. The expectant father’s most important role is being of help to the expectant mother. As the month’s progress, your partner’s discomfort will increase with time. Do your best to make sure she eats healthy, exercises and feels supported.

2. Understand all the procedures and tests so you can help her make decisions. At the end of the day, the decisions will be led by your partner until delivery. Know what they all entail, provide good counsel and be supportive.

3. Plan for the birth and time after birth. You will need to plan financially (leave some extra buffer) and also have a home, furniture, etc., that will be ready for the baby. Refer the book’s checklists when that happens.

Book notes here.

BR 186: The Third Wave by Steve Case

the third wave, steve case

Category: 3 – SHELF it (All Categories are 1 – Read ASAP!, 2 – BUY it!, 3 – SHELF it, 4 – SOMEDAY it)

Comments: This book read as part autobiography, part technology book, part political change manifesto. It was an interesting read until a point after which I felt it got a bit repetitive. I definitely agreed with his thesis that working with the government will become critical for the next generation/”third wave” of entrepreneurs. I also enjoyed Steve Case talking about his time at AOL as this was a part of internet history I didn’t experience.

Top 3 Learnings:

1. The first wave was the start of the internet. The second was the social wave and was about communication and social media. The third wave will be the internet of everything.

2. As entrepreneurs attempt to disrupt large industries, they will need to partner more with incumbents and the governments. It will not be possible to disrupt industries like infrastructure and energy from the outside like in the second wave. Regulatory nous will be key as there will be plenty of government interaction in the third wave.

3. Entrepreneurs often slam the government as holding them back. However, the internet wouldn’t exist if it wasn’t for government programs. Build bridges instead of burning them.

BR 185: The Jobs To Be Done Handbook by Bob Moesta and Chris Spiek

Jobs to be done, handbook, bob moesta, jtbd

Category: 3 – SHELF it (All Categories are 1 – Read ASAP!, 2 – BUY it!, 3 – SHELF it, 4 – SOMEDAY it)

Comments: Practical how-to guide on conducting “jobs to be done” interviews. I had attended a Bob Moesta presentation in person once and this book just felt like the extended version of that. Lots of tips and tricks.

Top 3 Learnings:

1. With jobs to be done, it is all about finding the “why” behind customer decisions and then figuring out ways to meet the unmet need

2. To hire a product, you must fire another product. Every customer has only so much space in their lives to use products. So, if you are trying to get them to change behavior, they will need to let go of a product that isn’t doing the job so well.

3. Good jobs to be done interviewing does not connect the dots for the interviewee. Be ignorant, make no assumptions and keep asking them questions. Again, in the live presentation, Bob Moesta conducted a demo interviewed and showcased this beautifully – that will stay with me. 🙂

Book notes here.