Book Summary: David and Goliath by Malcolm Gladwell

Hardcover: 320 pages
Language: English

ISBN-10: 0316204366
ISBN-13: 978-0316204361

Malcolm Gladwell, in his book ‘David and Goliath’ covers the story of unlikely success. Instead of the cliche of how persistence and hard work pays, he analyzes the stories in depth and brings about how the underdogs chose a different path to win the game and how this learning can be used by us all.

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The four pillars of occupations

Hindu religion and several other cultures talk about the concept of trinity. In the trinity principles, three types of activities are spoken about. There is a creator who creates and a destructor who destroys. In the middle sits the concept of security, the one who protects. As with anything in Hinduism, these principles are deified. They are Brahma (creation), Vishnu (protection) and Shiva (destruction). Our occupations today can be classified into these three categories. Along with them, I would also like to add another category to make it a quartet, i.e. maintenance. I call these the four pillars of occupations. Continue reading The four pillars of occupations

Book Summary: One upon Wall Street by Peter Lynch

One_upon_wallstreet_PeterLynch

ISBN-10: 0743200403
ISBN-13: 978-0743200400

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Peter Lynch, one of the greatest investors of our time has given ample time tested techniques in this book.

How retail investors can win in the stock market

-> Take advantage of what you already know. i.e invest in familiar sectors.
-> Invest in a house before you invest in a stock market
-> Ignore short term fluctations
-> Predicting economy or stock market direction is futile
-> 6/10 wins is a stellar record

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Book Summary: How to Avoid Loss and Earn Consistently in the Stock Market by Prasanjit Paul

How to Avoid Loss and Earn Consistently in Stock Market

ISBN: 9352679717 PaperBack
ASIN: B076MKJV6Y Kindle

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Who is the book for: The book is meant for retail investors with a long term investment horizon.

What retail investors must avoid to avoid losing money?

(1) Following the stock tips provided by brokers blindly. Brokers have vested interests in increasing volume of your trade and not your profits.

(2) Intraday Trading : Its a high speed game which hardly anyone has mastered. Its no wonder we don’t have any stock market millionaires/billionaires who have become rich solely due to intra day trading.

(3) Investing on Borrowed Money: Although stock market is one of the greatest wealth generators it comes with no guarantees or timelines. Pressure of borrowed money and to make higher returns than the cost of funds can cause the investors to take many high risk bets leading to loss of capital.

(4) F&O trading: High margin trading without understanding its risk can cause capital to be wiped out in no time.

The time tested strategy to create wealth in the stock market is to:

“Invest in high quality business(stocks) and hold it for the long run.”

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Book summary: Ready, fire, aim by Michael Masterson

Book title: Ready, fire, aim
Author: Michael Masterson (aka Mark Ford)
ISBN-10: 0470182024
ISBN-13: 978-0470182024
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What this book is about

Ready, fire, aim is not a typo. It is a deliberate word play on the common phrase Ready, aim, fire. Written by Michael Masterson, this book describes the process of building a company right from the startup phase to an enterprise that earns millions of dollars. The title suggests that we should always start before we are fully ready to launch something and that we should never obsess to the point of perfection. By launching before the product is perfect, we are letting the market decide how to improve it rather than falling into the trap of hubris, where we falsely believe that we fully know the market.

In the book, Michael breaks down the lifetime of a company into five stages. The sections of the book focus on what to do and where you should focus during those five stages. Continue reading Book summary: Ready, fire, aim by Michael Masterson

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Book summary: Rich dad’s guide to investing by Robert Kiyosaki

Book title: Rich dad’s guide to investing
Author: Robert Kiyosaki
ISBN-10: 1612680216
ISBN-13: 978-1612680217
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What this book is about

Robert Kiyosaki, the author of the famous book, “Rich dad, poor dad”, has written a book named “Guide to investing”, which helps you build the right attitude to help you become rich. The book starts with a young Robert going to meet his mentor, whom he calls ‘rich dad’, and rich dad’s son. They are talking about investing in a very lucrative opportunity. While Robert asks to join in, the two politely respond to him that he couldn’t do it, since the opportunity was legally only for the ‘officially rich’, i.e. a networth of $1,000,000 and above. Stung by the incident, Robert consults his one and only guide on how to grow rich – his rich dad. The book is a culmination of what rich dad taught Robert about getting rich. Continue reading Book summary: Rich dad’s guide to investing by Robert Kiyosaki

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Why reading is a unique experience

At Amritsar, the Golden Temple looks magnificent inside a sparkling lake. The Harmandir Sahib Gurdwara is the most sacred place for the practitioners of Sikhism. Under its golden dome, in the centre of the sanctum sanctorum, lies an artefact that the Sikhs consider their Supreme Being. It is called the Guru Granth. It is a book. It is considered the ultimate Teacher to the Sikhs, prescribing how a Sikh should lead a life of honesty, respect and dignity. For the Sikhs, the Guru Granth is not just a book, it is a living being with a soul.

While other religions do not directly worship a book, they too revere books which teach them the way of life. Christianity swears by the Bible and Muslims look upto the Quran. Hindus do not hold any one book as their chief scripture. While modern Hinduism heaps a lot of praise on the Bhagawat Geeta, there are plenty more such as the Upanishad and the Vedas.

I am agnostic with no belief in religion. However I cannot help praising the fact that every religion revers the ‘written word’. Every religion I am aware of respects the experience of the people bygone and recommends that we read their ‘written word’ and try to make our life better by using that repository of knowledge. It is also what our parents told us during our childhood and what all successful people keep saying time after time. Let me make it short and sweet. “Read Books”! Continue reading Why reading is a unique experience

21 days of ‘No Junk Food’ Challenge

It is said ‘We are what we Eat’. So with the intention of correcting some deep rooted food habits and to examine the possibility of eating healthy on a consistent basis with less or no junk food, I recently went on a ‘No Junk Food’ Challenge for 21 days.

Junk Food:

The definition of ‘Junk Food’ in this case included :

1)No Carbonated Drinks
2)No Ice cream
3)No Chocolates
4)No Deep fried foods
5)No processed cheese
6)No desserts with refined sugar/processed flour

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How to eat an elephant!!

There is a very popular book by Bill Hogan named, ‘How Do You Eat an Elephant? One Bite at a Time!‘. While the idea of eating an elephant sounds very weird, the metaphor is spot on. The very idea of eating an elephant can overwhelm all our senses at once. However, instead of thinking about how we will ever finish a giant pachyderm in our lifetime, we will inch closer to success, just by thinking about how to eat the next bite. This applies to all our lofty challenges that we set for ourselves. Climbing the Everest, running an ultra-marathon, generating 7 figures of revenue in your business, speaking in front of an audience of 1000, you name it. The common thing about all these goals is that the moment we think about starting on it right now, it is way too overwhelming even just to think about it. So, how do we eat an elephant? Continue reading How to eat an elephant!!