Books

Have you read Adam Smith? I don't know anyone who really has. Most just lie about it. "Yeah, I read The Wealth of Nations, well, kind of." Many are familiar with comparative advantage, the pin factory (the values of the specialization of labor), and the invisible hand--all of which are important principles. The rest of the book, however, is terribly boring and difficult to read. I've tried reading it at least three times.

This all has a point. Anyone serious about the pursuit of a lifelong personal education is constantly reading and learning. And there are several ways to maximize reading output: learn to read faster; skim more; spend much more time doing it; find a way to live without sleep; and, the method I prefer: always read and learn new things but don't obsess about it. It should be natural.

That said, below is an attempt to list categories of books. This should make it easier to decide what is really worth reading.

1) wikipedia knowledge (e.g., Seven Habits--if you care)
2) historically significant well-written books
3) books to avoid (self-help books and most popular business books)
4) books for information and/or vocation
5) pleasure reading
6) other (haven't figured out what this is yet)

Be selective about what you read. But be balanced. You'll become a better investor. And don't worry if you've never read Adam Smith, most honest people have not.


Image: http://www.library.hbs.edu/hc/collections/kress/kress_img/adam_smith2.jpg