July 6, 2024
Summer is here.
This is a season that beckons with visions of relaxation, sun, chilling and free time but for successful professionals - like you - unwinding often comes with a thirst for knowledge or inspiration. Ditch the typical beach read and delve into a book that will invigorate your mind - whether you're an investor, entrepreneur, student or manager.
We explore here a curated selection of books designed to spark fresh ideas and fuel your professional fire, all while offering that satisfying escape.
Summer reading list for investors
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Reading great investing books can be useful to cement your day-to-day investing practice (if you are a pro) or to quickly absorb key tips and tricks if you are a beginner:
1. Learn from the masters: some solid books offer insights from seasoned investors who have navigated various market conditions. By understanding their thought processes, risk management techniques, and investment philosophies, you can glean valuable lessons that can be applied to your own portfolio management.
2. Gain confidence through historical context: Investing books often delve into historical market cycles. Understanding how different asset classes have performed throughout history can provide valuable context for current market trends and bolster your confidence in your investment decisions, especially during periods of volatility.
3. Discover new investment opportunities: Great investing books can introduce you to new asset classes, industries, or investment vehicles you might not have considered before. This can open doors to potential diversification and growth opportunities within your portfolio.
Here's the list:
=> "Cashing Out: Win the Wealth Game by Walking Away" by Julien and Kiersten Saunders: for members of the FIRE movement willing to find new ways to generate passive income and retire early (we talked about it here)
=> "Broke Millennial Takes on Investing" by Erin Lowry: this is Lowry's second book in her "Broke Millennial" series, where she debunks common myths about investing, like that you need to be debt-free to get started. Lowry explains how to start investing even if you don't think you have enough money
=> "Clever Girl Finance: Learn How Investing Works, Grow Your Money" by Bola Sokunbi: this book is geared toward women and it explains why investing is important, how the stock market works, what different types of investments exist (we also share it here), common mistakes to avoid, and more.
=> "How I Invest My Money" by Joshua Brown and Brian Portnoy: this book is a good option if you already grasp the basics of investing. You will find the experiences of 25 financial experts about how they invest, build wealth, and make other financial decisions. They explain how and why they make their choices, from practical reasons (like strategy) to personal details (like family background). Reading 25 different perspectives can help you see that there's not necessarily one correct way to invest — everyone has different goals, and their investing strategies should reflect them. You may resonate with one or a few of these experts and apply their insights to your choices.
=> "Mastering the Market Cycle: Getting the Odds on Your Side" by Howard Marks: It's common for investors to put money into the stock market — but how do you know which stocks to buy, when to buy, or when to sell? Marks cannot give clear-cut answers to these questions, but he can help you make those decisions by providing an in-depth explanation of market cycles (on which we also like to focus on - more here). Numerous factors affect why a stock (or another asset) may rise or dip in value. By understanding how these cycles work, you can make informed investing decisions.
=> "How to Day Trade for a Living" by Andrew Aziz: for day-to-day traders. Hey, day trading is a very risky investment strategy that we don't recommend to the vast majority people. You buy a stock or other asset, then sell it in the same day to maximize on any upward movements that occurred during the day. This is a serious day trading books to teach you the rope, if you are interested. Andrew Aziz - a big name in the day trading world will explain how day trading works, how to choose stocks, how to choose a day trading platform, and more.
Summer reading list for entrepreneurs
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Great entrepreneurship books can be incredibly useful alongside your day-to-day practice:
1. Learning from Experience (Without the Cost): Entrepreneurship is a journey filled with triumphs and challenges. Great entrepreneurship books offer a treasure trove of experience from successful founders. Reading about their mistakes and how they navigated them can save you from making the same errors yourself. It's like having a mentor who shares their hard-won wisdom, all within the pages of a book.
2. Fresh Perspectives and New Ideas: The day-to-day grind can make it easy to get stuck in a rut. Reading exposes you to different approaches, innovative strategies, and even entirely new industries. This can spark fresh ideas for your own business or challenge your current assumptions, leading to potential breakthroughs.
3. Boosting Confidence and Motivation: The entrepreneurial path can be lonely and filled with self-doubt. Reading about the struggles and eventual successes of other entrepreneurs can be incredibly inspiring. It shows you that the challenges you face are common, and that success is possible with perseverance and the right strategies.
4. A Safe Space to Experiment (Mentally): Great entrepreneurship books often present case studies and frameworks. Reading about them allows you to mentally experiment with these ideas without any real-world risk. This "what-if" scenario planning can help you develop a deeper understanding and refine your approach before implementing anything in your own business.
It is like having a constant source of mentorship, inspiration, and fresh ideas to fuel your entrepreneurial journey. Here's the list:
=> “The Lean Startup” by Eric Ries: the book introduces a methodology for developing businesses and products efficiently (and quickly).
=> “Zero to One” by Peter Thiel: Focuses on innovative thinking for starting a business (better if a monopoly).
=> “The Innovator’s Dilemma” by Clayton M. Christensen: Explores the challenges of managing innovation in established companies.
=> “The Hard Thing About Hard Things” by Ben Horowitz: Offers essential (emotional) advice on building and running a startup, written for CEOs.
=> “Rich Dad Poor Dad” by Robert T. Kiyosaki: Advocates the importance of financial literacy, financial independence, and building wealth through investing
=> “The Art of the Start” by Guy Kawasaki: Offers essential tips for starting any new enterprise: it is written in a very fluid, conversational and fun style.
=> “Crossing the Chasm” by Geoffrey A. Moore: Deals with the specifics of marketing high-tech products during the early start-up period.
=> “Outliers” by Malcolm Gladwell: Examines the factors that contribute to high levels of success
=> “Start with Why” by Simon Sinek: Explores how great leaders inspire everyone to take action.
Summer reading list for anyone else who's willing to invest her/his time well
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And what if you are not an investor or an entrepreneur? Well, we have tapped into the latest reading list from Bill Gates (founder, Microsoft) for you :
The Women, by Kristin Hannah - this terrific novel tells the story of a U.S. Army nurse who serves two tours on the frontlines in Vietnam before returning home to a country rocked by protest and anti-war sentiment. The author, Kristin Hannah, has written a beautifully written tribute to a group of veterans who deserve more appreciation for the incredible sacrifices they made.
Infectious Generosity, by Chris Anderson - Chris, who has been the curator of TED Talks for more than two decades, explores how the internet can amplify the impact of generosity. He offers a plan for how everyone can foster more generosity. It’s not just about giving money; he argues that we need to expand our definition of generosity. If you want to help create a more equitable world but don’t know where to start, Infectious Generosity is for you.
Slow Horses Gates is a sucker for stories about spies. He has read several of John le Carré’s novels, and two of his favorite movies are Spy Game and Three Days of the Condor. He'd put Slow Horses up there with the best of them. It’s a British series about undercover agents assigned to Slough House, a fictional group inside MI5 where people are sent when they mess up badly, but not quite badly enough to get fired. Gary Oldman plays the head of Slough House, who’s basically the polar opposite of James Bond. He’s a slob and an alcoholic, but then he surprises you with some amazing bit of spycraft.
Brave New Words, by Sal Khan - Sal - the founder of Khan Academy - has been a pioneer in the field of education technology since long before the rise of artificial intelligence. So the vision he lays out in Brave New Words for how AI will improve education is well grounded. Sal argues that AI will radically improve both outcomes for students and the experiences of teachers, and help make sure everyone has access to a world-class education. He’s well aware that innovation has had only a marginal impact in the classroom so far but makes a compelling case that AI will be different.
(source: https://www.gatesnotes.com/Summer-Books-2024)
Enjoy your time off and share with us your impressions about one of those books, if you have the chance to read it!
(hello@pantar.ai)
