Wednesday, April 4, 2012

Cundill's Picks

I recently read There's Always Something To Do, which describes the investment approach of the late Peter Cundill. Cundill was a Ben Graham-like value investor (with a few modifications) who generated returns in his fund of 15+% per year for 33 years.

Cundill wrote that "there are a few books - really not that many - which I believe are indispensable reading for every serious investor...". The list is as follows:

3 comments:

  1. AnonymousApril 4, 2012 at 3:55 PM

    Thanks for the list and for very insightful short posts every day.

    Naturally, I've read some of the books. Did you read any of the below ones and if yes; do you recommend them?

    *Extraordinary Popular Delusions and the Madness of Crowds by Mackay
    *The Crowd: A Study of the Popular Mind by Le Bon
    *The Templeton Touch by Proctor
    *The Alchemy of Finance by Soros

    /dgforvalue

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  2. Saj KarsanApril 5, 2012 at 3:54 AM

    Only the Soros book. It was a tough read. If I recall, the main takeaway was the theory of reflexivity, which I think you can read about without having to read the whole thing.

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  3. MorganApril 5, 2012 at 11:38 PM

    I have read the MacKay, Le Bon and Soros books. All were very good.

    If you like the MacKay and Le Bon books, I suggest you read Kindleberger's Economic Primacy: 1500-1990. It's a long economic history book, but you can see the madness of the crowd in those pages, quite interesting. Plus you'll learn a lot of history.

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