I read Clash of the Cultures: Investment vs. Speculation by Vanguard founder John Bogle.
It's a wonderful book outlining what true investing is, and what's wrong with the investment profession. Here are six things I learned.
1. Almost everything going on in markets is not investing:
2. Investing is more about psychology than math:
3. Institutions are taking over from individuals:
4. Most of what you see is noise:
5. People try to forecast noise:
6. This goes beyond markets. A lot of what happens in the economy isn't creating real value:
Go buy the book here. It's great.
- What I learned fromAntifragile
- What I learned fromThinking Fast and Slow
- What I learned from Risk Savvy
The article 6 Things I Learned From the Book "Clash of the Cultures" originally appeared on Fool.com.
Contact Morgan Housel at firstname.lastname@example.org. The Motley Fool has a disclosure policy.
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