Get a little bit smarter, more informed and historically aware every day.
Just a little.
And watch that compound! It’s miraculous. You’ll look back in a few years and wonder how you even functioned before you had accumulated all the additional knowledge. And even then you’ll accumulate more. And the things you learn will connect with things you’ve already learned and before you know it there will be a vast network of neurons firing in your mind, a fireworks display illuminating what for others still lies in darkness.
Ben has a list up with his favorite books on the history of financial markets. It’s a good one, lots of titles I’ve been meaning to get to for years.
If you’re a student of the markets or even a long-time veteran looking for more perspective, this is a great place to find stuff to read. The books I think he missed are The Worldly Philosophers, Business Adventures and Boy Plunger. But even still this is solid:
Phil Huber, a friend and colleague of mine from the RIA world, has a really good blog you should check out called bps and pieces (get it?). Anyway, Phil made a list of the people whose market and investment commentary he drops everything to read whenever it comes out.
I mostly agree with this list. These are some of the best contemporary writers and thinkers on the business of investing you will find. I would say he’s missing Jeff Gundlach’s presentations and Nick Murray’s monthly advisor letter, but he was going for top ten, so…
Read history, read current events, consume the opinions and views of wise and experienced people. Turn these ideas over in your head and decide what you agree with and what you’re simply not prepared to render a strong opinion about. Fall asleep with a book on your chest. Share the best parts with a group of likeminded friends.
Repeat, compound, build, explore, change your goddamn mind! This is what we’re here for.