Constant consumption of information is very important as it can help you with overcome current challenges, learn of new ideas and expand one’s general knowledge of a subject. After all, the brain is a muscle that requires constant stimulation, like any other muscle, in order to be strong and focused. Below are some of the books that I read in Q1 of 2020.
The winning investment habits of Warren Buffet and George Soros. This book was very informative when it comes to investing and trading strategies, especially in view of what is going on currently. One important aspect that is covered thoroughly in the book is the importance of one’s psychology when investing in the markets. Explains why, if not managed, can lead to unnecessary risk taking that can cause one to lose more money than one gains. It encapsulates everything into 23 winning investment habits, for example how preservation of capital is always #1 importance and why each person should develop their own trading system based on one’s own personality with well-defined entry and exit rules. One other key point was only investing in things that you understand. For example, if you use Microsoft technologies for work and personal use, you would probably understand the company and where it is going well enough to understand if it is a good investment or not. This prevents a person from investing in something simply because the ‘news’ says to do so, which rarely works out in the long run.
Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future. This book was an excellent look into the life of Elon Musk. It gives a in depth view of what it took for him to get to where he is, being able to absorb failure and loss but come back stronger and better in the long run. His views on technology is also highlighted in the book, where he is driven by the desire to use technology to be useful to create a better future, not just invest in random things that creates wealth. It was also interesting to read about many of his early failures and problems that he encountered when creating Spacex and Tesla, proof that if you stick with a good idea long enough and adapt to the requirements of those ideas, things will work out.
Master Your Mind, Design Your Destiny. This book was very interesting as it teaches how to change your life to what you would want it to be. It contains exercises all throughout the book (you should write them down and follow them) that help you plan out what you want to do. The author bases the book on NLP (neuro linguistic programing) and explains methods to implement that in your life. Not only that, but he presents real life examples throughout the book that further drive the point home.
Since I read about 4 – 5 books a month, one strategy that I use is at the start of the new year, I create a spreadsheet of all the books that I want to read and a rough start date. Since, by nature, I love to read, I am always adding new books to the list over the year and shuffling the order around based on what is interesting to me. On this spreadsheet, I also put a category for the type of book it is and why I would be interested in reading it. Once completed, I update the spreadsheet to keep track of what I have been reading. When adding to the list, I like to choose things that are aligned with current goals so that I can increase my focus on them as well as increase my knowledge base.