Book Club Friday's (#29) - Invested
Invested is an easy-to-read book that introduces a beginner investor into the Benjamin Graham style investing that was taken further by Warren Buffett and Charlie Munger of Berkshire Hathaway. This style of investing is known as Value investing as a broad term, but the tools and tricks in the book are of a sub-branch of value investing called Rule #1 investing created by Phil Town, the author's dad.
I first heard about them by listening to their popular podcast a few years ago and reading Phil Town's other books. This book is a little more beginner friendly - keep that in mind!
About the authors
Danielle Town
A corporate startup attorney, Danielle Town earned her law degree from New York University and holds degrees from Wellesley, Oxford, and the University of Colorado.
Phil Town
Phil Town is a motivational speaker, investor, and the author of the number one New York Times bestsellers Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week! and Payback Time: Making Big Money Is the Best Revenge!
Both Danielle and Phil host a podcast called: InvestED: The Rule #1 Podcast which is how I first heard about them a few years ago.
A little bit about the book
Invested is a great book for anybody worried about their financial future. Anybody conscious enough to realise that one source of income is not enough. Anybody curious enough to learn about a new concept, something that at first appears so alien but is in fact very simple... This thing is of course investing.
The book is a fantastic read for any beginner investor because it is written in a first-person, a chatty stylistic manner by Danielle who quite literally takes you through her personal thoughts, feelings and emotions throughout the year of learning about the investing. She loves celebrity gossip and writes the book as if in a gossiping way by conveying her own thoughts and downfalls which is very unique. Also, the book is split up into 12 sections used to resemble months. I think this is to convey the point that it takes dedication to become a good investor, but it doesn't have to be a chore, it can be made fun and the learning process can be delved into over a year or two.
Danielle has no interest in investing at first but then comes to see how incredible it actually is, the way society works, the look at human psychology and the markets are truly fascinating. This is definitely an opinion that I share. She is being mentored by her Dad throughout the book who is an established investor and has been for many years.
In essence, the book is fantastic for clearing the air about investing, and how it should be done correctly to negate as much speculation as possible. It isn't advanced and is a very easy read, which I think serves its purpose.
Although investing has been my passion for just over 3 years now, I still took a lot away from this book. Useful things such as the Wilshere Index or the Shiller P/E ratio indicating whether we may be about the face a market correction or not.
Therefore, whether or not you are an established Value investor, or you are just starting out I believe this book is a fantastic read to get some insight into how to improve or simply begin your investing journey.
Definitely, recommend! Not just because I love investing ;)