On Markets & Investing

What I have been reading: Making decisions in the uncertain world

Knowledge compounds over time, even if sometimes you feel that you are not getting anywhere. I try to read as much as I can and add the most insightful pieces to the Library, which you can access for free.

In today’s post, I have summarised seven exciting articles and speeches. Four of them discuss the attributes of great investors, including dealing with uncertainty and updating your views as new information becomes available. Two other materials are past investment letters by Michael Burry and Seth Klarman. I have also included a study by Ed Yardeni on what an inverted yield curve means for the economy and markets since this subject has been so widely discussed recently.

  • "Lynch Law" by Nick Train. A short essay by a co-founder of Lindsell Train, a UK-based value investing firm, based on the notes from Peter Lynch’s speech on the core investment principles.

  • “You and Your Research” by Ricahard Hamming. Transcript of the speech by Richard Hamming, a former Bell scientist, on how to conduct research process that leads to big discoveries. Focused on scientific research, there is something to learn for professionals from other fields, including equity research.

Happy reading!