Book Reviews
Reading a book is a true investment. You need to be sure the time and energy costs are worth the knowledge and entertainment return you receive. However, typical book reviews often don't give readers what they need: a trustworthy appraisal of the real costs and benefits of a book they’re interested in.
Our podcast, The Well Read Investor, lives by the mantra: “May all your reading profit your mind and your money.” The idea is to bring meaningful conversations to investors about authors with thought-provoking ideas to enrich our investing knowledge and global awareness.
But with all the reading we do, there are far more books and ideas worth discussing than the podcast can cover. So Mike offers reviews of these books using our own the price-to-literacy (P/L) ratio, looking at all the key points a reader needs to know about when deciding if a book is worth investing their time.
The Theory of the Leisure Class
An economics classic still bears relevance, even if it doesn’t offer much practicality for investors.The Three Languages of Politics: Talking Across the Political Divides
A book about political ideology reveals much about investors’ minds, too.
The Code of Capital: How the Law Creates Wealth and Inequality
This well-argued book offers insight for investors who haven’t studied much law, but note that the costs of reading this one are about equal to its benefits.
The Psychology of Money
Morgan Housel has written a very good book about investing. It's not really a psychology book per se, it's more like a wisdom book for the average investor.What Is The Price-to-Literacy Ratio?
We developed the price-to-literacy (P/L) ratio: all an investor needs to know if a book is right to read. Here’s how it works.About the Host
As Senior Vice President of Research at Fisher Investments and a member of Fisher Investments’ Investment Policy Committee (IPC), I spend a lot of time studying the financial services industry and investor psychology...
I specialize in behavioral finance, macroeconomic analysis and niche investing strategies, such as environmental social and governance (ESG). Since joining Fisher Investments in 2002, I have worked in many capacities—editor, writer and analyst—primarily within the firm’s Research Department. I read constantly and review books to provide analysis and feedback on what I liked, didn’t like or found interesting. In my podcast The Literate Investor, I interview famous authors—such as Professor Meir Statman or economist Dr. W. Brian Arthur—to discuss their books and how they might pertain to everyday investors. I have written six books of my own, including 20/20 Money: See the Markets Clearly, Gain Focus and Invest Better Than the Pros.
Prior to joining Fisher Investments, I worked at Bear, Stearns & Co. Inc. as a Corporate Finance Analyst in the Global Technology Group. I’ve also served as a lecturer at the Haas School of Business at the University of California, Berkeley on various investment management topics. I hold an undergraduate degree in Economics from Claremont McKenna College and a doctorate degree from Pacifica Graduate Institute in Mythological Studies with an emphasis in Depth Field Psychology.