The Joys of Compounding : : The Passionate Pursuit of Lifelong Learning, Revised and Updated / / Gautam Baid.

• Superior document: Title is part of eBook package: De Gruyter Columbia University Press Complete eBook-Package 2020
• VerfasserIn: Baid, Gautam,
• MitwirkendeR: KiplinG, Rudyard,; Weatherford, David L.,
• Place / Publishing House: New York, NY : : Columbia University Press, , [2020]; ©2020
• Year of Publication: 2020
• Language: English
• Series: Heilbrunn Center for Graham & Dodd Investing Series
• Physical Description: 1 online resource :; 50 figures

Value investing is not just a system for success in the market. It is also an intellectual toolkit for achieving a deeper understanding of the world. In The Joys of Compounding, the value investor Gautam Baid builds a holistic approach to value investing and philosophy from his wide-ranging reading, combining practical approaches, self-cultivation, and business wisdom.Distilling investment and life lessons into a comprehensive guide, Baid integrates the strategies and wisdom of preeminent figures whose teachings have stood the test of time. Drawing on the work of investing greats like Warren Buffett, Charlie Munger, and Ben Graham, as well as philosophers and scholars, he artfully interweaves the lessons learned from his many teachers. Baid demonstrates their practical applications in the areas of business, investing, and decision making and also shows that these ideas can be applied to one's own life with just as much reward.A celebration of the value investing discipline, this book also recounts Baid's personal experiences, testifying to his belief that the best investment you can make is an investment in yourself. The Joys of Compounding offers curated reflections on life and learning for all investors, investment enthusiasts, and readers seeking a dose of practical wisdom.This revised and updated edition highlights Baid's distinctive voice.

Table of Contents

Frontmatter -- CONTENTS -- FOREWORD -- CHAPTER 1. INTRODUCTION: THE BEST INVESTMENT YOU CAN MAKE IS AN INVESTMENT IN YOURSELF -- SECTION I. ACHIEVING WORLDLY WISDOM -- CHAPTER 2. BECOMING A LEARNING MACHINE -- CHAPTER 3. OBTAINING WORLDLY WISDOM THROUGH A LATTICEWORK OF MENTAL MODELS -- CHAPTER 4. HARNESSING THE POWER OF PASSION AND FOCUS THROUGH DELIBERATE PRACTICE -- SECTION II. BUILDING STRONG CHARACTER -- CHAPTER 5. THE IMPORTANCE OF CHOOSING THE RIGHT ROLE MODELS, TEACHERS, AND ASSOCIATES IN LIFE -- CHAPTER 6. HUMILITY IS THE GATEWAY TO ATTAINING WISDOM -- CHAPTER 7. THE VIRTUES OF PHILANTHROPY AND GOOD KARMA -- CHAPTER 8. SIMPLICITY IS THE ULTIMATE SOPHISTICATION -- CHAPTER 9. ACHIEVING FINANCIAL INDEPENDENCE -- CHAPTER 10. LIVING LIFE ACCORDING TO THE INNER SCORECARD -- CHAPTER 11. THE KEY TO SUCCESS IN LIFE IS DELAYED GRATIFICATION -- SECTION III. COMMON STOCK INVESTING -- CHAPTER 12. BUILDING EARNING POWER THROUGH A BUSINESS OWNERSHIP MIND-SET -- CHAPTER 13. INVESTING BETWEEN THE LINES -- CHAPTER 14. THE SIGNIFICANT ROLE OF CHECKLISTS IN DECISION-MAKING -- CHAPTER 15. JOURNALING IS A POWERFUL TOOL FOR SELF-REFLECTION -- CHAPTER 16. NEVER UNDERESTIMATE THE POWER OF INCENTIVES -- CHAPTER 17. ALWAYS THINK ABOUT THE MATH, BUT AVOID PHYSICS ENVY -- CHAPTER 18. INTELLIGENT INVESTING IS ALL ABOUT UNDERSTANDING INTRINSIC VALUE -- CHAPTER 19. THE THREE MOST IMPORTANT WORDS IN INVESTING -- CHAPTER 20. INVESTING IN COMMODITY AND CYCLICAL STOCKS IS ALL ABOUT THE CAPITAL CYCLE -- CHAPTER 21. WITHIN SPECIAL SITUATIONS, CAREFULLY STUDY SPINOFFS -- SECTION IV. PORTFOLIO MANAGEMENT -- CHAPTER 22. THE HOLY GRAIL OF LONG-TERM VALUE INVESTING -- CHAPTER 23. THE MARKET IS EFFICIENT MOST, BUT NOT ALL, OF THE TIME -- CHAPTER 24. THE DYNAMIC ART OF PORTFOLIO MANAGEMENT AND INDIVIDUAL POSITION SIZING -- CHAPTER 25. TO FINISH FIRST, YOU MUST FIRST FINISH -- SECTION V. DECISION-MAKING -- CHAPTER 26. READ MORE HISTORY AND FEWER FORECASTS -- CHAPTER 27. UPDATING OUR BELIEFS IN LIGHT OF NEW EVIDENCE -- CHAPTER 28. LIFE IS A SERIES OF OPPORTUNITY COSTS -- CHAPTER 29. PATTERN RECOGNITION -- CHAPTER 30. ACKNOWLEDGING THE ROLE OF LUCK, CHANCE, SERENDIPITY, AND RANDOMNESS -- CHAPTER 31. THE EDUCATION OF A VALUE INVESTOR -- CONCLUSION: UNDERSTANDING THE TRUE ESSENCE OF COMPOUNDING -- APPENDIX A. SLOW DANCE -- APPENDIX B. IF- -- ACKNOWLEDGMENTS -- NOTES -- BIBLIOGRAPHY -- INDEX