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Investing: The Last Liberal Art

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( 1,165 ratings, 100 reviews)
Book Hero Magic crafted this summary to help describe this book. While it's new and still learning, it may not be perfect - your feedback is welcome! Summary
Investing: The Last Liberal Art by Robert Hagstrom explores the multidisciplinary approach to investing, drawing connections between finance and other intellectual fields such as psychology, biology, and physics. The book encourages investors to broaden their perspectives beyond traditional financial analysis, suggesting that embracing diverse disciplines can lead to more informed and successful investment decisions. It's a compelling read for those looking to see the bigger picture in the world of finance.
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Format: Hardback
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Book Hero Magic created this recommendation. While it's new and still learning, it may not be perfect - your feedback is welcome! IS THIS YOUR NEXT READ?

You might enjoy this book if you appreciate exploring the interdisciplinary connections between investing and other fields such as biology, psychology, and philosophy. The author delves into how concepts from various disciplines can enhance understanding and decision-making in the world of finance, providing a fresh perspective on investment strategies.

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How building a multidisciplinary mindset can help you become a better investor.

How building a multidisciplinary mindset can help you become a better investor.

Book Hero Magic formatted this description to make it easier to read. While it's new and still learning, it may not be perfect - your feedback is welcome! Description

Robert G. Hagstrom is one of the best-known authors of investment books for general audiences. Turning his extensive experience as a portfolio manager at Legg Mason Capital Management into valuable guidance for professionals and nonprofessionals alike, he is the author of six successful books on investment, including The Warren Buffett Way, a New York Times best-seller that has sold more than a million copies.

In this updated second edition of Investing: The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger's famous "latticework of mental models" concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone.

He reinforces his concepts with additional data and a new chapter on mathematics, and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book.

Praise for the first edition:

"I read this book in one sitting: I could not put it down." - Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk

"Elegant and irresistible. Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, Investing shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book." - James Surowiecki, New Yorker

"Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom's agile mind." - International Herald Tribune

Book Hero Magic summarised reviews for this book. While it's new and still learning, it may not be perfect - your feedback is welcome! HOW HAS THIS BEEN REVIEWED?

Investing: The Last Liberal Art by Robert Hagstrom is praised for its multidisciplinary approach to investing, offering readers a broad array of ideas from various fields. The book is described as an engaging read, blending insights from different disciplines to enhance understanding of financial markets. It is recommended for both investors and students of finance, providing fresh perspectives and valuable insights.

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Book Details

INFORMATION

ISBN: 9780231160100

Publisher: Columbia University Press

Format: Hardback

Date Published: 08 January 2013

Country: United States

Imprint: Columbia University Press

Edition: second edition

Audience: Professional and scholarly

DIMENSIONS

Width: 152.0mm

Height: 229.0mm

Weight: 250g

Pages: 216

About the Author

Robert G. Hagstrom is chief investment strategist at Legg Mason Investment Counsel and the author of the New York Times best-selling The Warren Buffet Way. He is also the author of The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy; The Essential Warren Buffett: Timeless Principles for the New Economy; NASCAR Way: The Business That Drives the Sport, and The Detective and the Investor: Uncovering Investment Techniques from the Legendary Sleuths.

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