Reading the super texts i.e., words written by legendary thinkers, investor and philosophers is something that one can never get enough of. These texts are so deep and pack such a concentrated dose of wisdom that the only way to benefit from them is to read them again and again. It’s like a giant onion with densely squeezed layers. When you’ve peeled one layer, then and only then, the juicier layer makes itself available.
Seth Klarman is one such super investor and his book Margin of Safety is that super text which needs to be read every year (at least). And every time I read it, I discover a fresh insight and wonder how I missed it during my last read. It happens because once I get a grip on one idea, it increases (slightly) my mind’s ability to receive another idea. And bit by bit, over a period, brain muscles become stronger to imbibe the deeper wisdom.
I would go as far as saying this – if an investor hasn’t read a super text multiple times, he’s as uninformed as the guy who hasn’t read it at all. Warren Buffett’s letters, Benjamin Graham’s The Intelligent Investor, Poor Charlie’s Almanack are some super texts that demand revision multiple times.
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