Disciplined Reading

[via Yuvaraj] Chetan Parikh writes:

Reading is definitely my thing, too, and I think you have to read not just business stuff but also history, novels, and even some poetry. Investing is about glimpsing, however dimly, the ebb and flow of human events. It’s very much about breasting the tides of emotion, too, which is where the novels and poetry come in. Besides, sometimes you have to refresh your mind and soul by consuming some crafted, eloquent writing. When I get home at the end of a business day, after being absorbed in investment babble and dull, plodding writing, replete with trite phrases such as make no mistake, which is my pet peeve, I am stuffed with babble. My gorge rises at the thought of more business carbohydrates. So I sit down with a nice big glass of wine and immerse myself in something I want to read. I always have at least one book going, and my taste is eclectic, but the sine qua non is that it has to be well written.

I am a visile. A visile primarily absorbs information through the eyes by reading. An audile ingests information mostly through the ears, through talking and social interaction. Charlie Munger, too, is a visile. Of course, we all do some of both, but I share Munger’s skepticism that someone who doesn’t read much can be a really successful investor. I do know a number of people who are very successful traders and speculators who don’t read anything but the sports page.

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Rajesh Jain

An Entrepreneur based in Mumbai, India.