Author Talks About The Book
1/ What is the message of the book?
The message is simple and straightforward.
With a few small changes you can successfully grow your wealth. You need to underspend to be able to save, and grow capital, and then with that capital you can become an investor, who owns a variety of wonderful, successful, growing businesses.
How do we do that? Through ownership of stocks, and stocks are nothing else but small pieces of businesses.
2/ What do you hope to accomplish with this book?
I hope to inspire many generations of future investors.
I think we are wired to fail with money, and most books are inadequate at job explaining money, and investing in a honest, complete, yet simple way.
My goal is to offer a solid foundation which I call philosophy - where I talk about the importance of thinking independently, being patient, and having a healthy tolerance for mistakes. I wanted to provider reader a path - through constant learning, and focus on what matters, while consistently saving and investing your money.
Lastly, in the chapter called principles - I introduce readers to the teachings of, who I believe to be the great value investors of our times by explaining that stocks are businesses; the market has major mood swings and offers wonderful buying opportunities; and that while we have our limitations and can’t accurately predict the future, we need to apply a margin of safety, and leave ample room for mistakes.
3/ What inspired you to write this book?
A passion for investing that I believe is contagious. The fascinating part about investing to me is that you never stop learning. You need to be a bit of an ever-learning renaissance man to be a truly successful investor over a lifetime.
Investing is an intellectually stimulating, challenging and humbling pursuit, that requires you to stay tuned in to the world around you. Whether we want it or not, investing touches our lives all around. So why not benefit from it? Why not have wonderful, successful, growing companies work for you? And why not share with others the benefits of investing?
Over more than a decade, I compiled lessons from who I believe to be the most successful investors, and lessons from my own good and bad investments. I organized those thoughts, and ideas, and I realized it would be a valuable guide for me had I received it 10-15 years ago. I wanted to offer everyone curious to learn about money and investing, a glimpse of what I have learned so far in pursuing investing as a lifelong passion and career.
4/ What is your favorite part of the book?
The first part, which I call thinking. There is no good living, and there is no good investing without thinking. I wanted the reader to realize how we need to think for ourselves, be able make up our own mind, and both benefit from the wisdom of the crowd, when it’s wise to do so, and not be afraid to be a true contrarian and disagree with the majority when it matters. There are no obvious great investments. To make truly remarkable investments, you’ll need to be comfortable going against the crowd at times. Stay patient, and be ready to make mistakes now and then.
5/ What are the reactions you have received so far?
I have received extremely favorable feedback from young people, their parents, seasoned investors, and even grandparents of my friends, who wish they had read it decades ago.
I get daily emails and notes from around the world. The book is read in both Americas, Europe, Asia, Australia, and most recently also Africa (Ghana and Zimbabwe).
I published it in paperback, e-book, and audio version, and it is now available around the globe on Amazon, Audible and iTunes.
The book has a very broad appeal. I have made friends with many curious minds around the world, some very experienced professionals, some just embarking on their path as investors.
It’s been a very educational, and inspiring experience for me.
6/ What’s next?
I have few more projects I’m working on. Outsmarting the Crowd is an introduction to money and investing, and there will be two more books that will complete the series, and give readers a complete set of tools to grow, and keep wealth over a lifetime, and over many generations.
I want to inspire more people to think about money and investing in a different way. I would love to empower them to have a better understanding of their financial affairs, have better conversations with their investment professionals, or have better tools to select the right investment professional for themselves.
Whether you are saving your first $100, or if you will inherit a lump sum from your parents or grandparents, you’ll need a better understanding of money and investing.
It’s an education needed today more than ever.
7/ Last thoughts?
Just start. Start anywhere. Read one book. Save the first $10. Look up one stock. Look up one fund, and see where it takes you.
I picked up Peter Lynch’s book One Up On Wall Street, then I discovered Benjamin Graham and Warren Buffett, and it changed my life.
I am told that Outsmarting the Crowd is having a similar impact on many people around the world, and nothing could make me happier.