Instead of reviewing some of my long-time investment favorites, most of which were published more than 20 years ago, I thought I would take a look something more contemporary. Since we are just starting an investment blog, Mr. Vinkanta’s title caught my eye. I was admittedly skeptical, because the title sounds a little too much like a get rich quick book.
“Never judge a book by its cover” – Abnormal Returns is well written, concise, and thoughtful, summary of the current state of the investment world. The author ambitiously covers a wide variety of subjects. Rather than just spouting opinions, he actually cites academic research.
I was particularly impressed with his chapter “Smarter Media Consumption”.
First, he gives me name to use for a phenomena I have noticed for 50 years.
Sturgeon Law – “90% of everything is crap”
More seriously, his section on “Noise” and “Going on a Media Diet”, are a must read for investors facing the information overload of the Internet era.
Even more important than any part of the book, is the trust I gained in the author’s approach to complex issues. Over 30 years in the investment business have taught me to trust almost nobody. I will be making a rare exception.
My trust was well rewarded. As I finished the book I clicked to the Abnormal Returns blog and found an article on what I consider a extremely critical issue. Without the book and the blog I would never have seen this article.
Much more on this subject another time.