I’m often asked by college students for reading recommendations to help them learn more about investing. I feel like I change my answers, at least a bit, all the time depending on what I’m reading and what’s on my mind at any given time, but here’s my current list….

1. Warren Buffett’s Letters to Shareholders

2. “Poor Charlie’s Almanack”

3. Howard Marks’ “The Most Important Thing”
4. Nassim Taleb’s books, in this order…. “Fooled by Randomness” (twice, back-to-back), “The Black Swan” (once), “Antifragile” (twice, back-to-back), and then “Skin in the Game” (once).
I think after reading Buffett and Munger, things sometimes seem too easy. Taleb’s books helped me think about risk and randomness in a way other books haven’t. Howard Marks’ book (or letters) help a lot too, but Taleb’s books pound those lessons in.
5. Peter Kaufman’s essay on “Culture”

6. William Green’s “Richer, Wiser, Happier.” And you don’t just learn from the investors profiled in the book (about investing and life), you also learn so much from @williamgreen72 as he synthesizes and simplifies the important things.
7. Peter Bevelin’s books. They both tie Buffett and Munger’s ideas from over the years together, and “Seeking Wisdom” covers the big ideas from the other main disciplines.

There are plenty of other great books. And this is tilted toward fundamental/value investing....
But that list seems big enough to take a student about a year of practicing a daily reading habit to get through....
And if they also pay attention in accounting classes to learn the language of business, they’d be in good shape whether they go into investing or some other area of business….Especially if they also listen to the Berkshire Hathaway Annual Meeting podcasts along the way.

END

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A THREAD ON @SarangSood

Decoded his way of analysis/logics for everyone to easily understand.

Have covered:
1. Analysis of volatility, how to foresee/signs.
2. Workbook
3. When to sell options
4. Diff category of days
5. How movement of option prices tell us what will happen

1. Keeps following volatility super closely.

Makes 7-8 different strategies to give him a sense of what's going on.

Whichever gives highest profit he trades in.


2. Theta falls when market moves.
Falls where market is headed towards not on our original position.


3. If you're an options seller then sell only when volatility is dropping, there is a high probability of you making the right trade and getting profit as a result

He believes in a market operator, if market mover sells volatility Sarang Sir joins him.


4. Theta decay vs Fall in vega

Sell when Vega is falling rather than for theta decay. You won't be trapped and higher probability of making profit.