I have no apparent inherent bias. Have read both and liked both. My issue is that both the books were written when the authors had much lesser experience in the markets. Investment philosophies and experiences change a lot over the years and I would much rather read something which is distilled advice from a long career spent in practising the trade than a few years.
It is the same reason why I do not have any of the early works of Ben Graham on my list or Mohnish Pabrai’s. They have all changed their thinking and self-corrected their ways. Why would I learn something that they themselves have rejected now?
For example, if I read blog posts I wrote 5 or 10 years back I cringe at what I see. Things have evolved so much over the years and I have learnt so much more by making more mistakes, do things right, being lucky, being unlucky that it seems like someone else had written those things.
So, no inherent bias. To be really honest, I have not found any great investing book to date. A few good ones are:
- Masterclass with Super Investors by Vishal Mittal & Saurabh Basrar
- Romancing the Balance Sheet by Anil Lamba
- The Thoughtful Investor by Basant Maheswari
- India’s Money Monarchs - compiled by Chetan Parikh (probably now available only as pdf)
- Of Long term value and wealth creation from equity investments by Bharat Shah (probably now available only as pdf)
- Value Investing and Behavioral Finance by Parag Parikh