At Daintree, we spend a lot of time reading for work. So what should we do over the holiday season…more reading of course. Below is part one of a selection of books on our radar to try to tackle over the holiday season. Don’t forget to check out part 2!
Justin Tyler, Portfolio Manager & Director, Daintree Capital.
Brief Answers to the Big Questions (Stephen Hawking)
This is Stephen Hawking’s final book, completed for him after he died. In it he provides a number of short and easily digestible essays, which in turn summarise the questions he was most often asked during his career by both his scientific colleagues and the general public. He addresses questions such as: Can we predict the future? How did it all begin? Should we colonise space?
This fascinating subject matter is addressed as an iconic scientist, yet the delivery is refreshingly direct and free of jargon.
His view of the world brings a number of diverse topics together into a cogent whole, and his personality comes through the page to ensure that this is far from the sort of dry read that, coming from other scientific authors, it could be.
Investing is about continuous learning, about being on top of current affairs, and about questioning what you know (or think you know!) Sometimes, those questions lead you to new insights, and this is among the most rewarding elements of what we do. I have been moving house and thus too busy to finish this book having started it a few weeks ago, but I’m very much looking forward to finishing it and being further inspired to think ‘outside the box’.
Mastering the Market Cycle (Howard Marks)
Howard Marks is considered a super investor and founded Oaktree Capital Management specialising in distressed debt opportunities. His “memos to Oaktree clients” are read by investment professionals around the world including Warren Buffett. His latest work “Mastering the Market Cycle” aims to help readers study past cycles, understand their origins and remain alert for the next one, and to become keenly attuned to the investment environment as it changes.
The Fifth Risk (Michael Lewis)
Michael Lewis is an American financial journalist and bestselling non-fiction author with books describing his experiences at Salomon and the evolution of the mortgage backed securities in “Liar’s Poker” and where he investigates the success of Billy Beane and the Oakland A’s in “Moneyball”. His latest work, “The Fifth Risk”, Lewis takes us into the engine rooms of a government under attack by its own leaders and the public servants whose knowledge, dedication, and proactivity keep the machinery running.
Big Debt Crises (Ray Dalio)
Raymond Dalio is the founder of investment firm Bridgewater Associates, one of the world’s largest hedge funds. He recently published a book called “Principles” which shares the unconventional principles he developed, refined, and used over the past forty years to create results in both life and business. His latest work, “Big Debt Crises”, was released on the 10th anniversary of the 2008 financial crisis, and shares his unique template for how debt crises work and principles for dealing with them well.
Enjoy your summer break.
JT.
Justin Tyler is a Director of Daintree Capital and Portfolio Manager of Daintree Core Income Trust. Daintree Capital is a specialist absolute return, fixed income investment manager. Find out more here.
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