Letters to a Young Analyst: Book Review – By David Merkel, CFA of Aleph Blog
We need to spend more time thinking about the big picture issues in investing. Why do we do what we do? How do we structure our firm to get the best out of the talented people that we employ? Where do we really have a sustainable competitive advantage?
This slim volume has much advice in these areas, but focuses on how young analysts can make themselves valuable to the firms that they work for.
In addition to the advice of Tom Brakke, you get the advice of 12+ analysts, many of whom I respect, explaining the “nuts and bolts” of good analysis to young analysts. I was on of the twelve, and judging from the other comments, there are many who remember what it was like to be young and grasping for help. What would we have done differently, given our acquired knowledge? This book is meant to give young and amateur investors a leg up.
The end of the book gives a wealth of resources on how the young analyst can learn. In this era, it’s almost more of a question of excluding pervasive bad content.
This is a great book for young analysts, and serious amateur stockpickers. If you are interested, you canbuy it here.
Unlike most of my book reviews, there is no way for me to profit off of this one, not that I ever profit much off of my book reviews. If you buy it, I encourage you to study it, because many older investors have given their best to aid young analysts.