A Reading List for Investors
Dec 18th 2023 — Colossus

If you’re short on ideas for a gift or you’re looking for something to read over the holiday season, look no further.

We asked a number of our guests from this year’s Business Breakdowns podcast for the most memorable investing content they consumed this year, and they didn’t let us down.

The list is sorted by the date their Breakdown aired and it covers the full spectrum of ideas, from buybacks to military battles. We’re particularly jealous of the last recommendation. 

We hope you find something to quench your curiosity, for a couple of weeks at least. 


Our Guests' Recommendations: 


The Founder’s Mentality
Andrew Hollingworth | Ryanair

I loved this book. It solidified much of my thinking about investing alongside owner-managers.


Investing in the Unknown and Unknowable
James Revell | Wise

Since reading that Charlie Munger said “The right way to think is the way Zeckhauser plays bridge. It’s just that simple” I started digging around the internet for some of his work. It was that or learning to play bridge! I really enjoyed this article.


The Price of Time
Ed Cowan | Indian Premier League

Having only really lived through one cycle (at best), I found it fascinating to learn about the impact interest rates have had on various events over many centuries.


The Genius of the System
Ben Weiss | Disney

A detailed and thorough history and analysis of the Hollywood studio system from the 1920s to the early 1950s.


What I Learned about Investing from Darwin
Saurabh Madaan | Markel


Founders #294 - Napoleon
Joseph Shaposhnik | Roper Technologies


Americana & The Rise and Fall of American Growth
Drew Cohen | Restoration Hardware

I’ll give you two books that sort of go together in explaining the history of American capitalism. (Americana is a way more fun read.)


Birth, Death, & Wealth Creation
​​Elliot Turner | PayPal


Humans are Creative
Joe Frankenfield | Roku

Brett Hall's blog is one of my favorites. This post may be a little outside the topic of "investing content," but I think is pretty relevant in explaining human creativity, why it is unpredictable, and therefore accurately predicting things like the economy (a reflection of human creativity/knowledge) is full of uncertainty.

Letter to a Friend Who May Start a New Investment Platform
Dan Bakalarz | Nubank

My wife shared this open letter with me as I was transitioning to running my own fund. It’s an ode to the business behind the business of investing. And I’ve found myself referencing this on multiple occasions since I first read it a few years ago.


The Outsiders
Mark Tomasovic | WEX

I’m always interested in times when managers buck the trend and stick to a pre-established personal dogma regardless of FOMO. This book highlighted several CEOs who stuck to disciplined capital deployment through cycles.


Market Wizards
George Hadjia | Match Group

While I am not a trader, there were many thought-provoking insights from the book and it sparked revelations about risk management protocols that I have since incorporated into my own investing philosophy.


The Power Law
Staley Cates | FedEx

VC is such a foreign world to me, yet what has come out of Silicon Valley is basically the index that clubs us seemingly every day in recent years! So this was very insightful about that world.


Margin of Safety
Freddie Lait | The Coca-Cola Company

I was given the most incredible present by one of my shareholders – a signed original copy of Margin of Safety. Re-reading this (I last read a pdf version 15y ago!) earlier this year felt very timely as we continue to see many investors disregarding margin of safety altogether these days!