As readers can tell from my last post, I have accumulated a bit of knowledge over the years on how to invest in the stock market. Most of this has just been reading some key financial blogs rather than consuming massive financial textbooks. One of my favourite blogs, JLCollinsSnh, has an excellent series on Stock Investment, and I am excited to also share that he has just released his book on the topic,
The Simple Path to Wealth: Your road map to financial independence and a rich, free life
by JL Collins.
In the interest of full disclosure, I also didn’t have time to finish it completely in time for the release. Like most people I have other things going on – holidays, work, other hobbies – that are competing for my time. That’s why I enjoy taking in financial knowledge in small bite-sized blog pieces; I enjoy reading about it more and remember it better by doing so. Fortunately The Simple Path to Wealth is perfect for this method of consumption – being both enjoyable to read and well paced. A good few breakfasts were spent devouring cereal and a chapter in the morning.
I started off thinking I’d just read a chapter or two to start – I ended up reading 10 and forgetting about lunch. That’s pretty impressive for a book on money – usually I’m asleep by chapter 2 or finding an excuse to put it down. JL Collins is very experienced in delivering difficult content in easy to assimilate pieces, and I really noticed this in his chapter on bonds. He divided the chapter into stages to explain bonds, explaining to only read as far as you thought you needed and then move on. It was a brilliant idea to actually get me to read about the most boring subject on Earth, and also allowing the reader to not stress too much about how “difficult” the content would be.
Another brilliant chapter included a comparison between Martial Arts and stock picking. When Mr Collins was learning Martial Arts, he was given a warning – if he was ever tempted to use kicking techniques in a street fight, he needed to ask himself – “Am I Bruce Lee”? If the answer was “No”, then he should keep his feet on the ground… because it’s always harder and riskier than it looks. Stock or fund manager picking is exactly the same – ask yourself “Am I Warren Buffet?”. If you are not, you will come off second best.
The Simple Path to Wealth contains tried and tested wisdom; forged in the fires of several market crashes, a recession and hyper-inflation. Jim has lived through these, as well as a retrenchment and some “F*** you” moments with his boss, and lived to tell the tale. I really enjoy his writing style, and the serious financial content is lined with gems of his own stories in between. This makes it a very enjoyable read and you won’t find more down to earth, sensible, advice very often.
I really appreciate how The Simple Path to Wealth is devoid of any horror stories or scaremongering. In the age of “The Stock Market is doomed!” type stories, it’s a breath of fresh air to hear that it’s happened before, it’ll happen again, and don’t worry – you’ll be just fine if you stick with the ride.
This is advice that I heard years ago from my Dad as I started out on my own financial journey, and it certainly shines through that it’s his love for his daughter that has driven his blog and stock market investing series. I’m just glad that he’s shared this insight with the rest of the Internet and now offline readers as well. Here’s hoping that many, many more people will now hear his message, and gain many years of simple stock investment and a prosperous path to wealth!