“The true value investor, who deserves my utmost respect, is somebody who devotes their life to their passion for reading. Nobody can spend their life studying for 50 years – which is what we do – if they don’t enjoy it.”
Throughout the course of humanity, for a long time, we have been recording knowledge in books. That means there’s not a lot that’s new; it’s just recycled historical knowledge. Odds are that no matter what you’re working on, someone, somewhere, who is smarter than you has probably thought about your problem and put it into a book.
What many people see as a three-hundred-page book is often the accumulation of thousands of hours and decades of work. Where else can you get the entire life’s work of someone in the space of a few hours?
The best way to learn something is to try it yourself, but the next best way to learn is from someone who has already done it. This is the importance of reading and vicarious learning.
I love to read and learn from good books – the best vicarious experience one can get. Wherever I go, a book is not far behind. It might be on my phone or physical, but there is always a book close by. I love printed books. There is just something so calming and peaceful about reading a paperback or hardcover.