The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated (Heilbrunn Center for Graham & Dodd Investing Series)

The power of habits. Continuous learning self-Improvement. A primer on investing basics. Due diligence mixed in with some relevant examples from the author. Quotes from Munger, Buffet and Franklin add to the story.

I love reading investment books, but rarely write book reviews. I decided to write one for this book as I have never heard Gautam Baid's name before, and absolutely loved his book soon after I started reading a few chapters. I wish I could have read his first edition book earlier, and do not want others to miss this revised edition.Investing is simple, but not easy. All important investment rules have been outlined at the end of Chapter 2 in this book. How well you apply those rules to your daily investment practice separates great, just so-so, and poor investors. To be a truly great investor, you need to have the right temperament, know how to collect information and data that really matters, process them properly, and make rational decisions. The book covers those topics in details with plain language and many excellent quotes of great investors and wise thinkers.I have made highlights all over this book, including the Acknowledgments section at the end, where Gautam has a long list of people from whom he has learned investing, skill development, positive habit formation, competitive strategy, risk management, and many other subjects mattering to become good investors. So even the Acknowledgements section of this book can be an excellent reference if you are interested in any of those subjects.While I read the book, I often got a feeling that reminded me of my school days when an all-A student had generously showed me his study notes. Please make sure you take advantage of the offer!

I have read half the book so far and I am really enjoying it. More than I thought I would. I originally bought it for my nephews ages 10 to 12 but they only read the 1st two chapters and lost interest. I am a novice investor, retirement accounts, and I really enjoy the quotes and perspective of famous investors. The first half is more about mindset and beliefs that blue color folks like myself can digest. Work hard, save and invest for the long term. Quotes that come to mind are, Don't invest in what you don't understand. Being happy is simple, but being simple is hard. Pleasure doesn't equal happiness. Wealth is controlling your time. Rich people say no, but wealthy people say no more often. Those are not exact quotes but general concepts that the book talked about that I liked.

Nothing here is original. What's original is the bringing together of insights and wisdom collected by the author over the years of voracious reading.

I'm frequently asked for book recommendations, probably more frequently on learning than on investing. This book is a masterpiece of both. I absolutely love the way it is structured. First, Baid builds the method for compounding knowledge, which is not only a prerequisite to be a great investor, but also a prerequisite for a great life. The quotations, book citations, and brilliant one-liners left me with a book that had highlights, underlines, and bookmarks all over it. Furthermore, after finishing the book a few weeks ago, I've already pulled it off the shelf to look up certain sections about three times. To me, this is the sign of a truly great book. On the investing side, the examples are fresh and poignant for today, which is sometimes hard to find in good books on investing. When I am asked by young investors, what book they should start with, I will now be suggesting The Joys of Compounding. Absolutely incredible.

These book gives you Gautam investing experience which is really eye opener and add tons of value in your journey of investing. I do suggest to include in these book how he make his valuation for the business by applying Buffetts principles.Recommended for new investors

Your actions and how you allocate your resources compound to where you are today, and what you do today determines the opportunities and resources of tomorrowHonestly, not a great choice for a first investing book, but if you have some knowledge it will be a great read! The non-investing parts were also very enjoyable!

An incredible read! Contains timeless wisdom about markets, business and life. Would recommend highly to anyone on the path of self improvement.

This book is pure gold, it provides so many insights from giants like Buffett and, Munger and Parbai. It contains huge amounts of advice about the behaviours needed to be financially successful.

This book summarises the best bits of wisdom from 20-30 different sources. Gautam Baid condensed years of research, experience, and reading into a simple-to-follow, no-nonsense read.I have bought 3 books (one for myself and two gifts) and I intend on buying many more. I can not recommend this book highly enough.

A spellbinding book filled with wisdom. The value of the lessons in chapter two alone far exceed the price of the book. Highly recommended.

A joy reading it

This is a very good book, and requires engaged, attentive reading i.e. it is not one for skimming through. Personally, I needed many hours spanning a few weeks to get from start to finish. It was certainly an enlightening reading experience, and taught me quite a few novel real-world concepts and nuances, never mind the fact that it is 20+ years since I graduated from college.The foreword is written by Guy Spier, and the structure of the book's contents follows five sections: achieving worldly wisdom, building strong character, common stock investing, portfolio management, and decision-making. For detailed contents, please refer to the images of these pages in the "Customer Images" section of this review.For me, this book turned out to be a veritable tome overflowing with classic aphorisms ascribed to the likes of Confucius and Seneca, and far more so quotes from Buffett's and Munger's interviews or excerpts from Berkshire Hathaway annual meetings/reports. There is an abundance of sage advice/observations/insights/assertions from other eminences grises too, be they from the realm of investing, or philosophy, or general everyday life. A long list of such grandees is provided in the last paragraph of this review. Some of these are quite active and widely followed twitterati, quite the Tweet Elite of FinTwit, and I recommend following them in addition to the author.A lot of personal investing mistakes and successes are also shared, but these are limited to Indian equities.Behavioral finance is another topic that receives ample coverage.The last ~18% of pages are a couple of poems; a long list of people to whom the author pays his tributes; notes; a lengthy bibliography; and quite a comprehensive index.Now a pair of mild negatives: first, this maiden authoring effort can sometimes reek of "gurugiri" i.e. sections of it can feel cloyingly sanctimonious; second, tautologies abound.Overall, this is a highly commendable book, and almost as good as many top long-term investing books condensed into a single volume. Unfortunately, its price is stratospheric in India (approximately ₹2200 when I last checked), and even as of mid-October 2020, this book lacks an affordable Indian print edition, notwithstanding intermittent affirmations by the author e.g. a tweet about his "plan to change that - very soon!". UPDATE: As I write this sentence on 28 October 2020, amazon.in has a paperback version for India listed for ₹449 (i.e. 10% off the ₹499 list price), and the Kindle version for ₹334.95. The actual date of availability, however, is slated to be circa 20 November 2020.I will end with a (most likely incomplete) list of people that have been mentioned in this book: Warren Buffett and Adam Smith; Charlie Munger; Benjamin Graham; Benjamin Franklin; Napoleon Hill, David Schwartz, and Ian Cassel; Geoff Colvin, Daniel Coyle, Cal Newport, and Anders Ericsson; Charles Duhigg and James Clear; Robert Maurer and Darren Hardy; Gillian Zoe Segal and Scott Adams; Guy Spier, Vishal Khandelwal, and Morgan Housel; Robert Kiyosaki; George Clason; Thomas Stanley, William Danko, David Bach, and Harv Eker; Shane Parrish and Professor Sanjay Bakshi; Mohnish Pabrai; Basant Maheshwari; Nassim Nicholas Taleb, Max Gunther, and Leonard Mlodinow; Kenneth Posner; Sun Tzu, Michael Porter, W. Chan Kim, Youngme Moon, and Bruce Greenwald; Peter Bernstein, Howard Marks, and Seth Klarman; Peter Thiel; Clayton Christensen; Peter Bevelin; Thornton Oglove, Howard Schilit, and Charles Mulford; Stephen Penman and Baruch Lev; Daniel Kahneman, Amos Tversky, Richard Thaler, Dan Ariely, and James Montier; Herbert Simon; Fred Schwed; Robert Cialdini; Nate Silver and Philip Tetlock; John Allen Paulos, Barbara Oakley, and Jana Vembunarayanan; Darrell Huff and Charles Wheelan; Atul Gawande and Michael Shearns; Phil Rosenzweig, Elliot Aronson, and Duncan Watts; Michael Mauboussin and Annie Duke; Jason Zweig and Gary Belsky; John Burr Williams, Alfred Rappaport, Bharat Shah, and Utpal Sheth; Charles Mackay, Charles Kindleberger, John Galbraith, John Brooks, Edward Chancellor, Robert Shiller, and Maggie Mahar; Peter Senge and Donella Meadows; George Soros, Benoit Mandelbrot, and Richard Bookstaber; John Maynard Keynes; Burton Malkiel, Charles Ellis, and John Bogle; Phil Fisher, Peter Lynch, Ralph Wanger, Pat Dorsey, Tom Gayner, Terry Smith, Chuck Akre, Peter Cundill, William O’Neil, Jesse Stine, and Nicolas Darvas; Jesse Livermore; Thomas Phelps and Thomas Russo; Anurag Sharma; Gustave Le Bon; Professor Aswath Damodaran; Sam Zell; Maurice Schiller, Joel Greenblatt, and Martin Whitman; Laura Rittenhouse; Roger von Oech; Richard Feynman; Seneca, Aurelius, Epictetus, and Ryan Holiday; Will Durant, Ariel Durant, and Yuval Noah Harari; Steven Pinker and Hans Rosling. Or, to put it in a facetious light, almost everybody who is anybody when it comes to investing and tangential fields. :-)