Seymour Schulich is a brilliant investor, businessman. From Montreal he is a very down to earth billionaire, worth about 1.3-1.8 billion....who knows. he lives in the same house, similar to Warren Buffet.
co-founded with Lasonde Franco Nevada which produced a great amount of wealth for investors, (
owned a small amount, so probably the main reason believe he is great). also wrote many times that he was a large investor in the cdn. oil sands, before most people even recognized the possiblities.... also invested some, though wish it was more. he made a great call.
anyways he is now in his late 60s and like Warren giving away much of his fortune. he aslo wrote a book that plan to read (Get Smarter) about 300 pages. anyways during an interview he stated during his life he has read 2500 books.
now some people are fast readers, not me, and often find it hard to find time to read. however this gave me a chance to think how many book I have read....the total... only 67.
not a contest and will never reach 2500 like Schulich though plan to read a least a couple of hundred.
(figured have watched 630 movies roughly, some good, many awful)
one of the books that I read was The Bubble and the Bear.
this book was orginally priced at 37.95, picked up at a book store (went to buy a paper) and this was on sale fo $2. almost cheaper than the paper.
the author Douglas Hunter does a brilliant job of going over in great detail the art of accounting.
another factor to look at is how a company can spin numbers and though questioned at first can be often taken as fact... ie. earings without interest, taxes, ect.
also how to be carefull when a company is always acuiring other companies, and how accounting works when reporting earings.
at one time nortel was over 30% of the cdn. index. this also lead to the move in nortel, since most money managers had to try to beat or equal the index. however when nortel took over a company many times those shares could not be traded for 12-18 months....so you create demand however have limited (for 1-2 years) a supply of shares.
also in this book how managers were paid in stock options, so they talked up their stock, and even reported numbers in the best possible lights.
in general a very good book and woth far more than $2, if there are faults it would be trying to relate it to investors who owned the stock, and on the message boards (raging bull, and yahoo)
Douglas Hunter would bring up an investor and then sometimes talk about another piece of account or nortel corporate history... just have one simple chapter. also the message boards which in 99% of the cases are just full of believers, though good are dispersed through the novel... maybe a chapter that focuses more on that aspect.
still a good book and after reading this you will know why you need a stop loss, never average lossers (which some large investors did), and sell when the story is broken.
a good read.
thanks
selkirk
co-founded with Lasonde Franco Nevada which produced a great amount of wealth for investors, (
owned a small amount, so probably the main reason believe he is great). also wrote many times that he was a large investor in the cdn. oil sands, before most people even recognized the possiblities.... also invested some, though wish it was more. he made a great call.anyways he is now in his late 60s and like Warren giving away much of his fortune. he aslo wrote a book that plan to read (Get Smarter) about 300 pages. anyways during an interview he stated during his life he has read 2500 books.
now some people are fast readers, not me, and often find it hard to find time to read. however this gave me a chance to think how many book I have read....the total... only 67.
not a contest and will never reach 2500 like Schulich though plan to read a least a couple of hundred.
(figured have watched 630 movies roughly, some good, many awful)
one of the books that I read was The Bubble and the Bear.
this book was orginally priced at 37.95, picked up at a book store (went to buy a paper) and this was on sale fo $2. almost cheaper than the paper.
the author Douglas Hunter does a brilliant job of going over in great detail the art of accounting.
another factor to look at is how a company can spin numbers and though questioned at first can be often taken as fact... ie. earings without interest, taxes, ect.
also how to be carefull when a company is always acuiring other companies, and how accounting works when reporting earings.
at one time nortel was over 30% of the cdn. index. this also lead to the move in nortel, since most money managers had to try to beat or equal the index. however when nortel took over a company many times those shares could not be traded for 12-18 months....so you create demand however have limited (for 1-2 years) a supply of shares.
also in this book how managers were paid in stock options, so they talked up their stock, and even reported numbers in the best possible lights.
in general a very good book and woth far more than $2, if there are faults it would be trying to relate it to investors who owned the stock, and on the message boards (raging bull, and yahoo)
Douglas Hunter would bring up an investor and then sometimes talk about another piece of account or nortel corporate history... just have one simple chapter. also the message boards which in 99% of the cases are just full of believers, though good are dispersed through the novel... maybe a chapter that focuses more on that aspect.
still a good book and after reading this you will know why you need a stop loss, never average lossers (which some large investors did), and sell when the story is broken.
a good read.
thanks
selkirk
