September 1st, 2015, 4:53 pm
To round out your studies, I would recommend the book Red-Blooded Risk: A Secret History of Wall Street by Aaron Brown.The book has very good insights on investing/gambling/risk management and personality traits that may lead you to be better or worse at any and all of them. For gamblers, in particular, cash management is key. The same is also true for solo investors working only with their own money. Blowups, as you say, can be a learning experience, but how often will you be able to bounce back, especially if a minor blow up evolves into a major one?Risk management is the critical issue that is often neglected in the typical texts (however engaging) on the successful investors and it is addressed at length in this book.