How to succeed in investing without really trying

On the 9th day of Christmas, Livewire gave to me…
Top picks to read/watch/listen to over the break

It’s not often on Livewire that we’ll tell you it’s possible to become a better investor without really trying. After all, good investing takes patience, careful research and experience – but as it so happens, there are some things you can do with minimal effort that can certainly help you on your journey.

And what is this unbelievably lazy option to improve your skills and mindset? It’s something you can do lying on the couch in a food coma after the Christmas roast, or out walking the family hound – or to drown out the noise of over-excited children with the offensive noisy toys family members who clearly don’t like you gifted. (Those who have experienced the Meowsic keyboard or one of its many peers will know what I mean…)

I’m talking about a great read, podcast or show that can teach you a lot about investing.

While most investors perhaps automatically turn to such gems like Benjamin Graham’s The Intelligent Investor or books-turned-movies like The Big Short (in this case, perhaps it provides examples of what not to do), I turned to some of the experts as well as the Livewire team for their favourites and what they are reading at the moment.

So settle down over the break with some of that leftover pudding and custard and enjoy the lazy way to become a better investor – and the best part is, you don’t even have to make the mistakes first to learn the lessons!

1. Ready Aim Fire: the Mainfreight story by Keith Davies

Recommended by Oscar Oberg, Wilson Asset Management 

“Mainfreight is an amazing business in New Zealand that started from nothing and is not a global business. We think it’s one of the best businesses on the New Zealand stock exchange. It’s a fascinating read about what Bruce Flesstead and Don Braden did over the journey of building the company,” Oberg says.

He notes it’s one of the best books he has read all year.

2. Bloomberg’s Masters in Business with Barry Ritholtz

Recommended by David Lloyd, Ausbil Investment Management

“Masters In Business has long podcasts on everything in investing and 15 minute podcasts on how investors can master their behaviour,” Lloyd says.

Lloyd also suggests another stocking filler: Joel Greenblatt’s Little Book that Still Beats the Market.

“He wrote it so his children could understand, little did he know most investment managers would also read the book for its profoundly useful approach to equity investing,” he says.

3. Losing the signal: the untold story behind the extraordinary rise and spectacular fall of Blackberry by Jacquie McNish and Sean Silcoff
and Power Failure: The Rise and Fall of General Electric by William D Cohan

Recommended by Joel Fleming, Yarra Capital Management

“Both offer important lessons on what can derail even the most successful companies,” Fleming said.

4. Steal like an artist by Austin Kleon

Recommended by Luke Laretive, Seneca Financial Solutions

“It’s about how no idea is original, everything comes from somewhere and your job is to remix that into your own thing. It’s a book about creativity, but it’s probably taught me more about my job than Peter Lynch, Warren Buffett and Ray Dalio combined,” Laretive says.

5. The Psychology of Money by Morgan Housel

Recommended by Sarah King, Stockspot

“We’ve actually just sent this book out to a lot of our high-net-worth clients. It’s a great read. If you don’t have time for the whole book, you can always listen to the summary of it on the Headway app which breaks it down really nicely,” says King.

6. In Good Company podcast with Nicolai Tangen, CEO of Norges Bank Investment Management

Recommended by Hans Lee, Livewire

“I’ve become a big fan of this podcast where Nicolai Tangen interviews fellow investment and corporate leaders. The questions are insightful and Nicolai is a very good interviewer/presenter. If you don’t like the 50 minute versions, try the 10 minute condensed versions to start with,” says Lee.

He is also reading I will teach you to be rich by Ramit Sethi, noting that the way he breaks down the meaning of wealth is "very thought provoking.”

7. Caleb Hammer's "Financial Audit" YouTube show

Recommended by Vishal Teckchandani, Livewire

Who said that investing couldn’t be a bit spicy? Hammer’s youtube viral show dives into the messy financial lives of individuals, with blunt but practical advice to help people get back on track.

“If there were R-rated financial content, this would be it. With his no-nonsense style and brutally honest approach, Caleb doesn’t sugarcoat the truth – making accountability and financial literacy both entertaining and eye-opening for his growing audience,” says Teckchandani.

He also loves the videos by Zac Rios exposing spending habits of young people.

8. Think and grow rich by Napoleon Hill

Recommended by Matthew Gabriele, Market Index/Livewire

This one was first published during the Great Depression but it’s easy to apply the lessons.

“Hill condenses the principles of personal achievement into easy to understand blocks that are still very relevant today. Although the title implies the book is solely about building wealth, the ideas outlined in the book can be used to improve all aspects of one’s life,” says Gabriele.

9. The Joy of Money: The Australian woman’s guide to financial independence by Kate McCallum and Julia Newbould

Recommended by yours truly, Sara Allen, Livewire

I like to dip into this one from time to time to refresh my knowledge, it covers all the basics of money management and investing in a clear and easy to read way.

A separate recommendation would be the Financial Crime Matters podcast with Kieran Beer, Chief Analyst at ACAMS where you can grab great insights into how people at the frontline of protecting us from financial crime are managing topical concerns.

10. The ride of a lifetime by Bob Iger

Recommended by Michael Higgins, Milford Asset Management

There’s plenty to learn from Disney’s long-serving CEO, and Higgins also recommends What it takes: Lessons in the pursuit of excellence by Blackstone CEO and Chairman Stephen A Schwarzman, along with the highly inspirational The Happiest Man on Earth by Eddie Jaku.

Happy reading/listening/watching Livewire readers! Share your top picks in the comments below.