Monday, July 02, 2007

Castles in the air

I have just started reading a book titled 'The Intelligent Investor' by Benjamin Graham. This book is considered Bible for all those interested in Security Analysis, Shares and Bond Markets, Deep value investing, Fundamental analysis etc, with Benjamin Graham being the 'GOD' in this field. Incidentally, Warren Buffet was one of his pupils in Columbia University, and regarded Benjamin as one of the most influential persons in his life. You can read more about Benjamin Graham on the following link-

http://en.wikipedia.org/wiki/Benjamin_Graham

I will suggest the readers to read this book at some point of time---I am not reading this because I am interested in share market or anything of that sort. I have never invested a penny in share market, and dont even intend to do. The reason why I am reading this book is because of the way this book desribes the mental make-up of people, the way people analyze certain situations and react, the way herd mentality in the market make people buy at high prices, and sell at low. The idea is to understand more about human mind, driven by greed, fear, euphoria and irrationality, with a backdrop of investing.

Alrite, now coming back to this post, the real reason why I am writing is to share something written in the book 'The Intelligent Investor'. And here it goes-

"If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them."
- Henry David Thoreau, Walden

Castles---MBA in a Top B-school
Foundation---GMAT Preparation (to start with)

Hmmm....