Good blogs: Ben Carlson

A blog that we read intermittently is written by US-based Ben Carlson (CFA), and is called ‘A Wealth of Common Sense’.

A Wealth of Common Sense is a blog that focuses on wealth management, investments, financial markets and investor psychology. Carlson is the director of Ritholtz Wealth Management LLC. A Wealth of Common Sense is a blog that focuses on wealth management, investments, financial markets and investor psychology.

Carlson has managed institutional portfolios his entire career, and has worked as a consultant developing portfolio strategies, created investment plans for various foundations, endowments, pensions, hospitals, insurance companies and high net worth individuals.  He is also the author of several books, including A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan and Organizational Alpha: How to Add Value in Institutional Asset Management.

He wrote that the main reason he started his blog was to try to explain the complexities of finance in a way that everyone could understand, after reading a quote attributed to Albert Einstein who said, ‘If you can’t explain it to six-year-old, you don’t understand it yourself.’

As well as being an author of books, he is also an avid reader. In a recent (republished) blog entitled The Best Finance Books in One Sentence, he wrote that while he would recommend reading the books listed below, but for the sake of those who were probably not going to do this he had gone through his favourites and summarised them in one sentence.

The Intelligent Investor by Benjamin Graham: Give yourself a margin of safety because Mr. Market can be insane.

One Up on Wall Street by Peter Lynch: Buy what you know.

Reminiscences of a Stock Operator by Edwin LeFevre: The trend is your friend.

Where Are the Customers Yachts? by Fred Schwed: Wall Street can be an unforgiving place.

Common Stocks and Uncommon Profits by Philip A. Fisher: Buy high-quality stocks and never sell.

The Black Swan by Nassim Tale: Shit happens.

The Money Game by Adam Smith: The stocks don’t know you own them.

A Random Walk Down Wall Street by Burton Malkiel: Don’t try to beat the market.

The Alchemy of Finance by George Soros: Markets are one giant feedback loop.

Liar’s Poker by Michael Lewis: Greed is good…for Wall Street.

Stocks For the Long Run by Jeremy Siegel: Buy and hold.

The Little Book of Common Sense Investing by Jack Bogle: Costs matter.

When Genius Failed by Roger Lowenstein: Temperament is more important than IQ.

Against The Gods by Peter Bernstein: Risk is in the eye of the beholder.

Winning the Loser’s Game by Charles Ellis: You win at the game of investing by avoiding mistakes.

Your Money & Your Brain by Jason Zweig: We’re not hardwired to be successful investors.

Simple Wealth, Inevitable Wealth by Nick Murray: The triumph of stocks.

The Millionaire Next Door by Thomas Stanley: Live below your means.

Poor Charlie’s Almanack by Charlie Munger: Read and learn widely.

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