Sticking with his outside-the-box thinking and contrarian persona, Hugh Hendry picks an obscure novel as the best investment book of all time... From The New York Times,
The inspiration for his investment approach comes from an unlikely source: “The Gap in the Curtain,” a 1932 novel by John Buchan. The plot centers on five people who are chosen by a scientist to take part in an experiment that will let them glimpse one year into the future. Two see their own obituaries in one year’s time.Probably not helpful to investors who rely on fundamental analysis but I can see some merit for those who are more macro-oriented and rely on technical analysis. Can you pluck a security's value at a point in time and take it for what it is; or is it important to know what led it to the current value? How about the state of a country or an industry? Something to think about...
Mr. Hendry calls the novel “the best investment book ever written” because it taught him to envision the future without neglecting what happened leading up to it, a mistake many investors make, he said.
(Thanks to reader, Vlado, for pointing out this article to me.) Tags: Hugh Hendry, insightful