Mencoba cara baru untuk memahami buku bacaan lebih efektif!

Setelah baca beberapa buku tentang cara membaca buku untuk optimal pemahaman, kali ini saya mencoba mempraktekkannya dalam versi saya sendiri lewat proyek bacaan ke 3 saya, yaitu buku Howard Marks, yang sangat menarik membahas tentang filosofi sikologi investor dari pandangan seorang ACTIVE INVESTOR.

Ini buku yang cukup ringan dan sangat singkat (hanya 180 halaman saja), sangat di rekomendasi untuk di baca oleh siapa saja yang ingin menambah ilmu tentang filosofi investing.

Namun lucunya, sebagian ide cukup berlawanan dengan bacaan saya sebelumnya, dimana pembahasan The Warren Buffett Way sangat tonjolkan konsep Focus Investing yang menunjang skills untuk growth stocks (holding long position) sedangkan buku ini sangat menonjolkan pengendalian resiko dan lebih arah ke value investing (buy low sell high).

Walaupun demikian, bagus sebetulnya buat prospektif yang berbeda sehingga kita yang kurang berpengalaman tidak selalu mentah-mentah menerima begitu saja semua ilmu dan ide hasil bacaan.

Ringkasan di bawah ini adalah versi super singkat, dan akan menjadi roadmap saya nanti untuk menulis ulang dengan penjelasan yang lebih lebar dan bermakna.

Tujuan post ini adalah membagi ide saja, barangkali bisa bermanfaat bagi anda yang ingin mencoba teknik ini? Agak makan waktu sebetulnya, karena setiap selesai 1 bab harus memikirkan bagaimana meringkas makna bab tersebut sesingkat mungkin.

Tapi hasilnya lumayan, sekali baca bisa menangkap overall makna dari buku tersebut.

Masalahnya saya orang yang susah fokus saat baca, begitu habis baca bab terakhir, bab-bab depan sudah lupa semua, atau karena kadang sibuk terlena beberapa hari hingga minggu, jadi yang sebelumnya di baca pun lupa habis. Jadi cara ini cukup membantu saya.

Anyway, here we go, 20 bab dari buku The Most Important Thing by Howard Marks versi super singkat!

1. Second level thinking – edge in thinking differently than consensus

2. Efficient market and its limitation – efficient means speedy but not being right

3. Value – fundamentally (tangible) derived intrinsic value

4. Relationship between price and value – price determines the value we paid

5. Understanding risk – risk is the possibility of permanent loss

6. Recognising risk – risk builds up during price upswing and materialises in burst

7. Controlling risk – intelligently bearing risk for profit through risk awareness, analysis & assessment, diversification to achieve greater rewards

8. Being attentive to cycles – cycles existed and will always do. Credit cycle is one to watch out for. Prosperity brings upon excessive lending, which leads to unwise lending, then produces big losses, which makes lenders stop lending, thus end of prosperity

9. Awareness of the pandulum – another term for economic cycle, but dealing with market behaviour, specifically psychological factor of investors

10. Combating negative influences – be rational and realistic

11. Contrarianism – Doing the opposite of the herd with high skepticism based on reason and analysis

12. Finding bargains – happens when price is low relative to value and return is high relative to risk, the way to see it is by thinking the opposite of why it isn’t a bargain (where perception is worse than reality)

13. Patient opportunist – Waiting for investments to come rather than chasing after them

14. Knowing what you don’t know – acknowledging the difference between probability and outcome

15. Having a sense for where we are – future can’t be known, but present can. Figure out what’s going on around us, then use it to guide our actions

16. Appreciating the role of luck – in a single occurance event, anything can happen, aggressiveness and boldness can easily be mistaken for skillfulness. It takes good decisions to achieve longterm growth

17. Investing defensively – is another way of saying avoiding losers, and winners will take care of themselves

18. Avoiding pitfalls – be aware of current state of economy, risk, cycles, pendulum, negative influences and your limitations

20. Adding value – adding investor’s skilled-factor to a symmetric performance of an index based on beta

Semoga article ini turut memberi manfaat dan ditunggu ya versi bertelenya nanti hehehe…

Salam longterm investment,

Alianto Chan

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Author: aliantochan

I'm just an anybody guy who shows strong interest in stock investing. Stock investing is more than just making money, it's a way of life. The way we approach stock investing will reflect the way we are as a person. Choose wisely how you want to invest as to how you would want to live your life. The fundamental principles are the same. Contentment, discipline, endevour, patience, practice and mindfulness are the very true principles of a better person!

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