Long-Term Buying

Since “passive index investing” was introduced in 2017, I’ve kept the same habit I’ve always had: occasionally flipping through books on “index investing” to strengthen my conviction about investing.

This book is divided into six parts, covering economics, investing concepts, behavioral biases, investment principles, investment products, as well as the investment strategies Professor Chou recommends. The earlier chapters cite more theoretical analysis and feel somewhat like academic research.

For most people, you can jump straight into Part 5 and Part 6 to get a grasp of the key points of investing and the investment strategy the professor recommends.

Matter is indestructible; money is indestructible. Only by building solid financial knowledge—rather than being overconfident, making wild guesses about the market, and trading in and out for the short term—can long-term investing keep your hard-earned money from becoming “leeks” that others can easily harvest.