As I find regular recommendations algorithms not so useful when it comes to good books about investing or economics, I will try to share books I read and find good. I will keep the reviews short but hopefully you will also conclude that the books mentioned here are not a waste of time.
I found “Capital Returns: Investing Through the Capital Cycle: A Money Manager’s Reports 2002-15” by coincidence before my last holiday. The main message is pretty simple, besides the usual focus on business models and value, you should also be aware of the cycle and act accordingly and you might have to take a very long view to get your returns. What I really enjoyed is how practical the book is: they share in detail thinking on particular companies, industries but also what indicators they were looking at to try to understand what’s the current sentiment in the market and if it’s a good time to be defensive or take more risk. Moreover, it’s refreshing to read a book with individual examples of stocks listed in Europe in contrast to the usual US centered view of the investment community.
At 211 pages the book is short with very strong message making it, in my opinion, great value for the time you have to spend reading it.