Principles: Life and Work

Ray Dalio is an impressive guy, growing up in a middle-class family in Long Island, NY to the founder of Bridgewater, the world’s most successful hedge fund. In this book (not an “investing” book), he reveals his personal life goals and strategies that he lives by through many stories and entertaining ideas. As an EM physician, I fully resonate with many of his reflections and mantras, especially “embrace reality and deal with it” and “pain + reflection = progress.” It’s a real book, with tough principles and challenges, but one that I’ve come to aspire towards.


The Intelligent Investor: The Definitive Book on Value Investing

The Intelligent Investor is often referred to as the “stock market” bible by many. It’s NOT an easy read, and perhaps not the one you should start with. But I believe in history and philosophy, and this book can be considered the beginning of value investing principles. Don’t get frustrated if you don’t understand everything right away! This is a resource to keep on your shelf and keep coming back to as needed. Each time I reference it, I understand it better.


The Dhandho Investor: The Low-Risk Value Method to High Returns

In my opinion, Mohnish Prabai is a brilliant value investor! I love reading this book because he provides many examples and stories to highlight some of the most fundamental principles of value investing. In other words, he provides the framework for your value investing home, so that you can focus on picking out the furnishing later. “Low risk, high return”: that’s his mantra, and one that I live by. “Few bets, big bets, and infrequent bets” is another of his main principles that I’ve adopted in my practice.

Invested: How I Learned to Master My Mind, My Fears, and My Money to Achieve Financial Freedom and Live a More Authentic Life (with a Little Help from Warren Buffett, Charlie Munger, and My Dad)

This was one of the first investing books I read, and I was hooked! Danielle Town is someone I can totally identify with: at the time she wrote this book, she was in her mid 30’s, was a successful lawyer at a reputable law firm, and, like me, after years and years of education and training she had finally landed her “big girl” job. She anticipated being able to finally enjoy life, but she did not. She was stuck in a grind at work, working to afford the life that she wanted. Fortunately for her, her father Phil Town is a famous value investor, and she finally decided to give in and learn what he preached to so many others all over the world. In her book, she describes the process, content, and principles of value investing from a novice perspective that is very easy to understand and follow. I would recommend this as an early read on your value investing journey.

Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week! 

Author and now famous investor Phil Town came to investing with a background, similar to many of us. He was a river guide, with aspirations to have a better life with more fun. In his words, “I came to investing as a person who wasn’t great at math, possessed zero extra cash, and wanted a life—not an extra three hours of work to do every day. Fortunately, I was introduced to The Rule.” This books teaches non-investors and non-finance folks the basics and lays a solid foundation for understandings the principles of value investing.


InvestED: The Rule #1 Investing Podcast

Phil and Danielle Town are a father-daughter duo that I enjoy listening to. Phil is a pro value investor who co-hosts the podcast with his novice investor daughter, Danielle (author of one of my recommended books!). While Phil holds all the knowledge and experience, Danielle is the one who challenges him to simplify his teachings to make them practical and usable. She usually asks him all the questions I want to ask! From principles to individual stock assessments to interviews with some of the most successful investors, this is one podcast that I listen to weekly.

We Study Billionaires – The investor’s Podcast

Advertised to be the largest stock-investing podcast in the world, We Study Billionaires is a relaxed and fun podcast hosted by two impressive guys, Preston Pysh and Stig Broderson. Since 2012, the podcast has brought valuable educational content for investors all over the world. From reviewing successful investors to analyzing various stock picks or talking about Bitcoin, this podcast is an easy listen that will keep you up to date with all you need to know in the investing world.

The White Coat Investor

Dr. Jim Dahle, creator the WCI enterprise, is an EM physician (like me!) and is probably one of the most popular resources for financial advice among the medical community. I’ve been an active member of the FB group for year, and an occasional listener to the podcast. This community has been invaluable in terms of understanding various different point of views, and covers all things finance – including insurances, real estate, buying your first home, mutual funds, and so much more.