Readings

We are late -- but not too late -- in calling attention to Michael J. Mauboussin's More Than You Know (Columbia), a wonderfully thoughtful and insightful book on how to think about markets and investing. Mauboussin, chief investment strategist at Legg Mason, draws heavily from behavioral economics, complexity theory, and natural and social science to explain why following the prescriptions of theoretical finance won't get you very rich. You'll learn about running with the herd, thinking short- and long-term at the same time and looking for low-probability, high-payoff events. These short essays are at once sophisticated and accessible, intriguing and entertaining. An ideal present for investment novices or sophisticates.

-- S.P.