Posted 1 year ago
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Reading books is something I seldom do. But many others read lots of books, and just like those who travel a lot, their minds have an opportunity to be broadened.
However, I seldom travel. But if I did, I would try to get to know my surroundings and join in as much as possible with the local culture.
Most people who read a lot, and that I know personally, do so for pleasure (the same applies to the TV programs and films they watch).
However, we are talking (oh well writing), here about educating ourselves on a subject we care about. I am not disagreeing with the concept that trying to take up too many ideas from any form of media can be confusing and counter productive - just as using too many indicators to inform our trading strategy can be.
The big lessons from "Reminiscences of a Stock Operator" are that even the best get it wrong, disasters lead to understanding, be prepared to put your money where your beliefs are, don't be swayed by those who don't have your best interest at heart, and many other things. The big lessons from the film (movie) "The Big Short", are that just because an organisation is a household name doesn't mean you should trust the people running it, nor that they in any way understand what it is they are running, politics is stronger than truth (well at least for a while), and even though you know what the true trajectory of the market will eventually be, you have no idea how long it will take to move in that direction.
My advice is to read and watch for knowledge and understanding, not to decide what kind of trading strategy you will adopt.