“In my whole life, I have known no wise people who didn’t read all the time — none, zero. You’d be amazed at how much Warren reads–and at how much I read. My children laugh at me. They think I’m a book with a couple of legs sticking out.” – Charlie Munger, Berkshire Hathaway
I’ve asked the Pure Portfolios team to provide a list of 3-5 influential books they’ve read in 2023, along with a brief description or takeaway.
If you’re looking for your next book to read, this list could provide your next great journey (or maybe a gift idea for a friend or loved one!).
Nik Schuurmans
Same as Ever by Morgan Housel: Every economic boom & bust cycle has its own characteristics (Great Financial Crisis, tech bust, COVID), but the human response is quite predictable. Housel breaks down common behavioral quirks that seem to repeat cycle after cycle. In my opinion, understanding human emotion is an asset for successful investors.
Clear Thinking by Shane Parrish: Mr. Parrish takes his experience working for a U.S. intelligence agency and outlines how to improve your position to make better decisions. Anyone looks like a genius when they’re in a good position, and even the smartest person looks like an idiot when they’re in a bad one.
Die with Zero by Bill Perkins: We’re conditioned to save and invest for a rainy day, but can accumulating financial resources go too far? Mr. Perkins makes the case we should be looking for opportunities to convert money into life experiences before it’s too late to enjoy the fruits of our work. This book changed the way I view my own retirement and financial planning.
The Rise and Fall of the Third Reich by William L. Shirer: Historian William L. Shirer spent almost six years sifting through classified Nazi documentation. The result is the most comprehensive record of one of the darkest periods for mankind. I wanted to read the ~1200-page book because I couldn’t comprehend how such a travesty could unfold (by the end of the book, I might have been more frustrated and confused).
Erin Varghese
This year my reading list got a makeover thanks to the CFP exam prep in the first half of the year. I swapped out my usual personal development books to explore new genres. Reading became a brain vacation!
One True Loves by Taylor Jenkins Reid: Emma Blair faces an unexpected dilemma when her presumed-dead husband reappears just as she’s about to remarry. This book explores the complexities of love and choices as Emma navigates between her past and present, questioning the nature of true love.
Ward D by Freida McFadden: The story follows medical student Amy Brenner, who is forced to spend the night on the locked Ward D, a place that holds a terrible secret. As the night progresses, Amy becomes increasingly convinced that something sinister is happening within the walls of the unit.
Never Lie by Freida McFadden: This is a comedic novel that follows the misadventures of newlyweds looking for their first home. When they visit the secluded house that previously belonged to Dr. Adrienne Hale, a prominent psychiatrist who vanished without a trace four years ago, a terrible winter storm locks them at the estate with no way out until the snow passes.
The Inmate by Freida McFadden: This is a psychological thriller about a single mother who returns to her hometown in the aftermath of her parents’ death. Memories of her past begin to haunt her when she takes a job at the federal prison where the father of her child, who once tried to kill her, is serving a life sentence for a triple homicide.
It Ends with Us Series by Colleen Hoover: The novel tells the story of Lily Bloom, a young woman from an abusive home who struggles to find her way in the world without recreating the patterns of violence from her youth. Moving between Lil’s present and diary entries from her adolescence, the novel explores the complex nexus of love and abuse.
Toby Weber
Unscripted: The Epic Battle for a Media Empire and the Redstone Family Legacy by James B Stewart and Rachel Abrams: An interesting book about Paramount, the Redstone family and other media elites, and the back-room machinations over control that reads like an extended episode of “Succession”.
Gambler: Secrets from a Life at Risk by Billy Walters: A book about infamous Las Vegas gambler Billy Walters, his life story, and his many failures and subsequent redemption as one of the most successful gamblers of our time.
The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend by Rob Copeland: A behind-the-scenes look into the culture, leadership, and “principles” of one of the largest hedge funds on the planet.
Colin Purcell
I haven’t read many books this year, but two of them I’ve added to my all-time favorites.
Old Poets by Donald Hall: Donald Hall recounts professional connections littered throughout his career including Robert Frost, Dylan Thomas, and Ezra Pound. The recounting of unique lifelong relationships held with each poet culminates in a reflection on how a body of work can define, constrain, and outlive its author.
How to do Nothing by Jenny Odell: This is a practical look at finding time for mindfulness and spaces that allow you to feel free from a world designed to constantly rob you of your attention. My biggest take away is now having a differentiating view on my attention and how its value to me will always outweigh others that try to monopolize it. This book has me creating healthier habits and mindsets about who and what receives my attention.
I also enjoyed:
Astoria by Peter Stark
Indian Legends of the Pacific Northwest by Ella Clark
Japanese Death Poems by Yoel Hoffmann
Julie Johnsen
I have read 40 books this year – so it was hard to narrow it down. Here are a few that stood out to me…
Hamnet by Maggie O’Farrell: Set in Stratford, England, in the late 16th century, Hamnet imagines the emotional, domestic, and artistic repercussions after the world’s most famous (though never named in the book) playwright and his wife lose their only son to the bubonic plague.
The Great Circle by Maggie Shipstead: Interweaves two timelines – one tells the story of a daredevil female aviator determined to chart her own course in life, at any cost and the other follows an actor who attempts to make a film about the aviator’s life in the modern day.
The Vaster Wilds by Lauren Groff: The story of a servant girl that escapes from a colonial settlement during a deadly winter of starvation and disease. She carries nothing with her but a few possessions, the determination to survive, and the spark of god.
Remarkable Bright Creatures by Shelby Van Pelt
Harlem Shuffle by Colson Whitehead
I’m Glad My Mom Died by Jennette McCurdy
Tim Metz
The Escape Artists by Neal Bascomb: Told through firsthand accounts and memoirs, the Escape Artists tells the true stories of groups of Allied POWs in World War I who masterminded daring and ingenious plans to escape from multiple German prison camps. These stories are full of courage, resilience, and the relentless pursuit of freedom.
Free to Choose by Milton Friedman: Nobel laureate economist Milton Friedman presents his view on the crucial role of individual freedom in securing and maintaining a free society. Friedman offers a strong defense of free market principles and a critique of government intervention in the economy. Friedman is always thought provoking, and I enjoy reading alternative perspectives on practical applications of economic theories.
Ascent of Money by Niall Ferguson: Ferguson traces the evolution of money and financial systems across global history, taking you on a fascinating journey through the history of money and finance, revealing how our financial systems have evolved over centuries. He argues that money has been the primary driving force behind every type of progress. It’s a detailed but digestible account of something as commonplace as money, something that plays such a frequent role in our lives that we often forget to ask how it came to be.
How Asia Works by Joe Studwell: Studwell explores the reasons behind the economic success of some Asian countries and the failure of others. How Asia Works provides an incisive analysis of the three main developmental elements – land policy, manufacturing, and finance – that have shaped Asia. It’s a must-read for anyone interested in understanding the economic dynamics of both emerging markets and developed ones in one of the world’s most diverse regions.
Chasing the Cup by James Spithill: This autobiography invites you into the world of professional sailor James Spithill. Spithill candidly shares his personal and professional experiences of his lifelong obsession with the America’s Cup, including the greatest comeback in sailing (and perhaps sporting) history. As an avid sailor, it’s an inspiring read that highlights the thrill and challenges of the America’s Cup journey.
This will be the last blog & Sunday Coffee Reads newsletter in 2023. The regular schedule will resume in 2024.
Pure Portfolios wishes all of our clients, partners, and readers a wonderful holiday season!
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