Summer Reading List….

Despite the relatively mild winter in Chicago (our home base), Chicagoans always greet summer in near fanatical fashion. For me it’s a time to be outdoors as much as possible and catch up on some reading. We put out a reading list some time ago and figured we’d update with a few other entries on investing and science/medicine in general.


The Little Book of Common Sense Investing by John C. Bogle.

The little book series is a big hit in my opinion. Various authors in the area of finance and investing have contributed to the publication of small concise books on a variety of investing topics. Bogle is the founder of the $4 trillion Vanguard Group—the outfit that started the indexing revolution. But Bogle also drives home how important costs are in the investment process. His mantra: “Costs matter.” He shows you how to avoid heavy fees and expenses and the effect that those fees have on long term investment returns. The book can be read on a flight from to Chicago to Los Angeles. It will be one of the best investments you will make.


The Millionaire Next Door by Thomas Stanley and William Danko

The classic book that illustrates how feasible it is to accumulate a million in assets. The premise, your typical millionaire spends below his means, doesn’t typically buy $1,200 suits and $12,000 Rolex watches and avoids excessive debt. The book is not about excessive frugality, but common sense items in the area of investing, spending and lifestyles. It’s an easy read… fun… and I once taught a retirement seminar on the book and it was very well received. When you finish that off, you can read the sequel The Millionaire Mind also.


The Gene: An Intimate History by Siddhartha Mukherjee.

Mukherjee also wrote The Emperor of All Maladies—a History of Cancer. It won a Pulitzer prize and its my favorite book on the topic of science and medicine. I have just started reading it and it’s fascinating. This will take you a bit more time to read, but you will be educated on a subject that is transforming medicine and science at a very rapid pace. The underlying basis of many diseases is now thought to be wrapped up in our DNA. It’s a great read and I think it will help us understand the genetic basis of disease and possibly steer us toward companies that are transforming genetics.


The Snowball: Warren Buffett and the Business of Life by Alice Schroeder

One of the top three books about Buffett. Actually, you should read all three books on Warren Buffett as he is the greatest investor of all time. No one is close. The other two are: Buffett: The Making of an American Capitalist by Roger Lowenstein and The Warren Buffett Way by Robert Hagstrom


Enjoy the summer by investing some of your time relaxing and reading!

Dave Lerman / Jodie Warner

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