By Dr. Daniel Smith, WCI Columnist
I’m at the financial “age” now where the majority of the practicalities that I read regarding finance and investing are repetition, nearly rote. This is great news because it suggests I should be fairly competent to manage my own financial affairs. I am, however, much like a chief resident—replete with academic knowledge and well-studied didactic lessons but bereft of much practical experience, relatively speaking. In fact, much of the more practical medicine is learned either via admonitions from more experienced physicians or by one’s own professional trial and error. To prevent myself from the more injurious and fraught latter pathway to practical financial wisdom, I’ve been reading more books on financial history—including John Rothchild’s A Fool and His Money: The Odyssey of an Average Investor—and fewer on ideas and technical application.
Many of you readers are similarly experienced, and you can often guess how Jim will…
This article was written by Josh Katzowitz and originally published on www.whitecoatinvestor.com