Back in 2011, my parents bought this book for me knowing my interest for global macro investing (since Jim Rogers is known to be a pioneer in global macro), and I eagerly finished it as soon as I started reading it.
This book, according to Rogers, was originally intended as an article or a pamphlet for his daughters on advice for life and investing. Over the years, the essays that Rogers wrote were compiled and it formed an idea for a book.
Unlike his previous books where one either reads about his stunning adventures or on business/investment advice, readers used to Rogers’ style of writing will find that this book is uncharacteristically different.
Firstly, the perspective taken this time is Rogers writing and addressing to his daughters. The style and format is simple, and at the same time heartwarming as a loving father writing a letter to his children.
Secondly, the chapters are kept short and succinct. Some things that Rogers expounded in the book include:
- the importance of studying history and past trends
- practicing philosophy to train one’s critical thinking faculties (to question conventions and norms)
- the importance of travelling to open one’s mind to new things/change and to develop a global perspective of things
- trusting your own judgment after you did your homework (to prevent getting caught up in the herd)
- be persistent, work hard and never give up!
Thirdly, the book represents a collection of his own experiences, his mistakes, his attitude toward life. It basically summarizes certain good or bad incidents that Rogers went through that could either or not be found in his previous books – but with a personal thought to them.
Overall, it is a simple, succinct and easy read that can be finished in a few hours, and probably would be a good-starter for anyone interested in pursuing active investing!