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    When investing in a stock, invest not just money but also your time doing this

    Would you rather eat a dish made by someone who has been cooking for years or someone who has just bought a book of recipes? It’s an easy choice to make.

    Synopsis

    Before you invest in a business, read about it as much as you can and try to gather an in-depth understanding of it. All businesses are a progression. Knowing what happened in the past helps you understand not just that business but all other businesses.

    In some of my last few columns in these pages, I had been on a sort of Buffett-and-Munger roll, quoting and expounding on the wisdom on offer in a recent video and letter. The video is the annual shareholders’ meet of a small company named Daily Journal and the letter is of course the annual letter to the shareholders of Berkshire Hathaway from Chairman Buffett.This time, I have a gem from Charlie Munger which is about business school curricula
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    The Economic Times