January 2020 – To kick off the new year, Scott Morrison’s book recommendation this month is The Battle for Investment Survival by Gerald M. Loeb.
An oldie but a goodie, Gerald M. Loeb’s The Battle for Investment Survival was published in 1935, not long after the 1929 stock market crash. This book holds a special place on my shelf since it was given to me by the founder of Mackenzie Financial in 1994, Alex Christ.
Mackenzie was where I started my career on Bay street out of university. On the inside cover Mr. Christ wrote to me a kind personal message “May the wisdom in this book lead you to a successful investment career.” The foreword of the book says “The author is a seasoned stock broker and the material in this book is distilled from over 40 years of experience in Wall Street.”
“Any earner who earns more than he can spend is automatically an investor.”
“The person who studies a problem from every angle and defines the risks, aims and possibilities correctly before he starts is more than half-way to his goal.”
“There is no such thing as a final answer to securities values.”