You’ve probably heard about a common denominator you’ll find among most smart people — Reading.
But all good ideas can be taken too far.
Although it helps us open up to new ideas & knowledge, but this can be equally dangerous if you’re reading anything and everything landing your way.
A filter is needed to channelise the content being consumed.
Sherlock Holmes said in The Study of Scarlet:
”The skillful workman is careful indeed as to what he takes into his brain-attic. It is a mistake to think that that little room has elastic walls and can distend to any extent. Depend upon it there comes a time when for every addition of knowledge you forget something that you knew before. It is of the highest importance, therefore, not to have useless facts elbowing out the useful ones.”
Therefore, it’s very much important to understand what one should not read. My top three things on no-read list are:
1- Political opinions conflating with investing.
2- Excessive length and unnecessary detail: Read enough books, and it becomes apparent that many books didn’t need to be books. They could have been articles, even short articles.
3- Lastly, time horizons that are far different from mine. For ex. 30 or 60 days technical analysis make no sense to me as my time frame for investing is much longer term. What we sometimes view as a difference in opinion is often just a difference in goals