Conclusion

This brings an end to this book. The book is a gold mine for beginners as it equips them with the most important attribute of being successful in the investment game, which is temperament. The book makes us understand various biases that we knowingly or unknowingly commit. The best part is that it also instructs us as to how to deal with them. In the later part of the book, the author advises us to invest in mutual funds that are close-ended and keep ourselves safe from bubbles. Taking risks in stocks (by carefully picking up the best ones) is the best strategy to beat inflation if your holding period is 5 years or more.

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