Review: Invested: How Warren Buffett and Charlie Munger Taught Me to Master My Mind, My Emotions, and My Money

Invested: How Warren Buffett and Charlie Munger Taught Me to Master My Mind, My Emotions, and My Money by Danielle Town
My rating: 3 of 5 stars

I recently read Phil Town’s “Rule One”. In that book, Town repeatedly tells the reader that he has a simple system to pick winning stocks, but then describes the system using dozens of sub topics, optional research topics, and arcane history. Town’s one rule is actually a complex system, and while I enjoyed the way the system was presented, with history tied to famous value investors, it’s use seems quite time consuming.

I read this book, not initially understanding that this is a kind of walk thru of Town’s process, using his daughter as the voice. I found this much more compelling than Town’s original book. The process seems more reasonable when approached as a new investor, and in this case it doesn’t seem as involved. Mixed in with the story of learning how value investor’s invest is Danielle Town’s story – about her legal career and career re-think, her occasionally strained relationship with her father, and about moves. I enjoyed this book, even though I consider myself beyond this level of learning. I heard enough research suggestions that I can adjust my own process to add a few new ideas. In addition to investing books, I also enjoy books about entrepreneurs, and the story of how Phil Town, in effect, passes his business on to a daughter, was also quite interesting. It starts with the daughter being totally uninterested and uninvolved, but walks through her basic and advanced learning of his system, and her participation in an audio podcast on investing with her father. You can tell what happened at the end of the book, where you are given some advertisement for Danielle Town’s web site and investing services. The apple doesn’t fall far from the tree.


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