Simple But Not Easy: An Autobiographical and Biased Book About Investing

Richard Oldfield

Sep 2011 · Harriman House Limited

About this ebook

Described by the author as "a slightly autobiographical and heavily biased book about investing", Simple But Not Easy has plenty of interest to the experienced professional, and is aimed also at the interested amateur investor.

The theme of the book is that investment is simpler than non-professionals think it is in that the rudiments can be expressed in ordinary English, and picked up by anybody. It is not a science. But investment is also difficult. People on the outside tend to think that anyone on the inside should be able to do better than the market indices. This is not so. Picking the managers who are likely to do better is a challenge.

Richard Oldfield begins with a candid confession of some of his worst mistakes and what they have taught him. He discusses the different types of investment, why fees matter, and the importance of measuring performance properly. He also outlines what to look for, and what not to look for in an investment manager, when to fire a manager, and how to be a successful client.

Ratings and reviews

This is an outstanding read. And with good lessons that are seldom well appreciated. Personally, it summed some of my personal experiences. Reading it gave me a good reflection of how i did in life and money management. The account provided by Richard is simple and accessible to readers of all backgrounds. Certainly a good appetitiser before heading for denser books.

About the author

Richard Oldfield is chief executive of Oldfield Partners LLP, which manages equity portfolios for families, trusts, charities, endowment funds and pension funds with an approach the firm describes as long-only, concentrated, value-focused, and index-ignorant.