We look forward to meeting you all on campus. We appreciate your excitement for investing. Many of you have reached out for advice on how to prepare for business school and investment management. We recommend that you take advantage of your free time before school starts.
We recognize that each of you are coming from different backgrounds. We have provided a carefully chosen and broad reading list. This list is based on conversations with current students and what they found most helpful for coursework and recruiting. We have broken down the list into three buckets:
Introduction to Value Investing: These are what you absolutely need:
· The Intelligent Investor (Benjamin Graham)
· Margin of Safety (Seth Klarman)
· Value Investing: From Graham to Buffett and Beyond (Bruce Greenwald)
· Graham and Doddsville Value Investing Website
Conducting Research & Presenting your Idea: This is especially important as you ramp up to prepare for interviews
· How to Pitch the Perfect Investment (Paul Sonkin & Paul Johnson)
· The Investment Checklist (Michael Shearn)
Assessing Business and Management Quality
· Competition Demystified (Bruce Greenwald)
· The Outsiders: Eight Unconventional CEOs and Their Radically Rational Blueprint for Success (William N. Thorndike)
Value Investing Legends
· The Essays of Warren Buffett: Lessons for Corporate America (Warren Buffett and Lawrence Cunningham) or Berkshire Hathaway Shareholder Letters
· Money Masters of Our Time and New Money Masters of Our Time (John Train)
· Buffett: The Making of an American Capitalist (Roger Lowenstein)
In addition to books, it is paramount for you to stay abreast of the latest issues within investment management and finance. Traditionally, following the news was the only way. However, we are adding podcasts to this list:
Here are a few notable (by no means exhaustive) news outlets to get you started:
· Wall Street Journal, Barron’s and Financial Times (MBA students have access to FT Subscription)
· The Economist
Here are a few notable (by no means exhaustive) podcasts get you started:
· Value Investing with Legends (Heilbrunn Center at Columbia Business School)
· Invest like the Best (Patrick O'Shaughnessy)
· Capital Allocators (Ted Seides)
There are many other great books/articles on investing, behavioral psychology, and investor biographies that we have not mentioned. An additional list can be found at Heilbrunn Center for Graham & Dodd Investing
At Columbia Business School, there will be monthly Investment Ideas Club meetings to give you an opportunity to pitch in front of investment professionals. The first meeting begins in mid-September. Given how busy your schedule will be once school starts, we recommend preparing one or two investment write ups before you begin. Sample student write-ups can be found in recent Graham and Doddsville Newsletters. Other examples can be found on Value Investors Club and SumZero.
Speak to as many alumni and practitioners to learn about the job and get advice they have prior to business school.
If you have additional questions, feel free to reach out to one of our club's officers.