The Schwar Report - Issue 9

Monday 14th October 2024

Welcome to this weeks edition of The Schwar Report, your weekly primer featuring three interesting reads, two thought-provoking quotes, and one actionable step to start your week on the right foot.

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Three Reads to Inspire Your Week

1. "The Black Swan" by Nassim Nicholas Taleb

   • Why read it: Taleb's work challenges our understanding of probability and risk, offering valuable insights for investors and decision-makers. The book explores the impact of rare and unpredictable events, emphasising the importance of robustness and adaptability in strategy.

2. "EssilorLuxottica (EL): This company has a clear vision" by

   Rijnberk InvestInsights

   • Why read it: This article provides an in-depth analysis of EssilorLuxottica, a global leader in the eyewear industry. It offers insights into the company's business model, competitive advantages, and growth prospects. The piece highlights EL's vertical integration, strong brand portfolio, and potential for market expansion, making it a valuable read for investors interested in long-term growth opportunities.

EssilorLuxottica (EL) – This company has an unparalleled moat (A Deep Dive)

3. "The Investment Genius of Sir John Templeton" by

   Graham-Quality Investor

   • Why read it: This piece explores the investment principles of Sir John Templeton, a pioneer in global investing. It offers timeless wisdom on value investing, contrarian thinking, and the importance of maintaining a global perspective in portfolio management.

The Investment Genius of Sir John Templeton

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Two Quotes to Reflect On

"The inability to predict outliers implies the inability to predict the course of history" — Nassim Nicholas Taleb

Reflection: This quote from "The Black Swan" reminds us of the limitations of forecasting and the importance of building resilient strategies that can withstand unexpected events.

"History does not crawl, it jumps" — Nassim Nicholas Taleb

Reflection: Another insight from Taleb, this quote emphasises the non-linear nature of progress and change, encouraging investors to be prepared for sudden shifts in markets and economies.

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One Action Step: Cultivate a Reading Habit

"I don't think you can get to be a really good investor over a broad range without doing a massive amount of reading. I don't think any one book will do it for you." — Charlie Munger

This week, challenge yourself to expand your knowledge through reading:

1. Choose a book on a topic that interests you, whether it's investing, business, or a completely different field.

2. Set aside at least 15-30 minutes each day to read.

3. Take brief notes on key ideas or insights you encounter.

4. At the end of the week, reflect on what you've learned and how it might apply to your investment strategy or personal growth.

Quick Tip: Start small and build consistency. Even if you can only manage a few pages a day, the habit of regular reading will compound over time, broadening your perspective and enhancing your decision-making skills.

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ICYMI

Check out our posts from the last week:

The Schwar Report - Issue 8

How to Filter Out Noise

[FREE] BAE Systems (BA.L) Equity Research Report

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That's it for this week's Schwar Report. As always, we're here to help you stay informed, grounded, and focused on your long-term success.

Have a great week,
The S.C. Team

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Disclaimer: The content provided in this newsletter is for informational purposes only and does not constitute financial, investment, or other professional advice. While we believe the information to be reliable, we cannot guarantee its accuracy. The opinions expressed are those of the author and do not necessarily reflect the views of Schwar Capital. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. The author may or may not hold positions in the stocks or other financial instruments mentioned. Always do your own research or consult with a qualified financial advisor before making any investment decisions.