Book Review: A Gift to My Children

A Father’s Lessons for Life and Investing is the subtitle of this book by the successful investor Jim Rogers. I picked up the book because I have, many times, thought to write something similar to my three boys – though not about investing. For me the stock market is a lottery to be avoided. There was not a lot of meat to the pototoes in this short book, but there is one thing that sticks out. It is a reminder of the Warren Buffet quote that one must not invest in something one doesn’t understand. Rogers, among other things, mentions the developing nations of the world and is not that pessimistic about Russia or India – surprisingly so. The lack of infrastrucutre and, especially in Russia, the lack of a stable justice system, do not bode well for the future. China, however, is investing in infrastructure and Rogers sees lots of potential for Brazil. The reminder, of course, is to investigate before you invest.

Rogers takes his own advice seriously and has moved his family to Singapore where his children can gain direct experience about the new economies and new possibilities in Asia. “Pay attention to what everybody else neglects.” “Know when not to do anything.” The more certain something is, the less likely it is to be profitable.” Recognize change and embrace it.” Yes, there are many pearls of wisdom here. It makes you think about how you educate your own children and how you broaden your own knowledge base about how the world works.