I've come to realize something about information over the past several years: There's no substitute for good, quality journalism. Good journalism can provide you would some excellent information that you can't find anywhere else -- and a good book is even better, like getting good journalism on steroids.
While I'm always reading a book (or two or three), many folks have set aside books these days in favor of tweets, social media and Web surfing. To be sure, the Internet is a marvelous thing, and my life is more productive because of it. But a good business book provides what the Internet can't -- an in-depth look into a subject or topic.
That's why I think reading books is an indispensable requisite to becoming a complete investor. So, "unplug" from your computer for a bit and consider some good offline reading.
Here are two suggestions of where to start:
A Look at 'Superforecasting'
The new book Superforecasting: The Art and Science of Prediction by Philip Tetlock is a great read for anyone with a serious interest in the stock market.
Everyone wants know what's going to happen tomorrow, especially investors. But this book confirms that most "expert" forecasters are really doing no better than making random guesses into the future.
However, Tetlock also writes that a few forecasters have demonstrated a keen ability to make legitimate, accurate forecasts more often that not.
How Blackberry Soured
Perhaps nothing is more important to successful investing that learning about business failure.
Losing the Signal: The Untold Story Behind the Extraordinary Rise and Spectacular Fall of Blackberry by Jacquie McNish and Sean Silcoff is an excellent case study into an epic rise and fall of Blackberry (BBRY). It's a must read for anyone interested in how a seemingly insurmountable business can become so irrelevant seemingly overnight.
The Bottom Line
My advice -- disengage from the minute-to-minute data feeds for a while and expand your mental models courtesy of these two excellent books.