July 9, 2024
How (Not) to Lose $1 Million is full of surprises. Given it's a book aimed at people seeking to invest in shares and control their own portfolio or improve their current portfolio, you’d expect it to be dry and inaccessible. However, it’s surprisingly engaging and approachable. True to Addis’s aim to avoid jargon and industry terms, How (Not) to Lose $1 Million is filled with life and story, drawing from the premise that investing is not a science and that mistakes are made (and are important). The book’s structure also assists in its accessibility, broken up into the following sections (termed ‘categories of errors’): ‘Stocks we sold too late’, ‘Stocks we sold too soon’, ‘Stocks we should not have bought at all’, and ‘Stocks we should have bought but didn’t’. How (Not) to Lose $1 Million explores these areas through case studies and an unpretentious analysis of lessons learnt through the author’s (and his company’s) errors. Other strengths are the variety of case studies profiled, from Apple to Cochlear implants to mobile phone providers, the collection of essays in the appendix, and the thorough glossary of terms. At the end of the book, a novice will feel curious and equipped to start their portfolio, and an active investor will recognise and better understand their portfolio choices and mistakes. How (Not) to Lose $1 Million will appeal to fans of books on Warren Buffett and his investment approach.