What I Learned About Investing from Darwin by Pulak Prasad #Audiobook

What I Learned About Investing from Darwin by Pulak Prasad #Audiobook

The investment profession is in a state of crisis. The vast majority of equity fund managers are unable to beat the market over the long term, which has led to massive outflows from active funds to passive funds. Where should investors turn in search of a new approach?

“The greatest mistake an investor can make is to compromise on the quality of businesses”

Pulak Prasad offers a philosophy of patient long-term investing based on an unexpected source: evolutionary biology. He draws key lessons from core Darwinian concepts, mixing vivid examples from the natural world with compelling stories of good and bad investing decisions―including his own. How can bumblebees’ survival strategies help us accept that we might miss out on Tesla? What does an experiment in breeding tame foxes reveal about the traits of successful businesses? Why might a small frog’s mimicry of the croak of a larger rival shed light on the signs of corporate dishonesty?

Here’s what this book’s gonna teach you:

• Survival over Profit: Prioritising risk management over chasing profits to ensure long-term success.

• Quality Matters: The importance of investing in high-quality, ethical businesses with sustainable competitive advantages.

• Patience: Knowing when to act and when to stay put, as sometimes doing nothing is the best choice.

• Avoiding Big Risks: Minimise exposure to major risks that could result in permanent capital loss.

• Continuous Learning: Recognising what you don’t know and avoiding dangerous uncertainties.