Pending books

1. Security Analysis, on going, 1st time.

2. Microsoft SQL Server 2008 T-SQL Fundamentals,  half through, pending, 1st time.

3. Lords of Finance,  first chapter read, currently pending, 1st time.

4. The Collapse of Complex Societies, first chapter read, pending, 1st time.

5. The Creation, half through, on going, 1st time.

6. Techniques of  Management Accounting, first chapter read, pending, 1st time.

7. Accounting Information Systems- Control and Process, first chapter read, pending, 1st time.

8. Accounting: Text and Cases(Part II, Management accounting) , , pending, 1st time.

9. OCA Oracle Database 11g: SQL Fundamentals I Exam Guide ( Exam 1Z0-051), pending, 1st time.

————————

Incoming / on the way:

1. Law 101, bought from Amazon.cn

2. Life in Cold Blood(DVD)

on earning trends

There are several reasons
why we cannot be sure that a trend of profits shown in the past will continue
in the future. In the broad economic sense, there is the law of diminishing
returns and of increasing competition which must finally flatten
out any sharply upward curve of growth. There is also the flow and ebb
of the business cycle, from which the particular danger arises that the
earnings curve will look most impressive on the very eve of a serious
setback.

            — Security Analysis

Hard times

The reading experiences as well as my ability of understanding chapters I read for these couple of days were more and more unsatisfactory.

But I think the logic thought by the authors are quite apparent, as noted by the structure of the entire book, fixed-value investment first, and then common stocks, etc. From the authors point of view we can see that they are assuming that the difficulties of analyzing the covered securities are of gradually deepening. That is, they think bond and preferred stocks are more easier to analyze than common stocks, just my thought on that, they may differ in their actual thought.

 

If so, I encountered so many difficulties right now on the latter chapters starting from 15, how can I imagine that the incoming chapters will be easier to digest?

But anyway, maybe a full coverage reading is an essential part in the whole learning process, even though the percentage you can understand vary, that maybe also be the reason for when it comes to the masterpieces, you ought to read it multiple times.   Anyway, it is not a bestseller or an easy cartoon book which you can enjoy with music on and chatting with your net pal simultaneously.

Maybe that is a sure thing that there’s something you don’t fully understand or don’t understand at all. Let’s say, you can understand 30% literally in your first reading of the book, and gradually, after awhile, also accompanying the improvement in your own personal expertise on that field, the second time you read it may you gain a understanding of 50%.

Just like the old Chinese saying:

“Acquire new knowledge whilst thinking over the old, and you may become a teacher of others.”

                       —Confucius

 

Just keep reading, even without any understanding, ha-ha, ain’t that stupid?

Might be, might not be.

Stockholders vs. management officers

“It must never be forgotten that a stockholder is an owner of the business and an
employer of its officers. He is entitled not only to ask legitimate questions
but also to have them answered, unless there is some persuasive reason
to the contrary.”

                             —— Benjamin Graham