The Joys of Compounding: The Passionate Pursuit of Lifelong Learning, Revised and Updated
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- Create Date：2021-05-18 10:52:56
- Update Date：2025-09-06
- Status：finish
- Author：Gautam Baid
- ISBN：0231197322
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Summary
Value investing is not just a system for success in the market。 It is also an intellectual toolkit for achieving a deeper understanding of the world。 In The Joys of Compounding， the value investor Gautam Baid builds a holistic approach to value investing and philosophy from his wide-ranging reading， combining practical approaches， self-cultivation， and business wisdom。
Distilling investment and life lessons into a comprehensive guide， Baid integrates the strategies and wisdom of preeminent figures whose teachings have stood the test of time。 Drawing on the work of investing greats like Warren Buffett， Charlie Munger， and Ben Graham， as well as philosophers and scholars， he artfully interweaves the lessons learned from his many teachers。 Baid demonstrates their practical applications in the areas of business， investing， and decision making and also shows that these ideas can be applied to one's own life with just as much reward。
A celebration of the value investing discipline， this book also recounts Baid's personal experiences， testifying to his belief that the best investment you can make is an investment in yourself。 The Joys of Compounding offers curated reflections on life and learning for all investors， investment enthusiasts， and readers seeking a dose of practical wisdom。
This revised and updated edition highlights Baid's distinctive voice。
Distilling investment and life lessons into a comprehensive guide， Baid integrates the strategies and wisdom of preeminent figures whose teachings have stood the test of time。 Drawing on the work of investing greats like Warren Buffett， Charlie Munger， and Ben Graham， as well as philosophers and scholars， he artfully interweaves the lessons learned from his many teachers。 Baid demonstrates their practical applications in the areas of business， investing， and decision making and also shows that these ideas can be applied to one's own life with just as much reward。
A celebration of the value investing discipline， this book also recounts Baid's personal experiences， testifying to his belief that the best investment you can make is an investment in yourself。 The Joys of Compounding offers curated reflections on life and learning for all investors， investment enthusiasts， and readers seeking a dose of practical wisdom。
This revised and updated edition highlights Baid's distinctive voice。
Reviews
Matt Kuntz
，
Excellent book。 I work in a field far removed from value stock picking。 This book has lessons for everyone。
Praveen
，
This review has been hidden because it contains spoilers。 To view it， click here。 My key takeaways: 1。 Importance of reading and making it a lifelong habit。 If you read 25 pages a day， you will read 10，000 pages a year。 Buffett and Munger read 500 pages on an average day。 Reading helps identify patterns。 2。 Importance of humility & simplicity。 Character is how you treat others when you have the ultimate power3。 Importance of delayed gratification。 Buffet's 90% wealth was made after he turned 50。 Importance of Frugality - Wealth consists not in having great possessions， but in My key takeaways: 1。 Importance of reading and making it a lifelong habit。 If you read 25 pages a day， you will read 10，000 pages a year。 Buffett and Munger read 500 pages on an average day。 Reading helps identify patterns。 2。 Importance of humility & simplicity。 Character is how you treat others when you have the ultimate power3。 Importance of delayed gratification。 Buffet's 90% wealth was made after he turned 50。 Importance of Frugality - Wealth consists not in having great possessions， but in having few wants。 4。 Intelligent investing is all about understanding the intrinsic value and the margin of safety。 5。 Cyclicals and Spin-offs for value creation。 The Graphite case example and how it fueled my entry My Tata steel / SAIL / Hindalco。 Understanding the risks involved and how to play it safe。 6。 Portfolio management。 Always look at history and do not try to predict the future。 Howard Marks example of a gambler who bet on a single horse thinking how he could lose？ Horse jumps the fence。 Learn from history。 7。 Always be open to update your beliefs in the light of new evidence。 8。 Assess the competitive edge/moats， pricing power， management efficiency， ROCE， and ROE of companies。 9。 Acknowledge the role of luck， chance， serendipity， and randomness。 10。 Compounding Wealth， Knowledge， Health， and positive thoughts。 。。。more
Christian Poulsen
，
The book is okay and will work perfect when I need something refreshed。 However， I find it rather repetitive at times that why I can only give i 3 stars
Prasad Rapaka
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It's the wisdom of investment Gurus in a capsule。 It's the wisdom of investment Gurus in a capsule。 。。。more
Snehal Damke
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A modern investing classic and must read for everyone。 It not only dwells in investing but gives out great nuggets of wisdom of compounding in all walks of life。。。。superior book ！！
Michelle T
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“We spend a lot of time focusing on compounding our financial capital， but we overlook the fact that social and intellectual capital also compound。 Investing in yourself， in your relationships， and in your understanding of the world pays massive dividends over time。”It feels like this book came to me at a very appropriate time of my life。 Inhale blessings。 Exhale gratitude。 I learnt a lot here about how to look at businesses and investing （some good reminders about key metrics， transaction and b “We spend a lot of time focusing on compounding our financial capital， but we overlook the fact that social and intellectual capital also compound。 Investing in yourself， in your relationships， and in your understanding of the world pays massive dividends over time。”It feels like this book came to me at a very appropriate time of my life。 Inhale blessings。 Exhale gratitude。 I learnt a lot here about how to look at businesses and investing （some good reminders about key metrics， transaction and business types）， but most importantly， how to translate these practices into the core of life。 I enjoyed the use of quotes and the concise synthesis of some of the greatest thinkers and leaders of the world as well。 Finding myself often nodding， highlighting and sharing excerpts with friends and family， I definitely hope to share this book with more people。 （My only caveat that is that， if you are already very familiar with the works of Marks， Munger， Buffet， then this may be too elementary or too much of an introductory / beginners module for you。） 。。。more
Fedmar
，
Full of Wisdom and Experience These book gives you Gautam investing experience which is really eye opener and add tons of value in your journey of investing。 I do suggest to include in these book how he make his valuation for the business by applying Buffetts principles。 Recommended for new investors
Wayne Jones
，
Good idea but badly needs an editorThere were some good ideas rehashed in here， nothing original。 The book is so badly in need of an editor and bit all over the place， so I was skimming from half-way through。 Great bibliography and so the author has done a good job of listing nearly every book someone who wants to drill down on this area would ever need。
Riju
，
If you are not interested in the financial sector， then the best way to read the book is to read the "Conclusion " chapter first。 Then start reading from the beginning。 The " Conclusion" chapter would provide you with instant gratification （ which ironically， the book is totally against to ！！！）。The book could have done away with a few chapter to suit the title。I am sure of reading this book again or reading the selective part which I have marked。 If you are not interested in the financial sector， then the best way to read the book is to read the "Conclusion " chapter first。 Then start reading from the beginning。 The " Conclusion" chapter would provide you with instant gratification （ which ironically， the book is totally against to ！！！）。The book could have done away with a few chapter to suit the title。I am sure of reading this book again or reading the selective part which I have marked。 。。。more
Vishal Shah
，
Must Read ！！！It's one of the best investment & self help books that I have read till date。 The book talks about varied subjects such as how to compound in every aspects of one's life be it on investments， acquiring knowledge， health & so on - essentially to make one's life enriching and rewarding。 I took my own sweet time to read through this book， because each chapter of the book has something profound to say and imbibe in one's life。 It's one of the rare books that I would read again & again。 Must Read ！！！It's one of the best investment & self help books that I have read till date。 The book talks about varied subjects such as how to compound in every aspects of one's life be it on investments， acquiring knowledge， health & so on - essentially to make one's life enriching and rewarding。 I took my own sweet time to read through this book， because each chapter of the book has something profound to say and imbibe in one's life。 It's one of the rare books that I would read again & again。 I thank Gautam for his hard and sincere work on this book。 。。。more
Vishal
，
It's one of the best investment & self help books that I have read till date。 The book talks about varied subjects such as how to compound in every aspects of one's life be it on investments， acquiring knowledge， health & so on - essentially to make one's life enriching and rewarding。 I took my own sweet time to read through this book， because each chapter of the book has something profound to say and imbibe in one's life。 It's one of the rare books that I would read again & again。 I thank Gauta It's one of the best investment & self help books that I have read till date。 The book talks about varied subjects such as how to compound in every aspects of one's life be it on investments， acquiring knowledge， health & so on - essentially to make one's life enriching and rewarding。 I took my own sweet time to read through this book， because each chapter of the book has something profound to say and imbibe in one's life。 It's one of the rare books that I would read again & again。 I thank Gautam for his hard and sincere work on this book。 。。。more
Tirath
，
A great beginners book on value investing and its various facets。In fact， it's quite a good book that compiles a lot of models and disciplines that need to be worked on when one is on the journey of long term investing。 A great beginners book on value investing and its various facets。In fact， it's quite a good book that compiles a lot of models and disciplines that need to be worked on when one is on the journey of long term investing。 。。。more
Vishal
，
Compendium of wisdom on life and investingThis book goes right up on my "Books to Gift" list。 Gautam compiles wisdom from various sources and intermixes them with his own life examples。 A good read and a better re-read。 Compendium of wisdom on life and investingThis book goes right up on my "Books to Gift" list。 Gautam compiles wisdom from various sources and intermixes them with his own life examples。 A good read and a better re-read。 。。。more
Asif
，
I have read a lot of investing books in the last decade。 As a result， I am very picky about reading further books on investing as often time there is repetition。 I think I was pleasantly surprised reading this book。 Somehow Gautam managed to put a lot of useful material that was new for me。 Whenever I find myself highlighting large parts of a book I come to the conclusion that it was worthwhile reading the book。 He has borrowed heavily from Munger， Buffett， and other knowledgeable people but met I have read a lot of investing books in the last decade。 As a result， I am very picky about reading further books on investing as often time there is repetition。 I think I was pleasantly surprised reading this book。 Somehow Gautam managed to put a lot of useful material that was new for me。 Whenever I find myself highlighting large parts of a book I come to the conclusion that it was worthwhile reading the book。 He has borrowed heavily from Munger， Buffett， and other knowledgeable people but meticulously gave references to the sources。 Overall a strongly recommended book for avid investors。 。。。more
Lauren Murrell
，
I was sent this book as a gift and it was brilliant - I have highlighted so many sections！ Incredible words of wisdom and insight that I’m sure I’ll be referring to for many years to come。 Thank you Gautam！
Yash
，
It was more of an ode to Charlie munger and Warren buffet。 Both of them and some of the good investors are really "hard-sold" to me。 I don't like hard-sells， it means there are no surprises with the product。 It was more of an ode to Charlie munger and Warren buffet。 Both of them and some of the good investors are really "hard-sold" to me。 I don't like hard-sells， it means there are no surprises with the product。 。。。more
Ramaswamy
，
I spent a lot of time reading this book （from January 8th when I started to February 17th when I finished）。 There is a lot of curated work - mostly quotes from Munger and Buffett and a lot of advises and suggestions， unfortunately original ideas are few and far between。 I wish Mr。Baid had focused more on detailing his experiences， him being an accomplished investor。 The book sparkles in the few areas where he addresses his experiences in investing in Indian market。Mr。Baid had a great opportunity I spent a lot of time reading this book （from January 8th when I started to February 17th when I finished）。 There is a lot of curated work - mostly quotes from Munger and Buffett and a lot of advises and suggestions， unfortunately original ideas are few and far between。 I wish Mr。Baid had focused more on detailing his experiences， him being an accomplished investor。 The book sparkles in the few areas where he addresses his experiences in investing in Indian market。Mr。Baid had a great opportunity - a confluence of knowledge， experience and communication skills， where he could have written a book on investing in India。 The country has evolved significantly over the last twenty years， and Mr。Baid was in the market in almost 15 of them。 The last twenty years has seen a mega crash and multiple mini bull markets。 There is a lot of human interest stories out here many of which he will be privy to。 That would have been a heck of a book。Mr。Baid read and referred a number of books and articles while researching this book。 The bibliography is impressive。 I have read some of the books that he refers in the book， most of them over the last two years。 So the only areas that added value to me are his personal experiences。 I found the section on 'being an empathetic investor' very useful。There is no doubt that Mr。Baid writes well。 I hope he writes the next book from his heart rather than from his head。。。。 。。。more
Nishith
，
Wonderful book ！！ Must read for value investors。
Milind Pawar
，
Mr Baid is one of the most well read person I have ever come across and the same is reflected into his writing style as well。~40% of the book is quotes/summary from his favourite authors， investors - Buffet， Munger， Lynch， Fischer etc。 One can find great book recommendations in every chapter。Mr Baid has briefly covered his own investing journey in Indian markets as well （really interesting if you follow Indian markets）Felt a little verbose at times but overall a good read。
Renato
，
Fenomenal！ This book goes far beyond investing and business。 One of the best I’ve read till now。
Rajesh BATTULA
，
A comprehensive book on investing， covers many topics including the power of learning， creations good habits， valuing stocks etc。 It is a good book especially with Indian stock Market perspective。 As there are very few of them on Indian markets。
Sahil
，
The author did good in compiling the resource in one place that every investor should know。 Really commendable。 I am personally trying to follow the concepts in the life。But it feels like there is not a proper narrative here。 Things are just copy pasted from Buffet， Charlie Munger or some other famous investor's words， the book is more of a collection of quotes of who said what about a particular topic。 The author doesn't seem to have his own view point。 The points described are simple and basic The author did good in compiling the resource in one place that every investor should know。 Really commendable。 I am personally trying to follow the concepts in the life。But it feels like there is not a proper narrative here。 Things are just copy pasted from Buffet， Charlie Munger or some other famous investor's words， the book is more of a collection of quotes of who said what about a particular topic。 The author doesn't seem to have his own view point。 The points described are simple and basic， but the author in trying to make it comprehensive is actually making the things boring by endlessly repeating the same things over and over again。 。。。more
Archana Asok Nair
，
I’m quite new to investing and had been on a break from reading personal growth books。 So reading this book was refreshing。 This was like a complication of lessons on investing and life in general。 A nice reminder on basic principles。 But if you’re a prolific reader of Warren Buffet’s shareholding letters， already read Benjamin Graham’s Intelligent Investor and a fan of Naval Ravikant， Charlie Munger; you don’t need this book。
Amit Ranjan
，
Must have book if you want to learn value Investing， mindset to be rich， Gautam Baid gave it all in this book whatever he learnt from the market。 One needs to read it multiple times to get maximum learning out of it
Navdeep Pundhir
，
Part good， part great， part pretty bad。
Srinivas D
，
This a summary of more than 100+ books。 A very honest and forthright self actualization of Gautam
Udit Srivastava
，
The Joys of Compounding is a wonderful book of books。 It distills the ideas and the wisdom of the giants like Charlie Munger， Warren Buffet， Daniel Kahneman and others into a beautiful book on investing。 The book is a long but beautiful read which encompasses a wide range of ideas ranging from circle of competence and it's expansion by reading， margin of safety， the nature of markets， patience， individual thought process and of course the power of compounding in almost every aspect of life and n The Joys of Compounding is a wonderful book of books。 It distills the ideas and the wisdom of the giants like Charlie Munger， Warren Buffet， Daniel Kahneman and others into a beautiful book on investing。 The book is a long but beautiful read which encompasses a wide range of ideas ranging from circle of competence and it's expansion by reading， margin of safety， the nature of markets， patience， individual thought process and of course the power of compounding in almost every aspect of life and not just investing。 Wonderful book to end the year with。Buy Right & Sit Tight :）Happy New Year！！ 。。。more
Ashok Talapatra
，
The last chapter and conclusion are the best。
Karan
，
The book has mainly all the quotes from Buffet ， Munger ， Taleb etc。 Very commercily written to satisfy all types of investor and trader community。 It doesn't add any value and doesn't give any perspective。 Lots of contradiction。 The book has mainly all the quotes from Buffet ， Munger ， Taleb etc。 Very commercily written to satisfy all types of investor and trader community。 It doesn't add any value and doesn't give any perspective。 Lots of contradiction。 。。。more
Siddhartha Jain
，