The idea of writing a book did not come to me on my own. I was a little hesitant about putting my thoughts on paper because there is always the fear of the unknown when one tries doing something that he has never attempted to do before. Moreover, with so many books on investing there was always a challenge to create something new rather than just try and put in the old thoughts in a slightly modified fashion. However, on repeated persuasion from members of TheEquityDesk and from friends in the industry, I finally got down to becoming an author on a subject that isn't too popular with Indians. 

It has been a year since I started writing 'The Thoughtful Investor' and as it nears completion, I would like to acknowledge my thanks to the members of TheEquityDesk and Basant's Corner without whose efforts my ability to think beyond what is normal and conventional would never have been achieved. With close to 10,000 questions and answers, the ‘Ask Basant’ segment of Basant's Corner keeps me on my toes always. It has helped me think harder and also in formulating my thoughts on a consistent basis thus helping me evolve as a better investor, even as the process of learning remains endless and continues unabated all the time.

Some quotes in this book have been borrowed out of my answers at Basant's Corner and I am particularly thankful to a few members who have unilaterally compiled and sent me these selected answers so that I could use them in the process of writing the book. 

While there is a huge void for a comprehensive India centric investment book, the overall market for the same remains small and limited. Though there have been a few books written on the subject most of them are elementary, maybe because the addressable size of opportunity (we stock market guys love this phrase) isn't too much for a serious book.

Another reason for this could be the divorce between the practitioners and the writers. Most of the practitioners don't write and most of the writers don't practice which leaves the written mode of communication lacking for more. 

We are starting pre-order bookings in the next 3 to 4 days, details of which will be shared on this site as also on other social networking sites like twitter, facebook and linkedIn. The process of booking will be through a website that we intend to set up. Prospective readers will have to register their details on the site and then effect payments through  NEFT, Cheque or Cash drop in. We will then arrange to have the book delivered through courier at the buyer’s address.

In this context, it becomes imperative to share with you the key aspects that one should expect to receive from 'The Thoughtful Investor'. Firstly, this book isn't elementary. It takes the reader through the serious aspects of investing and assumes that the reader has some basic knowledge of investing and is eager to learn and know more. The discussion is elaborate and gets intense at some places so that the reader benefits from the communication that is being sought to be established. No, there are no algebras or high school arithmetic involved but the reader should read the book like a text, underlining the important arguments so as to make it fit for quick and easy reference later on. 

Secondly, there are examples on several Indian companies but none of these are written in an elaborate case history mode. This is because the object of including those references is to assist the reader in a better understanding of the theory and not in doing an elaborate research on a specific company.

Thirdly, many topics are interlinked to one another so there are repetitions in key areas. The tools of analysis are not unique to a certain aspect of study so a tool can be used repeatedly to evaluate various aspects of analysis. For example, a good business generates a high RoE which reflects on the management quality as well. Additionally, companies that cook their books of accounts do not report high RoEs, while in a commodity bull run even the cyclical stocks generate a high RoE. 

The above argument is just indicative but shows how the concept of RoE will have to be dealt with differently, depending on what I want to communicate. 

However, if you want to know more about 'The Thoughtful Investor'  you can check my twitter handle @BMTheEquityDesk or look up at my Facebook or LinkedIn accounts. I have been sharing extracts from the book on these social networking sites for the past thirteen months.

I have also created a Facebook page for 'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' which can be accessed through the following link: 

https://www.facebook.com/ThoughtfulInvestor -

I intend to keep this Facebook page updated with all events relating to ‘The Thoughtful Investor’ so one way to stay associated with the developments of the book is to remain connected with this Facebook page. 

The book goes into print next week and while the manuscript is complete I am making sure that the material is of reasonable standard. For example, we are using the non reflective paper that most internationally printed books have. This paper is lighter by weight and also relieves the eye of reading stress. Furthermore, we are releasing hardbound covers only to start with so that the 450 odd pages remain together to one another and also with the reader - for a long time. 

The price of the book is restricted to three digits (inclusive of delivery) and the overwhelming response even before the price has been disclosed is a true testimony of the trust and confidence that all of you have in me. I hope to live up to the expectations. 

As an investor all my decisions are based on the opportunity cost of capital. But when it came to writing the book I have not thought of any opportunity cost as the idea was to focus on knowledge transfer then solely attempt to make money out it.

If I wanted to focus on money making I would have conducted an online seminars, course or a conferences and taken a few thousands per seat. But irrespective of the commercial set up, it is just not possible to cover as many topics in an online seminar, course or a conference as one can, while writing a comprehensive text on the subject. Hence, I opted for the latter. 

Finally, the learning part should extend after one has read the book as he would then be able to engage in a discussion and debate on the same at TheEquityDesk forum, so that the process of learning from 'The Thoughtful investor' continues for longer periods of time. 

I am not sure if too many authors think of this interactivity.  

Regards,

Basant Maheshwari

Also Check:

http://www.theequitydesk.com/forum/forum_posts.asp?TID=4649&FID=51&PR=3 - The Thoughtful Investor" by Basant Maheshwari

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