Just reading books on business isn’t enough; one should also add in a couple of semesters of accounting (which is the language of business), a couple of semesters of economics, and a good course on central banking so one understands the power of the Federal Reserve Bank to come to the market’s rescue (most MBA courses are sorely lacking in this). Then one will be in a good position to start looking for a winning investment. But then the search for a good investment takes even more reading—so count on reading two or three hundred annual reports a year and the Wall Street Journal every day.
