Who we are
As in most ventures there are many who have contributed to this site. The four co-founders were Henrik Andersson, Bo Börtemark, Mats Larsson and Michael Persson. Today, the persons profiled below are the driving forces behind the site and everything that is published passes through us. Combined we have many decades of experience of the finance industry, working for hedge funds, in mutual funds, at banks, in insurance companies and pension companies, with corporate finance and much more. What unites us is the passion to constantly learn more on finance and investments.
Further we are extremely pleased that Magnus Angenfelt, Henry Makansi, Michael Persson, Olle Qvarnström and Alf Riple at times supply material for the site and we are hoping that more people will join us along the way. Thank you all.
How did you become interested in investing? Quite late and in an indirect way. I come from an academic liberal arts home; meaning business and investments weren’t a big part of the dinner table conversations. The interest started at Uppsala University where I wrote papers on finance and tried to hang around the cool guys in the trading room (yes, there was one in those days). But the real fire didn’t lit until I later worked in corporate finance and got to see the operations of a number of – soon to be listed or merged - companies from the inside.
Favorite book on investing? Right now, The Most Important Thing by Howard Marks. Otherwise my favorite investment character is Charlie Munger, or perhaps Ben Graham.
Favorite book all categories? The Road to Serfdom by Friedrich von Hayek, which I read on our honeymoon – don’t remind my wife!
If you could only recommend five books to a beginner, what would they be? In no rank order 1) Why Moats Matter by Heather Brilliant & Elizabeth Collins, 2) The Intelligent Investor by Benjamin Graham, 3) Common Stocks and Uncommon Profits by Philip Fisher, 4) The Art of Execution by Lee Freeman-Shor and 5) The Most Important Thing by Howard Marks. Some of these the beginner will appreciate even more over time, but why start without ambition?
Most important take-away from a book? That’s impossible to single out. The insights that have shaped me the most are definitely the behavioral finance and investing research by James Montier and Michael Mauboussin that later turned into several books. Oh, and I had my wife paint a black swan above our front door!
How did you become interested in investing? At first through my father’s investing, and then due to a very passionate teacher in high-school who really opened my eyes to how companies work, entrepreneurship and the difference between a company and stocks. But it was when I arrived at University of Nebraska on a tennis scholarship in the early 1990s that investing went from mere interest to something I really wanted to spend my life doing. Specifically, it happened in the fall of 1993 as Mr. Buffett travelled the hour it took from Omaha to Lincoln in order to present to a group of fortunate students – I being one of those lucky individuals.
Favorite book on investing? Poor Charlie’s Almanack.
Favorite book all categories? Poor Charlie’s Almanack.
If you could only recommend five books to a beginner, what would they be? The Intelligent Investor (Benjamin Graham), Value Investing (James Montier), Business Adventures (John Brooks), Poor Charlie´s Almanack (Peter Kaufman) and The Essays of Warren Buffett (Lawrence Cunningham).
Most important take-away from a book? To see investing as a long-term compounding game where the result depends upon the returns of underlying business develops, not to view companies as ticker-codes to be traded back and forth. (The Intelligent Investor).
How did you become interested in investing? A good question. For some to me unknown reason I began reading a Swedish weekly business magazine, Affärsvärlden, which my dad took home when I was around 14 years old, and found it intriguing. No one in my family had any interest in stocks but I managed to get a permission to buy 2 shares in 5 different companies, which was a home run. After that I was hooked. The first book I read was "Point & Figuremetoden", by a local swede, Sixten Öhman, who probably borrowed most of his material from the US. I did a lot of X & O manually which was very fun and seemed sophisticated. My parents were less impressed.
Favorite book on investing? One Up on Wall Street by Peter Lynch.
If you could only recommend five books to a beginner, what would they be? Value Investing (James Montier), One Up on Wall Street (Peter Lynch), How to Make Money in Stocks, William O’Neill, More Than You Know, Michael Maboussin, Fooled by Randomness, Nassim Nicholas Taleb.
Most important take-away from a book? Big question, I don't think there is one big finding, other than that thru trial and error, over time, as an investor you will find your own investment style with the help of reading different investment books of high quality.
How did you become interested in investing? My grandfather mentioned that he had bought stocks in the IPO of the major state owned telecom company in Sweden, Telia, in the year 2000 (a terrible investment). I had been interested in making money from an early age and when I got to know what stocks were I was intrigued. However, it took some time until I made my first highly speculative trade (not close to being an investment). Later on I developed a more analytical investment approach.
Favorite book on investing? Poor Charlie’s Almanack, Peter D. Kaufman
If you could only recommend five books to a beginner, what would they be? Manual of Ideas, John Mihaljevic; The Little Book That Creates Wealth, Pat Dorsey; Common Stocks and Uncommon Profits, Phillip Fisher; Poor Charlies Almanack, Peter D. Kaufman and Intelligent Investor 7th edition, Benjamin Graham (Jason Zweig version).
Most important take-away from a book? For me it’s the concepts of Mr Market and Margin of Safety that Benjamin Graham explains so well in The Intelligent Investor. Grasping these concepts will take a person a long way in becoming an investor as they explain the importance of psychology (you are your biggest enemy) and valuation in such profound ways.
How did you become interested in investing? My friend was working for a hedge fund and his boss told him to read the Intelligent Investor. When he finished the book he mentioned that I might like it. That was an understatement and it changed my life.
Favorite book on investing? Poor Charlie’s Almanack, Peter D. Kaufman.
If you could only recommend five books to a beginner, what would they be? The Most Important Thing (Howard Marks), Dhando Investor (Mohnish Pabrai), Margin of Safety (Seth Klarman), The Essays of Warren Buffett (Warren Buffett), You Can Be a Stock Market Genius (Joel Greenblatt).
Most important take-away from a book? Difficult to highlight one….(tbd)
How did you become interested in investing? It all started when I got a summer job at age 14 and realized that I had no real need for that kind of money. I bought some investment funds with Japan-focus and they just went straight up. Investing seemed easy and right then and there I was hooked. Now, quite some time later, I’m a bit more humble but still just as hooked.
Favorite book on investing? Fooled by Randomness. The book has had a profound impact on my way of thinking about risk and probabilities. Not just in investments but in everyday situations.
Favorite book all categories? Fooled by Randomness.
If you could only recommend five books to a beginner, what would they be? Stock Market Wizards - Jack D. Schwager. About there being more than one way to make money in the markets. Fooled by Randomness - Nassim Nicholas Taleb. About being humble and not confusing good decisions with good results. Active Value Investing - Vitaliy Katsenelson. About separating business analysis from valuation and the common misconception that buy-and-hold is a good idea. Behavioural Investing - James Montier. About the common tricks your mind play on you and how to beat them. The Most Important Thing - Howard Marks. The most important things.
Most important take-away from a book? It’s Nassim Nicholas Taleb who through his books have taught me that if you have positive expected value, and you handle risk, success is inevitable. Sure, you will have a lot of bad outcomes along the way, but a positive expected outcome (i.e. a good investment process) will prevail sooner or later.