Investing requires a lot of reading. In fact, I think I spend far more of my time reading than looking at stocks. This reading habit sometimes takes me well beyond reading quarterly statements, annual reports or conference call transcripts. This time it unexpectedly led me to a book called Payback: Debt and the Shadow Side of Wealth by Margaret Atwood.
The book is largely about the history of debt as a phenomenon. Atwood expands it to touch various topics that we often take as existing by themselves-- topics such as taxes, justice and interest. It is written from a personal perspective and is quite insightful, when it isn't being humorous. Although the gravity of the topic is quite evident and she never lets the reader forget that.
So what does this book have to do with Investing? A whole lot. Debt is something that is intertwined with the modern notions of capitalism-- which is an investor's prime playground. I think to play nice and smart in the playground, it is important to know the history of the rules we play within. I think this book serves that purpose well.
I'd love to hear people's comments on this book.
