This book was written in the early 2000's. It is just as relevant today as it was then.
The author, Jim Collins, is a researcher who did a study on the factors that cause good companies to become great companies. It will surprise you what he and his research group discovered.
As a stock investor, the lessons from this book can help to guide investors toward those companies which will have spectacular long-term returns by shedding light on what to look for and avoiding pitfalls. Some of the central points are the following:
- Level 5 Leadership: A surprising style, required for greatness.
- The Hedgehog Concept: Finding your three circles, to transcend the curse of competence.
- A Culture of Discipline: The alchemy of great results.
- Technology Accelerators: How good-to-great companies think differently about technology.
- The Flywheel and the Doom Loop: Why those who do frequent restructuring fail to make the leap.
Regular reading is an essential quality that all good investors engage in on a regular basis. With each item read, the investor pieces together a tapestry that becomes their investment thesis. Successful investing requires wide reaching knowledge of many subjects. Start today and begin to learn those key lessons which will enhance your earnings potential.
"If I have seen further it is by standing on the shoulders of giants."