The whole point about books like this is not to discover specific investment ideas but rather to learn more about the mental and intellectual disciplines needed to sustain a record of winning investments. There are some stimulating and interesting bits here. Two of the most pertinent pieces of advice are currently being widely ignored. The first is: "Most of the time the best thing that you can do is do nothing ... look out of the window, go to the movies, drink beer". In other words, only invest when you are reasonably confident you know why and what you are buying. The second is directed at the Internet: "Just because an industry changes the world, it doesn't mean you are going to make any money if you buy that industry at the wrong time in the frenzy".
All in all, the book's general advice points in the opposite direction of which most investors are currently headed. In the years to come, it may look quite prescient; as Sir John Templeton first pointed out, the only sure-fire way to make money in the stock market is to do something that most other people already are not. --Jonathan Davis