02 November 2017

Forced to buy the ebook of 'The Black Swan'

Unhappy with my long-standing financial advisers (low return, very high fees) I have been thrust into the role of chief investment officer of my own self-managed super fund. Fellow independent investors advised joining the Australian Investors Association (AIA), a great choice as it turned out. Felicity Cooper of Cooper Wealth Management was an excellent speaker at a local AIA event. She praised the books by Nassim Taleb and in particular The Black Swan about highly improbable events.

Used to only buying Kindle ebooks well below $10 I baulked at the price of $14.99. I was kindly 'lent' an audiobook version, but it's a genre with which I still struggle to appreciate. The Black Swan has a vast amount of facts, names, places and events that I would like to follow up. It is so hard to stop listening, type in the often-misremembered search terms, and make notes, then return to the audiobook.

Next I resorted to putting a hold on the printed book from my local library - the first time I had used this service in maybe 5 years. For a start the hardback book is heavier than I remember and it was difficult to find space on the tables next to my favourite reading locations (mostly easy chair and bed). As I have commented before, I soon found myself tapping the right margin of the book to turn to the next page! It was when I subconsciously found I was double tapping a word to find its definition I thought 'enough is enough'. By then I had already lamented the inability to highlight notable passages for later follow-up. As well I had become irritated by the destructive behaviour of previous readers turning over the corner of pages to act as bookmarks, an anti-social trait I had forgotten.

So I have admitted defeat and purchased the Kindle ebook. I am back into my reading wonderland being able to flit about the book, search for terms online, mark highlights, make notes, and generally feel I am getting value for money.

The take-away: it's hard not be a skinflint in your retirement.

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