Book Review: “A Gift To My Children – a Father’s Lessons for Life and Investing” by Jim Rogers

The heart felt advice of a father to his daughters. Life and Investment advice by one of the worlds most successful men.

Born in 1942, Jim has a strong hard work ethic. He started making money at age five, picking up bottles at baseball games. It’s no wonder Jim went on to make a fortune in investing. He retired at age thirty-seven to follow his life dream of traveling the world. Jim recently became the proud father of two daughters, in his sixties. Jim wrote the book “A Gift to My Children – A Father’s Lessons for Life and Investing” in order to share his lifetime of advice and experience with his daughters.

The book is quite small (85 pages) for the price, so you can probably read it in one sitting. Nevertheless, it is filled with exactly the right advice a father should give his daughters. For example, we have two girls also and were impressed with Jim’s advice on the subject of boys:

“Boys will need you more than you’ll need them!”

His advice on learning Mandarin (especially) and Spanish as second languages is also great advice based on what we have also observed living in Asia. Get your children learning Mandarin early in life.

Each chapter has a piece of advice on which Jim then elaborates. Most of the advice is on investment but a few life truths are also discussed. We have listed the chapters below.

1. Swim Your Own Races: Do Not Let Others Do Your Thinking for You
   1. Rely on your own intelligence
   2. If anybody laughs at your idea, view it as a sign of potential success!
   3. Be ethical
   4. Save
2. Focus on What You Like
   1. Age is irrelevant when you are passionate about a goal
   2. Dedicate yourself to what you feel passionate about
3. Good Habits for Life and Investing
   1. Be a self-starter
   2. Attention to details is what separates success from failure
   3. Live your life with a dream
4. Common Sense? Not So Common
   1. Most perceived wisdom is a misconception
   2. The media often propagates conventional wisdom
5. Your Education: Part 1: Let the World Be a Part of Your Perspective
   1. Do not rely on books; go and see the world!
   2. Understand the significance of brics.
   3. Be open to people who are different, whether at home or abroad
   4. Keep an open mind and be a world citizen!
6. Your Education: Part 2: Learn Philosophy; Lean to “Think”
   1. Philosophy will teach you how to think for yourself
   2. Do current writings on philosophy help us learn to think?
   3. The two ways of thinking
   4. Don’t neglect the bear
7. Your Education: Part 3: Learn History!
   1. A macroscopic view of the world is what you need
   2. Which history book tells us the truth?
   3. Connect your knowledge of history with your travel
   4. History will show you which forces drive markets
   5. Nothing is really new
8. Your Education: Part 4: Learn Languages (and Make Sure That Mandarin Is One of Them!)
   1. Mandarin will be the next global language
9. It Is the Century of China
   1. Pay attention to the major changes taking place in the world now
   2. Buy Chinese stocks, and buy the future of this country!
   3. A hard landing cannot be avoided!
   4. China equals commodities (1.3 billion people!!)
10. Know Thyself by Understanding Your Weaknesses and Acknowledging Your Mistakes
    1. Know who you are
    2. People are easily carried away by mob psychology
    3. Do not panic; learn the psychology
    4. Selling hysteria
11. Recognize Change and Embrace It
    1. Everything changes. Everything.
    2. No one has defied the principle of supply and demand and survived
    3. Change can be a catalyst
    4. Dealing with change
12. Look to the Future!
    1. Everyone would be a millionaire if he could read a newspaper from the future
    2. Many countries will come apart (Prediction: Iraq will divide into 3-4 countries)
    3. Do not place your bet on that which is dying out
    4. The women’s era is approaching!
    5. Pay attention to what everyone else neglects
    6. The more certain something is. The less likely it is to be profitable
    7. Do not think in terms of what you wish (fools gold)
    8. Know when not to do anything
13. Lady Luck Smiles on Those Who Continue in Their Efforts
    1. Do your homework, or you will end up with a glass bead (and not a diamond)
    2. The arrogant are blind to the truth (the more you learn the more your realize how little you know)
    3. Pass this message on to your child

Leave A Comment:

What wisdom and experience from your life would you like your children to know?

About Danny Sheehan

Danny lives in Hong Kong but is originally from Australia. He is Married to Maggie and together they have two children with whom they enjoy sharing and enjoying an exciting life with daily. Danny's passions are freedom, adventure and discovery, mainly in nature and science but also spiritually. He is a great believer in living in the NOW.
More about Danny Sheehan

Web | Twitter | Facebook | Google+