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Money, Myths and Mantras: The Ultimate Investment Guide
From the legendary investment guru Devina Mehra—one of the most powerful women on Fortune India 2022 and one of the only two women to receive a gold medal in the history of IIM-Ahmedabad—Money, Myths and Mantras answers some of the most difficult yet pertinent questions
about investing.
How do you get started on your investment journey?
Is investment only about the stock market or should you go beyond it?
What are the rules of investing and when should you break them?
What are the strategies of successful investors, and should you follow them?
Which well-known investment mantras are really myths?
How can your brain sabotage your portfolio?
An investment book like no other, it critically analyses different investing approaches and underscores what works and what doesn’t. It helps readers not only learn about investing but also unlearn some of the commonly held beliefs and practices that often lead to wrong choices. Engagingly written by a thought leader in the industry, Money, Myths and Mantras includes frameworks, thoughts and aha moments for both the novice investor and the investment pros. This book is the distillation of three decades
of analysis of the fundamentals of investing. It is sure to be your ultimate guide to wealth creation.
about investing.
How do you get started on your investment journey?
Is investment only about the stock market or should you go beyond it?
What are the rules of investing and when should you break them?
What are the strategies of successful investors, and should you follow them?
Which well-known investment mantras are really myths?
How can your brain sabotage your portfolio?
An investment book like no other, it critically analyses different investing approaches and underscores what works and what doesn’t. It helps readers not only learn about investing but also unlearn some of the commonly held beliefs and practices that often lead to wrong choices. Engagingly written by a thought leader in the industry, Money, Myths and Mantras includes frameworks, thoughts and aha moments for both the novice investor and the investment pros. This book is the distillation of three decades
of analysis of the fundamentals of investing. It is sure to be your ultimate guide to wealth creation.
395 pages, Kindle Edition
Published January 30, 2025
29 people are currently reading
118 people want to read
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Displaying 1 - 16 of 16 reviews
March 27, 2025
A very average book overall and could easily be skipped.
This book indeed busts some common misconceptions. But it won't give you much actionable insights. It talks in detail about common fallacies that investors might fall into and recommend that machines could help resolve them. But it wouldn't give even a single simplified strategy some could implement with machines.
The author claims multiple times about the importance of asset allocation but does not even provide a single example or how to approach asset allocation for a beginner investor.
The book helps you question some of your beliefs like evaluating ourselves as a fund manager if we are stock picking and ruthlessly rank us with mutual fund or pms managers and decide on the maximum allocation for ourselves to play with. The book also tries to promote her pms service wherever possible.( The last chapters regarding AI is an example).
Overall, this is an average book that helps you question some of your beliefs and leave you with more questions than you started with and fails in helping beginner investors with concrete steps in building a diversified portfolio. You can safely skip this book.
This book indeed busts some common misconceptions. But it won't give you much actionable insights. It talks in detail about common fallacies that investors might fall into and recommend that machines could help resolve them. But it wouldn't give even a single simplified strategy some could implement with machines.
The author claims multiple times about the importance of asset allocation but does not even provide a single example or how to approach asset allocation for a beginner investor.
The book helps you question some of your beliefs like evaluating ourselves as a fund manager if we are stock picking and ruthlessly rank us with mutual fund or pms managers and decide on the maximum allocation for ourselves to play with. The book also tries to promote her pms service wherever possible.( The last chapters regarding AI is an example).
Overall, this is an average book that helps you question some of your beliefs and leave you with more questions than you started with and fails in helping beginner investors with concrete steps in building a diversified portfolio. You can safely skip this book.
February 13, 2025
I would ideally give 3.5 stars. This is an interesting week with many insights for both beginners and seasoned investment professionals. The book spans a long period - I liked the glimpses into Indian history when BSE was run by brokers and I also liked that the book ended with the fact that the playing field was changing with AI giving examples of hockey and that human plus machine was going to become the default model going forward.
The author backs most views with data and and cites examples from Indian as well as global markets. I especially liked the fact that you should judge your investment mistakes by the process and not outcome. The book displays some out of the box thinking and goes against the conventional wisdom of following famous investors or putting all eggs in high conviction calls. Even insights on basic facts like PE are good. Some other things that stood out
1) dont be bull or bear - be a hare so you have almost 360° vision and you can change directions if needed
2) if you miss a Multibagger remember investments are like a bus there’s always another one around the corner
3) Investment has changed from winners game to a losers game control your drawdowns.
What I didn’t like about the book was the fact that Davina uses this as a marketing tool continuously talking about her fund I wish she had left that part out to make it more neutral reading .
The author backs most views with data and and cites examples from Indian as well as global markets. I especially liked the fact that you should judge your investment mistakes by the process and not outcome. The book displays some out of the box thinking and goes against the conventional wisdom of following famous investors or putting all eggs in high conviction calls. Even insights on basic facts like PE are good. Some other things that stood out
1) dont be bull or bear - be a hare so you have almost 360° vision and you can change directions if needed
2) if you miss a Multibagger remember investments are like a bus there’s always another one around the corner
3) Investment has changed from winners game to a losers game control your drawdowns.
What I didn’t like about the book was the fact that Davina uses this as a marketing tool continuously talking about her fund I wish she had left that part out to make it more neutral reading .
March 24, 2025
As someone whose investment mantra is sweep excess savings account money into either an FD or an MF or a share that catches my fancy, and then forget about it, Devina Mehra's book got me thinking about a few things.
1. The 'Buy and Forget' principle may not be the best one. You should set a trailing stop loss for your equity (anytime your share drops 25% or more, sell...and not just when it drops below your buying price). And every once in a while, take stock of your portfolio to see if it needs redeployment (an alien principle to me).
2. You have to have global assets in your portfolio... Playing in just the Indian market is akin to playing football in 10% of the field.
3. When interest rates rise, you should expect more from your equity - otherwise, the risk isn't worth it.
And so on and so forth.
Mehra brings her incredible experience at First Global to play in her book, taking quite different stands from the normal received wisdom of investing. She peppers the book with enough fascinating anecdotes and examples to keep the lay person interested.
But for a totally DIY inexpert investor like me, this book can be a bit intimidating. The researcher in Mehra talks through how to choose and maintain your portfolio... and most of that is beyond my ken. This brings me to the most important lesson this book taught me... I should look for a financial advisor.
This book is also very weighted towards the equity markets. One would have liked to see a bit more on asset allocation across different categories.
Overall, though, this book gives you a ringside view into the investing mind of a sharp player in the finance space. It's worth a read, just for that.
1. The 'Buy and Forget' principle may not be the best one. You should set a trailing stop loss for your equity (anytime your share drops 25% or more, sell...and not just when it drops below your buying price). And every once in a while, take stock of your portfolio to see if it needs redeployment (an alien principle to me).
2. You have to have global assets in your portfolio... Playing in just the Indian market is akin to playing football in 10% of the field.
3. When interest rates rise, you should expect more from your equity - otherwise, the risk isn't worth it.
And so on and so forth.
Mehra brings her incredible experience at First Global to play in her book, taking quite different stands from the normal received wisdom of investing. She peppers the book with enough fascinating anecdotes and examples to keep the lay person interested.
But for a totally DIY inexpert investor like me, this book can be a bit intimidating. The researcher in Mehra talks through how to choose and maintain your portfolio... and most of that is beyond my ken. This brings me to the most important lesson this book taught me... I should look for a financial advisor.
This book is also very weighted towards the equity markets. One would have liked to see a bit more on asset allocation across different categories.
Overall, though, this book gives you a ringside view into the investing mind of a sharp player in the finance space. It's worth a read, just for that.
July 24, 2025
2 star as didn’t really gain much insight. Lots of rehashing from Daniel Kahneman’s books. And the constant push for her firm’s product and expertise when it comes to AI became a little too much in the end.
December 15, 2025
Simple to read! Fantastic lessons!!
February 5, 2025
The author is too mesmerised by her own genius and repeats that repeatedly to the point of irritation. Otherwise, a decent read
February 26, 2025
Many sagacious and balanced takes on the entire length and breadth of investing universe. Your investment philosophy is very likely to be found in this book and also much more likely that it is a fallacy. So it is in many ways an eye opener.
May not be liked by people looking to multiply their wealth with a single investment as the entire book’s premise is that there are no single magic bullets in investing universe.
One thing is some lines and examples are repeated often, may be could have been edited better!
May not be liked by people looking to multiply their wealth with a single investment as the entire book’s premise is that there are no single magic bullets in investing universe.
One thing is some lines and examples are repeated often, may be could have been edited better!
February 23, 2025
Pretty good read with some eye opening insights. Devina continuously exhorts you to filter out your biases in the process of investment. She also busts a few myths that investors have been made to believe by talking facts. Overall, pretty intelligent and lucid read- a rare combination.
February 8, 2025
Insightful and informative!
Excellent read for folks who are seasoned professionals as well as for newbies in investment world.
Excellent read for folks who are seasoned professionals as well as for newbies in investment world.
June 26, 2025
Money, Myths, and Mantra is a riveting listen that bridges the world of high finance and everyday financial wisdom with remarkable clarity and candour. Even for readers who might not be naturally drawn to investing, the book offers a compelling case to persist through the early chapters that delve into concepts like P/E ratios. While these may initially feel dense to some from non-finance backgrounds, they lay a necessary groundwork for what unfolds into an accessible and insightful narrative.
The author has a gift for demystifying complex economic and market dynamics. Her writing is fluid and engaging, peppered with real-life examples that anchor abstract ideas in relatable contexts. One of the book’s great strengths lies in how it challenges many of the long-held myths popularised by legendary investors - encouraging the reader to think critically rather than idolise.
At times, the writing borders on self-indulgent, with a tone that can feel overly self-congratulatory - especially when referencing the author’s firm and methodologies. While it's understandable that personal experience forms the basis of her insights, this aspect occasionally detracts from the otherwise objective tone of the book. Still, it doesn't overshadow the core messages, which remain thought-provoking and relevant.
A standout message is her emphasis on tuning out the noise of financial media and focusing instead on data, discipline, and the ever-present factor of luck. This perspective, refreshingly free of bravado, anchors the book in realism.
That said, the book could benefit from tighter editing, particularly in trimming avoidable repetitions that occasionally mar the otherwise crisp narrative.
Personally, the book served as a reminder that successful stock-picking isn’t for everyone. Like many readers, I came away reaffirmed in my choice to rely on mutual funds - a decision based not on lack of interest but on an honest self-assessment of time, energy, and temperament.
Whether you're a seasoned investor or someone who believes they’ve already got their finances figured out, this book has something to offer. I highly recommend it to anyone willing to challenge their assumptions and gain a more grounded understanding of wealth creation.
The author has a gift for demystifying complex economic and market dynamics. Her writing is fluid and engaging, peppered with real-life examples that anchor abstract ideas in relatable contexts. One of the book’s great strengths lies in how it challenges many of the long-held myths popularised by legendary investors - encouraging the reader to think critically rather than idolise.
At times, the writing borders on self-indulgent, with a tone that can feel overly self-congratulatory - especially when referencing the author’s firm and methodologies. While it's understandable that personal experience forms the basis of her insights, this aspect occasionally detracts from the otherwise objective tone of the book. Still, it doesn't overshadow the core messages, which remain thought-provoking and relevant.
A standout message is her emphasis on tuning out the noise of financial media and focusing instead on data, discipline, and the ever-present factor of luck. This perspective, refreshingly free of bravado, anchors the book in realism.
That said, the book could benefit from tighter editing, particularly in trimming avoidable repetitions that occasionally mar the otherwise crisp narrative.
Personally, the book served as a reminder that successful stock-picking isn’t for everyone. Like many readers, I came away reaffirmed in my choice to rely on mutual funds - a decision based not on lack of interest but on an honest self-assessment of time, energy, and temperament.
Whether you're a seasoned investor or someone who believes they’ve already got their finances figured out, this book has something to offer. I highly recommend it to anyone willing to challenge their assumptions and gain a more grounded understanding of wealth creation.
March 26, 2025
The book is profusely sprinkled with tips from Mehta's own life and career in investing. That's the best part, and there's so much to learn from.
However she repeats herself so much throughout the book... and with all due professional respect blows her own trumpet many times, including about her own firm. That's the worst part coming out of a gold medalist.
Ideally, when I saw the subheading, "The Ultimate Investment Guide", the least I was expecting from the IIM gold-medallist was some new insights-filled framework, for an early investor.
But all you get is something, which is packaged set of tips, which one comes across often, on business news channels. Nothing new or path breaking.
Other than that, it's really a breezy read!
However she repeats herself so much throughout the book... and with all due professional respect blows her own trumpet many times, including about her own firm. That's the worst part coming out of a gold medalist.
Ideally, when I saw the subheading, "The Ultimate Investment Guide", the least I was expecting from the IIM gold-medallist was some new insights-filled framework, for an early investor.
But all you get is something, which is packaged set of tips, which one comes across often, on business news channels. Nothing new or path breaking.
Other than that, it's really a breezy read!
March 5, 2025
Easy read. Combines a lot of how to think than actual recommendations. For those, who want to build a system of thinking.
April 20, 2025
Brilliant book on the basic principles and where to start
June 5, 2025
Brilliant book... Iv learnt a lot of new things like investor biases, AI and ML type of investing etc
June 12, 2025
an eye opener
August 25, 2025
chapters about data and warren buffett holding periods were excellent.
Displaying 1 - 16 of 16 reviews