NDIGI Book Club builds better investors

More than 500 Notre Dame students and alumni joined a virtual fireside chat last fall to hear renowned investor Howard Marks discuss his 2011 book, “The Most Important Thing: Uncommon Sense for the Thoughtful Investor.”

Moderated by Katie Koch (BA ’02), CEO of TCW Group, the conversation with Oaktree Capital Management’s co-founder and co-chairman underscored the role thoughtful reading plays in shaping successful investors.

The discussion was part of the Notre Dame Institute for Global Investing (NDIGI) Book Club, an initiative designed for students of all majors, from first-years to graduate students, to deepen their understanding of the business world through intentional reading and discussion.

The initiative began in the 2024 spring semester when a visiting practitioner invited to campus by NDIGI shared his reading list with students, inspiring one student to suggest organizing a book club. Mark Dumich, associate director of NDIGI and term assistant teaching professor, loved the idea and was pleasantly surprised by the number of students who signed up to participate.

Dumich and Jason Reed, Wade Family Associate Teaching Professor of Finance and associate director of NDIGI, select each semester’s books, aiming to ensure students of any field of study or class year can learn from and enjoy the content.

“We focus on finding a topic that touches finance and investing without requiring subject matter expertise. We have accomplished our goal if the participants have fun with the book and learn something along the way,” Dumich said.

Howard Marks and Katie Koch Zoom for the NDIGI Book Club.

Once a book is selected, participants register and receive a copy. Toward the end of the semester, NDIGI hosts a lunch featuring a guided discussion to share ideas and takeaways. The program has also held Zoom sessions with the authors in two of its three meetings, often opened to the broader Notre Dame community.

These events are a highlight for club member Daman Bhalla (BA ’28). “The author events at the end of each book are especially rewarding. When I’m left with questions, there’s no one better to ask than the people who wrote them.”

Thus far, the books have included “The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing” by Michael J. Mauboussin, “The Psychology of Money” by Morgan Housel and Marks’ “The Most Important Thing,” with approximately 100 students participating each semester.

For Bhalla, the book club has provided an outlet for his love of reading and a community of like-minded peers. “The club allows me to combine my passion for reading with my interest in business and share that with others, motivating me to develop a deeper conceptual understanding of each book,” he said.

By helping students appreciate the value of reading, the club fosters a mindset of continuous learning that extends beyond interview talking points or a line on a resume and well beyond their years at Notre Dame.

“Being a lifelong learner is essential for career success as an investor, and those who develop that skill outside the classroom gain a durable competitive advantage,” Dumich said.