Eugene Schwartz, 1966
Breakthrough Advertising
The best book on persuasion ever written, and the one that taught me you cannot create demand.
Long out of print. Clean copies have gone for several hundred dollars and occasionally much more.
Lorenzo Ayres / 1 min / Number 7 of ten
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If I could keep one book off this entire shelf it might be this one, and it has nothing to do with investing.
Schwartz's central claim is that you cannot create desire. Desire already exists in the market, in enormous quantity, and all copy can do is channel it at your thing.
That sounds obvious until you notice that most marketing is trying to convince somebody to want something, which is the losing version of the job.
Then he gives you the actual tool, which is the five stages of awareness. Somebody who already knows your product needs a different opening sentence than somebody who knows they have a problem but has never heard of a solution, and somebody who does not yet know they have a problem needs a third thing. Most bad advertising is good copy pointed at the wrong stage.
When we repositioned the park the old customer already owned a machine and already knew the category, so the message was about trails and terrain. The new customer did not know this kind of vacation existed. Different stage, different opening line, same property, and revenue went from $1.5 million to $6 million in twelve months without anything physical changing.
Be warned that it is a difficult read and the used copies are absurd. I have a photocopy.
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Build the engine
- Claude Hopkins, 1923Scientific AdvertisingA hundred years old, free online, and still more useful than most of what got published last year.
- Gary Halbert, 1984The Boron LettersLetters from a copywriter to his son, written from federal prison, and better than that sounds.
- Jordan Belfort, 2017Way of the WolfThe straight line system, which is the method every closer in my business is trained on.
Deals and structure
- Ogilvy on AdvertisingDavid Ogilvy, 1983
- Secrets of Professional Turf BettingRobert L. Bacon, 1956
- You Bet: The Betfair StoryColin Cameron, 2009
- Margin of SafetySeth Klarman, 1991
- The special situations booksMaurece Schiller, 1955 to 1966
- Mosaic: Perspectives on InvestingMohnish Pabrai, 2004
- globalization: n. the irrational fear that someone in China will take your jobBruce Greenwald and Judd Kahn, 2008
- Competition DemystifiedBruce Greenwald and Judd Kahn, 2005
- Distress InvestingMartin Whitman and Fernando Diz, 2009
- Merger MastersKate Welling and Mario Gabelli, 2018
- King IcahnMark Stevens, 1993
- Dear ChairmanJeff Gramm, 2016
- Barbarians at the GateBryan Burrough and John Helyar, 1989
- Buy Then BuildWalker Deibel, 2018
- The Art of M&AAlexandra Reed Lajoux and Stanley Foster Reed, 1989
- The Strategy and Tactics of PricingThomas Nagle and Georg Müller, 1987
- Setting the TableDanny Meyer, 2006
- 100 BaggersChristopher Mayer, 2015
- World Commodities and World CurrencyBenjamin Graham, 1944
- Storage and StabilityBenjamin Graham, 1937
- Walker's Manual of Unlisted StocksHarry Eisenberg, editor, the 2000 edition
- The Takeover GameJohn Brooks, 1987
- Bankruptcy Investing: How to Profit from Distressed CompaniesBen Branch and Hugh Ray
- The Crash and Its Aftermath: Securities Markets 1929 to 1933Barrie Wigmore, 1985
- Selling America ShortRichard C. Sauer, 2010
- Outsmarting the Smart MoneyLawrence A. Cunningham, 2002
- The Inefficient Stock Market and The New FinanceRobert A. Haugen
- Distant ForceGeorge A. Roberts, 2007
- Rising To Power: Paul Desmarais and Power CorporationDave Greber, 1987
- The Joy of Achievement: Conversations with J.R.D. TataR.M. Lala
- Pleased But Not SatisfiedDavid L. Sokol
- The Story of Bank of America: Biography of a BankMarquis James and Bessie Rowland James, 1954
- Citibank: A Century in AsiaPeter Starr, 2002
- See's Famous Old Time Candies: A Sweet StoryMargaret Moos Pick, 2005
- The Farmer From MernaKarl Schriftgiesser, 1955
- Shaw Industries: A HistoryRandall L. Patton, 2002
- Iron Will: Cleveland-Cliffs and the Mining of Iron OreTerry S. Reynolds and Virginia P. Dawson, 2011
- The Little Book That Beats the MarketJoel Greenblatt, 2005