The Englishman and Santiago are both in search of their personal legend. For Santiago, it is the treasure at the Pyramids. For the Englishman, it is the secrets of alchemy. They both understand the importance of pursuing one's Personal Legend and they understand that their destiny is in their own hands.

However, the Englishman and Santiago go about their respective searches in very different manners. Santiago learns about the Soul of the World through observation and experience. He watches for omens, observes animals and human behavior, and looks for signs and lessons in the natural world. The Englishman, on the other hand, thinks that he can learn all he needs to from books. He has spent his life reading about alchemy and feels that he can discover its secrets through thorough academic study.

Santiago and the Englishman both think that their approach is better. However, they are intrigued by the notion that there is more than one way to approach the situation. While traveling together in the caravan, they decide to experiment by adopting the other's approach. In the end, they both find that the other's method does not suit them.

When the Englishman and Santiago finally meet the Alchemist, the Englishman discovers that there are limits to learning purely from others and that it is time for him to make discoveries of his own. Santiago has been learning from his own observations and intuition for some time and therefore the Alchemist is more eager to take the boy under his tutelage. However, Santiago still learns from the Englishman that there is value in academic study. It just should not be all that one uses to learn about the Soul of the World.