(Part 3) Best introduction in investing books according to redditors
We found 1,291 Reddit comments discussing the best introduction in investing books. We ranked the 294 resulting products by number of redditors who mentioned them. Here are the products ranked 41-60. You can also go back to the previous section.
There is a staggering amount of misinformation in this thread.
First, leveraged ETFs on long equities do NOT inherently decay. That is a myth. The criticism applied to leveraged short/bear equity ETFs or commodity ETFs does not apply to long equity ETFs. They are simply not the same. People will post math showing why leveraged daily re-balancing causes decay in a short-term random walk, but stocks are anything but a random walk in the long run. If stocks ever become a truly random walk in the long run, then all of our investment portfolios will be completely worthless and it won't matter whether you're in leveraged or regular ETFs. We all invest in "the market" because we have faith in the future of the economy and companies that provide goods and services. We believe that, over time, the value of these holdings will trend upwards, and long term upward movements will indeed result in greater gains to leveraged ETFs than their non-leveraged counterparts. That doesn't mean the gain will be EXACTLY 3x as much - in fact, it certainly won't be - but it will be more nonetheless.
Second, you can simply look at the 1% fee and the "decay" of daily re-balancing as the cost of leverage. If you do this, you will find that a couple points in "friction" is negligible when you consider that it allows you to get leveraged exposure inside of accounts that it is otherwise difficult to leverage (e.g. retirement accounts) while also removing your risk of a margin call. Leveraged exposure is beneficial for younger investors with a long investment time horizon as it helps to diversify your equity holdings across time. Other ways to get leverage include simply buying stocks on margins, buying futures, or buying long-dated calls on equity indices. Buying LEAPS subjects you to total loss of investment if your timing is bad and futures/margin buying subject you to potential margin calls. Leveraged ETFs are beneficial in that they avoid these two problems. For removing that risk, you pay a bit more in fees and "decay".
Third, the stock market has circuit breakers that prevent a single day decline of 33%. So the replies saying "what if the stock market loses 34% in a day?!" are off base, because the market will close before that happens. And yes, in 2008 the market got wrecked, but UPRO would've survived just fine and offered an excellent buying opportunity. Also note that leveraged ETFs are useful in that they reduce leverage on the way down. This is the opposite of how futures/margin buying works. Leveraged ETFs will actually handle prolonged downturns better than buying on margin or being long futures for this reason.
That all said, you may find that UPRO is a bit too volatile as a sole leveraged holding. 3x daily leverage is greater than historical optimal leverage, which is about ~2x. I hold mostly SSO (2x SPY daily) and SDYL (2x high dividend monthly), coupled with TYD in my leveraged portfolio. I hold some UPRO to try to get the leverage slightly above 2x, but the bulk is 2x, not 3x.
There are valid arguments to be made against leveraged investing - namely that the drawdowns could be so severe that you wouldn't handle it and stay the course - but most of the criticism in this thread is completely incorrect.
Wow some people here taking profits with an all time high breakout after nice bullish consolidation + Segwit.
Immediately go to Amazon and buy this book or you won't be a millionaire on this crypto bull market.
https://www.amazon.com/Reminiscences-Stock-Operator-Commentary-Livermore/dp/0470481595/ref=sr_1_3?s=books&ie=UTF8&qid=1501913482&sr=1-3&keywords=Reminiscences+of+a+Stock+Operator
Yes, buy the hard cover cheapo's.
Recently, I was trying to figure out the same thing. After searching through various sources (quantstart, reddit, quantocracy and others) I found this book:
https://www.amazon.com/dp/B0052YFRGQ/ref=cm_sw_r_cp_awdb_vhMEybXMFRF75
Even though it is language agnostic, it seems to offer the proper balance between breadth and depth of developing quantitative trading strategies.
The best written works I've seen on how to invest are the Phil Town books.
Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week!
Payback Time: Making Big Money Is the Best Revenge!
His first book covers more swing trading. His second book covers a longer buy and hold style strategy which I currently use. Both books have excellent information on evaluating a company, figuring out a baseline value for the stock, and explaining how to trade the stock within a margin of safety.
I am not sure if the second book makes less sense of you don't read the first, but the second book does include everything you should need to evaluate a company from a "mainstreet" business perspective as well as the financials from a wall street numbers perspective.
Edit: Here is an example of me doing this for Google stock back in the day: http://www.investorgeeks.com/articles/2010/05/21/payback-time-analysis-for-goog/
Don't daytrade or even trade at all or you will probably lose it all quickly.
Instead just put it all in Jan 2018 $16 AMD calls and wait.
Then just sit back and go read the book, How I made 2 million in the stock market, while you watch that 50k go to 100k and then 150k.
You get rich by making a few correct, longterm but concentrated bets and I just gave you your first and best.
I simply cut and pasted on a previous reply I did but here are the basic principals that have built wealth for me. I'm no guru by any means but what I have done has worked for me. As for you, as in life, your mileage may vary but here it is:
HONEST ANSWER:
5)You should NOT invest any real money until you are CONSISTENTLY beating the S&P 500 on PAPER (make believe investments).
Retired in my 30s.
I recommend the book "Rich by Retirement: How Singaporeans Can Invest Smart and Retire Wealthy" by Joshua Giersch. You can read the preview of the book on Amazon ("Look Inside" link). The author has been giving personal finance advice on Hardwarezone for SG investors since 2010. You can also get the PDF version of the book for USD$8.
​
I have no affiliation with the author. I bought a copy of his book on the recommendation of others for my own research and found it useful. I refer to it time to time. Basically, the author tells you:
• exactly what to invest in
• how to do it in Singapore
• what ratio of ETFs and bonds you should be having in your investment portfolio (depending on how old you are.)
I read the following, in roughly this order:
I was just reading over the weekend in Peter Schiff's Crash Proof 2.0 about Ida Fuller, the first SS recipient that paid in $25 bucks and got back $22,000. The ponzi scheme has been bankrupt ever since.
A good way to look at volume is like pressure. Higher volume = higher pressure. Imagine it like pressure in a pipe. Thus if there the price is increasing, on high volume, the momentum is strong, and it takes a lot of pressure to reverse that momentum - and vice versa (price decreasing on increasing volume, you'll often see the floor drop out).
Note that virtually all modern-day trading indicators are based off price and volume. Back in the day (pre-1950's), price and volume were the primary thing traders looked at (in the absence of the 100's of different trading indicators used today).
If you want to learn more about volume and technical analysis, here are one of the best books on the subject:
https://www.amazon.com/Technical-Analysis-Financial-Markets-Comprehensive/dp/0735200661/ref=sr_1_1?ie=UTF8&qid=1479917231&sr=8-1&keywords=technical+analysis
This is also an awesome book, talking about how a trader in ~1950's used pretty much only price and volume to know what to invest in, an enjoyable read too I'd say (I just noticed the kindle edition is only $1, you should definitely check this book out):
https://www.amazon.com/How-Made-000-Stock-Market/dp/1614271690/ref=sr_1_1?ie=UTF8&qid=1479917478&sr=8-1&keywords=how+i+made+2+million+dollars
Eh, this was already covered in a 2015 book I'm reading now.
https://www.amazon.ca/When-Bubble-Bursts-Surviving-Canadian/dp/1459729803
I can't work up any sympathy for Boomers. They have big houses, and they created a lot of the mess that leaves Millennials unable to buy those houses. To me this whole article sounds like "We expected everything to work out perfectly for us! Somebody figure this out so we can remain comfortable!"
It's a bit technical, but I think A Random Walk Down Wall Street is one of the better books about investing that's ever been written. It focuses more on the theory and historic patterns of investing, but it does have solid personal finance advice as well. It's one of those books that teaches you more than you really need to know but makes you quite a bit wiser for the experience.
There's also a "Bogleheads Guide to Retirement Planning" that may be more practical if that's what you're looking for.
How to Make Money in Stocks, by William O'Neil. Worth hundreds of dollars, but only costs $17.
http://www.amazon.com/gp/product/0071752110/ref=pd_lpo_k2_dp_sr_2/182-0955775-5061913?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=lpo-top-stripe-1&pf_rd_r=1FVWNCJTAGMN1WPE4FJX&pf_rd_t=201&pf_rd_p=486539851&pf_rd_i=0071373616
I would definitely read Howard Marks.
Might be easiest in book form. Amazon.
home ownership in the GTA and Vancouver is overrated. i would recommend reading this book: The Wealthy Renter and possibly this one if you're more inclined When the Bubble Bursts. they at least provide you with less biased advice than your friends, family and the real estate industry.
You have to know how to identify the inflection points and buy and sell along with the insiders/specialists, instead of with the herd. Richard Ney described it well in The Wall Street Gang. Relevant chapter here.
> To understand the specialist’s practices, the investor must learn to think of specialists as merchants who want to sell an inventory of stock at retail price levels. When they clear their shelves of their inventory of stocks they will seek to use their profits to buy more inventory at the wholesale price levels. Once you grasp this concept you are ready to learn the eight laws of the specialist:
>1. As merchants, specialists will expect to sell at retail what they bought at wholesale.
2. The longer specialists remain in business, the more money they will accumulate to buy stock at wholesale,which they then want to sell at retail.
3. The expansion of the communications media will bring more people into the market, tending to increase volatility of stock prices as they increase elements of demand - supply.
4. In order to buy and sell huge quantities of stock, Exchange members will seek new ways to enhance their sales techniques through the use of the news media.
5. In order to employ ever increasing financial resources, specialists will have to effect declines of ever increasing dimensions in order to shake out enough stock.
6. Advances will have to be more dramatic on the upside to attract public interest in order to distribute the ever-increasing accumulated inventories.
7. The most active stocks will require longer periods of time for their distribution.
8. The economy will be subjected to increasingly dramatic breakdowns causing inflation, unemployment, high interest rates,and shortages of raw materials.
Anna Coulling is easily digestible and a good primer on identifying the patterns, though she seriously needed some editing (should have been half the number of pages). Kindle edition is better than print, which only has the diagrams in B&W.
I do not deal locally, so, unfortunately, I cannot recommend any institutions, however, it would be a good idea to understand the market and your options beforehand. Reading Investing for Dummies , Investopedia and subscribing to r/stocks & r/investing will be a good start. You do not need to be an expert, but having a solid base of understanding to get started will allow you to have a better idea of where you want to put your money.
The top one without a doubt is:
https://www.amazon.com/Reminiscences-Stock-Operator-Commentary-Livermore/dp/0470481595
You'll be happy you read this one.
Such Wow :D These price levels were last seen during the first year http://www.amazon.com/gp/product/1519667353/ref=s9_simh_gw_g14_i2_r?pf_rd_m=ATVPDKIKX0DER&pf_rd_s=desktop-1&pf_rd_r=1V1PFG0FF2DDK72FP08K&pf_rd_t=36701&pf_rd_p=2079475242&pf_rd_i=desktop
My dad got me this book when I graduated college, and I found it intensely helpful and not dry for nonfiction. Investing in Your 20s and 30s For Dummies
Page 2 of 3
Now, I am not going to give you specific tips on investing in financial markets. It’s like telling a 6-year-old; “I see you learned to ride a bike, let’s go see what you can do in an Apache Helicopter.” It might be fun to watch but it really is not a good plan and anything the kid may learn would be lost on him as it crashes to the ground.
You heard the familiar adage about “Give a man fish, you feed him for a day, teach a man to fish…..yadda yadda” Instead I will list a few resources that will make your journey an educational, well informed and hopefully, very profitable one:
Step 1: (estimated time to master:2-3 days of intense reading)
First get an entry level book… you know the type, it breaks stuff down so simply, it is almost insulting…yea that type! Check your library, as although these books are fantastic for the very low level learning, once you master it, you might not refer back to this one too often,
Something like this (not a shill for any author or publisher):
https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1118117859
Sure, it may be a bit dry and parts will seem numbingly simple but I guarantee you will learn a few new things, enhance your understanding of things you already know and begin building the most solid foundation you can. Like most things in life, the foundation will determine if your future efforts are sound or just primed for unforeseen disaster.
Step 1a: (estimated time to master:1-2 hours to learn, years of pounding it into your head)
Be able to define and clearly understand the concept of “Compound interest/growth.” I cringe at the number of people who fail to fully grasp this concept and the impact it can have your life and on the value of your portfolio. Study this concept like your life depends on it. Embrace it, love it, make it your bitch. This is the one and true monolith that stands taller than all others when it comes to taking a proper long term view of your investments. It is Wonka’s Golden Ticket. Once you think you are a Comp-Int ninja, learn it some more. Never lose sight of the goal and the primary mechanism that is going to get you to the promised land. Oh, and just to make sure you are beating this concept into your head, learn the meaning of “temporal dissonance” and how it relates to so many others failing to properly reach their goals. 30 years from now, you will thank me.
Step 2. (estimated time to master:1-2 weeks with additional web research to clarify questions and concepts)
Get another book or ten. One is good to start and should be directed more towards understanding actual beginner investment in stock markets.
https://www.amazon.com/Beginners-Guide-Investing-Money-Smart/dp/1477463992/ref=pd_sim_14_1?_encoding=UTF8&pd_rd_i=1477463992&pd_rd_r=M1PDAGCEZ704BBNQ6JDR&pd_rd_w=1YX5U&pd_rd_wg=dLc5n&psc=1&refRID=M1PDAGCEZ704BBNQ6JDR
or
https://www.amazon.com/Investing-Online-Dummies-Matt-Krantz/dp/1119228352/ref=sr_1_3?s=books&ie=UTF8&qid=1484793761&sr=1-3&keywords=online+stock+trading+for+dummies
or
https://www.amazon.com/Stock-Investing-Dummies-Paul-Mladjenovic/dp/1119239281/ref=pd_sim_14_6?_encoding=UTF8&pd_rd_i=1119239281&pd_rd_r=BZHS9CJZZWBRA86WN3MP&pd_rd_w=WSFFO&pd_rd_wg=rGrkD&psc=1&refRID=BZHS9CJZZWBRA86WN3MP
or find one YOU like…I am not a damn librarian.
When you are finished with this step you should be rather comfortable with most basic stock investing terms. Words like Equity, ETF, Mutual Funds, Preferred stock, Long, short will become part of your conversations at happy hour, chicks will dig you and guys will want to be like you. (I’m sorry, I just assumed your gender and orientation, please reverse that last phrase if it better suits your lifestyle). You will dream of S&P gains and have nightmares about the words: bear, correction and SEC investigation. In other words, you are now shaping up as a solid investor with years of prosperity in front of you. Alas, you are not there yet grasshopper…
(continued)
This is great advice. It's really important that you find a trading approach that fits your personality and that you aren't copying anyone just to do what they do. The psychological/emotional side of trading is really the most difficult piece to master and it requires that you be in tune with who you are and your decision making process. To begin that process, I highly recommend Trading in the Zone by Mark Douglas.
I echo what others have said, don't trade with what you can't afford to lose. Most beginning traders blow up accounts while they learn these lessons (I blew up several over the years). You have to REALLY want to do well in the markets to have staying power. This isn't something you will just learn in a couple weeks and be able to 'have some extra money'.
Lastly, don't listen to the haters. If you want this bad enough and are willing to put in the time to study and understand the drivers of your picks, AND have a solid approach to risk management you can do this. Learn WHAT moves the price on stocks you find -- follow the volume. (also recommend adding finviz to your arsenal). I've built up an account to 6 figures over the last year ( posted over here about it). Should you do this because it's easy? Absolutely not. It's fucking WORK but it's not impossible like many will tell you. See Jack Schwager's books (you will likely never be like those guys BUT you can learn valuable lessons from studying successful traders).
Leverage early in your accumulation phase helps diversify across time and actually lower lifetime risk. Margin calls are a real issue, but you don't have to borrow from your broker. There's a good book on the subject called Lifecycle Investing :
I'm worried this will come across as a shameless plug, but check out the book Millenial Money - I'm about 2/3 of the way through it and already feel like I've learned an immense amount about some of the risk/reward that comes from investing in the stock market, specifically that on a long enough timeline (which we in our early- to mid-twenties have the luxury of) most of my conceptions about the inherent risk of the volatility of the stock market are actually misconceptions.
Hey! it's the new reality! P/E 300 here we come!
In the mean time, just to make sure you won't sell early, check out some mandatory reading:
http://www.amazon.com/Dow-2008-Different-This-Time/dp/1893958701
Somewhat more speculative http://www.amazon.com/Dow-40-000-Strategies-Profiting/dp/0071351280/ref=pd_cp_b_2
and somewhere in between http://www.amazon.com/Dow-36-000-Strategy-Profiting/dp/0609806998/ref=pd_cp_b_3
and of course http://www.amazon.com/Real-Estate-Boom-Will-Bust/dp/0385514352/ref=pd_cp_b_0
You can message your giftee through the system and ask them what they want. If they don't answer, then I recommend History of Dogecoin!
I haven't watched this video yet, but if anyone would like to learn more about trading psychology the book 'Trading in the Zone' is brilliant.
The suggestions here aren’t very specific or helpful are they?
Start with the “for Dummies” series of books. Specifically stock investing:
https://www.amazon.com/Stock-Investing-Dummies-Paul-Mladjenovic/dp/1119239281/ref=sr_1_3?ie=UTF8&qid=1510966630&sr=8-3&keywords=investing+for+dummies+2017
I have no idea why that link is so long.
A random walk down Wall Street
I liked that book, but it is somekind similar to TII. What I remembred about that book is that a stock tend to be undervalued if the bonds pays the same rate, since the stock tend to have fewer investors who would invest assuming risk, they will prefer the bonds, but they overlook the stock potential growth. Off course, this is waaay oversimplified. And our market have P/E throught the roof now. Too much volability and speculation IMO.
I'm keeping my IPCA+ till the end of election and wait to make some good investment then. Maybe I'll hold some WEG stocks, since they are pioneering bus electrification in the country, they may get a spurge in the near future.
edit:grammar
Meus dois centavos,
Sucesso pra ti!
Just like the title of your post, I'd give the "Investing for Dummies" book a read. I really liked the one specifically geared toward those in their 20s & 30s. It does a great job of explaining what's what in the investing world without endorsing or opposing any particular method.
Please do not pay for anything. All public information is available to you to trade successfully. Before going through any course online, I recommend this book.
https://www.amazon.com/Reminiscences-Stock-Operator-Commentary-Livermore/dp/0470481595
I also wrote a few bitcoin articles on trading on my blog.
Seconded. Rule #1 has some good suggestions as to how to come up with valuation, plus technical indicators on whether to buy now or wait.
another article from nytimes
book on it as well
I am reading these ones now: https://www.reddit.com/r/Forex/comments/702czu/not_sure_if_posted_before_but_these_two_docs_are/?st=JEHRCHP2&sh=f1d7adf0
Really good.
This one is good too: https://www.amazon.com/Complete-Guide-Price-Analysis/dp/1491249390
Read this: http://www.amazon.com/Money-Stocks-Complete-Investing-System/dp/0071752110
Also, disregard the cheesy title and follow up the first book with this one: http://www.amazon.com/Insider-Buy-Superstocks-Turned-Million/dp/0615818455 (All about how to find explosive stocks before the rest of the market)
Most importantly, understand your risk and maximum loss point BEFORE putting on a trade.
https://www.amazon.com/Trading-Zone-Confidence-Discipline-Attitude-ebook/dp/B004H1TBCG
Exactly! I read all about it in this book, the bubble is not going to burst.
Crash Proof by Peter Schiff. He was (I believe) by far the most vocal and well documented person to predict the crisis.
You should start by reading The Bogleheads' Guide to Investing and A Random Walk Down Wall Street. Both are short reads and very useful for beginning investors.
These books, and most of the people at /r/personalfinance, will tell you that your best bet is to buy index funds. They will also point you to Vanguard, who generally has the lowest fees around. There are a couple of strategies that get advertised a lot:
In terms of your money, you should start by maxing your IRA and 401(k) contributions each year, and then invest however much more into a standard "taxable" account. Note that you generally want your bond holdings in a tax-sheltered IRA or 401(k). Also note that there are other companies that offer low-fee index funds as well.
My favorite: http://mises.org/daily/1533
and the motherload:
http://www.campaignforliberty.org/node/12362
All below links found in above article.
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Peter. Undated A.
href="http://www.google.com.au/url?sa=t&source=web&cd=1&sqi=2&ved=0CBgQtwIwAA&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3D2I0QN-FYkpw&ei=_hrjTLziIY-yuAOhptCTDQ&usg=AFQjCNHx7-0AWZCJ1qt-zzk_mzCxd1N7TQ">Schiff,
Peter. Undated B.
href="http://www.google.com.au/url?sa=t&source=web&cd=2&sqi=2&ved=0CB8QtwIwAQ&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DZ0YTY5TWtmU&ei=_hrjTLziIY-yuAOhptCTDQ&usg=AFQjCNGdqTK_duwEQoSeeTpRDjKK6ZZxIw">Schiff,
Peter. Undated C.
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Peter. Undated D.
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Peter. 2003A. Commentary, March
Schiff,
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Peter. 2003C. Commentary, June
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Peter. 2004A. Commentary, May
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Peter. 2004B. Commentary, June
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Peter. 2005A. Commentary, April
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Peter. 2005B. Commentary, July
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Peter. 2006A. Appearance on CNBC, January
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Peter. 2006B. Speech to the Money Show Conference, February
href="November;%20http:/www.europac.net/media/lectures_amp_debates/november_2006_mortgage_bankers_association_speech">Schiff,
Peter. 2006C. Speech to the Mortgage Bankers Assoc.
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Peter. 2006D. Mortgage Bankers Speech to the Western Regional Mortgage
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Peter. 2007B. Appearance on Fox News – January 12
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Frank. 2003. "Housing Bubble: Myth or Reality?" March 4
Shostak, Frank. 2005 "Is
There a Glut of Saving?" August 4
Thornton, Mark. 2004.
"Housing: too good to be true." June 4
Thornton, Mark. 2009. "The Economics of Housing Bubbles." America’s
Housing Crisis: A Case of Government Failure, Benjamin Powell and
Randall Holcombe, eds., Transaction Publishers
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Mark. Undated. href="http://search.mises.org/search?access=p&entqr=0&output=xml_no_dtd&sort=date%3AD%3AL%3Ad1&ie=UTF-8&client=default_frontend&q=mark+thornton+housing+bubble&ud=1&site=default_collection&oe=UTF-8&proxystylesheet=default_frontend&ip=68.186.192.60&start=0/oblocked::http://search.mises.org/search?access=p&entqr=0&output=xml_no_dtd&sort=date:D:L:d1&ie=UTF-8&client=default_frontend&q=mark+thornton+housing+bubble&ud=1&site=default_collection&oe=UTF-8&proxystylesheet=default_frontend&ip=68.186.192.60&start=0">
Trask, H.A. Scott. 2003.
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Woods, Thomas E. Jr. 2009. href="http://www.amazon.com/dp/1596981490?tag=lewrockwell&camp=14573&creative=327641&linkCode=as1&creativeASIN=1596981490&adid=01C7PNQXKSTT1NX5K0EY&">Meltdown:
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Stocks for now. I'm still pretty new but haven't done terribly lately. My dad loaned me this book and I started really slow.
This is a good book for you
W miarę ok ksiażka na podstawy: https://www.amazon.com/Investing-Dummies-Business-Personal-Finance/dp/1119431409
https://www.amazon.com/Rich-Retirement-Singaporeans-Invest-Wealthy-ebook/dp/B01JXW17ZM
Here's the website.
Hi Roy, such WOW! That's great news. There are some sources I stumbled upon in the last few moons. I will scrap them and send you in the next few days. In the meentime you can take a look here: https://www.amazon.com/Dogecoin-History-First-Christopher-Thompson/dp/1519667353 and here http://dogecointimeline.com/
Much greetings
Ivan
Goodluck!
If you want to learn more of the stress free trading, look for this book, I always recommend it to anyone. It's a fun, easy and relax way of trading. The guy who wrote that book is a dancer who made millions on stock market while doing the thing he love the most.
No problem! Did you see the edit I made with the pdf? That is a very comprehensive guide. If you find that interesting and want to read something more spot FX specific, I recommend this: https://www.amazon.com/Complete-Guide-Price-Analysis/dp/1491249390
(The kindle version is more than adequate)
> I keep hearing that "we're at the bottom right now,"
Don't listen to realtors or anyone at the NAR. It's a completely broken organization.
This is a book from their former chief economist (ahahahahaha): http://www.amazon.com/Real-Estate-Boom-Will-Bust/dp/0385514352
It soulds like you're looking for Peter Schiff's book, Crash Proof.
here's a good review.
A reference to the Trading Systems book. Can be found in .pdf format as well...
http://www.amazon.com/Trading-Systems-development-portfolio-optimisation-ebook/dp/B0052YFRGQ/ref=sr_1_3?ie=UTF8&qid=1409145749&sr=8-3&keywords=trading+systems
Really recommend this book. It's a fantastic read:
http://www.amazon.ca/When-Bubble-Bursts-Surviving-Canadian/dp/1459729803/ref=sr_1_1?ie=UTF8&qid=1427140405&sr=8-1&keywords=when+the+bubble+bursts
Lmao there’s a book about EXACTLY this:
https://www.amazon.com/Rich-Dads-Prophecy-Biggest-Yourself/dp/1612680259/ref=nodl_
Not 100% certain for either of them. Here are a couple of links:
Elements of Investing
Millennial Money
Has anyone read the book, "Lifecycle Investing: A New, Safe, and Audacious Way to Improve the Performance of Your Retirement Portfolio"?
https://www.amazon.com/gp/product/0465018297
The theory of it seems sound to me as long as you are willing to ride the volatility and comfortable with risk. At 24 years old, I'm really interested. Thoughts?
Dallas.
Yeah I probably misuse the term "private equity" - I've never known exactly what to say to tell people. Hedge fund isn't quite right either though, although I guess we're closer to a hedge fund than what most people think of as private equity. But, we do also have investments in non-public companies and own some real estate.
That first book I linked is a good lay person introduction to the field. But it just described the nature of the business more than actual contributing any ideas or details about how to do things.
If you wanted to learn about system creating in more detail I would recommend THIS one. Far more detailed and probably the best/most applicable real world approaches to some complicated topics and math.
I have been trading on and off for over 15 years. I found this book in a used book store 2003 and it completely changed the way I traded: How I Made 2 Million Dollars in The Stock Market
I don't tell many people that I trade, but when I do I'm generally asked, "isn't it just gambling?". Well, no, no it is not. If you stick religiously to a stop-loss rule, you will always have enough capital to 'fight another day'.
The concept for successful technical trading is very simple. You are trying to identify perfect setups, which will allow you to buy a stock just as it is starting to rocket upwards. If the setup fails, try to limit your loss as much as possible by selling the minute the stock falls x% below your purchase price.
There are also a gazillion other stock trading "bibles" out there. I would suggest reading as much as possible. However, nothing will force you to learn faster than having money in the market.
As others have noted, with the amount that you are starting with, you will need to move the money to Robinhood to avoid fees.
Good luck.
I am close to your age and about to inherit roughly 6 figures this week as well, and another sum in 5 years. I have taken business classes, my aunt used to work for H&R block, my boyfriend is a financial advisor, and I have had a financial advisor for ten years now . I am in NO way claiming to be Dave Ramsey or anything of the sort, but being in a somewhat similar scenario, might be able to provide some helpful feedback.
1st. Find a financial advisor or mentor. Look at your school and business professors, talk to your parents to see if they have recommendations, or reach out to people who can first hand give a reputable recommendation. This person is responsible for YOUR money- don't just hand it over to any one.
2nd. It may be tempting and I don't know how much business/financial knowledge you have, but I would not recommend paying off your student loans in full in one lump sum. If you don't have any credit, or have bad credit (really even if you have good credit, to maintain it), in order to build, recover, or maintain your score, the credit card, loan companies, etc, want to see that you are responsible with your money and are capable of making reoccuring, steady, reliant payments over the course of a period of time. They want to see that you MANAGE your money, not just spend it. You don't have to pay just the minimum payments by any means, but at least that, plus consistency is important to building/maintaining your credit.
3rd - A CD isn't a bad place to start, however, I would not let it sit there for much more than 6 months. Yes, they are safe and low risk, but the longer it sits the "higher the return" rate idea can be misleading. The value of the dollar today and the value of the dollar in ten years are going to be different. Therefore, the interest rate would have to increase rather significantly in order to truly come out on top to get a significant return in ten years. In most cases, and from what I've read and learned, that rate isn't significant enough compared to investing to feel that's my best route. With Savings and CD accounts, your money sits, your dollar loses it's value, grows slowly and an unsubstantial amount. Safe, Yes, going to get a great return if your looking for it, probably not.
4. Look into a Roth IRA account ASAP. You can contribute up to $5500/yr and when you retire, take out your money tax free as well. There is no up front tax deduction, and as long as you follow the rules there are no penalties and are tax free when you tap your contributions. This is a great way for young adults to save money for retirement, especially when they may not have a career or a job yet at all, or one that does not offer any sort of retirement plan.
5.Look into a Robinhood account. You manage your money and investments, and there is no commission fees to trade.
6. Educate yourself. Read, take personal finance courses online or at school. I highly recommend the book Millennial Money. It's incredibly informative and educational, especially for us millennials looking for advice on what our best route is. It does favor investing, but does a great job providing you with reasons why.
http://www.amazon.com/Millennial-Money-Young-Investors-Fortune/dp/1137279257
7. As far as some personal advice when it comes to spending--Remember-Just because you can doesn't always mean you should.
8. The less people know, the better. Even your friends. No one has tried to take advantage of me and my money, or given me hard or made me feel bad or guilty about my financial situation because everyone thinks I'm poor as shit lol.
8. Stay Humble, Stay Hungry.
Please feel free to message me if you have any questions or would like any more feedback on what I have experienced. I know not everyone would agree with my answers, and will probably have more formal, educated arguments, so please know my advice is simply from first hand experience, or thoughts from being in a similar situation for what has worked best for me, and MY plans for MY future. It's scary and I know the fear could be looming in you too about blowing it or not doing the absolute best and most with that amount of money, so I hope feel good about the decisions your make in the future. Sounds like you're on the right track.
Sorry to hear about your medical incident, hope everything is okay. Good Luck to you and your medical and financial future.
People who bought this book also bought: Why the Real Estate Boom Will Not Bust - And How You Can Profit from It: How to Build Wealth in Today's Expanding Real Estate Market
Stock Investing for Dummies.
https://www.amazon.com/Stock-Investing-Dummies-Paul-Mladjenovic/dp/1119239281/ref=sr_1_1?ie=UTF8&qid=1497379384&sr=8-1&keywords=stock+investing+for+dummies
We would recommend reading the Windfalls wiki page (it applies to large amounts of wealth in general, not just windfalls), following that advice, and educating yourself about investing using the resources linked in that article.
This book is often frequently recommended as well:
https://www.amazon.com/Consider-Your-Options-Equity-Compensation/dp/1938797027/
I recommend this book:
https://www.amazon.com/Consider-Your-Options-Equity-Compensation/dp/1938797027?keywords=consider+your+options&qid=1537799205&sr=8-1&ref=sr_1_1
Short answer: there is a possible tax savings if you exercise and hold for the required period because the gain will be treated as capital gains instead of ordinary income. But there's also a risk, because you owe AMT on paper gains if you don't make a "disqualifying disposition" by the end of the calendar year.
Rule #1?
I would head over to Amazon and read this book.
Also this sidebar.
The mortgage company can't evict you as long as you are making payments. Those payments are also structured at the beginning.
That's not at all true, in any sense, when talking about stock market leverage. The payments you have to make here are also often very large and there is no structure at all.
If you could somehow get into a position where you had 5% stock equity and 95% leverage in your margin account, any tiny dip in the account value would necessitate you writing a huge check OR that you lose your entire investment. The risk profile is off the charts.
If the market only ever went up, it would be a great idea to lever to the max in stocks. That's just not what happens.
There was somebody on a forum thread I read elsewhere that read an argument that 100% equity was sub optimal and that the proper equity percentage was higher than 100%. Something about some amount of leverage being optimal. Some kind of argument like you want to borrow to the max at some young age like in your teens and early 20s and then spend your life paying off that debt and letting the stocks you bought with that debt grow.
Somebody tried to test that theory by borrowing tons of money on CC intro offers and buying options that paid off when the market went up or something. That person somehow borrowed like 100k on CCs while in college and invested all of it. They were doing updates talking about how their risky investment strategy basically lost all the money and they still had all this debt they kept BTing around from CC to CC on dozens of cards.
The person ended up losing six figures plus interest/fees. Investing wise, it was a disaster. It's not clear if taking options out of the picture would have helped anything. They were getting margin calls left and right.
The guy came in later and said he somehow ended up going from there into some super high paid corporate finance job or something, so maybe it worked out OK, but I would really suggest focusing on the "disaster" part of that and that people don't just assume that they can get a 6 figures job once they play with that stuff. That was probably a one time thing.
Edit - Not that I agree with it, but sauce
https://money.usnews.com/money/blogs/planning-to-retire/2010/06/07/ian-ayres-why-young-people-should-borrow-to-invest
https://www.amazon.com/Lifecycle-Investing-Audacious-Performance-Retirement/dp/0465018297
The guy's name apparently was MarketTimer and he started his leveraged plan just before the crash in 2008.
I learnt a lot from reading Shiny Thing's thread in HWZ. And I went on to buy his ebook; it's also available on amazon: https://www.amazon.com/Rich-Retirement-Singaporeans-Invest-Wealthy-ebook/dp/B01JXW17ZM
I agree with this. Keep your costs down and follow a simple plan - Canadian Couch Potato is good, also these books are helpful references for investors making their own portfolio: A Random Walk Down Wall Street by Burton G Malkiel and Rob Carrick's Guide to What's Good, Bad and Downright Awful in Canadian Investments Today. If you don't want to bother learning even the basics, or have a small amount of money to invest, consider a robo-advisor.
http://www.amazon.com/Reminiscences-Stock-Operator-Commentary-Livermore/dp/0470481595/ref=sr_1_1?ie=UTF8&qid=1394302876&sr=8-1&keywords=stories+of+a+stock+operator
I think the market will drop because the baby boomers are selling their assets in order to live.
Read Rich Dad's Prophecy. I read the first version of this book back in 2002, but it appears to be revised. The crash of 2008/2009 and the resulting economy ought to make that update interesting.
The book talks about what will happen when all these baby boomers start drawing money out of the market so they can eat and pay the rent.
Here are some links for the product in the above comment for different countries:
Link: Rich Dad's Prophecy
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