(Part 2) Best investing books according to redditors

Jump to the top 20

We found 3,128 Reddit comments discussing the best investing books. We ranked the 612 resulting products by number of redditors who mentioned them. Here are the products ranked 21-40. You can also go back to the previous section.

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Subcategories:

Real estate investments books
Bonds investing books
Commodities trading books
Futures trading books
Introduction in investing books
Mutual funds investing books
Options trading books
Stock market investing books
Online trading e-commmerce books
Investment analysis & strategy books
Deviratives investments books
Investment portfolio management books

Top Reddit comments about Investing:

u/im14 · 1073 pointsr/AskWomen

Not saving any of my disposable income - if I invested even 10% of what I earned in my 20's I'd own a house now that I'm in my 30's, but instead I'm just now trying to catch up with that train.

EDIT: For those interested in learning to invest, I'll share some resources below. As for how I invest - I have 60% in high-interest 5-year CD account (about 3.1% APY) and the rest in mutual funds (VMVFX and VTMFX to be exact). I am putting 10% of my pre-tax income into my employer's 401(k) (they match some of contributions) and am contributing maximum amount possible to my IRA. Finally I keep about 5% of the cash in a savings account which provides a relatively low interest rate of 2% (but I can access that money at any time).

What I'm excited about: moving my investments to ESG (responsible environmental, social, and governance) funds. These funds carefully screen companies for negative impacts in that area - for example, tobacco and alcohol companies would be excluded, as would oil companies, and fashion retailers that use unsustainable labor practices. One such ESG fund is run by Vanguard - VEIGX.

Tips for saving: learn about concept of paying yourself first - that means automatic deductions into a savings account that you can't easily touch that happen after each of your paycheck. This has been the key to saving - automating it so that it's not something I have to think about - like a mortgage or bill payment - makes sure I don't spend the money meant to be saved. Do some budgeting to figure out where your money goes - there's lots of tools online, like Mint, that allow you to easily break down spending by categories and even set a budget. Estimate your living expenses (rent, food, bills, transportation) and prioritize saving for a 6 months worth of living in case of a job loss or accident. Learn about lifestyle creep and always live below your means - buy used not new, avoid cheaply made low quality products, think twice whether you really need the thing you're buying, can you get it used, can you borrow it? How much is the thing you're buying a liability in terms of maintenance, insurance, etc? Prioritize spending on yourself (experiences, learning, self-development) rather than on things.

Relevant reading:

u/cyanocobalamin · 107 pointsr/AskMenOver30

A checking account is for paying your bills, that is it. You are correct 20K is way too much. IMHO the best place to put it is into a mutual fund of an IRA. Now that you no longer have an active 401K you want to talk to a retirement specialist about setting up such an account. You can roll your old 401K over into it as well.


You don't want your emergency fund in a vanilla savings account either. Put it in a money market account ( not the mutual fund kind ). You will only get a few shekels in interest, but the money will be liquid.

Read a copy of Get A Financial Life. It is written for people who aren't interested in reading about money, but it teaches you the basics of personal finance.

A very good reddit for advice on personal finance:

/r/personalfinance

Since you are going to own a small business you might want to read up on money management for that too.

u/sdbest · 99 pointsr/investing

You could start with A Random Walk Down Wall Street.

u/csp256 · 62 pointsr/financialindependence

No, I am more interested in privately holding properties in IN and my hometown in AL.

That one is still a work in progress. Getting very close to pulling the trigger on my first property, though.

One of the more useful books I've come across is:

u/dave9199 · 54 pointsr/preppers

If you move the decimal over. This is about 1,000 in books...

(If I had to pick a few for 100 bucks: encyclopedia of country living, survival medicine, wilderness medicine, ball preservation, art of fermentation, a few mushroom and foraging books.)


Medical:

Where there is no doctor

Where there is no dentist

Emergency War Surgery

The survival medicine handbook

Auerbach’s Wilderness Medicine

Special Operations Medical Handbook

Food Production

Mini Farming

encyclopedia of country living

square foot gardening

Seed Saving

Storey’s Raising Rabbits

Meat Rabbits

Aquaponics Gardening: Step By Step

Storey’s Chicken Book

Storey Dairy Goat

Storey Meat Goat

Storey Ducks

Storey’s Bees

Beekeepers Bible

bio-integrated farm

soil and water engineering

Organic Mushroom Farming and Mycoremediation

Food Preservation and Cooking

Steve Rinella’s Large Game Processing

Steve Rinella’s Small Game

Ball Home Preservation

Charcuterie

Root Cellaring

Art of Natural Cheesemaking

Mastering Artesian Cheese Making

American Farmstead Cheesemaking

Joe Beef: Surviving Apocalypse

Wild Fermentation

Art of Fermentation

Nose to Tail

Artisan Sourdough

Designing Great Beers

The Joy of Home Distilling

Foraging

Southeast Foraging

Boletes

Mushrooms of Carolinas

Mushrooms of Southeastern United States

Mushrooms of the Gulf Coast


Tech

farm and workshop Welding

ultimate guide: plumbing

ultimate guide: wiring

ultimate guide: home repair

off grid solar

Woodworking

Timberframe Construction

Basic Lathework

How to Run A Lathe

Backyard Foundry

Sand Casting

Practical Casting

The Complete Metalsmith

Gears and Cutting Gears

Hardening Tempering and Heat Treatment

Machinery’s Handbook

How to Diagnose and Fix Everything Electronic

Electronics For Inventors

Basic Science


Chemistry

Organic Chem

Understanding Basic Chemistry Through Problem Solving

Ham Radio

AARL Antenna Book

General Class Manual

Tech Class Manual


MISC

Ray Mears Essential Bushcraft

Contact!

Nuclear War Survival Skills

The Knowledge: How to rebuild civilization in the aftermath of a cataclysm

u/billFoldDog · 42 pointsr/personalfinance

You really need to read the personal finance wiki.

First, get some tax advantaged savings going. You have a lot of options, but picking any option is better than picking no options. While you are educating yourself, here are some alright choices you can make for this year:

Open a ROTH IRA

  1. Go to Vanguard.com and follow the instructions to open an individual ROTH IRA
  2. Contribute you max for the year (probably $5500 for you)
  3. Vanguard will ask you to put that money into an account of some kind. That account will hold your money's worth of stocks or bonds. I would get VFINX with is an S&P500 fund. This is a single fund that disperses your risk over the top 500 funds as measured by Standard and Poors. It is a very safe investment with a yield of around %5-%7 over long time horizons.
  4. Forget about that money until you retire.

    Does your company have a 401K? You need to get money into it.

  5. Talk to your employer about increasing your contribution to whatever it will take to reach $18500 by the end of the year
  6. Make a plan to live on the $24.5K you have remaining in your bank account after the above ROTH IRA contribution

    At the end of the year, you will have reduced your pre-tax income by $18500 and you will have $5500 in an account you can withdraw from tax free after you turn 59.5 years old. The ROTH IRA will grow tax free from now until when you retire.

    NEXT STEP: GET EDUCATED

  7. Read the entire personal finance wiki. Its pretty good and gets to the point.
  8. Read Get a financial life. The book is cheap and a nice intro for young people doing personal finance. It isn't comprehensive, and its not the last book you'll read. This book will tell you how to handle debt, save for retirement, buy a car, and it will help you save to buy a house. Once you have read it and have a solid understanding, you should keep seeking out personal finance knowledge.
  9. If you plan on buying a home, go to a home-buying class. Your city will probably put some on in the local library.
  10. Keep finding and reading books about personal finance.
u/elbyron · 33 pointsr/PersonalFinanceCanada

First of all, don't bother with your friend's financial planner. They are just going to try and sell you on whatever funds have had strong recent performance, show you pretty charts, and make you feel good about investing with them. It's all sales tactics, not so dissimilar from those of a used car salesman. They make it seem like they are offering all this wonderful help for free, but they do get paid - and it'll come from your investments in the form of trailer fees that the mutual funds pay out to them. Much like the car salesman starts to panic when you ask to look under the hood, if you were to start asking the financial planner about management expense ratios and why he doesn't recommend index funds, you'll probably get one of two responses. Either they will be dismissive, making it seem like the fees are negligible relative to the great performance their promising you (but no guarantees of course), or they will be a bit more honest about them but argue that the higher fees are worth paying in order for you to be given their oh-so-valuable advice. It's all a load of BS - anyone can very easily learn the basics of DIY investing, and even those who don't want to are still better off with a robo-advisor like WealthSimple or JustWealth, who believe in keeping your fees to a minimum and instead of collecting hidden trailer fees, they are very up-front about what they charge for their service.

I don't think you really need a person to hold your hand though. Your initiative indicates to me that you have what it takes to learn what needs to be learned, and handle things yourself. Start by reading the two books you picked up - that will answer some questions and give you a solid foundation for learning more about investing. Then I highly recommend an eBook called The Value of Simple, which you can get from Chapters, Amazon, or from the author's website. It goes more into detail about DIY investing strategies, focusing mainly on TD eSeries and buying ETFs with Questrade - the two most cost-effective methods. Tangerine's investment portfolios are fine for starting out with, but at 1.07% MER and another 0.03% trading fees, it's still a bit on the costly side (though nowhere near the MER costs of a BMO fund).

Since you mentioned buying a house in the next 5+ years, I wanted to add some words of caution: any money that you want to save towards the new house should be kept relatively safe, in low-risk investments or guaranteed ones like GICs or high interest savings accounts. 5 years is simply too short of a timeframe for investing in equity. Your RRSP and other retirement funds can certainly take on a lot more risk, since you won't need that money for a long time.

u/excited_by_typos · 30 pointsr/wallstreetbets

i learned a lot from these two books:

https://www.amazon.com/gp/product/B00GWSXX8U (how options work)

https://www.amazon.com/gp/product/B007STBH58 (how not to be a retard)

if you're doing options you have to understand how they're priced (intrinsic vs extrinsic value, time decay, implied volatility, etc).

other than that, just practice and feel the pain of losing money. find out what works. first time i did options, i lost 3k and wanted to kill myself.

u/Dasque · 27 pointsr/Shitstatistssay

>The rich pocket the money

Here's a book for them

u/jakpuch · 22 pointsr/news
u/MakeoverBelly · 14 pointsr/wallstreetbets

"Dow 36,000: The New Strategy for Profiting from the Coming Rise in the Stock Market", 1999

https://www.amazon.com/gp/aw/d/0812931459

"Dow 40,000: Strategies for Profiting from the Greatest Bull Market in History", 1999

https://www.amazon.com/Dow-40-000-Strategies-Profiting/dp/0071351280

"Dow 100,000: Fact or Fiction", 1999

https://www.amazon.com/Dow-100-000-Fact-Fiction/dp/0735201374

u/grapeape25 · 11 pointsr/uwaterloo

If you're just looking to learn instead of fulfilling a degree requirement then it is a probably more useful to pickup a book and do it yourself.

Some useful subs:

u/GenderNeutralPat · 11 pointsr/AskMen

Get A Financial LIfe. A personal finance book for people who don't like reading about money and who are just starting out in the world.

In general you should establish an emergency fund before you move onto other financial projects. Ideally, you should be able to live off of your emergency fund for 3 months should you lose your job or otherwise be unable to work.

u/RickRussellTX · 10 pointsr/Economics
u/ninepound · 10 pointsr/metalworking

For once, I'm actually useful! I just set into this myself and I've found this book to be more than everything I could ever want to know on the subject, with a great bit of information specifically on lost wax. This one by David Gingery (who has several other excellent books for the home foundry) details the basis of the kiln I intend to build much more inexpensively than they can be bought, with the added benefit of being completely scalable to any size of project.

While you're waiting for the books, I can't recommend www.backyardmetalcasting.com enough either. Some of the links are now defunct but there are lifetimes of information there. YouTube, too, I've found found to be a surprisingly good resource when it comes to metal casting.

u/Viper0us · 10 pointsr/personalfinance

A 1.83% Expense Ratio is insanely high, and you will be losing $1000s of over the course of your investment (20-30 years)

  1. Transfer all money to a low-cost provider such Vanguard, Fidelity, or Schwab.
  2. Decide on whether you want to manage your allocations manually (go to step 3-4) or let a target retirement fund (skip to step 5) do it for you.
  3. Read the 3-fund portfolio wiki on Bogleheads
  4. Read If You Can: How Millennials Can Get Rich Slowly. The Kindle edition is $0.99 without PRIME and free with PRIME.
  5. Take your research from 3/4 and Invest in low-cost index funds to build good portfolio diversification OR select the target date fund at Fidelity/Vanguard/Schwab that meets your retirement age (set it and forget it)

    If you are unsure how to do step 5, even after reading the information in 2/3, post a new topic for help and tell us which low-cost provider you selected.

    Any of the 3 firms can assist you in transferring your assets.
u/Doso777 · 10 pointsr/Finanzen

Blogs, hier eine Metaseite: http://finanzblogroll.de/
Youtube Kanäle wie Aktien mit Kopf, Finanzfluss, Talerbox
Bücher z.B. das hier https://www.amazon.de/Souver%C3%A4n-investieren-Indexfonds-ETFs-Book/dp/3593508524

Und das wichtigste: Selber nachdenken.

u/ericbn2011 · 10 pointsr/IWantToLearn

I 100% agree with all of the above recommendations for Bogleheads but I'd also recommend The Simple Path to Wealth by J.L. Collins.

It boils down to low cost index funds. Invest there and watch your money grow. Good luck.

u/nomowolf · 9 pointsr/eupersonalfinance

I'm gonna echo what u/StrukkStar said. If you think through your assertion carefully the logic doesn't hold up.

I currently have a similar amount of savings as yourself, but by the logic of your post I should take it all out now, right? The fees to sell with my broker are minimal so there's really nothing holding me back. Literally there is no difference between our situations except inertia. So don't I?

Because the market on average is going up, and I can't predict how it will behave. If teams of quants and high paid executives and high performance machine-learning algorithms looking through reams of data can only get it right 50.001% of the time, then my thinking I can speculate better is pure hubris.

So what do you do? Reduce risk with dollar cost averaging? That is invest a portion of it every month to reduce your timing risk? There's three situations that can happen then:

    1. The market goes goes down, well you shouldn't have invested then. And so what if you did, you're saving for retirement, in a year or two it will have averaged out.
    1. The market stays the same. Then it makes no difference whether you lump-sum it in or drip-feed it.
    1. The market goes up... well... you missed out on those gains man... and the future gains those gains could have earned you, and the future gains the gains of those gains would have earned you, and so on.

      And since the market, on average, always goes up, it's just a bad bet to not be investing your cash.

      If I was in your situation, I would confidently put it all immediately into exactly the portfolio I have now, because otherwise I should sell the portfolio I have now. If you want to really lower your risk against say a deflationary economy, then you can throw a portion ~10% in bonds. It won't do much harm.

      But honestly, for someone in their 30s in the wealth accumulation phase of their life, you have the luxury to wait out any potential recession. The maths says throw it all into a low-cost well-spread full world stock-market ETF, and hold fast, it will be a bit of a wild ride at times but just don't panic, don't do anything rash, and it will be worth it.

      As you get older and closer to retirement (wealth maintenance period) then 30% bonds is a good number. But I'd start with 90%-100% in stocks and hold fast. Do your research if you need to be convinced on the numbers for this. Or read The Simple Path to Wealth by JL Collins (I thought the audiobook was great).


      Also can I ask you a question: what do you do and what region of the world do you live in? Sounds like the dream.

u/RoseGoldStreak · 8 pointsr/personalfinance

Can I make a couple of suggestions? First, read "If You Can: How Millenials Can Get Rich Slowly" If you don't want to pay the .99 for it on kindle then you can also find it as a PDF online (the author wrote it to be free.). It's very well reviewed by just about everyone (including the NYT and Forbes).

https://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI

Second: Start an IRA. Yes it's harder to get money out, but it will mean you don't have to use that money for college.

Third: Think about what will make your life easier in the next five to ten years and save towards those goals.

u/bananabomber · 8 pointsr/vancouver

Pyramid scheme recruiters know who to target: anyone who's young, naive, or struggling with money. I know at this point that's pretty much an entire generation's worth of people in Vancouver, but don't underestimate the power of desperation.

Here's a quick cheat sheet to figure out if the new person you just met is a pyramid scheme/MLM recruiter:

  • They may call themselves a life coach instead of a mentor. Or if they're really delusional, claim to be entrepreneurs/business owners and decline to be specific.

  • They really believe in dressing for success, so regardless of situation, the most ambitious scammers are always perfectly groomed and wearing something more suitable for a night at a high class lounge. Men will be in flashy suits and wingtips, while women will be in cocktail dresses and heels. Of course, not all of them dress like this -- it can also range from smart casual to business casual. If you're a new immigrant to the country and a very nice, "rich-looking" white guy offered to share the secrets of wealth with you, are you going to turn him down?

  • They often work in pairs -- dating/engaged/married couples. It projects a more trustworthy image to their target. They'll share their personal histories (where they're from, how they met each other, etc.)

  • If you do go for coffee with them, they'll greet you with a hug (and you'll get another one at the end of the meeting before you leave.) I know it's weird to point out, but every pyramid scheme meeting I've ever spectated/eavesdropped on does this for some reason. A cheap method of building rapport, I suppose. It creeps me out because it just oozes fakeness.

  • They'll ask if you've ever read any of Robert Kiyosaki's books, specifically Rich Dad, Poor Dad and The Business of the 21st Century. If not, they'll generously offer to lend you a copy. The Go-Giver and Pro-Sumer Power are also books they try to peddle, but definitely not as much as the first two. Basically any motivational/self-help/finance book or audio tape they suggest is a red flag.

  • They'll never say the name of the scam company they work for in the first meeting. They realize the stigma attached to "Amway", "Primerica", "Herbalife", "World Financial Group", or "ACN". They want to hook you on first. It'll be much easier to convince you that all the bad things you hear or read about online about Amway are lies if you've chosen to drink the kool-aid on your own free will.

  • They'll try to impress and talk about flying off to attend conferences in pseudo-exotic places. My cousin's an audio tech and he gets hired to work a shit ton of MLM events at hotels in Vancouver.

    But seriously, when in doubt, just use google.
u/monstehr · 8 pointsr/pics

throwaway (despite the name) is legit.

If you want to know more about the stock market and why index funds are where it's at, check out A Random Walk down Wall Street. You learn things like 80% of "managed" mutual funds perform worse than index funds. not only that, managed funds charge much more in the way of fees, effectively charging you more to lose money. He also investigates if the stock market is correlated with fashionable skirt length in women or the superbowl champion (yes these are real theories).

If you want to learn more about personal finance, check out The Richest Man in Babylon. To this day one of my favorite books. If you let money be your master, you will always be a slave. If you are the master of your money, no one can ever own you. fuck yeah.

u/Beren- · 8 pointsr/SecurityAnalysis
u/krynnul · 8 pointsr/business

Munger also wrote an excellent book.

u/amlucent · 7 pointsr/realestateinvesting

This book is very good, admittedly I haven’t actually done it yet but I’m planning on it.

https://www.amazon.com/Long-Distance-Real-Estate-Investing-State/dp/0997584750

u/TheFrankLapidus · 7 pointsr/financialindependence

Has anyone read The Index Card? I just listened to the Freakonomics podcast featuring the author and it seems like it might be a better primer to give away as gifts to my nieces/nephews compared to Dave Ramsey (I like most of his concepts, not the evangelizing).

u/albh · 6 pointsr/vancouver

Before you even go to a financial advisor or one that any Redditor might post to recommend as friends, go borrow these books from the library for a read so the investment world makes sense to you when you do talk about money with a planner and want to make sure you're getting good advice:

http://www.amazon.com/Intelligent-Investor-Definitive-Investing-Practical/dp/0060555661

http://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393081435

http://www.amazon.com/Warren-Buffett-Way-Second/dp/0471743674

If you're really lazy, at least read the first one.
If you're really, really lazy. Follow this blog for a bit http://canadiancouchpotato.com/

After that, only then should you take referrals and recommendations. Go to a few, and armed with some knowledge, you'll be much prepared to sift through advisors that are trying to bullshit you for front-loaded commissions, etc.

u/randombits · 6 pointsr/Silvercasting

Not a task to be undertaken lightly. You will likely spend more money on tools and supplies than on actual silver. It's fun as heck, though, and learning the process is it's own reward.


To see what kind of hell process you're getting into, I recommend Practical Casting: A Studio Reference by Tim McCreight. Welcome and good luck!

u/xsvspd81 · 6 pointsr/realestateinvesting

There are a few schools of thought. On one side is the BRRRR method, where you leverage your properties to build your portfolio. Its riskier, but allows you to build quickly.

Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple https://www.amazon.com/dp/1947200089/ref=cm_sw_r_cp_apa_i_JQSHDbXM4BE7R

The other end of the spectrum is Dave Ramsey's method, of paying cash in full for all your properties. It ties up your cash, but, if the market takes a down turn, you can afford to rent it out for the then market rates. Its far less risky, and slow to start, but most of your rental income is profit. And once you get a few paid for properties, the income starts rolling and you can build as big as you want.

The Total Money Makeover Workbook: Classic Edition: The Essential Companion for Applying the Book's Principles https://www.amazon.com/dp/1400206502/ref=cm_sw_r_cp_apa_i_8SSHDbWCFDPG8


This one was on a list of recommend books

The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing! https://www.amazon.com/dp/099071179X/ref=cm_sw_r_cp_apa_i_yoSHDbKZR7WT0

u/Secret_Work_Account · 6 pointsr/investing


Read this First - This is an infograph that summarizes every financial blog/book I've looked at.

Books I've read that have been very helpful

  1. I will teach you to be rich - I've reread this multiple times. Covers almost all things finance that you'll need to know in your 20's + 30's. Totally worth the money!

  2. Beginners Guide To Investing - Breaks down investing in a very straightforward way
  3. Rich Dad Poor Dad - Very Cheesy, but hits some great thoughts on how rich ppl perceive money, are willing to talk about it, and how they grow money faster than the poor and middle class
  4. Your Money or Your Life - Haven't finished (feels a little dated, but hits some really good points on how to think of money and why you should change your habits)

    Books I haven't read but ppl reference:

  5. A random walk down wall street - Why investing in single stocks is foolish
  6. Possum Living - How to live cheaply
  7. Dave Ramsey or Suze Orman - Both have very popular philosophies and spending strategies that are referenced all the time.

    Sites to Reference:

  8. Mr. Money Mustache - All Financial Independence websites reference this site.
  9. Money Under 30 - All things Personal Finance for our age group
  10. Investopedia - Helps with the basics

    Reddit: (Search Top Posts All Time)

    /r/financialindependence

    /r/Personalfinance

    /r/FinancialPlanning
u/RockyMcNuts · 5 pointsr/SecurityAnalysis

It's OK to put in 1% as a learning experience.

A professional investor would typically put in a somewhat larger amount if there is a real edge.

One approach is the Kelly criterion, which says that if you want to maximize the growth rate of your portfolio over the long run, the amount to invest is edge/odds. In other words, if you have a big edge you invest more, if the risk/volatility around that edge is high you invest less.

However, even assuming you actually know the edge and odds accurately, the Kelly criterion position size takes a LOT of risk and volatility to maximize your growth rate. In general you would have an x% chance of losing 1-x% of your entire stack at some point in the future, ie a 50% chance of losing 50%, a 10% chance of losing 90%. Nevertheless, if you lived forever, that's the risk you would want to take to maximize your growth rate.

On the one hand, the Kelly Criterion, the long run persistence of an edge in equities in the form of the equity risk premium, and an understanding of human psychology all suggest that people don't really take enough risk.

There are 2 very good and a few not-so-good reasons to take less than the Kelly-optimal risk.

The first is you don't live forever, and it's perfectly rational to give up a big chunk of the growth rate for a MUCH lower risk of blowing up and impacting your lifestyle and opportunities of your loved ones.

The second, which is most important, is that you never really know the edge and the odds, best you have is a guesstimate. And if you take even a little more risk than Kelly-optimal, you will fall prey to the gambler's curse. Consider what happens if I give you a coin-flip where I give you 5x on your money when you win. If you bet all your money on each flip, you are guaranteed to go broke. Bet even a little too much, and you magically turn a huge edge into a guaranteed big money-loser.

But most people never even approach Kelly-optimal betting. They are risk-averse, and extremely loss-averse. Pro money managers could never tolerate the swings involved.

Warren Buffett put something like 40% of his portfolio into American Express in 1963. His view of value investing is to invest as if you have a lifetime 20-hole punch card. Every decade-ish long market cycle, you will have a few really great opportunities. Invest so at the end of your lifetime investing career, you'll have accumulated 20-odd meaningful positions in really great companies.

It's worth pointing out that EVERY time Buffett has underperformed, there has been a litany of articles about how he has lost his touch. Partly it's because it makes interesting copy, and people love to build heroes up and tear them down. But partly it's because the game involves taking risk and sometimes pain in the short run. And non-investors don't get that. You're an idiot if you underperform in the short run. Value investing works in the long run because it's hard and inflicts pain in the short run.

For the apprentice investor, it's even harder. So it's important to keep bets no larger than your personality can comfortably withstand. If 1% is it, that's what it is. Don't look for approval from anywhere else. It's good that you are erring on the low side...a lot of people get overconfident and then blow up, or blow out a good position because they can't stand the pain when they are down.

Over time, you want to get more comfortable trading closer to a Kelly-optimal size, without going over the edge of your personal pain threshold. As a small investor, you have some disadvantages in information flow, resources to apply to investing, but you have a big edge: the only person you need to please is yourself. You don't need to do a goddamn thing if you don't want to, you can be opportunistic and you can take as much or as little risk as you like. Personally, playing poker helped me a lot ... you get an intuitive feel for how often you're going to lose when you have the edge, and get comfortable betting big when you have that edge, because you know in the long run it's going to work out.

Also recommend William Poundstone's Fortune's Formula, which is an awesome read on Bell Labs' Kelly and Shannon, who invented information theory, and applied it to investing along with MIT colleague Ed Thorp, who invented blackjack card-counting and started one of the first, most successful hedge funds, and the occasional mafioso and degenerate gambler.

And you won't go wrong reading all of Buffett's essays and letters.

http://www.amazon.com/Fortunes-Formula-Scientific-Betting-Casinos/dp/0809045990/

http://www8.gsb.columbia.edu/rtfiles/cbs/hermes/Buffett1984.pdf

http://www.amazon.com/The-Essays-Warren-Buffett-Corporate/dp/0966446119

[TL; DR] Bet small while you're learning. Get comfortable with taking risk when you really know what you're doing and have an edge. Learn the Kelly Criterion. Read Warren Buffett. Play some poker.

u/TheThinboy · 5 pointsr/metalworking

Not bad for a first try.
There are a number of simple casting material pewter can go into but one of the cheapest is plaster. A well made plaster mold will survive several dozen pewter casting if treated properly.

You can buy a 15 or 25 lb bag at the local big box hardware store for under $20, or smaller amounts from an art supply store, though it will cost more per lb.

PLASTER MOLD NEED TO BE BONE DRY BEFORE YOU POUR HOT METAL INTO THEM THEY CAN EXPLODE OTHERWISE. Please wear the proper safety equipment, the bare minimum of a face shield and leather gloves,ideally with an leather apron and leather boots. How long it takes to dry depends upon the size and thickness of the mold and the humidity level . A 3"x 5" x 5" mold will be dry in about 5-7 days if it is not too humid. A way to speed it up is to put your oven on its lowest setting and leave them in there for 8-10 hours. They will be significantly lighter when dry, and will have feel a bit like fired clay.

You might consider making 2 part molds there are a great deal of references out there for that info, here is a video that covers the basics. (this video for clay reproductions but the basics still apply. You would additionally need to also carve or cast in a pouring cup and channel called a gate or sprue into the plaster to allow you to pour in the pewter.)

There is scattered info on mold making on the web, but plenty of solid books on the topics. I would recommend The Prop Builder's Molding & Casting Handbook
It doest talk too much about metal casting, but it covers a lot of the info for general mold making, and is a great resource. You might also look into Practical Casting: A Studio Reference by Tim McCreight is deals with metal casting on smaller jewelry scale and covers other simple molding materials.


I have also heard MDF molds work pretty well for a few trys, though I never have done it personally. Good luck!

u/russilwvong · 5 pointsr/PersonalFinanceCanada

If you're new to investing, I wouldn't recommend that you start with a high-risk, undiversified investment like weed stocks. Here's a brief introduction that I wrote up.

Investing basically means lending out your money, and getting some kind of return on it.

There’s two kinds of investments: debt and equity. With debt, you lend the money and get a fixed rate of interest. With equity, you buy a small slice of a business and get a share of its earnings. Typically the business will pay out some as a cash dividend and reinvest the rest to expand its business (for example, by buying or building another factory), causing its value to grow.

Either way, the value of your investment compounds over time. The rule of 72 says that if your annual return is x%, then it takes about 72 / x years for your money to double. At 5%, for example, it doubles every 14 years or so. So if you can invest $10,000 at 5% and not touch it for the next 40 years, it’ll double a bit less than three times, increasing to $70,000.

Equity investments are volatile: they go up and down. So investors aren’t willing to pay as much as for debt investments, resulting in a higher return on equities. In the long term, equity investments grow faster than debt investments. You take a higher risk and get a higher return.

There's different approaches to investing in equities:

  1. Stock picking - you look for companies which you think are undervalued, i.e. selling for less than they're worth, and buy their shares.

  2. Buy a mutual fund - a mutual fund is run by a manager who actively decides what companies to invest in, spreading your investment over a larger number of companies. Charges an annual fee of 1-2%.

  3. Buy an index fund - an index fund has much lower fees (0.25% or less), because you just buy a small slice of all companies in the stock market ("passive investing"). There's no need to pay a manager and their staff to look at each company and decide whether it's undervalued or not.

    A common approach is to keep your costs low by just buying index funds. Stock picking is hard: it's like trying to find a diamond in a field that's already been searched by an army of professionals. With mutual funds, you’re paying a lot. When your expected average annual return is around 5%, 1-2% is a big chunk. And because stock picking is hard, mutual fund managers have a very hard time doing better than average.

    Index funds are liquid (you can sell them easily) and diversified (you’re not going to lose all your money if a single company or a single economic sector does badly).

    You probably don't want 100% of your retirement savings in equities, because they go up and down, which can be pretty hard to take. (You don’t want to panic and sell whey they’re low.) A common recommendation is to keep 40% or 50% in bonds (interest-paying debt investments), which are less volatile, providing some stability and reassurance when the stock market is going through a meltdown.

    The Vanguard Balanced ETF Portfolio fund, VBAL, is a simple, hands-off way to keep your investments 60% in equities, 40% in bonds, with annual management expenses of about 0.25%. (If you want a different allocation, VGRO is 80% equities / 20% bonds, and VCNS is 40% equities / 60% bonds. iShares and BMO also offer asset allocation funds.)

    For a step-by-step guide, I'd recommend John Robertson's book The Value of Simple: A Practical Guide to Taking the Complexity out of Investing. (He comments here as /u/HolyPotato.)
u/DrChimRichalds · 5 pointsr/realestateinvesting

I’m wrapping up a book on long distance real estate investing and I think it sounds like a pretty feasible thing to do. The book: https://www.amazon.com/Long-Distance-Real-Estate-Investing-State/dp/0997584750.

His basic thesis is that with current technology you can set up a system and team that will allow you to avoid the pitfalls associated with being far away from your investment. He suggests finding a realtor, property manager, contractor, and lender in the given location and using them as your eyes on the ground, while also using each of them as a check on the other (e.g. if your realtor tells you a house will make a great rental, make sure you run it by your property manager).

The big advantage is that you get to pick a market that suits your real estate investing goals. I’m in a major metropolitan coastal city so it’s basically impossible to find properties that will cash flow with the amount of money I have to invest. That’s not true in many other parts of the country, including several that are expected to see population and economic growth.

I found the book to be a little repetitive and not particularly well written, but well worth the $16.

u/SconerJunior · 5 pointsr/financialindependence

I think behavior risk may be the greatest hurdle in one's quest for FI. People want your money really badly and they'll do things like try to convince you to finance a car or mortgage a house thats 30 minutes from work, and those just aren't good strategies for someone who is striving for FI.

Reading MMM, ERE, BogleHeads, and Raptitude helps keep me focused and motivated. Also, books by William J. Bernstein. They're really booklets more than books as they're concise but chock-full of information relevant to younger people on their path to FI. He has one specifically for millenials: http://www.amazon.com/gp/product/B00JCC5JKI/ref=docs-os-doi_0

u/Nostrabrahmus · 4 pointsr/investing

Don't get me wrong, I absolutely understand you are young and need guidance. I was 17 when I started investing as well.

I can give stock recommendations all day but I can give you two really good pieces of advice right now.

1: Read. Read everything you can. The Intelligent Investor by Ben Graham is the bible of value investing. Warren Buffet himself said that this was the best book on value investing he's read. Read this book. Also, read Rich Dad Poor Dad This was the single most influential piece of literature I've ever read.

2: Be extremely careful who you take advice from. Just because people are older doesn't make them smarter. You want to find people who have exactly what you want for yourself. These people are worth taking advice from. The average person is an idiot, and they all think they know the right way, and yet they all are slaving away at jobs they hate that "don't pay them enough". This could even be your parents or friends. It may be hard to reject their advice. They may not even realize that they don't know what they are doing. Again, you want to learn from people who have exactly what you want.

u/[deleted] · 4 pointsr/explainlikeimfive

Long is when you buy an asset in the hope that its value will increase. Buy low and sell high. It's the form of investing in stocks that everyone is familiar with.

Short is when you approach someone who is holding assets long, deposit money with them, and take possession of one of their assets to sell on the open market. You hope the price of the asset goes down rather than up. Once it goes down, you buy it back, and return it to the person you borrowed it from. Sell high and buy low.

You short an asset if you think it's overvalued and its price will soon go down. Shorting an asset doesn't actually make the price go down. The reason the person who owns the asset is willing to let you short it is because they have you pay them a fee, deposit an equivalent cash value with them and promise to return it, so it causes them no harm. If you're wondering why they don't just sell an asset that you indicate is expected to decrease in value, it's because either they think you're wrong, or more frequently because they're institutional investors that hold a broad swath of assets, and don't try to buy and sell on every fluctuation in prices. A Random Walk Down Wall Street describes this broad buy and hold strategy in great detail.

u/Kassul42 · 4 pointsr/PersonalFinanceCanada

tl;dr, my advice would be to take 3 deep breaths and not be in a huge rush. Don't dilly dally for no reason, but take a little while and educate yourself on what options you have. The reading list in the sidebar is a very good start. Stuff like Millionaire Teacher(new version just came out this year) will help you understand what you're investing in, why you would chose one method to invest over others, etc... Spending a few bucks on those books(or better yet, get as many as you can from a local library) will save you a heck of a lot over the course of your life.


You certainly can invest through CIBC. Either through an advisor there, or a self-directed system where you control things more directly.

But just because you have a savings account with CIBC doesn't you don't need to invest with them though! You have a few different options besides them.

An increasingly popular method is to use a roboadvisor like Wealthsimple. They charge a % of the value of your investments as their take, but they also do all the buying and selling and whatnot for you which might help keep you from doing something Silly(a lot of folks do). Silly things might include putting all your money into whatever country/sector/company has been really hot lately under the assumption that it'll keep going up forever(it probably wont!)

Or to save a bit more money you can open an account with TD and invest using their e-series mutual funds. They're quite cheap in terms of fees(for Canadian mutual funds anyway, we're used to paying through the nose for stuff like this).
Once you have that account set up you just pay your TD account number through CIBC's bill payment just like you would a phone bill or whatnot. Then once they money is in your TFSA/RRSP/Taxable account you use them to buy the appropriate funds.

Then if/when you want to really save some cash, and can be online during 'market hours' going to Questrade is a popular choice. That way you can use rock-bottom cost Exchange Traded Funds(think mutual funds, but they trade like individual stocks) and you aren't paying any significant fees to buy those.

But seriously, read a couple of those books(and make one of them Millionaire Teacher). If the how-to of investing with TD or Tangerine or Questrade is confusing to you, or you want more info on that sort of thing, The Value of Simple is a good book to get too. The e-book version gets more updates due to the realities of printing costs, but the author has a bunch of new/edited info on their website.

Finally, as to WHAT to invest in, most folks in here follow something along the lines of a Couch Potato strategy.

u/Andrewbot · 4 pointsr/RealEstate

Released just last year, I really like Bigger Pocket's book on rental property investing. Very specific when it needs to be with an active investor who is walking the walk as the author.

https://www.amazon.com/Book-Rental-Property-Investing-Intelligent/dp/099071179X?ie=UTF8&ref_=asap_bc

Also the Bigger Pockets podcast is an excellent resource.

u/SteelSharpensSteel · 4 pointsr/marriedredpill

On What to Read


Here are some suggestions on books and websites:


The Millionaire Next Door by Stanley and Danko - https://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474


If You Can by William Bernstein - http://efficientfrontier.com/ef/0adhoc/2books.htm


Free version is here - https://www.dropbox.com/s/5tj8480ji58j00f/If%20You%20Can.pdf?dl=0


The Investor's Manifesto. Preparing for Prosperity, Armageddon, and Everything in Between by William Bernstein - https://www.amazon.com/Investors-Manifesto-Prosperity-Armageddon-Everything/dp/1118073762


The Bogleheads Guide to Investing - https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283


The Coffeehouse Investor - https://www.amazon.com/Coffeehouse-Investor-Wealth-Ignore-Street/dp/0976585707


The Bogleheads' Guide to Retirement Planning - https://www.amazon.com/Bogleheads-Guide-Retirement-Planning/dp/0470455578


The Four Pillars of Investing: Lessons for Building a Winning Portfolio by William Bernstein - https://www.amazon.com/Four-Pillars-Investing-Building-Portfolio/dp/0071747052/


Total Money Makeover by Dave Ramsey - https://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277


Personal Finance for Dummies by Eric Tyson - https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1118117859


Investing for Dummies by Eric Tyson - https://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/1119320690/


The Millionaire Real Estate Investor per red-sfplus’s post (can confirm this is excellent) - https://www.amazon.com/Millionaire-Real-Estate-Investor/dp/0071446370/


For all the M.Ds on here and HNW individuals, you might want to check out https://www.whitecoatinvestor.com/ and his blog – found it to be very useful.


https://www.irs.gov/ or your government’s tax page. If you’ve been reading, you know that millionaires know more than your average bear about the tax code.


https://www.reddit.com/r/TheRedPill/comments/7vohb3/money/


https://www.reddit.com/r/TheRedPill/comments/3hzcvn/financial_advice_from_a_financier/


https://www.artofmanliness.com/2017/09/22/4-money-tips-4-personal-finance-legends/


Personal Finance Flowchart from their wiki - https://i.imgur.com/lSoUQr2.png


Additional Lists of Books:


https://www.bogleheads.org/wiki/Books:_recommendations_and_reviews


https://www.whitecoatinvestor.com/books-4/


Subreddits


https://www.reddit.com/r/investing/


https://www.reddit.com/r/personalfinance/ - I would highly encourage you to spend a half hour browsing their wiki - https://www.reddit.com/r/personalfinance/wiki/index and investing advice - https://www.reddit.com/r/personalfinance/wiki/investing


https://www.reddit.com/r/financialindependence/


https://www.reddit.com/r/SecurityAnalysis/


https://www.reddit.com/r/finance/


https://www.reddit.com/r/portfolios/


https://www.reddit.com/r/Bogleheads/


MRP References


https://www.reddit.com/r/marriedredpill/comments/40whjy/finally_talked_to_my_wife_about_our_finances_it/


https://www.reddit.com/r/marriedredpill/comments/67nxdu/finances_with_a_sahm/


https://www.reddit.com/r/marriedredpill/comments/488pa0/60_dod_week_6_finances/ (original)


https://www.reddit.com/r/marriedredpill/comments/6a6712/60_dod_week_6_finances/ (year 2)


https://www.reddit.com/r/marriedredpill/comments/3xw015/how_to_prepare_for_a_talk_about_finances/


https://www.reddit.com/r/marriedredpill/comments/30z704/taking_back_the_finances/


https://www.reddit.com/r/marriedredpill/comments/2uzukg/married_redpill_finances_and_money/


https://www.reddit.com/r/marriedredpill/comments/3637q5/some_thoughts_on_mrp_and_finances/


https://www.reddit.com/r/askMRP/comments/8dwaqt/best_practices_for_finances_within_marriage/


https://www.reddit.com/r/marriedredpill/comments/588e5o/gain_control_of_the_treasury/


Final Thoughts


There are already a lot of high net worth individuals on these subs (if you don’t believe me, look at the OYS for the past few months). This should be a review for most folks. The key points stay the same – have a plan, get out of the hole you are in, have a budget, do the right moves for wealth accumulation. Lead your family in your finances. Own it.


What are YOU doing to own your finances? Give some examples below.


u/SexyCommando · 4 pointsr/startups

Steve Blank's Four Steps to the Epiphany and Guy Kawasaki's Art of the Start are both pretty good books on the subject.

The Mixergy podcasts are helpful as well, they're interviews with entrepreneurs in all sorts of different businesses. They usually have pretty good information on their whole business process from start to finish.

Other than that, depending on the business you're starting check out blogs of companies/people in similar areas of business. Startup Digest curates news from various startup blogs every week and sometimes they have pretty good information.

u/Javanz · 4 pointsr/PersonalFinanceNZ

From a local viewpoint, Martin Hawes's books I find pretty solid. Very much a get rich slow approach that gels with my money personality though.


The Millionaire Next Door is quite America-centric with some of their specific advice, but it's a good one to read to get into the FIRE headspace

The Index Card I would also recommend

u/mrzulu · 3 pointsr/personalfinance

My goal when I started investing was to learn as much as I possibly could without spending a dime. This means not buying stocks or mutual funds immediately, but instead reading and understanding from people who have already done well. If you are unwilling to pick up a book at this stage, then you're going to make some costly mistakes down the road.

My advice: ignore the $2500 and go to the library. Below are my recommendations (taken from the /r/investing sidebar):

  • A Random Walk Down Wall Street by Burton G. Malkiel
  • The Warren Buffett Way by Robert G. Hagstrom
  • The Bogleheads' Guide to Investing by Larimore, Lindauer, LeBoeuf

    > My first (probably terrible) idea was when I noticed that apple shares fluctuate about 30 dollars a day on average. Even if I just had one share and sold high and bought low, 30 bucks a day is bathing in money when you're at school. I realize I'm probably missing something and it isn't that simple, but that's why I want to learn.

    This is pure speculation, not investing. Investing means long term (> 10 years) holdings that produce a consistent, reliable return (there is an ebb and flow, of course). Speculating is akin to gambling. If you want your money to work for you, investing is the course much more likely to accomplish that goal. If your goal is a quick buck, then you'll probably have better odds in Vegas than on Wall Street.
u/dsfox · 3 pointsr/Economics

30,000,
36,000,
40,000,
100,000, there's a book for everyone!

u/noloze · 3 pointsr/investing

I'll give you some books to use as a starting point. You want to start out as generally as possible and then follow what interests you. Someone can give you a list of top books, but if they don't fascinate you enough to really dig in deep and reflect on them to sate your own curiosity, you'll just be scratching the surface. I don't care what it is, you can make money anywhere in the markets. So starting generally will help you find out what direction to go.

So, that said, these are the ones I'd recommend starting out with
https://www.amazon.com/Market-Wizards-Updated-Interviews-Traders/dp/1118273052
https://www.amazon.com/Reminiscences-Stock-Operator-Edwin-Lef%C3%A8vre/dp/0471770884
https://www.amazon.com/gp/product/1400063515/
https://www.amazon.com/gp/product/0684840073/
https://www.amazon.com/gp/product/0809045990/

Some less conventional ones I really liked
https://www.amazon.com/gp/product/1578645018/
https://www.amazon.com/gp/product/1422121038/

Chaos theory describes some properties that pop up again and again in markets. I really liked this one.
https://www.amazon.com/Deep-Simplicity-Bringing-Order-Complexity/dp/140006256X

I also highly recommend finding a few good books on behavioral investing, just to get acquainted with the common mistakes investors make (how you can avoid them, and how you can exploit them). I don't have a lot here because the books I read are outdated and you can find better. So one example:
https://www.amazon.com/gp/product/0470067373/

But in general reading about psychology will help you understand the world better, and that's always a good thing.
https://www.amazon.com/Flow-Psychology-Experience-Perennial-Classics/dp/0061339202

u/justlikeyouimagined · 3 pointsr/PersonalFinanceCanada

Dan from CCP has some suggestions for low cost ethical investing but the article is from 2010 and may not be current info. One of the commenters who says he's a fee-for-service advisor has created an Organic Couch Potato Portfolio that uses some of Dan's suggestions. I dunno about those solar bonds.. might not be super liquid.

Rebalancing is not that complicated. The Value of Simple by /u/HolyPotato explains exactly what to do (and has lots of other good information), otherwise there are some great blogs like Canadian Couch Potato and Canadian Portfolio Manager that can help.

I think everyone has to learn this for themselves, but don't overthink it. When I launched my passive portfolio I was checking on it every day, I was keen to reinvest my first dividends as soon as they were paid out, and I spent a lot of time researching, tweaking and convincing myself that what I was doing was right.

A year later I'm checking less and less, I have a 'meh' attitude towards doom and gloom in the financial news and I'm just gonna rebalance when I contribute to my portfolio once a year and leave it alone unless there's a crash.

u/LtColVindmansVagina · 3 pointsr/investing

I dont know why nobody has mentioned this but you can hire a property manager for about 10% of the monthly rent. This could relieve you of a lot of the headaches while simultaneously providing that income boost you're looking for.

Honestly this is a massive undertaking no matter which way you go so I'd like to suggest you to read a book I really enjoyed on rental property investing. I would also encourage you to seek out other books on topics like dividend investing and such so you can make an informed choice.

Anyways, this is the book I recommend- The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing! https://www.amazon.com/dp/099071179X/ref=cm_sw_r_cp_apa_i_B4v4DbXTMKKGA

In it you will find tips on properties worth investing in, calculations on profitability, tax strategies, property management questions, etc etc. It is a very informative book

u/networkjunkie1 · 3 pointsr/realestateinvesting

I buy all my properties (12 units) long distance since I am in a similar situation to you - I live near DC.

To keep it simple, the #1 thing you need to do is build a team of pros that will help you. Since you're not there, you need people who could do everything without needing you there.

The most important person on your team is your Realtor since they in turn could help you build the rest of your team. You want someone who does a lot of volume in the area and preferable invests in real estate themselves. You'd be surprised how little realtors know about investing unless they actually experienced it. Check out Zillow reviews for good realtors. More reviews the better.

I was actually going to write a book on it until someone beat me to it. I've read it and it's pretty spot on. He uses checks and balances with different people on his team to make sure everyone goes as planned. I have a family member close by who manages my renovations so I have a slight advantage.

https://www.amazon.com/Long-Distance-Real-Estate-Investing-State/dp/0997584750

u/skrillabobcat · 3 pointsr/realestateinvesting
u/CEZ3 · 3 pointsr/personalfinance

Bogle-heads is a fantastic source of financial information

Vanguard is my go-to investment company.

A Random Walk Down Wall Street

The Little Book of Common Sense Investing

u/STUPlD_lDlOT · 3 pointsr/FinancialPlanning

Get a Financial Life is my favorite personal finance for young adults.

Bogleheads is the place to go for investing. Very beginner friendly. The videos are super cheesy but very accurate and unbiased.

u/InfectedUvula · 3 pointsr/investing_discussion

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)

u/jerschneid · 3 pointsr/portfolios

Cool, well your learning attitude will serve you well!

As a bit more of an overview, the VT ETF contains 8,116 stocks. That means when you buy that, essentially every working stiff on the face of the planet from the janitors to the CEOs is working to make you rich. You collect value in terms of profits coming back to you in dividends as well as gain in value of the stocks.

You feel passionately about weed stocks, but what if oil has an amazing next five years. What about health care? What about autonomous driving cars? What about energy? What about technology? With VT you own all of it, including the up and coming ones you didn't even know about or predict.

And don't trade or try to time the market. Just buy and hold. Take a look at this portfolio growth calculator. VT will grow about 10%/year over time. Your gains can be massive if you can sock away a little more every month.

And read this book. It's $3 on kindle, $7 on paperback, 100 pages and it will make you a millionaire.

u/floppybunny26 · 3 pointsr/Entrepreneur

3 great books to read, in descending order of importance:

The Mousedriver Chronicles (Couple of kids out of Wharton starting a company around a mouse shaped like a golf driver)

The Art of the Start (Guy Kawasaki- Entrepreneur's instruction manual.)

The Tipping Point (Malcolm Gladwell- good explanation of how to select the few important things to do to make your snowball into an avalanche.)

Hit me up via pm if you have any further questions. You're where I was about 2 years ago.

u/Kisu32 · 3 pointsr/Finanzen

> Ich bin ich wirklich informiert über den Finanzmartk, an dieser Stelle würde ich mich über einen Buchtipp freuen der zu meiner Situation passt.

  • "Souverän Investieren mit Indexfonds und ETFs" von Gerd Kommer.


  • "Kaufen oder mieten?" ebenfalls von Gerd Kommer. Auf den Namen Kommer wirst du ohnehin immer wieder stoßen, wenn du dich im Internet zu dem Thema Finanzen/Investieren umschaust.


    > Eigentlich wär mir es lieber die Wohnung zu halten und auf weiteren Preisanstieg zu hoffen.

    Die historische reale Rendite von Wohnimmobilien liegt nahezu bei 0% und damit deutlich unter einem vergleichbarem Weltportfolio bestehend aus Aktien und Anleihen/Tagesgeld. Der Anstieg der letzten Jahre der Immobilienpreise ist nur eine Ausnahme.

    Generell besteht ein hohes Klumpenrisiko, wenn du die Immobilie weiterhin behältst. Das Risiko ist nicht zu unterschätzen. Der Preis einer Immobilie schwankt deutlich mehr, als man denkt.


    Dies alles wird aber ausführlich in den beiden Büchern erläutert.


u/hyratha · 3 pointsr/personalfinance

Read this short (27 pg) booklet with some adivce If You Can: How Millennials Can Get Rich Slowly

Shows some basics to saving. Its simple, but not easy. I think its free on his website too. Just a quick guide of how to

u/sdmis · 3 pointsr/Daytrading

I'd recommend Understanding Options by Michael Sincere. That book helped me understand spreads, covered calls, and Greeks.
https://www.amazon.com/Understanding-Options-2E-Michael-Sincere-ebook/dp/B00GWSXX8U/ref=mp_s_a_1_4?keywords=options&qid=1557183764&s=gateway&sr=8-4

u/brendannnnnn · 3 pointsr/wallstreetbets

This book helped me a lot:


https://www.amazon.com/Understanding-Options-2E-Michael-Sincere-ebook/dp/B00GWSXX8U


Also do the opposite of everything this sub suggests :)

u/Fabsun · 3 pointsr/de

Den Klassiker von Gerd Kommer kann ich empfehlen.
Wenn man sich erstmal Grundwissen aneignen will, ist auch "Börse für Dummies" gar nicht schlecht. Da bekommt man Grundlegendes einfach erklärt.

u/lastlook · 3 pointsr/personalfinance

I felt the same way as you last year. I am now 25 and feeling competent with my financials by reading this book https://www.amazon.com/If-You-Can-Millennials-Slowly-ebook/dp/B00JCC5JKI and all the books it recommends.

I highly encourage you to get to a point where you feel comfortable with what all the terms are and what you can best do for yourself. It takes time to understand it all but your livelihood is worth it!

If you look up "if you can how to get rich slowly" into google, the top link will be free 16 page pdf laying out what you want to read up on and investing strategies.

u/inateclan · 3 pointsr/fiaustralia

Looking for this one too. For non-aus one, am planning to get this: The Simple Path to Wealth: Your road map to financial independence and a rich, free life https://www.amazon.com/dp/B01H97OQY2/ref=cm_sw_r_cp_api_i_CmjyCbV4KKJJS

u/smith1964us · 3 pointsr/betterment

I read this book to help with my market expectations.
https://www.amazon.com/gp/product/B01H97OQY2/
My conclusion is that Betterment is an investing tool to help me stay on my simple path.

u/strolls · 3 pointsr/UKPersonalFinance

From the sounds of it you have no idea what to do with the money, and have no existing savings or investment plans.

This is not intended as a criticism of you, as I reached my 40's myself with just about no plan.

However, what it means is that this £80,000 is like an immediate thing, and it should be only a component of your longterm savings and investment plans.

I.E. you need to sort out your longterm savings and investment plans first, and only then fit the £80,000 in the appropriate slot(s).

IMO you should put the £80,000 in the bank for the next 12 months. Figure o building a plan by the end of the tax year - be prepared, say, to put it all into action in March 2018.

Use www.bankaccountsavings.co.uk to maximise the interest on your savings for the next 11 or 12 months.

I think the first books you should read are Rich Dad, Poor Dad and Your Money or Your Life. IMO you and your gf should each read one of these books in the next fortnight or month, then swap and read the other. Some people get a lot out of these books, others not so much - read the criticism of Rich Dad, Poor Dad, too, but hopefully within the next 3 months or so you should be able to build an idea of your financial goals. Generally financial goals should support life goals, but it's ok to have financial goals that support open-ended life goals. Might be worth taking a look at Martin Bamford's Money Tree and Martin Lewis' Money Diet (I haven't read them, but one of the sub's mods put them in the sub's wiki, he's a financial advisor and I trust him) then dig into Tim Hale's Smarter Investing.

Read this sub everyday and ask questions about anything you don't understand.

u/vhalros · 3 pointsr/financialindependence

I would read If you can, how Millenials Can Get Rich Slowly. Its short (like twenty pages) and gives you the basics of investing, and has a reading list of other books. The electronic version is free, so don't pay for it.

The market as a whole tends to go up because people keep getting better at doing things (productivity increasing), although it is definitely not monotonically increasing. And since corporate profits will inflate right along with currency, they tend to keep their value in the face of inflation.

The other thing to realize is, what else are you going to put your money into? In a savings account, inflation will slowly evaporate it. Real estate prices also fluctuate.

u/Here4Downvotes · 2 pointsr/personalfinance

$600 for food for two people? You guys must enjoy some serious eats :)

Never having touched the IRA is great news. VTIVX is a great fund, with low expenses and index allocation that is rebalanced for you as time goes on, with the investments becoming less risky as you get closer to retirement. For folks like you who don't have the time and/or interest in learning about investing this is about as good as it gets. You don't have to do anything except keep investing as much as you can. You'll be able to retire early if you wish just by contributing ~25% of your income to the fund and letting it grow.

Keeping the 12k in cash is okay. That's enough to cover emergencies or give you an opportunity to take advantage of potential opportunities you might miss if you've got all your money stashed in illiquid investments.

I'd probably put your monthly excess cash into savings, then when your income goes up and your debt is paid off you can increase your monthly contribution to the IRA. When you're ready you can look into buying a home instead of renting if it makes financial sense to do so. If it were me I'd cut the food/transportation/rent budget a bit and work to get rid of the debt immediately, but I'm a nitpicker.

As long as you don't let your lifestyle and consumption habits inflate when your income increases you should be well on your way to financial independence, and if you choose, early retirement.

If you want to get a basic idea of the principles of investing you should buy William Bernstein's If you can. At 27 pages in length it's a quick and easy read.

u/ItsAConspiracy · 2 pointsr/investing

For you, a crash is fantastic. The temporary loss of net worth barely hurts you, so mostly it's an opportunity to buy cheaper stock. Over the long run a crash now pays off big. Keep dollar-cost-averaging and celebrate your good luck.

To see the math on why it's great for you, read If You Can by William Bernstein.

u/huskerarob · 2 pointsr/wallstreetbets

Books! This is where i started.

u/T0rtillas · 2 pointsr/fednews

I was in your shoes. Then I started doing the max contribution ($18,500) this year.

Here are some resources that really helped me:

u/JohnnyZ91 · 2 pointsr/options

Please read this before continuing.. its a good crash course. You will murder your account and profits without these core understandings. Remember chinese news and information trump charts. Great first win!

Understanding Options 2E https://www.amazon.com/dp/B00GWSXX8U/ref=cm_sw_r_cp_api_i_.vkDCb9PTYHH7

u/gettingtoohot · 2 pointsr/wallstreetbets

In regards to your question, a short answer would be, it depends. If you purchase that option during the day and the underlying stock is moving towards your strike price, you already have a profit as long as you sale that option that same day and do it quickly. If you wait and the movement of the underlying remains flat, you will notice the value of your option diminishes due to time decay. The estimated decay is described by the theta value of your option. If it has the value of -0.2, then that option will lose 20 cents per day. Theta will increase the closer you are to expiration.

If you wait until expiration or near expiration, the price of the underlying stock must reach the strike price + the premium you paid in order to make even. If this condition is met earlier, then you might be able to make a profit depending on other parameters: time until expiration, strike price, the greeks (delta, theta, gamma, and vega are the more important one), underlying stock price, volatility, and more. I have listed the more important one. I really recommend you this short book if you want to learn more. Understanding Options The author's style of writing is very easy to read.

u/PushYourPacket · 2 pointsr/FIREyFemmes

Generally speaking you'll either want a target date fund (which will have a higher expense ratio, but is "set it and forget it" kind of thing), or dump into something like VTSAX (or whatever equivalent you have access to). You can opt to do other portfolio strategies, but those are the two most commonly used for general suggestions. Many will feel that VTSAX is investing in only one stock, which is inaccurate as VTSAX invests in the broad market.

Also, if you have some time go and read through JLCollin's stock series (note - it's currently down for some reason, looks like their web host is having issues). Or read the simple path to wealth.

TL:DR - if you want 100% stocks, throw it in VTSAX and forget about it. Over the past 10 years VTSAX has returned 12%, with the worst 3 year period being -8% and best 3 years being 33%.

u/wetgear · 2 pointsr/bayarea

You're doing great you now have a very good emergency fund but you need to change where you are putting the money you save moving forward. Change your 401k contributions to 22%, this is about 18k/year (the yearly max contribution). Then open a ROTH IRA and contribute 5.5k annually. These are tax advantaged accounts, make the most of them. For both of these investments and your age you want about a 80:20 stocks:bonds ratio, you can use a target retirement date fund to get this ratio but make sure the fees are low (<0.2%). You mentioned you wanted something more liquid than a ROTH IRA elsewhere but the ROTH is the most liquid tax advantaged account available (You can withdraw your contributions tax and penalty free at any time. Your earnings need to meet certain criteria to not be penalized when withdrawn). Any remaining savings should go into a money market account where it can mildly/safely grow and become a downpayment on a house. If after all this you find you still have extra savings start a taxable investment account that is well diversified. Individual stocks are little more than gambling, sure you might hit it big but you may also lose it all. You're young, play the long game to get rich and you'll maximize your chances to do so.

Also read this book sometime before you are 30, https://www.amazon.com/Allocation-Second-Professional-Finance-Investment/dp/0071700781

u/meats_the_parent · 2 pointsr/financialindependence

I recommend reading Rick Ferri's All About Asset Allocation.

u/Chummage · 2 pointsr/FinancialPlanning

I've read about half of these. Pretty dry reading. I would recommend the following:

The Wealthy Barber

I Will Teach You to be Rich

Bogleheads' Guide to Investing

All About Asset Allocation

The basic point of all of the books above and in the article is that you aren't going to beat the pros in investing, in fact the pros can't even keep up the same record from year to year. Index funds are the way to go. Other books above go over what the asset allocation looks like and also goes over insurance and other things to make your finances sound.


As an aside, I never could stick with a budget until using the software YNAB and now that I'm doing a monthly budget I am seeing massive benefits.

u/nibot · 2 pointsr/Physics

I enjoyed the book A Random Walk Down Wall Street. It's not entirely apropos your interests, but I think you will find it agreeably skeptical about the prevailing economic mumbo-jumbo. Steven Landsburg's The Armchair Economist is another easy, thought-provoking read. I have not read it, but I am curious about More Heat than Light ("Economics as Social Physics, Physics as Nature's Economics ").

u/honkus · 2 pointsr/pics

The single best book I've read is, "A Random Walk Down Wall Street." I'm with the OP, fuck Suze Orman.

"Random Walk" is a fairly interesting/easy read for a personal finance book. Malkiel should convince you by the time it's through why index funds are the way to go.

If you want something more challenging after that, try David Swenson's "Unconventional Success" It was a much tougher read for me, I really had to slog through it. But Swenson's record is pretty amazing, and he makes a convincing argument about why it's important to set up a simple approach to diversification. And it really is simple - 6 different categories, rebalance annually, that's it.

u/DashingLeech · 2 pointsr/technology

See, this to me is the wrong way to think about business.

RIM was leader in enterprise systems until late last year and is still second. They have huge market share. They also hold niche markets like secure smart phones and tablets. From a business perspective, they are in an enviable position.

The problem isn't with their position; it is with their trend. If they had been on an upward trend to the position they are currently in, everyone would be screaming about how great they are. In business it is position that matters more than trend. A trend can change, and effort can be put in to change the trend if you understand it. Many companies have done this. Apple is a prime example of a failed company that turned it around and became a market leader. Twelve years ago everyone thought of Apple the way people think of RIM today.

RIM is in a good position right now, and if they make the right moves they can reverse that trend. iPhones/iPads are fine, but they aren't perfect. They became fashionable and trendy and possibly overhyped. Steve Jobs was part of that trendiness. With him gone, and iPhone losing its "newness", it seems to me the time is ripe to move to change those trends.

I don't know what the right moves are. The question is whether RIM can figure it out, or gamble correctly, to change those trends. They definitely have the makings for it with top notch hardware and OS software, key differentiators and niches, and potential (such as Android apps working on PlayBook and soon phones).

The over-reliance of investors (and "trendy" consumers) on trends is fairly well documented. (My favorite book on the subject right now is The Drunkards Walk, though a A Random Walk Down Wall Street is probably the better known classic.) It's what causes bubbles on the upswing, and undervalued stocks on the downswing. It's also why investors who ignore those trends and invest via risk management principles tend to do much better than trend followers.

I'm keeping an eye on RIM to see what they do. I certainly won't write them off yet.

u/krunk7 · 2 pointsr/Economics

Investing is about the long, how much risk you're willing to assume, and how much volatility you can emotionally handle.

7% is hard today, 10 years ago 10% wasn't abnormal. Averaging over the years and you get ~7%...so you have to take the downs with the ups.

Check out A Random Walk Down Wallstreet

People who make their living selling financial snake oil want you to think investing is a mystical or incredibly difficult or arcane process. But it's really not. That book breaks it down in plain english and provides a map for investing. It's an easy read.

u/MistakeNotDotDotDot · 2 pointsr/Bitcoin

> If Bitcoin climbs to $100,000, then today's $500 swings will look like rain drops.

http://www.amazon.com/Dow-100-000-Fact-Fiction/dp/0735201374

u/hikariing · 2 pointsr/suggestmeabook

Hi I'm not sure if these are the books you would enjoy, but I do have a couple of them in my pocket list:


Personally in recent years I'm interested in topics about algorithms/cryptology and economics, so The Code Book by Simon Singh, Fortune's Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street by William Poundstone, The Physics of Wall Street: A Brief History of Predicting the Unpredictable by James Owen Weatherall, these are the ones of my all time favorite "history" books about math and science and their applications. : )


I can still come up with another (popular) book, Freakonomics: A Rogue Economist Explores the Hidden Side of Everything, but I didn't really enjoy the book, guess I didn't agree some of the conclusions in that book. But maybe you would find it interesting. :)


Hope this helps! ☺️

u/SwareEng · 2 pointsr/Silvercasting

You will like this BOOK there is one used spiral bound copy still available as posting.

EVERY rotary casting machine I have used has been mounted inside some tub or shallow weighted drum.

u/JOBAfunky · 2 pointsr/metalworking

Then I would recommend going with bronze or silver. You can get silver for close to $15 an oz at www.apmex.com Get a model of the coin that you want to make and then make a silicone mold of it so you can make multiple wax copies.Read a book on how to do it:https://smile.amazon.com/gp/product/096159845X/ref=oh_aui_search_detailpage?ie=UTF8&psc=1

u/Atypical_Panda · 2 pointsr/RealEstate

The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing! https://www.amazon.com/dp/099071179X/ref=cm_sw_r_cp_api_i_gzbrDb6QRAYFY

Also aside from reading this, check out the authors channel on YouTube he has some very informative videos about real estate. It’s called bigger pockets.

Also Graham Stephan on YouTube as well is another very knowledgeable and successful real estate investor.

I started out reading rich dad poor dad and it was my gateway drug. Now I’m on a mission to know everything about money.

u/Perfectreign · 2 pointsr/realestateinvesting

I'm in a similar situation. I live near Los Angeles City. The price to rent ratio is like 0.3. I have been reading David Greene's book, Long Distance Real Estate investing

https://www.amazon.com/Long-Distance-Real-Estate-Investing-State/dp/0997584750

u/dp_texas · 2 pointsr/politics

Personal Finance for Dummies

https://www.amazon.com/Personal-Finance-Dummies-Eric-Tyson/dp/1119517893/ref=mp_s_a_1_3?keywords=personal+finance+for+dummies&qid=1568165153&s=gateway&sprefix=personal+finance&sr=8-3

Investing for Dummies

https://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/1119320690/ref=mp_s_a_1_3?keywords=investing+for+dummies&qid=1568165219&s=gateway&sr=8-3

Same author. I read the older version of Investing for Dummies by the same author something like 15+ years ago. I did not read the personal finance one, but the investing book will put a lot of things into perspective for you. It really would be great if these were studied in highschool and\or college. Always get the latest version. They update it for current tax law. The general ideas are always the same.

Pay down debt or avoid incurring it. No investment is 100% except paying off debt. Don't buy more than you can afford. Diverse mutual funds are good. Pre-tax 401k is good.

u/jbro507 · 2 pointsr/FinancialPlanning
u/freedogg22 · 2 pointsr/personalfinance

> but I've never ever found a good guide who can really tell me how this all works

I actually would have to recommend Investing For Dummies. Seriously. It's got all the information that someone with little-to-no background would need.

u/mbezzant · 2 pointsr/investing_discussion

Honestly one of the best books I've read for beginners is investing for dummies. It's very good at explaining risks associated with different types of investments. You don't even have to read the whole thing just what you need to get started.

Investing For Dummies https://www.amazon.com/dp/1119320690/ref=cm_sw_r_cp_apa_i_D4rVCbK6RTN7F

u/amp1212 · 2 pointsr/investing

Not the technical junk. "Cups, bases" . . . you can ignore all of that. This is old school "chartistry", drawing lines on stock price charts, trying to find patterns.

When you look at IBD's "CAN slim" methodology . https://www.investors.com/ibd-university/can-slim/

it's basically a momentum investing style, and momentum investing generally has been successful for the last decade or more. IBD hasn't been any more successful than any other momentum investor, but you definitely could take note, there are a bunch of momentum investing funds available a ETFs, including one based on IBD's picks, ticker symbol is FFTY. Its a MUCH better idea than trying to pore over stock tables and calculate this stuff.

Momentum investing is really something you want to have someone doing algorithmically, rather than try to do it yourself, it involves a lot of recalculating, trading and portfolio rebalancing, which is both expensive and time consuming for an individual picking stocks.

And again, do yourself a favor: if you're new to investing, read

"A Random Walk Down Wall Street" -- now in its 12th edition, written by my old econ professor, Burt Malkiel. Its a disciplined look at all the things that provably _don't_ work. Reading charts is one of them. Market timing is another . . .

Or see his talk at Google "The Elements of Investing" on Youtube . . . its where someone new to investing should start.

u/wkrick · 2 pointsr/leanfire

You should check out A Random Walk Down Wallstreet

As I said in my other reply, if it were a profitable strategy, then there would be actively managed funds that took advantage of it and consistently beat the market. The transaction costs should be small for a mutual fund manager compared to the average investor. Even if it was a small profit, the fund would trade in large volumes such that a very small percentage becomes a large and worthwhile profit. Just look at high-frequency trading to see systems that exploit very small arbitrage opportunities to turn a profit.

There's lots of strategies that you could back-test against historical market data that look like winners. But just because you found a seemingly profitable pattern in the past (i.e. 5 down/up days in a row) doesn't mean that it will be true for future markets.

u/essmac · 2 pointsr/investing

I just started reading A Random Walk Down Wall Street by Burton Malkel (latest edition is 2019), and it's pretty good so far. I've also seen several recommendations for John Bogle's The Little Book of Common Sense Investing, though I haven't read it yet.

There are also free courses on Coursera to get your feet wet (e.g. Robert Shiller's Financial Markets class, Yale Unv). These aren't always designed for your everyday retirement investor, but Shiller's course is still really informative.

u/brendapie · 2 pointsr/personalfinance

It is on the reading list but I highly recommend I Will Teach You To Be Rich.

It is geared for someone in their 20s although it can be applied at any age. It's broken down into six weeks where he goes over your credit and banking accounts and then guides you into starting an investment account and setting up a budget. An updated edition of this book is coming out in May but the advice in the book is still sound and relevant.

Edit: Found one more book on that list that seems perfect. Get a Financial Life: Personal Finance in Your Twenties and Thirties.

I also really liked Suze Orman's The Money Book for the Young, Fabulous & Broke but it came out in 2005 so some of the content is outdated. This is one of the few books I have seen that really targets the issues young people face with money.

u/dag1979 · 2 pointsr/AskReddit

The best resource for learning the way he thinks is to read his annual letters to shareholders.

They are available all the way back to 1977 - Here

You can also read the series of books by Mary Buffett (His ex-daughter-in-law). She has some good insights on his methods. - Here

His right hand man, Charlie Muger, also has some good insights in his book - Poor Charlie's Almanack

I don't think simply reading these resources will make you a billionaire though. The long term value approach is as much a test of character as it is about knowledge.

Happy reading!

u/BroomIsWorking · 2 pointsr/ZenHabits

I'm guessing you meant to say Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.

Richard's Almanac is a great read, but not much of a financial guide. Franklin mostly went bankrupt throughout his life.

u/jay9909 · 2 pointsr/investing

And if you like that: Poor Charlie's Almanac.

u/moge · 2 pointsr/esports

Getting started is easy. It sounds stupidly simple but it is this one step that separates those that have and those that have not; just start making videos!

In my day job I give a lot of presentations on startups, blogging, and what it takes to be 'successful' and, it is very sad to say, people just don't do things.

Starting out do not worry about your 'voice' or what game you want to cover. Don't worry about what topics to talk about or that one video was about HoN and the next about SC2. the only thing that matters is your schedule. Tell yourself twice a week I am going to put up a video - who cares what it is on or about.

Over time you will find your 'voice'. You will find what you like to cover and what you don't. Seriously, the only advice I can give you is just to start making videos. You are going to have haters, that is the fact of the internet. Period.

Here are some resources I link to in my presensations

Guy Kawasaki's 'Art of Start'

Tim Ferris: Dealing with Haters

Gary Vaynerchuck's 'crush it'

These are just a few things to get you pumped. What you do from here is up to you.

GL HF

u/CaseyGerald · 2 pointsr/IAmA

Yes. Read 3 books: "The $100 Startup" and "The Hard Thing About Hard Things" and "The Art of the Start." And do what they say.

u/falenroun · 2 pointsr/graphic_design

I'm just a junior designer, but oftentimes in academics I was the group leader. So take this with a grain of salt that I may have no idea what I'm talking about but being a leader I always made sure there was clear public directions conveyed in two forms. Often an email before a meeting and then a verbal check in. I found people will often say they didn't get the email or try to wiggle out of commitments so you have to be the driver of change. I found that if I gave clear directions to everyone, and was available and approachable things ran smoothly.

As for reading I would recommend art of the start by Guy Kawasaki. Lots of great chapters about assembling teams and other aspects.

u/sweadle · 2 pointsr/personalfinance

I'd suggest this book as an easy starting place. https://www.amazon.com/Index-Card-Personal-Finance-Complicated/dp/1591847680

Congrats of taking responsibility for learning about finances? As you get older you'll realize that many adults have awful finances, know next to nothing about money, and just hide it very well. The fact that you're asking means you're already ahead of a lot of people.

u/throwaway1138 · 1 pointr/investing

I highly recommend The Bogleheads Guide to Investing and All About Asset Allocation to start with. They are both very understandable and you can read them in one weekend. It's your money and your life so it's worth it to spend a few bucks and an afternoon here and there to learn answers to questions you never even thought of asking before.

>at least half of American households have the majority of their networth in real estate.

Correct. Many/most Americans buy way too much house and are undiversified with a massive illiquid asset on their balance sheet. It costs them money and time to maintain while trapping them in one location and limits employment options. A healthy investment portfolio would have cash, bonds, stock, and some real estate.

Your original post asked specifically about real estate but I'm urging you to consider developing a long term workable plan beyond speculation and rental properties, which IMHO is shortsighted. You and your wife have a real shot at tremendous success because you are young DINKs with good income but you need to broaden your horizons a bit beyond the typical "let's buy real estate" idea.

u/william_fontaine · 1 pointr/investing

One of the best intro books I've read that covers different assets is "All About Asset Allocation" by Rick Ferri: http://www.amazon.com/About-Asset-Allocation-Second-Edition/dp/0071700781

u/enjaydo · 1 pointr/financialindependence

My opinion on a holding individual bonds, is that I would only do it if: a. I wanted to provide myself near guaranteed cash flows (via a bond ladder) or b. had significant amounts (hundreds of thousands to millions) to invest in bonds.

If you know you will need money at a certain date in the future, individual bond purchases (ie: treasury direct) or CDs could be useful. The bond fund's price will fluctuate greatly with changes in rates, so you bear some risk of the price being low when you want your cash. This is the risk/benefit to weigh. I am not concerned about this as my emergency fund at LMCU gets 3% interest and would cover about 6 month of expenses. I also hold roughly 6 months of expenses in precious metals. I view PMs as currency diversification, not as an investment. I like diversification, so I hold my emergency fund in USD and PMs. My bond allocation is entirely through VBTLX currently. Consider tax efficiency of how you hold your bonds.

Rick Ferri has a book All about asset allocation that covers the concept of reducing volatility leading to higher long-term returns. It is a little less deep/technical than Bernstein.

Bernstein has a series I really enjoyed call "Investing for Adults". Rational Expectations (Book 4) covers the volatility/return relationship. He can get a bit technical this series, but I think it is worth reading if you are going to do your own financial planning. (Note: I am also a nerd and enjoy reading about these topics). Four Pillars was also a great read.

u/Megatron_McLargeHuge · 1 pointr/AskReddit

Don't try to beat the market. Read A Random Walk Down Wall Street and make sure you understand why it's not a good idea to try to beat the market unless you're a physics PhD working at a hedge fund, and possibly not even then. Invest, but don't trade actively or expect to time anything.

u/ItsAPuppeh · 1 pointr/AskReddit

If you plan on not dying young, you will need to start saving for retirement, the sooner the better. This in turn requires not only saving, but investing to make sure that your savings at the very least, keep pace with inflation (and hopefully do better).

There are a thousand books on investing, and I can't say I've read even a fraction, but one of the better "level headed, time tested" books out there is "A random walk down Wallstreet"

http://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393081435/

Markets will fluctuate wildly and beyond your ability to predict. The good news is that you have time on your side, and historically, the markets have had an upward trend.

Granted, this is all predicated on the idea that the country is not on fire in 10-20 years (best to stay out of /r/politics if you want to stay optimistic), but your best bet is to ride the trend of the general market over a long period of time.

Still, there really are no guarantee. Best to leave guarantees for death and taxes.

u/SammyD1st · 1 pointr/AskReddit

> I think I will start one of those virtual stock account things once all my finals are over. Seems like a useful skill to have.

NO! NO! NO!

This is in no way a useful skill, no individual should invest in single stocks. Use index funds.

Read this and this to understand why.

u/hedgefundaspirations · 1 pointr/investing

Great book was written about this phenomenon: https://www.amazon.com/Dow-100-000-Fact-Fiction/dp/0735201374

Lots of academic research into the subject. The real technicals behind the market are terrifying.

u/savinoxo · 1 pointr/dota2loungebets

On second thought, I would read The Signal and the Noise first, I think it's got a lot of good advice about life in general as well as predictions.

You could load up your stuff into excel just as a start and try to do some back fitting, like try to see what method has the most accurate prediction. You have to be aware of over fitting with this though, especially in a small set of data.

EDIT: I would also look into Fortune's Formula it's probably one of my favorite books, primarily about the Kelly Criterion but it talks about a whole bunch of stuff. Definitely would be interesting to a mathematician.

These two are more cool stories and advice than "how to make a model" like Who's #1.

u/p7r · 1 pointr/sportsbetting

I apologise if I'm going to be direct here, but I think I can see you have the ability to come up with great insights but you're just shy of getting it right.

You establish the call to look for value bets here:

> So generally in the first round the top ranked players would play someone who is unseeded in the tournament. Even in the second round the chances of the top two or three players playing unseeded players is extremely high.

> Of course the betting lines tend to correspond to the mismatch but there are in-play betting lines which have not quite caught up with the trends.

This is good. I like the fact that you've spotted a solid bet but that you recognise that bookmakers often offer poor value on those and you need to look further afield for value. And then…

> For example if the number one seed player is playing against an un-seeded player in the first round, generally their odds will be as low as 1/40 or even 1/100. However, the odds for them to win their own service game will likely be closer to 1/12.

Oh dear. The reason why those odds are 1/12 is because the true odds are more like 1/10, and there might be no value there. You need to show that in fact the true odds are more like 1/15 by grabbing some historical data, and doing some analysis, and showing it if you can.

You then develop a system where you assume that games where the favourite serves to open the set or to win the set they are more likely to lose them, without showing any actual numbers. Why are the odds still 1/12 if the true odds change in these games? This could be a great understanding of value if you had stats to back you up.

Then this sentence:

> If you roll your bet, a $10 bet would see approximately a $30 return. So from an initial 1/40 bet, you have increased your odds to 2/1

No. No, no, no, no, no.

No.


Please, read up on Kelly criterion. If you can identify true odds, and you can identify the odds being given to you, you can identify edge/value and you can therefore identify the optimal staking plan between games that is mathematically proven to increase your bankroll optimally.

It's not a "system". It's not a guess. It is mathematic proof that given true odds and odds being offered it is trivial to work out what percentage of your bankroll you should bet.

Just rolling like this is guaranteed to kill you off almost every time.

This is a great book on the subject if you don't like the idea of reading academic papers: http://www.amazon.com/Fortunes-Formula-Scientific-Betting-Casinos/dp/0809045990

And then this:

> If you are brave enough to follow this system through both rounds letting the bet roll, your $10 initial stake would grow up to as much as $2,500.

No, because you're betting 100% of the bank roll on it - you have a huge odds-on chance of losing your bank roll. This sentence suggests you have paper-traded the system but not actually done it, otherwise you would know this.

And you'd think "well, what if I bet half the bank roll? Or 75%? Or 25%?" and then suddenly you'd plot these things on a graph using historical results, and you'd spot the apex and then you would think - ah, there is a sweet spot here which increases my bank optimally.

From that you can work out through the kelly criterion your edge by rearranging the formula.

Please stop giving anecdotes, use data, show what is going on. If you don't want to give it all away to bookmakers so the edge disappears, either don't write about it, or conceal pieces of data.

u/cavedave · 1 pointr/TheAmpHour

The Poundstone book fortunes formula has a lot on Shannon. And it is great

u/checkdigit15 · 1 pointr/nonfictionbooks

I can think of two that I've read that are good stories in addition to being informative.

Fortune's Formula by William Poundstone

This is a good book that talks about a system (a money-management method called the Kelly Criterion) that has roots in information theory and applications to stock market investing as well.

Here's a snippet of a review:
"Fortune's Formula is a fascinating study of the connections between such seemingly unrelated topics as gambling, information theory, stock investing, and applied mathematics. The story involves the stunning brainpower of men such as MIT professor Claude Shannon, who single-handedly invented information theory, the science behind the Internet and all digital media; Ed Thorpe; and John Kelly of Bell Laboratories, who developed the "Kelly criterion," a now-legendary investment strategy for maximizing growth while controlling risk. Initially, Shannon and Thorpe took Kelly's theory to Las Vegas and applied it to roulette and blackjack. Later, they took it to Wall Street and cleaned up--Shannon made a personal fortune while Thorpe created the highly successful hedge firm Princeton-Newport Partners. They both discovered that Kelly's system was particularly effective when applied to arbitrage (minute price differences that result from market inefficiencies). As Poundstone ably demonstrates, the merits of Kelly's criterion are still hotly debated today."

http://www.amazon.co.uk/Fortunes-Formula-Scientific-Betting-Casinos/dp/0809045990/

I also second the recommendation of /u/AndrewRichmo of "21" (originally published under the title "Bringing Down the House")

Hope this helps.

u/cbct73 · 1 pointr/BitcoinMarkets

>Kelly criterion, interesting formula but it doesn't apply to bitcoin, because p is highly disputed. It's a one time event - there's just no way to even estimate it.

You can do scenario analysis to apply it:

  • If bitcoin goes 20x with probability 10% (and to zero otherwise), invest 5% of your money.
  • If bitcoin goes 100x with probability 10% (and to zero otherwise), invest 9% of your money.
  • If bitcoin goes 50x with probability 50% (and to zero otherwise), invest 49% of your money.
  • etc.

    The range of values for p and b that you find believable, will give you a range for the fraction of your money you should be investing. Many traders only invest a fraction (eg half) of what Kelly dictates, because Kelly feels pretty bold to most. "The Kelly Criterion marks the boundary between audaciousness and madness."

    Even if you only make one single (long term) bet on bitcoin, Kelly still applies, as long as you keep making other bets with your investments later. However, it only applies to lump sum investments. It does not apply if you have a continuous income stream from which you invest $x every month, say.

    When professional traders give advice on position sizing, it is almost always based on some (fractional) Kelly argument. The book 'Fortune's Formula' by William Poundstone about this is fantastic.
u/Tungsten666 · 1 pointr/Warframe

This is a great small-shop handbook

https://www.amazon.com/Practical-Casting-Studio-Reference-Revised/dp/096159845X

I work in jewelry/metalsmithing and do a ton of casting, and they look pretty good! I wasn't trying to be critical, only offering to help a tenno out :)

u/lionbear · 1 pointr/jewelry

are you using any kind of release? for air bubbles that is. we use a mix of mop n glo and water. something to make the wax "slippery" to the air. hmmm.... check out a copy of any of Tim McCreight's books but especially http://www.amazon.com/Practical-Casting-Reference-Revised-Edition/dp/096159845X.

u/petecas · 1 pointr/Metalfoundry

With the lost wax casting I've done (in silver and brass, mostly) the investment was heated to around 1200 degrees. A hot mold is what you want, it'll keep your metal from being bound up in the sprues as easily. Also http://www.amazon.com/Practical-Casting-Reference-Revised-Edition/dp/096159845X/ is the best.

u/MeSoSawsy · 1 pointr/PersonalFinanceCanada

Hey! I just started investing as well. I jumped straight into ETFs for various reasons.

I think your idea is great. I wanted to mention that when you start nearing $10,000, take a look at this book: https://www.amazon.ca/Value-Simple-Practical-Complexity-Investing/dp/0987818910

You can find the PDF version online if a library doesn't have a copy. The only part I looked at is how to invest in ETFs using Questrade. I was intimidated by the Questrade platform and trading on a real stock exchange network. This walks you through how to buy and sell ETFs on Questrade which is perfect. You can also open a practice account on Questrade to try all of the buttons they have on their trading platform website. One thing to note is that the book is a little outdated as the user interface has changed. Regardless, you'll definitely find your way around easily.

Good luck!

u/graeme_b · 1 pointr/PersonalFinanceCanada

Hi, just came across your book browsing this subreddit. Looks great, and I ordered it on amazon.ca

Just wanted to let you know that the availability is showing as 1-3 months. I ordered from amazon anyway because I'm hoping that's just an error and it will ship sooner. But you might want to look into it; at the least it's probably deterring orders.

Looking forward to reading it! I'm about to start using RRSPs and wanted a primer for the whole system.

http://www.amazon.ca/gp/product/0987818910?

u/morebikesthanbrains · 1 pointr/personalfinance

You should read The Book on Rental Property Investing by Brandon Turner. It will help you get your head around deciding if it's worth the investment. You're asking all the right questions

https://www.amazon.com/Book-Rental-Property-Investing-Intelligent/dp/099071179X/ref=sr_1_1?s=books&ie=UTF8&qid=1466017665&sr=1-1&keywords=the+book+on+rental+property+investing

u/J21frye · 1 pointr/RealEstate

yea, biggerpockets [the book] (https://www.amazon.com/Book-Rental-Property-Investing-Intelligent/dp/099071179X/ref=sr_1_1?ie=UTF8&qid=1525098461&sr=8-1&keywords=BiggerPockets) is the beginner book of choice these days. Site has some valuable blogs as well

u/Littlebigman34 · 1 pointr/realestateinvesting
u/Fender420 · 1 pointr/realestateinvesting

https://www.amazon.com/gp/product/099071179X/ref=oh_aui_detailpage_o08_s00?ie=UTF8&psc=1

I just finished this book and it's outstanding. I couldn't put it down. It's packed with great information and there is even an index of forms in the back to give you an idea/template of what you will need. The author is the guy from the 'bigger pockets' podcast and he covers in good detail what you'll need to know.

u/RightHoJeeves · 1 pointr/FIREyFemmes

a great place to start is join and learn from Bigger Pockets and also David Greene's book on out-of-state investing is great.

https://www.amazon.com/Long-Distance-Real-Estate-Investing-State/dp/0997584750

u/ON_F_I_R_E · 1 pointr/investing

I agree with everyone who said partnerships are tricky. You really have to make sure you are aligned on purpose and and time frame. Assuming you are the structure of the partnership is also key.

For example, if you are "debt partners" then you could keep things simple by you retaining 100% ownership of the property while he gives you X amount of the upfront costs for purchase and renovation. You could then pay him interest on the loan + a % of the proceeds if you chose to sell before the loan is paid in full. This way you both make a return and don't risk fighting over ownership.


Now if you are both "equity partners" co-sign on the mortgage and and or own the property jointly its more complicated. If as owners you both have for example 50% ownership and are splitting the rental income 50/50 what happens when your partner wants to sell to go travel the world or pay for a wedding or emergency when you don't. What happens if you or s/he wants to get a HELOC or cashout REFI when the other person is not onboard...this kind of situation has soured many partnerships and friendships between family, friends and co workers.


My other bit of advice would be to read up on long distance real estate investing. If you are investing for cashflow it often makes sense to "live where you live and invest wear it makes the most financial sense". A lot of investors who are looking for cashflow may in fact stay away from condos which can be tricky because of condo boards, HOAs etc and instead invest in multifamily properties (duplex quadplex sixplex etc) in LCOL areas in the US (Usually mideastern and southern states like OH,IN,KY,GA,FL). This may seem daunting but isn't impossible if you take team to read up on approaches and assemble a good team of realtors, contractors and property managers. Also there are many tools for things like online rent collection etc that make virtual management much easier than 20 years ago. I'd recommend this book on long distance real estate investing to start. I'm also reminded of a few podcasts I heard lately with some canadian real estate investors who mentioned that the real estate market was so hot in some parts of Canada it was hard to buy properties that cashflowed after servcing the mortgage. I cant find the exact episode but this one from a Canadian Real Estate Investor might be some good background as I am less familiar with the Canadian Market.


Good Luck out there!

u/Comexbackkid · 1 pointr/realestateinvesting

Check out this book from David Greene: https://www.amazon.com/Long-Distance-Real-Estate-Investing-State/dp/0997584750

While I haven’t jumped on his strategies just yet, I plan to for my first multi-family purchase as living in Boston anything over 2+ units is crazy expensive. Really really good read.

u/WhiteMountainsMan · 1 pointr/personalfinance

This is a pretty decent, easy to understand primer in understanding the ways to invest:

https://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/1119320690/ref=sr_1_3?crid=3A8SVKX0AXTP9&keywords=investing+for+dummies+2019&qid=1573331955&sprefix=investing+for+du%2Caps%2C173&sr=8-3

​

Of course, do additional research based on the other links shared by others. You can't take all your advice from one source.

u/Xterra · 1 pointr/personalfinance

Read up before taking our advice.

u/blackwellsucks · 1 pointr/ADHD

See if there are any community colleges near your offering personal finance courses! And my mom (a former accountant/insurance agency employee) recommends this book which she actually just ordered for me too!

u/Caplooey · 1 pointr/personalfinance

Check out Get a Financial Life by Beth Kobliner if you are willing to read a detailed financial schema. Check out the You Need A Budget (YNAB) app for habit building, info, and convenience.

u/Gmcgator · 1 pointr/investing

While I agree that the intelligent investor is probably the top single book, it's advanced and longer than most will ever read. 'The beginners guide to investing' is a short and to the point book that I found was really good. It paints the picture early in the book that investing is a long game, then it proceeds into types of investments, asset allocations etc. I particularly utilized the idea of a lockbox vs sandbox. Lockbox is the main nest egg and you only add to that over time, sandbox is a active trading account if you enjoy the game, but with an amount you can handle losing. All my wsb-type fun is happening there, no true yolos, but can still hit some smaller home runs for enjoyment. For $8 this book has everything you need. https://www.amazon.com/Beginners-Guide-Investing-Money-Smart/dp/1477463992?ref=silk_at_search

u/ThuFugitiveMind · 1 pointr/personalfinance

If you already don't have debt, I recommend Beginners Guide to Investing. The philosophy is, spending 4-5 hours a year is all you need to invest well. Short quick read.

u/drysalami · 1 pointr/personalfinance

Hi baldeagle1776! I'm going to throw out my meager recommendation in hopes of drawing out better ones from other people :)

Personally, I think this subreddit's FAQ section is a fantastic place to start - it's one of the best "overviews" of PF information I've seen anywhere.

Not sure if you're looking for introductory books or a deeper dive into topics, but my only other recommendation is "A Beginner's Guide to Investing" by Alex Frey. http://www.amazon.com/Beginners-Guide-Investing-Money-Smart/dp/1477463992/ref=cm_cr_pr_product_top?ie=UTF8

And I'm eagerly awaiting other people's recommendations here :)

u/CSMastermind · 1 pointr/AskComputerScience

Entrepreneur Reading List


  1. Disrupted: My Misadventure in the Start-Up Bubble
  2. The Phoenix Project: A Novel about IT, DevOps, and Helping Your Business Win
  3. The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It
  4. The Art of the Start: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything
  5. The Four Steps to the Epiphany: Successful Strategies for Products that Win
  6. Permission Marketing: Turning Strangers into Friends and Friends into Customers
  7. Ikigai
  8. Reality Check: The Irreverent Guide to Outsmarting, Outmanaging, and Outmarketing Your Competition
  9. Bootstrap: Lessons Learned Building a Successful Company from Scratch
  10. The Marketing Gurus: Lessons from the Best Marketing Books of All Time
  11. Content Rich: Writing Your Way to Wealth on the Web
  12. The Web Startup Success Guide
  13. The Best of Guerrilla Marketing: Guerrilla Marketing Remix
  14. From Program to Product: Turning Your Code into a Saleable Product
  15. This Little Program Went to Market: Create, Deploy, Distribute, Market, and Sell Software and More on the Internet at Little or No Cost to You
  16. The Secrets of Consulting: A Guide to Giving and Getting Advice Successfully
  17. The Innovator's Solution: Creating and Sustaining Successful Growth
  18. Startups Open Sourced: Stories to Inspire and Educate
  19. In Search of Stupidity: Over Twenty Years of High Tech Marketing Disasters
  20. Do More Faster: TechStars Lessons to Accelerate Your Startup
  21. Content Rules: How to Create Killer Blogs, Podcasts, Videos, Ebooks, Webinars (and More) That Engage Customers and Ignite Your Business
  22. Maximum Achievement: Strategies and Skills That Will Unlock Your Hidden Powers to Succeed
  23. Founders at Work: Stories of Startups' Early Days
  24. Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
  25. Eric Sink on the Business of Software
  26. Words that Sell: More than 6000 Entries to Help You Promote Your Products, Services, and Ideas
  27. Anything You Want
  28. Crossing the Chasm: Marketing and Selling High-Tech Products to Mainstream Customers
  29. The Innovator's Dilemma: The Revolutionary Book that Will Change the Way You Do Business
  30. Tao Te Ching
  31. Philip & Alex's Guide to Web Publishing
  32. The Tao of Programming
  33. Zen and the Art of Motorcycle Maintenance: An Inquiry into Values
  34. The Inmates Are Running the Asylum: Why High Tech Products Drive Us Crazy and How to Restore the Sanity

    Computer Science Grad School Reading List


  35. All the Mathematics You Missed: But Need to Know for Graduate School
  36. Introductory Linear Algebra: An Applied First Course
  37. Introduction to Probability
  38. The Structure of Scientific Revolutions
  39. Science in Action: How to Follow Scientists and Engineers Through Society
  40. Proofs and Refutations: The Logic of Mathematical Discovery
  41. What Is This Thing Called Science?
  42. The Art of Computer Programming
  43. The Little Schemer
  44. The Seasoned Schemer
  45. Data Structures Using C and C++
  46. Algorithms + Data Structures = Programs
  47. Structure and Interpretation of Computer Programs
  48. Concepts, Techniques, and Models of Computer Programming
  49. How to Design Programs: An Introduction to Programming and Computing
  50. A Science of Operations: Machines, Logic and the Invention of Programming
  51. Algorithms on Strings, Trees, and Sequences: Computer Science and Computational Biology
  52. The Computational Beauty of Nature: Computer Explorations of Fractals, Chaos, Complex Systems, and Adaptation
  53. The Annotated Turing: A Guided Tour Through Alan Turing's Historic Paper on Computability and the Turing Machine
  54. Computability: An Introduction to Recursive Function Theory
  55. How To Solve It: A New Aspect of Mathematical Method
  56. Types and Programming Languages
  57. Computer Algebra and Symbolic Computation: Elementary Algorithms
  58. Computer Algebra and Symbolic Computation: Mathematical Methods
  59. Commonsense Reasoning
  60. Using Language
  61. Computer Vision
  62. Alice's Adventures in Wonderland
  63. Gödel, Escher, Bach: An Eternal Golden Braid

    Video Game Development Reading List


  64. Game Programming Gems - 1 2 3 4 5 6 7
  65. AI Game Programming Wisdom - 1 2 3 4
  66. Making Games with Python and Pygame
  67. Invent Your Own Computer Games With Python
  68. Bit by Bit
u/Iron-x · 1 pointr/marketing

Hot Button Marketing does a good job of laying out the emotional and rational reasons that drive consumer behavior.

http://www.amazon.com/Hot-Button-Marketing-Emotional-Buttons/dp/1593375166

The Art of the Start by Guy Kawasaki is a good read. He's currently working on an update.

http://www.amazon.com/The-Art-Start-Time-Tested-Battle-Hardened/dp/1591840562

u/propter_hoc · 1 pointr/Entrepreneur

Yes, management consultants will happily take your money to do this. If there is a WeWork in your city they may congregate there.

There are also a large number of business guys looking for people like you to start companies with. Try hanging out at startup happy hour events.

These are not high-probability paths to success, though. You would be better off studying business strategy and trying to figure it out yourself.

Consider Guy Kawasaki's "The Art of the Start" which is a good introduction.

u/mhoffma · 1 pointr/AskReddit

The number of great books to be read on business itself is beyond enumerable. There is even a book on the 100 best business books written here: http://100bestbiz.com/

For helping your brother decide whether he has the stomach and skills it takes to be an entrepreneur, I'd suggest Art of the Start by Guy Kawasaki and Founders at Work

At the end of the day, it's a bipolar ride that I'm not sure any book can prepare you for...



u/flexiverse · 1 pointr/programming

Does anyone ever even research or read when they start up?

Art of the Start: 1. find problem. 2. solve problem. 3. give value for money. It really isn't complicated.

http://www.amazon.com/Art-Start-Time-Tested-Battle-Hardened-Starting/dp/1591840562

u/TJ700 · 1 pointr/personalfinance

My own advice would be to start early (you're doing that) and to go with no/low fee investments. This will make a huge difference over time.

You might also check out the personal finance book "The index card," and the video "How to Win the Losers Game."

u/DrunkenTarheel · 1 pointr/personalfinance

I like this book. It's short, simple, quick read and lines up well with the /r/personalfinance principles.

Maybe get her something fun though too, as useful as that book is, it's still a book about finance haha.

u/OzzyMosley · 1 pointr/Futurology

Doing that job well is not very hard. All the investment advice you'll need fits on a postcard.

>Max your 401k or equivalent employee contribution.
>
>Buy inexpensive, well diversified mutual funds such as Vanguard Target 20XX funds.
>
>Never buy or sell an individual security. The person on the other side of the table knows more than you do about this stuff.
>
>Save 20% of your money.
>
>Pay your credit card balance in full every month.
>
>Maximize tax-advantages savings vehicles like Roth, SEP and 529 accounts.
>
>Pay attention to fees. Avoid actively managed funds.
>
>Make financial advisor commit to a fiduciary standard.

http://www.amazon.com/The-Index-Card-Personal-Complicated/dp/1591847680

u/blueeyetea · 1 pointr/PersonalFinanceCanada

Or an index card

u/risk_parity · 1 pointr/personalfinance

Try to target 6-12 months of living expenses. Call this your emergency fund.

Do you have any debt? Pay that off next.

Third, try to invest money in tax advantaged spaces, (IRA, Roth IRA, 401k).

Plenty of good books out there on investing and personal finance. I favor the book below:

The Index Card

Why Personal Finance Doesn't Have to Be Complicated
https://www.amazon.com/Index-Card-Personal-Finance-Complicated/dp/1591847680

​

The Little Book of Common Sense Investing
www.amazon.com/Little-Book-Common-Sense-Investing/dp/1119404509

u/SamdyGray · 1 pointr/UKPersonalFinance

I would also add Rich Dad Poor Dad by Robert T. Kiyosaki, yes, it's aimed at an American readership but the principals are still the same.

It doesn't teach you to pick stocks or anything specific like that, but for me it was a real eye opener and educated me about having your money work for you, rather than the other way round.

u/johnsmithindustries · 1 pointr/personalfinance

Real estate has the benefit of being equity that can yield you a pretty high income and you can shelter your earnings from taxes by incorporating. (Think rental property - the property has value but it also yields rental income) Of all the rags to riches stories out there, most people seem to do it with real estate.

A good portfolio of dividend-bearing stocks is a great source of passive income. Investment earnings are only taxed at 15% so you get to keep most of it but you have to build a large investment (read: hundreds of thousands of dollars) before you'll get returns that you could live on.

I've never considered franchising or other types of business ownership but most millionaires own their own business, so keep that in mind.

I have a feeling you would LOVE Rich Dad, Poor Dad. It doesn't get a lot of love for useful content, but it presents a really good way of looking at money a bit differently that has stuck with me for a long time.

u/jonnywishbone · 1 pointr/Anxiety

Also, get a copy of Rich Dad Poor Dad (http://www.amazon.co.uk/Rich-Dad-Poor-Robert-Kiyosaki/dp/1612680003/ref=sr_1_1?ie=UTF8&qid=1409136346&sr=8-1&keywords=rich+dad+poor+dad) - I wish I'd read this when I was younger, might give you a new perspective...

u/charlitstarlett · 1 pointr/FIREyFemmes

the simple path to wealth by JL Collins

I suggest reading some personal finance blogs before getting books. information in bite size pieces, so you won’t feel overwhelmed, you can get a general consensus from many bloggers, and you will realize that investing and planning for retirement isn’t super complicated.

And podcasts! I am really into Suze orman’s new podcast “women and money”

u/SiberianGnome · 1 pointr/personalfinance

I apologize if you had indicated your gender and I missed it. Otherwise I am old school (got this from my 60 year old female freshman English teacher way back in the day) and unknown genders use the masculine form.

As far as reading materials:

https://www.amazon.com/gp/aw/d/B01H97OQY2/ref=tmm_kin_title_0?ie=UTF8&qid=1479088087&sr=8-1

I haven't read this book. I've read everything on his blog, and it's my understanding that the book is a reorganization of the key parts of the blog. I wanted to read the book before recommending but it's been checked out of my library since they got it (and the author is so serious about financial independence that his recommendation was to get it from the library instead of buying!). It is available on the kindle.

Most of the info in the book is probably included for free in this series of blog posts.

http://jlcollinsnh.com/stock-series/

u/WideSmilesAbound · 1 pointr/personalfinance

Read If You Can. The PDF is free online and it will only take you an hour or so to get through. Then read the books that are recommended at the end of each section. You will then know more about investing than 95% of people.

u/ichivictus · 1 pointr/investing

Read this cheap ebook and the books it assigns you. The books it assigns are all very highly recommended here.

u/revolvingcreddit · 1 pointr/investing

Brissie Ozzie here. Sounds like you've learnt a good lesson about property investing. It's all part of the process.

My strongest recommendation is to read If You Can: How Millennials Can Get Rich Slowly. It's probably the best US$0.99 investment you'll ever make. Also read his other books, the Bogleheads forums and the other books recommended there.
All of those sources are aimed at US investors but you can apply most of the principles here.

I've got pretty extensive local and international experience in investing and am happy to answer questions you might have, but I'm not a financial advisor so you should not take anything I say here as financial advice.

u/finance_throwaway_55 · 1 pointr/Finanzen

Hier ist das relevante Buch

Eine der Kernaussagen: Schuldzinsen sind sichere und feststehende zukünftige Zahlungen. Zinsen auf eigene Investitionen sind unsicher und nicht feststehend. Zurückgezahlte Schulden sparen mit Sicherheit die Schuldzinsen, also ist für einen Retailinvestor gesparter und somit sicherer Zins unsicherem Zins vorzuziehen.

Was du mal durchrechnen musst ist folgendes: Wie schnell kannst du mit Sondertilgung deinen Kredit ohne Malus abbezahlen? Wie schnell mit Maluszahlung? Hast Du möglichkeiten, das Schuldgeld alternativ besser anzulegen mit besserem Risk/Return?

u/jhiojhiop · 1 pointr/Finanzen

> In das Buch schmöker ich mal rein. Ratgeber waren mir ja Zeitlebens suspekt ("Wie wird man reich? - Verkauf ein Buch mit dem Titel 'Wie wird man reich?'").

Das Buch von Gerd Kommer (bzw. diese "größere" Version) kann man allerdings empfehlen. Das ist eher eine etwas aufgehübschte und praktisch orientierte Version seiner Doktorarbeit, die im Prinzip wissenschaftliche Erkentnisse zusammenfasst und zugänglich macht. Ggf. gibt es das ja auch in der Bibliothek oder per Fernleihe zum reingucken.

u/inn4tler · 1 pointr/Austria

Dein Link führt mich auf eine Fehlerseite von Amazon. Ich nehme an, du meinst dieses Buch, oder? https://www.amazon.de/Souver%C3%A4n-investieren-Indexfonds-ETFs-Book/dp/3593508524/ref=sr_1_1?keywords=souver%C3%A4n+investieren&qid=1565635686&s=gateway&sr=8-1

Klingt interessant, danke.

u/fjuun · 1 pointr/Finanzen

> Volksbank für die Eröffnung eines Depots Union Investments

Uff. Wenn du dich hier im Subreddit ein bisschen umguckst, wirst du sehr schnell feststellen, dass Union Investments und eigentlich alles, was dir deine Volksbank zur Altersvorsorge anbieten wird, ziemlicher Mist ist, weil: Im besten Fall mittelmäßige Rendite, die von den völlig überhöhten Verwaltungskosten aufgefressen wird.

Kauf dir dieses Buch vom Subreddit-Papst und beschäftige dich erstmal ein bisschen mit dem Thema, bevor du beim Bankverkäufer irgendwas abschließt, denn da ärgert man sich nachher schnell über sich selbst.

> Riester

Riester ist erstmal nur ein Rahmen für eine staatlich geförderte Altersvorsorge. Ob es sich lohnt, hängt sehr stark vom Einzelfall ab. In aller Regel ist die Rendite aufgrund der gesetzlichen Voraussetzung, dass im Alter mindestens der Einzahlbetrag wieder zur Verfügung stehen muss, eher mies, da die Anbieter dann halt auf Nummer sicher spielen. Außerdem gibts auch hier meist ziemlich hohe Gebühren (typische Ausnahme und der einzige, der für mich persönlich in Frage kommen würde, ist der fairr-Riester).

Aber je nach persönlicher Situation kann sich ein Riester schon lohnen, z.B. bei hohem Einkommen und Kindern aufgrund der staatlichen Zulagen und der Steuervorteile.

Aber generell wäre mein Tipp: beschäftige dich in den kommenden Wintermonaten nochmal mit dem ganzen Thema Altersvorsorge. Das ist alles nicht so wild und ob du jetzt oder Anfang des nächsten Jahres damit anfängst, macht den Braten auch nicht fett, vermeidet aber den einen oder anderen ärgerlichen Anfängerfehler.

Eine gute Anlaufstelle ist neben /r/Finanzen auch der Finanzwesir.

u/FreeBribes · 1 pointr/AskReddit
u/JustSomeBadAdvice · 1 pointr/relationships
u/Y0Bae · 0 pointsr/investing

Highly recommend reading Poor Charlie’s Almanack by Charles Munger. The book has amazing investing and business/life advice that’s worth more than $5000 especially to someone who is 19.


Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger, Expanded Third Edition https://www.amazon.com/dp/1578645018/ref=cm_sw_r_cp_api_i_KqsKDbEA638G9

u/misnamedsuglyhead · -2 pointsr/investing
u/Badrush · -5 pointsr/PersonalFinanceCanada

Wow you're knowledge is at zero. An RRSP is an investment vehicle, unless it's a special kind offered by a bank you won't even get anything if you let it sit there as cash.

I'd try to explain things but it would take me forever.

.

  1. Read up on RRSP and TFSA

  2. Realize you need to buy Index Funds or ETFs

  3. Open a brokerage account with Questrade or a bank.

    .

    To get the above answered I recommend looking through this sub or buying this book (It's not mine but it is very easy to read in a weekend and gives you an explanation for everything).

    http://www.amazon.ca/Value-Simple-Practical-Complexity-Investing/dp/0987818910/ref=sr_1_2?ie=UTF8&qid=1420877097&sr=8-2&keywords=simple+investing