What are some good books on investing?
Tuesday, January 26th, 2010 at
12:18 am
Josh asked:
I’m 20 and just starting to look at how I might want to be investing my money. Any good books out there to get me started?
I’m 20 and just starting to look at how I might want to be investing my money. Any good books out there to get me started?
Tagged with: Good Books • Investing Money
Filed under: Investing
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Don’t take any offense but Investing for Dummies is a good one for newbies. I also liked Teach Yourself Investing in 24 hours, Real money. Avoid Reach Dad Poor Dad.
“Rich Dad Poor Dad”
It is the best financial book I bought. It teaches you so much about life, and different perspectives on money investments and the way you live your life ( because that determines how eligable you are to become rich ) it shows you where you are going wrong and how to become rich by simply the way you see things. it explains the diff. ways poor dads teach the kids and the way rich dads teach their kids! It is a life changing book especially if your young, I’m 20 too… I’m glad i read the book because it helps me avoid making common mistakes that could lead to what the book calls the “rat race”.
Wow. Two very different perspectives above me. Rich Dad… give you a life perspective while the investment books will show you specifics on the market.
A great basic investment book is “The Wealthy Barber.” If you have time you should read all the different suggestions.
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The definitive reference on the art of investing is best described in Benjamin Graham’s “The Intelligent Investor”. It took me a while to get through it, though, so if you attempt it, give yourself time. It will introduce you to the following:
1) value-based fundamentals of investing in stocks and bonds,
2) what “margin of safety” is and how to apply it,
3) the necessity of developing mental toughness (attitude) to make the right decisions in an often irrational and emotional stock market.
The revised version with commentary by Jason Zweig is especially enlightening, providing more real-life examples from the past 2 decades.
“Understanding Wall Street” is a great book for beginners, I read that book when I was about your age.
Buy Jim Cramer’s books and watch Mad Money on CNBC at 6pmEST, if you follow his picks using his strategies you are guaranteed to make a lot of money. Rich Dad Poor Dad’s main focus is real estate investing which when done right yields more then stocks, except when investing with options. And owning your own business.
I have two suggestions : “The Millionaire Next Door” By Thomas J. Stanley and William D. Danko – and “The Automatic Millionaire Homeowner” by David Bach.
You should be set then. You can also read online articles. Therre are tons of them. I found a really simple one that seems to make a lot of sense :
Good reading!
Rich Dad Poor Dad = motivates you to invest and teaches some investing techniques. I read this book in four years ago, it motivated me to learn more about investing and now I know so much about it.
And engage in investing. By the way, I’m 16.
rule#1 by phil town. great book on setting up an investment plan.