Hi everyone, sorry this site does'nt have a OFF TOPIC section so i needed to ask you guys a favor. Im a 30 year old business owner that does'nt know a thing about the stocks and investing in Funds, real estate, etc. So i wanted to ask people wiser than me if they could tell me some books to read to learn more about and that would inspire someone like me.

The first and only book i've read so far is Rich Dad Poor Dad, Richest man in Babylon.
I've thought of getting :Art of the Deal, and The Dummies series.

Im really sorry for having to put this here but if i get richer quicker i can buy a Porsche sooner. So i guess this does have something to do with Porsches.

Thank You Guys..

 

I was the same way 2 years ago. I read alot of books because I didn't want to be like my father who works very hard, but has no idea where his money goes. By far the best book I read was "The Intelligen Asset Allocator" by William Bernstein. Sidenote: I am a conservative investor and believe in logical degrees of risk with respect to age and anticipated retirement age. The book talks alot about utilizing various index funds to take advantage of low expense ratios (annual expenses) and to take advantage of diversification. It discusses risk dilution with the use of a small percantage of bonds.

More importantly, it has taught me how to come up with a plan, stick to it, and then just forget about it. I am too busy with work to worry about what stock I should buy or sell off today, and at what time. Even if you prefer a higher risk approach, it will explain it to you so you can go about it in an intelligent manner.

Also, like this board, do it all yourself. You could pay some guy a bunch of money in commissions, but I prefer not to. The thing about brokers or financial advisors, they make a commision regardless of if you sell a loser, or buy a hopeful winner.

Good Luck!

 

While some feel the book is a bit dated, I would suggest you read "The only investment Guide you will ever need" by Andrew Tobias.

 

There is an OT, look under the General tab

There are lots of excelent books starting w/ Ben Grahams 1949 classic the "Intelligent Investor" to more up to date classics like Bernsteins "The Inteligent asset Allocator", to various publications by John Bogle, Larry Swedroe, Rick Ferri, Fama and French etc.

A good list can be found here

and some time spent hear at Morningstar/discussions Could be profitable

 

^^^^^^ Like Bill said +

Read Barron's... (delivered Sunday) watch their picks and pans on Monday. You will be surprized at the clout they have with investors.

Making money in stocks is not luck... just good research.

 

Thank You very much everyone....

 

call up Vanguard and ask for all their getting started booklets

high expenses and fees will sap your investments like a parasite on your body sucking blood...

 

I sent you a PM.

 

Jim Cramer's Real Money is a great book. You won't make any money watching his TV show and becoming one of his sheep who buy when he says to buy, but you stand a decent chance (with practice) if you follow his principals and apply them to find your own stocks.

Paper trade for at least a year before you use any actual money.

Investor's Business Daily is a great daily newspaper for investors. You can sign up for a free trial at www.investors.com.

Good luck!

 

Thank You all for your input i was very close to getting the Intelligent Investor but i decided let me start with Investing for Dummies series. It was much simpler to understand and i will definitly continue with the others after.....


Thank You

 

A random walk down wall street by Malkiel is good for the basics.

 

if you've got the time- diversify and have the discipline to sock away as much as you can on a regular basis, dollar cost averaging in the long run and watch expenses

if you're playing catch up do it even harder....don't believe you can beat market returns after trading costs