I had a great Skype call today with a new subscriber who’s looking to get more involved with their own investing which is great, I always support that. One of the questions that came up was, what books can I recommend to get him started?
So I’ve got three books here that I feel all investors looking to take a more active role will benefit from reading. If nothing else they are entertaining. But before I do that, just a quick word about books and learning from so called “investing guru’s.” This is just one mans opinion so take with a grain of salt, but for what it’s worth here it is.
In general, find your own way.
I talk about benchmarks and average financial industry returns a lot, and hopefully everyone has absorbed the information and realized that the majority of investors, even many of the famous ones underperform basic index funds.
Books are fine to learn basic concepts and fundamentals, but the best way to learn is to open up a paper trading account, roll up your sleeves and get started. Test out your ideas in live trading over longer periods of time (paper account of course, but they are live execution prices)
With stocks at all time highs and interest rates at all time lows, traditional portfolio management is likely heading for disappointment in the coming decade so don’t be afraid to be different. We’ll all need a little out of the box investing if we’re going to succeed.
If you need help, I’m always here. Run ideas past me. Send me some of your results as you progress. We can brainstorm what you’re doing together. Only as a guide though, mostly it’s about you and your ideas.
Perhaps my strategies will form the core of your portfolio, but that doesn’t mean you can’t be trying to build your own tools to further diversify your fund. If you’re profitable in a paper account after a year then maybe it’s ready for prime time, but you won’t know until you try.
Books are ok, but nothing beats live investing experience
Option Volatility & Pricing (Sheldon Natenberg)
A Random Walk Down Wall Street (Burton G. Malkiel)
The Essays of Warren Buffett (Lawrence A. Cunningham)
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