Best Investment Books?

[InTheBum]

I'm currently reading "The Warren Buffet Way", and I find it is just too generalized to be much help in investing. Basically, the book suggests investing in under-valued stocks, in company's that are simplistic and you can understand. Then Buffet goes on to say, he doesnt think there are many good companys to invest in these days...


What is the best Investment book you've read and why?

Personally, I would give the Buffet book a 3.5 out of 5.

 

[LutherBlissett]

Money Logic or Wealth Logic by Moishe Milevsky.

http://www.captus.com/information/catalogue/book.asp?Book+Number=705

Reasons:

1) He is a mathematician/academic and uses rigorous statistical analysis
2) He's Canadian but his first book, Money Logic, is about the only Canadian publication on finances that sells well in the States
3) He won the Globe's stock-picking contest three years running
4) He busts a lot of myths (e.g., dollar cost averaging)
5) He's funny and easy to read
6) He tells you what not to do (as important as what to do)

 

[Gandalf]

Why are the guy's writing the books wealthy?

It's because people buy the books expecting some mind altering experience on how they can make their first million. Most of the books I've seen end up generalizing, or spewing common sense.

Stuff like - Buy in a low market, hold and sell high. Or my personal favorite by Mr Buffett - Rule 1 - don't lose money - Rule 2 - see Rule 1 - God that's Genius!

Seriously, if you want to invest, use money you can afford to lose (and not your house). If you want to brush up on the market, I suggest joining an investment club of some type where everyone contributes a few bucks each month ($50 for example) and the group discusses how to invest it during their monthly meetings. Helps you learn about different types of investment vehicles, but it's mainly playing stocks, funds, etc.

Start small, learn and work your way up.

 

[Jodie]

What is the best Investment book you've read and why?

In general, or on a specific subject/strategy? "Best" all depends on your needs: whether you are looking to generate wealth quickly, or over the long term, whether through stocks, real estate or some other means.

For a low-risk, common-sense strategy, try any of David Bach's "Finish Rich" series. They are filled with good, old-fashioned advice about how small sacrifices and good habits will guarantee wealth in the long-term.

For something a little more aggressive, Toni Turner's "A Beginner's Guide to Day Trading Online" gives some really detailed information on how the stock market works, how to read numbers, charts, etc., how to use Level II trading systems. Actually, it's a really good read for anyone interested in trading stocks, even if you don't plan to day trade.

For real estate, the best book I've found (and it's Canadian to boot) is Don Campbell's "Real Estate Investing in Canada." It gives step-by-step instructions on how to purchase investment properties, from setting goals to selecting appropriate properties to negotiating, and even some Canadian-specific legal and tax considerations.

 

[InTheBum]

Thanks!

Thanks for everyone's contribution!

 

[LonelyGhost]

the worst investment you can make is in an investment book ...
there went $39.95 you will never see again -- if you have to read
something like that, get it from the library, they are already
wasting taxpayers' money, you might as well help them.

the most effective investment strategy (and one used by the wealthy
but not by our governments) is SPEND LESS!!!

Instead of buying coffee (at $2+ a pop) buy a thermos, make it at
home and drink that all day. Stop buying newspapers, magazines,
and other shit you don't need ... get one phone, basic cable and
get rid of anything else.

It may all seem trivial but you can easily save almost grand a year just
by not drinking one cup of coffee a day ($2 x 365 is over $700!).

The next strategy is to take all that money you are saving and pay off
your debts! sell the flashy car and drive a beater or take the bus.

Wealthy people got that way not by having 'inside knowledge' they got
that way by being CHEAP! even when they have billions, they are
the cheapest pricks on the planet!

and too many poor people support their wealth by 'buying a lifestyle'
that they really cannot afford!

Once you have stopped spending and then paid off debts, pay yourself
first: build up savings that will stay as 'cash' because if you need it,
its there to use. And then invest in yourself ... get an education, get
training, do something that will get a better job with better benefits: or
start your own business (only way to become rich!).

As for investing in the stock market: here's the truth -- every stock
goes up and down ... just pick one that goes up and down with obvious
indicators and buy when its down and sell when its up and then buy when
it goes down again ... its what happens every October as investors dump
their stock for tax purposes, and then buy them back again in January
when they start going up again.

Every other stock market investment tip is BS unless its insider info and
that's illegal (see Martha Stewart and jail time!).

Finally, most important: you got one life to live. What you may think
is important may not be as important as you think it is. People who get
obsessed with money are often rich and miserable because they can't
spend a dime without agonizing over it!