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Started By
Message
College Student Wanting Knowledge
Posted on 7/14/08 at 5:41 pm
Posted on 7/14/08 at 5:41 pm
Hey guys. I'm just a poor college student, and I am completely ignorant to investing and the stock market (and about 95% of the stuff on Money Talk). Could anyone recommend a book(s) for me to read or browse through to pick up some useful information?
Thanks-
Thanks-
4
Posted on 7/14/08 at 5:49 pm to graymo2
Buy a shotgun and plenty of ammo.
Pick up the book "Recipes for Cannibals".
It is about to get bad.
Pick up the book "Recipes for Cannibals".
It is about to get bad.
Posted on 7/14/08 at 5:52 pm to TigerDeacon
I'm in your position. A few weeks ago I looked into ING sharebuilder with the hope of throwing in about 50 dollars a month to the stock market just to get my feet wet and get accustomed to it.
However, I decided to keep building my savings account for now until I have something comfortable to fall back on.
I don't think you can go wrong with gaining as much knowledge as possible though.
However, I decided to keep building my savings account for now until I have something comfortable to fall back on.
I don't think you can go wrong with gaining as much knowledge as possible though.
This post was edited on 7/14/08 at 5:54 pm
Posted on 7/14/08 at 11:28 pm to TigerDeacon
quote:
Buy a shotgun
Check
quote:
and plenty of ammo
Check
quote:
Pick up the book "Recipes for Cannibals".
I'll look into it.
Anyone else wish to help me out?
Posted on 7/15/08 at 1:57 am to graymo2
dave ramsey is the best
Posted on 7/15/08 at 2:43 am to graymo2
"the millionaire next door"
Posted on 7/15/08 at 7:15 am to graymo2
I suggest you delve into different areas to cover all your bases:
(1) economic fundamentals of finance -- preferrably, you should get this from courses in a university setting; at the very least, read up a little bit on financial history to understand why the financial industry exists, and what its functions are; a good book on the highlights of financial history given through developments in mathematics is Bernstein's book, " Against the Gods: The Remarkable Story of Risk"...
(2) Efficient Market Hypothesis -- a no-brainer; believe it or don't believe it, but it is essential to understand what it is, and the mechanisms by which it supposedly works; the obvious book for this is the classic written by Malkiel, " A Random Walk Down Wall Street," now in its 9th or 10th edition...
(3) current industry structure and market news -- subscribe to the Online Wall Street Journal; keep in mind that the op-ed side of the paper is filled with solid neoclassical economic liberals (writers who believe in the paper's maxim, "free markets and free people"--in other words by writers that, in American parlance, are called economic conservatives), while the news-gathering and reporting side of the paper is extremely left-wing (much more so than The New York Times, for instance)--it makes for an interesting mix; other basic websites like Bloomberg.com or ThomsonReuters.com (or magazines like Forbes, Fortune, The Economist, or The Financial Times, etc.) will give you financial news for free
(4) fundamentals of financial statement analysis and corporate valuation -- pick up a textbook or two on the subject; go through 10-Q and 10-K reports on the SEC's EDGAR Database; read classics like Benjamin Graham's " The Intelligent Investor" (first published in 1949, but now available with commentary from legendary value investor Warren Buffett); understand the dividend model for valuing stocks; go to an investment bank's research webpages (Deutsche Bank's research pages, for example; DB even has their own think tank for market research) and look up analyses given by research analysts working in the trenches
P.S. -- Oh, I almost forgot...
(5) don't get lost in the blogging world -- people who get the majority of their news forming their macroeconomic worldview on financial events from blogs are much like members of strange cults; don't join a cult, and try to avoid listening to cult members for advice
(1) economic fundamentals of finance -- preferrably, you should get this from courses in a university setting; at the very least, read up a little bit on financial history to understand why the financial industry exists, and what its functions are; a good book on the highlights of financial history given through developments in mathematics is Bernstein's book, " Against the Gods: The Remarkable Story of Risk"...
(2) Efficient Market Hypothesis -- a no-brainer; believe it or don't believe it, but it is essential to understand what it is, and the mechanisms by which it supposedly works; the obvious book for this is the classic written by Malkiel, " A Random Walk Down Wall Street," now in its 9th or 10th edition...
(3) current industry structure and market news -- subscribe to the Online Wall Street Journal; keep in mind that the op-ed side of the paper is filled with solid neoclassical economic liberals (writers who believe in the paper's maxim, "free markets and free people"--in other words by writers that, in American parlance, are called economic conservatives), while the news-gathering and reporting side of the paper is extremely left-wing (much more so than The New York Times, for instance)--it makes for an interesting mix; other basic websites like Bloomberg.com or ThomsonReuters.com (or magazines like Forbes, Fortune, The Economist, or The Financial Times, etc.) will give you financial news for free
(4) fundamentals of financial statement analysis and corporate valuation -- pick up a textbook or two on the subject; go through 10-Q and 10-K reports on the SEC's EDGAR Database; read classics like Benjamin Graham's " The Intelligent Investor" (first published in 1949, but now available with commentary from legendary value investor Warren Buffett); understand the dividend model for valuing stocks; go to an investment bank's research webpages (Deutsche Bank's research pages, for example; DB even has their own think tank for market research) and look up analyses given by research analysts working in the trenches
P.S. -- Oh, I almost forgot...
(5) don't get lost in the blogging world -- people who get the majority of their news forming their macroeconomic worldview on financial events from blogs are much like members of strange cults; don't join a cult, and try to avoid listening to cult members for advice
This post was edited on 7/15/08 at 7:34 am
Posted on 7/15/08 at 9:23 am to graymo2
Commom Sense on Mutual Funds by John Bogle is the only investing book that you will ever need.
A Random Walk down Wall Street is also a very educational book.
Read those two books, and you'll know everything you need to know about how the market works and what you should be putting your money into.
A Random Walk down Wall Street is also a very educational book.
Read those two books, and you'll know everything you need to know about how the market works and what you should be putting your money into.
This post was edited on 7/15/08 at 9:25 am
Posted on 7/15/08 at 9:26 am to TigerDeacon
hahahaha try Recipes for Carabou and crow for nancy pelosi to eat every day.
Posted on 7/15/08 at 9:28 am to poboydressedplease
A Random walk guide to investing is also very good and short read
Posted on 7/15/08 at 9:32 am to TulaneUVA
try Making Money Secrets by Don Lapre
Posted on 7/15/08 at 12:27 pm to Doc Fenton
Thanks everyone(esp. Doc Fenton).
I will look into some of these books.
I will look into some of these books.
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