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Retirement Book Suggestions
Posted on 4/1/13 at 2:55 pm
Posted on 4/1/13 at 2:55 pm
I have done some searching through the board and I have seen two suggestions to consider for reads. One being "A Random Walk Down Wall Street" and the other being the "Bogleheads' Guide To Investing."
Does anyone have any other considerations to read for assisting with retirement planning? Can anyone who is a reader of the two books above shed light on your opinions from reading either one? I want something to read that will provide further education with regards to planning retirement. Not so much what I should be investing in at every point in time.
Does anyone have any other considerations to read for assisting with retirement planning? Can anyone who is a reader of the two books above shed light on your opinions from reading either one? I want something to read that will provide further education with regards to planning retirement. Not so much what I should be investing in at every point in time.
3
Posted on 4/1/13 at 3:08 pm to RickAstley
quote:
"Bogleheads' Guide To Investing."
I can sum up the entire book and save you some time.
"Buy Index Funds and only Index Funds"
I'd recommend "Security Analysis" and "The Intelligent Investor" by Benjamin Graham. And Also "One Up on Wall Street" by Peter Lynch
Posted on 4/1/13 at 3:10 pm to RickAstley
Im still of the impression that Malkiel's "Random Walk" is the best ever written on the topic. Fads come and go, but his work has proven effective now for decades.
Posted on 4/1/13 at 3:11 pm to RickAstley
I haven't read Bogle's, even though I've read plenty on indexing(did read Random Walk). Random Walk basically is gonna say what Bogle theory is gonna say, and that is if you don't know what you aredoing, then index.
However, Random Walk somewhat goes into individual stock investing and talks about cashing in on others "irrational exuberance" on top of that theory.
I feel you can only read so much on indexing until it starts to repeat itself, since the alternative is A) You want to beat the market and think its possible for you to do and B)at which point you aren't going to index so read something else.
However, Random Walk somewhat goes into individual stock investing and talks about cashing in on others "irrational exuberance" on top of that theory.
I feel you can only read so much on indexing until it starts to repeat itself, since the alternative is A) You want to beat the market and think its possible for you to do and B)at which point you aren't going to index so read something else.
This post was edited on 4/1/13 at 3:21 pm
Posted on 4/1/13 at 3:21 pm to Teddy Ruxpin
Another good one is Peter Navarro's "Big Picture Investing" which is an audiobook found in most public libraries. He's a Prof at UC-Irvine that does private wealth management on the side. His focus is on individual stocks as opposed to indexes. He is probably guilty of understating the impact of brokerage fees in his strategy but does a good job explaining when to buy and when to sell in the context of the macroeconomic indicators.
This post was edited on 4/1/13 at 3:24 pm
Posted on 4/1/13 at 3:28 pm to Vols&Shaft83
Well you guys can rib me all you want, I purchased
last year and I've only read about a third of the book. I am not knocking the book for its value, but it hasn't been a good starter book for me. And I am much more on the beginner side as someone who is new to the investing scene and does not have a finance background. Maybe not a great excuse for not finishing it, although I do plan to tackle it after I've gotten my feet wet. Rather than taking the approach to read it without a clue to what I am getting myself into.
quote:
"The Intelligent Investor" by Benjamin Graham
last year and I've only read about a third of the book. I am not knocking the book for its value, but it hasn't been a good starter book for me. And I am much more on the beginner side as someone who is new to the investing scene and does not have a finance background. Maybe not a great excuse for not finishing it, although I do plan to tackle it after I've gotten my feet wet. Rather than taking the approach to read it without a clue to what I am getting myself into.
This post was edited on 4/1/13 at 3:31 pm
Posted on 4/1/13 at 3:39 pm to RickAstley
Graham's intrinsic value concept is among the most widely discussed in Econ and Investing. The book is a classic but not the most practical in modern investing given some of the alternatives listed in this thread.
Posted on 4/1/13 at 3:49 pm to wiltznucs
If you were recommending to a beginner, think freshman level learner regarding finance, what book would say tackle first?
1. Intelligent Investor
2. A Random Walk Down Wall Street
3. Big Picture Investing
1. Intelligent Investor
2. A Random Walk Down Wall Street
3. Big Picture Investing
Posted on 4/1/13 at 3:58 pm to RickAstley
Random Walk... No question...
Some concepts get a bit heavy when discussing CAPM or efficient market theory but I'd say that 80% could be understood by someone with an elemental understanding of money and finance.
The only weakness in any of the titles mentioned is that none of them has a section devoted to Bitcoins...
Some concepts get a bit heavy when discussing CAPM or efficient market theory but I'd say that 80% could be understood by someone with an elemental understanding of money and finance.
The only weakness in any of the titles mentioned is that none of them has a section devoted to Bitcoins...
This post was edited on 4/1/13 at 4:44 pm
Posted on 4/1/13 at 5:14 pm to wiltznucs
quote:
Graham's intrinsic value concept is among the most widely discussed in Econ and Investing. The book is a classic but not the most practical in modern investing given some of the alternatives listed in this thread.
I agree, I do believe every successful investor should read it eventually, because it is kind of "The Grandfather of them all".
Posted on 4/1/13 at 7:58 pm to wiltznucs
Thanks for your advice 
Posted on 4/1/13 at 8:24 pm to RickAstley
The Essays of Warren Buffet.
Posted on 4/1/13 at 9:59 pm to raw dog
Michael Burry Recommended Reading List
The Intelligent Investor, by Benjamin Graham and David Dodd
Common Stocks and Uncommon Profits and Other Writings, by Philip Fisher
Why Stocks Go Up (and Down), by William H. Pike
Buffettology: The Previously Unexplained Techniques That Have Made Warren Buffett The World’s Most Famous Investor, by Mary Buffett and David Clark
The Art of Short Selling, by Kathryn Staley
The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend, by Janet Lowe
The Intelligent Investor, by Benjamin Graham and David Dodd
Common Stocks and Uncommon Profits and Other Writings, by Philip Fisher
Why Stocks Go Up (and Down), by William H. Pike
Buffettology: The Previously Unexplained Techniques That Have Made Warren Buffett The World’s Most Famous Investor, by Mary Buffett and David Clark
The Art of Short Selling, by Kathryn Staley
The Rediscovered Benjamin Graham: Selected Writings of the Wall Street Legend, by Janet Lowe
Posted on 4/2/13 at 9:24 am to matthew25
Yes "The Bogleheads Guide to investing" is all about index funds. I would recommend the bogleheads guide to retirement planning though. Maybe not now, but as you get closer to retiring. It's more of a withdrawal strategy/planning/ss guide.
Posted on 4/2/13 at 2:24 pm to Venelar
So you think I should bypass the Bogleheads guide to retirement and settle on another book such as "A Random Walk Down Wall Street?"
Posted on 4/2/13 at 3:03 pm to RickAstley
Sure for now. I'd still keep it on the "needs to be read someday" list though.
Posted on 4/2/13 at 4:12 pm to Venelar
Thanks for your feedback
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