Books about finance and how to make $$$

>intelligent investor
be a good goy and you'll be rich in 50 years.

focus on increasing your cashflow. rental properties that generate passive income are ideal for this as it will give you regular capital for investing. and obviously, develop marketable skills to increase wage income.

equities are generally the best place to put your money for the long run. though we are late cycle and stocks are at all time high PE ratios. probably not be the best time to buy in, unless you dont plan on pulling money out any time soon. warren buffett is mostly keeping cash on hand because of high prices.

definitely do not put money into bonds right now because of the rate raising cycle. commodities may be poised to rise due to inflation and global economic growth. increased consolidation, and the network effect in tech, means large cap stocks see most of the growth.

books like that are ok to get you into the mindset of investing. it's basically the equivalent of a self help book. full of homespun wisdom and fluffy anecdotes but light on actual relevant practical detail for ordinary people. still, buffett likes it so that's worth something.

>If you really want to be good at finance I would recommend going deeply into economic reading and probably even becoming pretty comfortable with accounting
nope. the only people who need to be "pretty comfortable with accounting" are actual accountants. i am a company director but i don't have a clue how to e.g. calculate my company's corporation taxes (beyond knowing that they are too high). i have someone who does that for me.
as for "economic reading" well yeah any reasonably well informed person needs to have an idea about the general atmosphere regarding interest rates, inflation etc. but you can get that by reading the business news every now and again.

really the best way to learn about "finance and how to make $$$"- and i'm guessing from the wording that OP doesn't currently have "$$$"- is to find a site that allows you to run a dummy portfolio and experiment with it for a year or two. although what you will likely learn is that for most people, a simple basket of maybe 10 diverse ETFs that you buy, and maybe review once a year, will give you better returns than the vast majority of people who think they can time the markets.

pic generally unrelated but it's similar to the one i bought myself when my portfolio first went over £1 million

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>is to find a site that allows you to run a dummy portfolio and experiment with it for a year or two.
Tell us more user

none of this advice is useful

>pic generally unrelated but it's similar to the one i bought myself when my portfolio first went over £1 million

How come you bought a PRS, that is the worst possible investment in the electric guitars market?

>nope. the only people who need to be "pretty comfortable with accounting" are actual accountants. i am a company director but i don't have a clue how to e.g. calculate my company's corporation taxes (beyond knowing that they are too high). i have someone who does that for me.

Accounting is more than just doing taxes, if you have a solid understanding of accounting you can identify is a company is effectively utilizing capital.

If you want to actively manage your portfolio of equities and bonds it is best to stick to an investment theist ( What strategy you want to use) and understand your time horizon ( how long you want to be invested for)

This is can end up taking up a lot of time though and this is why people like Warren Butt just say to buy an ETF that mirrors the S&P 500 and just keep putting money in it regularly .

Not him but he means paper trading.

Download thinkorswim and use it for paper trading.

You invest/trade stocks and you start with 100k of pretend money.

Test the waters with a couple of strategies and when you feel comfortable, get a live account.

larping faggot

k user whatevs. stick to bitcoin gambling, it's the best way to make money these days, guaranteed

i didn't buy it as an investment, i bought it to play. and oh my word it sounds beautiful, even though i'm only a hamfisted pub rock weekender
if i wanted to buy guitars as an investment i'd buy pre-CBS fenders or something but when buying "alternative investments" it's best only to go with what you know and as much as i love guitars i don't have the specialist knowledge to make value judgements about such things.

there's nothing here i'd disagree with except maybe the first statement. even as a reasonably experienced investor i could not make a judgement about whether a company is "effectively using capital". sure i can read a company annual report but even so i have no idea as a normal person if a massive FTSE100/S&P500 etc company is making a sensible decision when it is investing in wakanda pineapple futures or whatever. and sometimes nor do most of the people working for that company, as the various massive financial mismanagement scandals of the past few years (e.g. tesco) show. if i want that sort of knowledge, i'll take advice from a specialist.

yes this. of course it is frustrating when your paper portfolio doubles in a month and you miss out on the real money but it's better than buying for real and watching your favourite shares plummet overnight. although the latter does teach a sharp painful lesson.
(incidentally having "favourite" shares is not a good plan. your shares won't love you back)

bit rude desu

>even as a reasonably experienced investor i could not make a judgement about whether a company is "effectively using capital"

When I say this I am referring to are financial ratios i.e (Free Cash Flow/Operating Cash Ratio,Debt-Equity Ratio, Quick ratio) ect ect

Then you also have to compare X company to Y company who is int he same industry to get a benchmark.

This is all stuff you get taught in a Finance major and are usually listed on the front page of an analyst's report/ can be looked up on Morningstar/Yahoo Finance/Bloomberg

These are things you should know "if you really want to be good at finance"

daddy

Intelligent Investor and Sec Analysis are both great as fundamentals. I think they are falling out of fashion now that kids who know calculus + stats are just throwing "models" at markets hoping something sticks long enough to make profit at random inefficiencies.

Note that the main thesis is that, unless you make evaluating and investing your full time (80hour/week) career you are better off just going with index funds because Means of Production will always produce value while memes of production will not necessarily produce any value even if they are "in demand" (housing, precious metals etc).

Having to actively manage a portfolio is something professionals get wrong, an amateurs can try but probably won't have the luck (and insider information) that people who make Investing their life's work have.

But if you want to make it your life's work, you have to at least have read what Graham and Dodd have to say (so you can understand institutional meta) even if you pursue active managed strategies (gl hf). Also read Bogle's little book; even though he is obviously shilling Vanguard and his strategies, his strategy still "won" and he has the institution to prove it.

And honestly the best strategy to accumulating money is just to discipline yourself from spending it.

just buy bitcoin

>How to Win Friends and Influence People
>Capital
>Basic Economics by Sowell

what the fuck is this mishmash collection of retarded ass shit?

Good read for the first, and final chapters (middle is boring macro). George Soro's is a good philosopher.

the pursuit of material wealth is fundamentally incompatible with the Veeky Forumserary lifestyle.

I would personally not recommend paper trading. I would say it is best to test and learn with real cash (of course in an amount you would be comfortable to lose) because there is a very different mentality if you have skin in the game and real money on the line. What risks you take, when you take profit or sell, is very different, even if you try hard to ignore it, if there are no stakes.

Is reading any of this going to make wealthy, or is it just luck? By wealthy i mean top 5%.

Index funds will get you about 12% average per year based on historical performance over the past 100 years. If you keep contributing and don’t sell in a panic in like a 401k or Roth IRA you will almost certainly retire with a lot of passive income from investments. Or you could gamble with options and either make 10x+ you investment or lose it all.

The fastlane millionaire

rich dad poor dad

The way I see it you learn to invest in order to build a sustainable yet comfortable lifestyle. Find a steady income and put your money into an index. If you want to be the richest man in town your only feasible option is to innovate. Either create a new product or find a more efficient way of doing business.

Get it out of your head that you'll ever become rich by risking your own money day trading.

Bodie, Kane and Marcus Investments

I am dead serious, there are plenty of plenty of good books already mentioned ITT but you really need to start with the plain vanilla textbook or all you'll get from all these other books is second hand wisdom which will do you no good.

>a simple basket of maybe 10 diverse ETFs that you buy, and maybe review once a year, will give you better returns than the vast majority of people who think they can time the markets.
This is legit the ideal investment for like 90% of people, just put your money there and leave it alone, forget the stock market even exists, it's the best decision you'll make.

Veeky Forums is fucking impossible to discuss anything on since all they talk about is crypto. Every single thread. I've actually been meaning to start an economics/finance/business Veeky Forums general for a while now but I don't know if there's any interest.

Do it. Biz is shit now.

Well we're already using this thread for now I guess.

Surely this is for people who are already in the business.

I would post in this

I'd read it and pretend like today is the day I finally start learning but I'll just collect book reccomendations and keep being a piece of shit instead.

independent.co.uk/arts-entertainment/books/news/shakespeare-the-hard-headed-businessman-uncovered-8555996.html

That book was such a slog. In the first sentence it says it was for the 'layman' then proceeds to go citations with full raid gear

Partially. Much of the "Written by former GS employees" section probably requires some industry experience and/or background knowledge, and the analytical and reference section would be all but useless, but the industry background and flavor section is very interesting and applicable.

yeah do this man

Alright cool, I'll give it a go later on when this thread dies I guess.

ops actual advice at the end about a diverse basket of etfs for the average pleb it good, but dissing the intelligent investor? you realize graham was the first person to do "value investing" and that book explains what it is? oh, and then you said you don't need to know accounting...you know why you dumbfucks can't understand graham? because you can't read a balance sheet because "accounting isn't "useful". most active trading strategies are fucking gay and a waste of money, but if you look at the returns on companies like microsoft, apple, and amazon and compare them to any etf chart you will see etfs can never even compare to the growth in the greatest growth stocks, tha'ts why people bother with investment research because when you find undervalued companies or newly public companies with potential you can make a fortune, no one is going to become wealthy from an investment in etfs, but if you put 50,000 in amazon or apple in 2003 see how much money you would have compared to your etfs. that is the point of investing and reading investing books, to try to find those one or two companies with massive returns beyond the market average.

i find most people are fucking stupid when it comes to investing or don't even have any investments at all, i don't know why i even bother engaging in this dumb ass thread. most people are so fucking stupid. i'm surprised one of those autodidact idiots hasn't recommended some 2500 year old greek scribblings about wealth or some shit, if you really want to learn on your own an not be an autodidact clown learning wrong shit, why don't you watch some classes on portfolio management and accounting online, mit sloan has some, but there's a million of them out there

why the hell am i wasting my time trying to help idiots, i need to be more selfish, i think it's my ancestor's christianity that leads me to want to be overly helpful to retards, creeps, and other horrible people, i see the pope kissing some convict or refugees feet and im like god damn i need to free my mind of this, why am i offering advice to people who would rip me off or kill me if they had the chance, no one cares about me, no is gonne write 500 words giving me advice to MY mother fucking problems or questions...fuck.

ur gey

>talking about value investing
>goes on a hindsight-heavy tangent on growth stocks
Really made me think there

i never endorsed or didn't endorse value investing, i merely stated the founding text of that strategy is clearly "significant"

>hindsight heavy

you didn't have amazon, apple and google in your portfolio for the last decade? sad, but i'm sure all your etfs went up like 50% so there's that i suppose...

i know tech, the main times i have bought flat turd stocks is when i go out of my area looking to "diversifiy" out of tech, for that i now use etfs because there is no advantage in spreading myself to areas i'm not intimately knowledgeable about, the first time i realized being an autistic crank who spends hours and hours every day trolling tech forums could help me invest was after clearly identifying nvidia would be the winner in 3d, back then everyone was obsessed with those stupid 3dfx cards that were total shit, where is 3dfx now? bankrupt? bought up by a patent troll? don't know, don't care, of course with the expansion of gpus beyond gaming and 3d is even more juicy than i could have expected... but that was the first time i realized i can figure things out that "experts" might not, granted i waited a while to get apple because the products after jobs first returned where no compelling from a technical aspect, but now of course i have a more holistic approach to consumer tech beyond "how fast is it" and the thing is nvidia wasn't just about speed, it had better looking graphics i.e full 32bit color to 3dfx 16, so i should have learned from that that with consumer products looking pretty matters, but after missing out on the ipod due to being a linux using trog i changed my ways, and kept learning, and revising the way i think

most people don't do that because most people have no experience yet know it all, i'm not saying i'm smart, i'm probably retarded and maybe a fag, not sure, but i've let my autism wild on tech stocks for like 20 years, and i've learned a few things, and done reasonably well, so every so often i get this weird urge to tell people things, but then i realize most people already know-it-all and that i'm retarded anyways, so let us not waste anymore time...go sign up for some day trading app and piss your money away

i didn't endorse value investing i merely stated the foundational text is clearly significant, and for that strategy you need to understand accounting...

>hindsight heavy

u didn't have amazon and apple in your portfolio for the last decade? sad, but hey i'm sure those etf went up like 50%

Nice try with the edit fag.

yeah well there's no point in writing out a bunch of autistic shit since u already know it all, ur right, benjamin graham is just self-help and accounting is stupid

Should I put $3,000 into a Vanguard index fund or should I wait for the stock market to get shittier first and then do it? To some people $3k is nothing but it's a lot to me.

You're not going to "play" the stock market with an index fund. You regularly put some money in and forget about it until you're 55.

literally just buy vtsax
then keep buying vtsax
then retire and live off or all your vtsax

>he thinks he's going to make big bucks off of a fucking index fund
jesus christ whites are so dumb sometimes, oy vey

It's the fault of leftist indoctrination during schooling. They don't know anything about economics and consequently the kids don't either.

bro the founder of vanguard just came out with a book (essay collection really) called "don't count on it", if u have ur whole life savings in vanguard funds u shud check it out, not cuz it will change your mind, but just cuz u might want to learn what the guy who created it all has to say, i listened to a little but i haven't had a chance to really get into it yet

its because of dysgenic breeding patterns honey

I'll check it out, but I think I'm safe

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Nigga Veeky Forums is crypto only board at this point

I never said I expected to make big bucks. Why must you make assumptions like that?

oh no i'm not saying what you're doing is bad, just that if you believe in vanguard then you'll probably be into the stuff the founder has to say about a range of topics

How do I gain enough to retire till I'm like 45, any reading recommendations?

read everything you can about investing, sperg out on charts and stats and shit like u min/maxin ur rpg character deciding what stat to put points in but instead u thinking what to put in ur portfolio, and most importantly invest all the disposable income you can afford to lose, gotta have experience with real money in the game

earlyretirementextreme.com/

do you get this from bitcoins?

does that look like a bitcoin chart to u bro?

look I don't understand money charts I'm just trying to learn here

This is what Bitcoin charts look like

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this kills the blockchain faggot

best index fund in your opinion?

just compare them all and find the ones that have the exposure you're looking for, there isn't really an objective best, but that vtsax guy has a point, although it's a mutural fund not an etf

kek

sorry brainlet here
>just compare them
how
>that have the exposure
what does this mean
> it's a mutural fund not an etf
what is the significance of this difference?

appreciate your time

another guy here, i'll try to help
>just compare them
management styles, asset types, bla bla bla, he could mean anything i guess
>that have the exposure
i think exposure as in either asset type: equities, bonds, reits, etc; or geopolitical: usa, europe, china, asia pacific, japan, etc.
> it's a mutural fund not an etf
etf's are funds that traded on the exchange, probably are index funds; mutual funds usually means funds sold by an investment holding company. the distinction is in their actual "insides", mechanisms and fees, rather than their name.

Best books on behavioural economics/finance?

>bizlit

I miss the days when Veeky Forums had threads about entrepreneurship and investment and not just cryptotrash.

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>i mean top 5%.
to be in the top 5% in europe/US requires a personal wealth of about £1.8m/$2.5m.
for most people "personal wealth" includes the house they live in and their workplace pensions. so it's really not that difficult to get into that bracket it you're prepared to work at it.

if you live in the US/western europe and have a reasonable job and somewhere to live, you're probably already in the top 5% worldwide.

t. patrick bateman
you're not wrong but you're also a dick

>How do I gain enough to retire till I'm like 45
first you have to work out how much you're going to need to live on when you retire.
let's say you want an income of 30,000 when you retire (in whatever currency you want £/$/€/whatever)
you will need to have a capital of about 20x that, so that a return of about 5% will give you the income you want. so 30,000 income = 600,000 capital
this is not that difficult to obtain. but if you want it by 45, you have to start early. as soon as you start a job, even if it is a minimum wage mcjob, put 10% of your income (more if you can afford it) into an investment vehicle of your choice (etf or fund or individual shares). this will hurt at first but you will get used to it. increase the percentage when you can but don't reduce it except in emergencies. also 10% might not sound a lot but the miracle of compounding is on your side.

inb4:
...some fucknut bleats about 30k not being enough. just adapt the number to whatever you want. also consider that in retirement people need less income than when they are working. and for most people retirement happens after they have paid off their mortgage and after their kids have left home.
...some other fucknut blathers about 5% a year not being a good return. sure you can make 80000% in a minute or whatever gambling on bitcoin. but you cannot sustain that forever. some years will be better but some will be worse. your retirement capital has to last forever.

incidentally the chances are that if you have a job that you enjoy, you won't actually want to retire at 45. i am in that top 5% bracket in the UK but i still work: i am a freelancer and i pick and choose what i want to do.

Behavioral Finance by Burton & Shah is IMO the best general introduction to the topic.

QQQ to the moon

You're literally judging a book by the cover, despite the provocative title the book itself is still very much pro-indexing.

So what about that fact that Bitcoins are going to be worth $100,000 plus and keep going up over time while the stock market only gives 4% and is rigged to crash and steal your money every 10 years?

Bitcoin has declined by 50% in the past 3 months

Lmao look at the big picture charts, plus Trump just repealed fiduciaries which means stocks can legally take your money now. Good luck

Whenever someone says to "look at the charts" you can be 100% sure they know next to nothing about finance, you're full of shit.

>Bitcoins are going to be worth $100,000 plus and keep going up over time
of course they are.
sure there are some people who have made a lot of money out of bitcoin but there are more people that have lost money than have made it. only you don't hear so much about them.

>while the stock market only gives 4%
if you just measure dividend yield, the ftse100 currently pays about 4.4% but there are individual shares that pay more. for example legal and general pays 6.2% and has reasonable dividend cover (which makes the payout safer).

>and is rigged to crash and steal your money every 10 years?
whatever you say user.

>Double majored in Finance (biggest mistake of my life)
>Interned in m&a at 2 investment banks, corporate finance at a boutique

You absolutely can make $$$ in markets, anyone who says otherwise doesn't know what they're talking about. The problem is you need to have specialist knowledge in a niche area, with the finance skills to back it up and that's not something most people have.

I've seen engineers who can read a geo report and put together a half-decent model pull 65% return a year on Vanadium explorers. If you have deep knowledge of the industry AND the business you can absolutely make money.

Fooled by Randomness is a must read, even though the book tends to ramble a lot.

Federal reserve wants your stocks to go down so they can give you inflation, Bitcoin is the only true store of value plus it has the benefit of going up long term

give it to 'em, comrade!! XD

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