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660ky612
Joined: 14 Jun 2007 Posts: 245 Location: Hong Kong SAR
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Posted: Sat Jul 07, 2007 12:31 pm Post subject: What *INVESTMENT* books are you currently reading? |
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The Global-Investor Book of Investing Rules: Invaluable Advice from 150 Master Investors
by Philip Jenks and Stephen Eckett (Hardcover - Feb 13, 2002)
http://www.amazon.com/Global-I....amp;sr=1-1
Characteristics:
o Not just limited to the "Passive Index Investing's" school of thought, hence might be guilty.
o ebook version available
| Code: | Robert Z. Aliber Ray Dalio Brian Kettell Alfred Rappaport
David Andrea Alexander Davidson Max King Michael Mauboussin
Nick Antill Nigel Davies George Kleinman Jay Ritter
Martin Barnes Steven I. Davis Richard Koch John Rothchild
Richard J. Bauer Jr. Philippe Delhaise Joe Krutsinger Anthony Saliba
Gary Belsky Thomas DeMark Mike Kwatinetz Thomas Schneeweis
Bruce Berman David DeRosa Dean LeBaron Steven Schoenfeld
William Bernstein Joe DiNapoli Steve Leuthold Lueder Schumacher
James B. Bittman Bob Dischel David Linton Charles Schwab
John C. Bogle Richard H. Driehaus Burton Malkiel Gary Shilling
Lewis J. Borsellino Dru Edmonstone Joe Mansueto Jeremy Siegel
David Braun Marc Faber Conor McCarthy Howard L. Simons
Ian Burns Frank J. Fabozzi Duff McDonald Brian Skiba
John P. Calamos Alan Farley Colin McLean Jim Slater
Thom Calandra Niall Ferguson Lawrence McMillan Andrew Smithers
Donald Cassidy Kenneth L. Fisher Rajnish Mehra Joel Stern
Simon Cawkwell George Fontanills Viren Mehta Thomas Stridsman
Edward Chancellor Martin Fridson Paul Melton Alan Sugden
Moorad Choudhry David R. Fried Michael Molinski Catherine Tan
Robert Cole Foster Friess Robert A.G. Monks Paul Temperton
Antoine Colonna Tony Golding David Morgan Richard H. Thaler
Tim Congdon Julio Gomez John M. Mulvey Russell Fuller
Laurence Copeland Philip Gotthelf John Murphy Van K. Tharp
Richard Cragg Jeremy Grantham Alan M. Newman David W. Tice
Anthony Crescenzi Robert V. Green David Newton Andrew Tobias
Anthony Cross Herb Greenberg Victor Niederhoffer Brian Tora
Lawrence Cunningham Bill Gross Laurel Kenner Romesh Vaitilingam
Frank Curzio Steve Harmon Michael Niemira Timothy P. Vick
John Hathaway James W. Oberweis Pieter Vorster
Alan Hicks Terrance Odean Ralph Wanger
Yale Hirsch Michael O'Higgins Edmond Warner
John C. Hull Richard Olsen Ben Warwick
John Husselbee Paul Ormerod Henry Weingarten
Roger Ibbotson Lois Peltz Neal Weintraub
Mark Ingebretsen Robert Peston Martin J. Whitman
Edmond Jackson Thomas A. Petrie Larry Williams
Simon M. Johnson John Piper Paul Wilmott
Philippe Jorion Mitchell Posner Tom Winnifrith
Ajay Kapur Henriette M. Prast Ed Yardeni
John Kay Robert Prechter Andy Yates
Karl Keegan George Putnam III Leonard Yates
William T. Ziemba
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Regards,
660ky612 from Hong Kong
Disclaimer: I am not a book salesman. |
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mickeyd

Joined: 23 Feb 2007 Posts: 1609 Location: Texas
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Posted: Sat Jul 07, 2007 12:53 pm Post subject: |
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No investment books now. I'm currently reading The Gates of the Alamo, which has no investing advice so far.
I subscribe to about 6-8 industry magazines monthly that tend to pile up from time to time. Occasionally, I zero in on reducing the size of that pile to a more manageable level. That's what I'm reading now. Should take me another week or so if I stay at it.  _________________ regards,
mickeyd
In Dire Need of: Faster horses, younger women, older whiskey, more money. (Not necessarily in that order) |
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NAVigator

Joined: 27 Feb 2007 Posts: 646 Location: Iowa
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Posted: Sat Jul 07, 2007 12:56 pm Post subject: |
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I just finished "Live It Up without Outliving Your Money!" by Paul Merriman.
I am currently reading "The Bond Bible" by Marilyn Cohen and "Your Complete Retirement Planning Road Map" by Ed Slott.
Jerry _________________ "I was born with nothing, and I have most of it left." |
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Jazzman

Joined: 28 Feb 2007 Posts: 51 Location: MIAMI & NYC
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Posted: Sat Jul 07, 2007 1:11 pm Post subject: post subject |
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| I'm reading "The Little Book of COMMON SENSE INVESTING" by John Bogle. |
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mwgr5
Joined: 01 Mar 2007 Posts: 91
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Posted: Sat Jul 07, 2007 1:57 pm Post subject: |
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I'm currently rereading four pillars. _________________ Matt
www.sharpeinvesting.com |
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bob90245

Joined: 19 Feb 2007 Posts: 3616
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Posted: Sat Jul 07, 2007 4:43 pm Post subject: |
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I'm currently reading Master Your Money Type by Jordan Goodman. Having only briefly skimmed through the book, I haven't yet decided if I'm a Coaster or a Squirrel.  |
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Mel Lindauer Moderator

Joined: 19 Feb 2007 Posts: 9106 Location: Florida
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Posted: Sat Jul 07, 2007 4:54 pm Post subject: Current Investment Book |
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I'm currently reading an advance proof copy of Jason Zweig's latest book which will be out soon titled Your Money and Your Brain (Simon & Schuster). Really groundbreaking stuff showing how understanding the new science of Neuroeconomics can help with your investing!
Best regards to all,
Mel |
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cfs

Joined: 23 Feb 2007 Posts: 561
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Posted: Sat Jul 07, 2007 5:50 pm Post subject: None, but ... |
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Thanks for asking. Current Investment Book? The answer is NONE [but I do have Larry's book handy for ready reference]. _________________ cfs est nomen ejus |
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mcdave

Joined: 19 Feb 2007 Posts: 61 Location: Pennsylvania
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Posted: Sat Jul 07, 2007 7:40 pm Post subject: Against the Gods |
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by Peter Bernstein. I am re-reading this book (in close detail) for the third time. I haven't picked it up for five or six years. It is like getting a free refresher course! Free because I own it. I love the historical approach starting way back and moving through developments up to the present! Some day I will catch up to whatever the latest buzz is -- right now it seems to be about fat tails and black swans, kertosis, contango, and backwardation! Someday I may take a course in statistics just to find out if my basic understanding is adequate!
Dave _________________ mcdave |
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Bally Who
Joined: 17 Jun 2007 Posts: 54 Location: San Jose, California
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Posted: Sun Jul 08, 2007 4:06 pm Post subject: |
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I am reading "The Black Swan" by (former trader) Nassim Nicholas Taleb. Fascinating!
"A Black Swan is a highly improbable event with three principal characteristics: it is unpredictable;
it carries an enormous impact;
and, after the fact, we concoct an explanation that makes it appear appear less random, and more predictable, than it was"
If Mandlebrot is too tough for you, try Taleb. He's a much easier read.
John |
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mickeyd

Joined: 23 Feb 2007 Posts: 1609 Location: Texas
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Posted: Sun Jul 08, 2007 4:12 pm Post subject: |
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I'm on the waiting list at our library for "The Smartest Investment Book You'll Ever Read." This book was mentioned by Scott Burns in a recent column. (Sounds diehard-ish). Anyone read it yet? _________________ regards,
mickeyd
In Dire Need of: Faster horses, younger women, older whiskey, more money. (Not necessarily in that order)
Last edited by mickeyd on Sun Jul 08, 2007 4:55 pm; edited 1 time in total |
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tat2ng

Joined: 20 Feb 2007 Posts: 314 Location: Michigan
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Posted: Sun Jul 08, 2007 4:33 pm Post subject: |
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Malkiel "A Random Walk Down Wall Street"
Thad (tat2ng) |
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Taylor Larimore Moderator

Joined: 27 Feb 2007 Posts: 7851 Location: Miami Florida
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Posted: Sun Jul 08, 2007 5:09 pm Post subject: Mickeyd --The Smartest Investment Book" |
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| Quote: | | "The Smartest Investment Book You'll Ever Read." -- Anyone read it yet? |
Yes. I own the book after reading about it in Scott Burns column. I was not disappointed. I included it in our Collection of Investment Gems. You can read excerpts from Mr. Solin's book here:
http://socialize.morningstar.c....vSeq=54472
Excerpts from other great investing books can be found here:
http://socialize.morningstar.c....vSeq=47299
Best wishes.
Taylor |
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CyberBob Moderator

Joined: 20 Feb 2007 Posts: 2096 Location: /home/bob
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Posted: Sun Jul 08, 2007 5:43 pm Post subject: |
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| mickeyd wrote: | | "The Smartest Investment Book You'll Ever Read." (Sounds diehard-ish). Anyone read it yet? |
You're correct in that it's very diehard-ish.
The book is essentially an expanded version of the reasoning behind Taylor's 4-Fund Portfolio, which CBS Marketwatch has also promoted as the Cold Shower Portfolio.
Bob |
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murfields

Joined: 20 Feb 2007 Posts: 139 Location: Surprise, AZ
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Posted: Sun Jul 08, 2007 6:35 pm Post subject: Recent books |
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My last few months readings has been ETF"S. No other ETF book at this time is better than "Exchange-Traded Funds for DUMMIES" It's for Dummies a definite winner.
My next choice is Marvin's Appel's "Investing with Exchange-Traded Funds Made Easy". An excellent book cover's good financial basic steps with a ETF direction. For a beginner in retirement investings to use mutual funds or ETF it is a winner.
Ferri's soon to arrive book on ETFs may not equal either. BUT I am waiting for it my next ETF book.
Murfield _________________ "Nobody wants to have in his cash holdings a definite number of pieces of money; he wants to keep a cash holdings of a definite amount of purchasing power" |
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lucky7

Joined: 13 Mar 2007 Posts: 359
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Posted: Sun Jul 08, 2007 7:19 pm Post subject: Re:The Smartest Investment Book You'll Ever Read |
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Also recently read Solin's book. Great read with excellent emphasis on risk. Currently reading Devil Take the Hindsight. Solin by the way has website and is responsive to email questions/comments.
Bob _________________ Scotty, beam me up. |
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quidditchfan073
Joined: 14 Mar 2007 Posts: 34
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Posted: Sun Jul 08, 2007 7:31 pm Post subject: .. |
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I am half way through 'All about index funds'. by Richard Ferri.
Greg |
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mnd2013

Joined: 03 Mar 2007 Posts: 6 Location: KC
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Posted: Sun Jul 08, 2007 7:44 pm Post subject: |
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| NAVigator wrote: | | I just finished "Live It Up without Outliving Your Money!" by Paul Merriman. |
How is this?
Currently reading 4 Pillars |
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NAVigator

Joined: 27 Feb 2007 Posts: 646 Location: Iowa
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Posted: Sun Jul 08, 2007 8:10 pm Post subject: |
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| mnd2013 wrote: | | NAVigator wrote: | | I just finished "Live It Up without Outliving Your Money!" by Paul Merriman. |
How is this?
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I found it to be quite interesting. Merriman does an excellent job explaining the effect of diversification on risk and return. He includes historical returns and efficient frontier diagrams. He develops what he terms the "perfect portfolio" by starting with the S&P 500 and adding other asset classes.
He focuses on the equity portion of the portfolio and virtually ignores the fixed income side.
He ends up with a very nice recommended asset allocation, in my view. It was well written and easily understood.
Jerry _________________ "I was born with nothing, and I have most of it left." |
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dogtown
Joined: 04 Mar 2007 Posts: 2
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Posted: Sun Jul 08, 2007 8:19 pm Post subject: |
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| Another kudo for "The Smartest Investment Book You'll Ever Read. I agree with the things Taylor and Cyberbob said about it. It is a very easy read. |
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savermike
Joined: 22 Mar 2007 Posts: 216 Location: Chicagoland
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Posted: Sun Jul 08, 2007 9:02 pm Post subject: The Black Swan |
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Just got Taleb's new The Black Swan ($15.xx at Costco). His Fooled by Randomness was one my early reads that drove me to understand markets and investing beyond "I want 'growth', don't I?".
However, the final Harry Potter is 13 days away and still haven't read the penultimate installment. Taleb may have to wait.
Mike |
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Karl

Joined: 13 May 2007 Posts: 908 Location: Milwaukee, WI
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Posted: Mon Jul 09, 2007 6:31 pm Post subject: |
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| None. I feel that I already get plenty of information from simply looking at this board. |
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unclemick
Joined: 20 Feb 2007 Posts: 1174 Location: greater Kansas City
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Posted: Tue Jul 10, 2007 9:18 am Post subject: |
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Ditto
Books! I don't need no stinking books!
heh heh heh heh heh.
A few forums, Bogle's Financial Markets Research Center, Efficient Frontier(not as much lately).
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Blackhawkzone

Joined: 06 Mar 2007 Posts: 295 Location: Chicago
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Posted: Tue Jul 10, 2007 9:35 am Post subject: |
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i have learned more from etf's for dummies than any other investment book that I have ever read, and I have read quite a few.
any etf investor should read this if they already havent. |
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CyberBob Moderator

Joined: 20 Feb 2007 Posts: 2096 Location: /home/bob
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Posted: Tue Jul 10, 2007 11:58 am Post subject: |
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| dogtown wrote: | | Another kudo for "The Smartest Investment Book You'll Ever Read. I agree with the things Taylor and Cyberbob said about it. It is a very easy read. |
For anyone North of the border, there is now a Canadian edition of the book.
Bob |
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KritonD
Joined: 04 Mar 2007 Posts: 114 Location: NYC
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Posted: Tue Jul 10, 2007 3:02 pm Post subject: |
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| I'm rereading Four Pillars right now. Also reading The Black Swan during my commute. I haven't been sucked into the Black Swan as I was with Fooled by Randomness, gotta give it more time I think. |
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modal

Joined: 20 Feb 2007 Posts: 1032 Location: USA
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Posted: Tue Jul 10, 2007 4:06 pm Post subject: |
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Currently being read by me.... sorta related to investing...
One Perfect Day: The Selling of the American Wedding by Rebecca Mead --> The author is a bit odd.
Someone brought up the whole engagement ring thing on here so I looked for a book.
How to Start Living and Stop Worrying by Dale Carnegie
Dummies books which cracked me up on a recent trip to Barnes and Noble
-IBS for Dummies (Yes, 300+ on irritable bowel syndrome)
-MPD for Dummies (Crazy) |
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tommy_gunn

Joined: 06 Jun 2007 Posts: 582 Location: America's Finest City
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Posted: Fri Jul 13, 2007 5:15 pm Post subject: |
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I just picked up The Bogleheads' Guide to Investing from Buy.com for $9.93 after a $10 google check out coupon ... woo hoo _________________ "I love competition. And I want to win." R. Murdoch |
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CyberBob Moderator

Joined: 20 Feb 2007 Posts: 2096 Location: /home/bob
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Posted: Fri Aug 03, 2007 12:24 pm Post subject: Vanguard's Recommended Summer Reading List |
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Vanguard has a new recommended reading list.
Bob |
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bob90245

Joined: 19 Feb 2007 Posts: 3616
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Posted: Fri Aug 03, 2007 5:10 pm Post subject: Re: Vanguard's Recommended Summer Reading List |
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That's a good list. I read 7 out of those 13 books.
I'm currently reading Asset Allocation by Roger Gibson. I found it in my local library. At $55, it is way too expensive for the retail investor. If it was more reasonably priced, say around $25, there's no question that it would be far more popular with individual investors. It's really a very good book.
I see that Amazon sells it for $35. I'm very tempted to buy it and add it to my personal library of investment books. I wouldn't mind buying it used for around $20. I've bought used books before when I didn't want to pay up for the going rate. |
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CyberBob Moderator

Joined: 20 Feb 2007 Posts: 2096 Location: /home/bob
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Posted: Fri Aug 03, 2007 8:40 pm Post subject: Re: Vanguard's Recommended Summer Reading List |
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| bob90245 wrote: | | I'm currently reading Asset Allocation by Roger Gibson. It's really a very good book. |
Oooh, that's a great book!
Even though it has a bit of a slant towards advisors, it's definitely a book that Diehards would like if they're looking for something more than 'Dummies' type investment fluff.
Bob |
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bob90245

Joined: 19 Feb 2007 Posts: 3616
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Posted: Fri Aug 03, 2007 8:58 pm Post subject: Re: Vanguard's Recommended Summer Reading List |
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| CyberBob wrote: | | bob90245 wrote: | | I'm currently reading Asset Allocation by Roger Gibson. It's really a very good book. |
Oooh, that's a great book! |
CyberBob,
I thought you were not impressed with slice and dice. Given your preference with TSM, I am quite surprised you would like a book that promotes multiple-asset-class equity investing.
Or have I confused you with someone else?  |
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rich
Joined: 16 Mar 2007 Posts: 902
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Posted: Fri Aug 03, 2007 9:30 pm Post subject: |
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I just ordered Fooled by Randomness by Taleb. I enjoyed The Black Swan and wanted to read his previous book. _________________ Best regards,
Rich |
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stratton

Joined: 04 Mar 2007 Posts: 6747 Location: Puget Sound
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Posted: Fri Aug 03, 2007 9:36 pm Post subject: |
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| Quote: | | I just ordered Fooled by Randomness by Taleb. I enjoyed The Black Swan and wanted to read his previous book. |
Don't forget his other book: Dynamic hedging : managing vanilla and exotic options
Paul |
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AzRunner

Joined: 19 Feb 2007 Posts: 722 Location: Phoenix
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Posted: Fri Aug 03, 2007 11:04 pm Post subject: |
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I was recently in a Barnes and Nobles in Flagstaff, AZ. They have a section called Personal Finance. It's populated by books by Suze Orman and the Rich Dad, Poor Dad guy. Across the aisle was a section called Investing. The books with 20 copies were by authors discussing strategies that Diehards wouldn't touch with a ten foot pole. Single copies of books by Bogle, Ferri and the Bogleheads were available among the other books that some might call financial pornography.
Just another reinforcement to the idea that Diehards are unfortunately a rare breed in the investment world.
Norm |
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660ky612
Joined: 14 Jun 2007 Posts: 245 Location: Hong Kong SAR
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Posted: Sat Aug 04, 2007 3:28 pm Post subject: Re: Vanguard's Recommended Summer Reading List |
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| CyberBob wrote: | | bob90245 wrote: | | I'm currently reading Asset Allocation by Roger Gibson. It's really a very good book. |
Oooh, that's a great book! |
Why not accompanying the reading with "All About Asset Allocation by Richard A. Ferri (Paperback - Sep 15, 2005)"?
Also see "Mastering the Art of Asset Allocation, David M. DARST, 2007 McGraw-Hill".
660ky612 from Hong Kong Special Administration Region.
P.S.
I wish to have my own Yacht with
| Code: |
A. pretty women inside B. strong and muscular men inside
C. friends inside D. gold inside
E. wine inside. F. fishes inside |
Your choice?
Last edited by 660ky612 on Sun Aug 19, 2007 12:39 pm; edited 1 time in total |
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660ky612
Joined: 14 Jun 2007 Posts: 245 Location: Hong Kong SAR
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Posted: Sun Aug 19, 2007 11:32 am Post subject: |
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| stratton wrote: | | Quote: | | I just ordered Fooled by Randomness by Taleb. I enjoyed The Black Swan and wanted to read his previous book. |
Don't forget his other book: Dynamic hedging : managing vanilla and exotic options
Paul |
I have got an electronic version of the book Dynamic hedging : managing vanilla and exotic options, 1997 of which I collected when studying the course Options Pricing.
It should be somewhat technical, so why do we need it?
Thanks, 660ky612 from Hong Kong |
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craigr
Joined: 13 Mar 2007 Posts: 2006
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Posted: Sun Aug 19, 2007 12:08 pm Post subject: |
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| AzRunner wrote: | | I was recently in a Barnes and Nobles in Flagstaff, AZ. They have a section called Personal Finance. It's populated by books by Suze Orman and the Rich Dad, Poor Dad guy. Across the aisle was a section called Investing. The books with 20 copies were by authors discussing strategies that Diehards wouldn't touch with a ten foot pole. Single copies of books by Bogle, Ferri and the Bogleheads were available among the other books that some might call financial pornography. |
Many months ago I was in that section as well at the local book store. An older man was there and had a stack of Rich Dad books, Cramer books, option trading, real estate with zero down books, etc.
I felt the dark force surging and I was forced to act. I struck up a conversation with him and he was interested in investing his money for retirement, etc. I spoke with him for probably 30 minutes abut Kiyosaki, options, zero down real estate risks, indexing, etc. and he walked away instead with The Diehards Guide in his hand.
I hope he took the advice.
I told my wife that I want a job at the book store. I just want to sit in a chair in the investing/personal finance aisle and keep people out of trouble. _________________ “The past is full of meaningless coincidences that are waiting to be discovered by investors and advisors.” - Harry Browne |
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Chip
Joined: 21 Feb 2007 Posts: 887
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Posted: Sun Aug 19, 2007 1:11 pm Post subject: |
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I'm reading 4 Pillars and Random Walk. I bought both (as well as Bogleheads & All About Asset Allocation) to use as my "lending library" for friends who want to know how to invest. I hope I'll get them back once they've been lent out.  |
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Jazzman

Joined: 28 Feb 2007 Posts: 51 Location: MIAMI & NYC
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Posted: Sun Aug 19, 2007 4:29 pm Post subject: post subject |
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| Today I started reading "The only guide to a WINNING BOND STRATEGY you'll ever need" by Larry Swedroe. |
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660ky612
Joined: 14 Jun 2007 Posts: 245 Location: Hong Kong SAR
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Dino

Joined: 25 Feb 2007 Posts: 155
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Posted: Tue Aug 28, 2007 8:01 pm Post subject: |
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Bogleheads Forum - each evening.
Dino |
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shadowrings

Joined: 20 Feb 2007 Posts: 412 Location: squatting around Prescott,AZ :-)
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Posted: Wed Aug 29, 2007 2:03 am Post subject: |
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I have Malkiel's "Random Walk Down Wall Street" waiting as my next non-fiction read.
Just cracked the cover on Dan Reingold's "Confessions of a Wall Street Analyst" _________________ Knowing your own darkness is the best method for dealing with the darknesses of other people.
--- Carl G. Jung |
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Jason
Joined: 01 Mar 2007 Posts: 58
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Posted: Wed Aug 29, 2007 2:17 am Post subject: |
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I just finished Bogle's "Bogle on Mutual Funds...New perspectives for the intelligent investor"
Great stuff. I found it interesting that he advocates some forms of "tactical asset allocation" and does not condemn actively managed funds. Of course, he also makes a great case for indexing.
He also recommends matching bond duration to your investment horizon (i.e. long-term bonds for long-term horizon), which is different than the mantra we hear these days ("keep durations short").
cheers,
Jason |
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psu9932
Joined: 02 Apr 2007 Posts: 45
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Posted: Wed Aug 29, 2007 5:23 am Post subject: book |
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| "Beyond the Grave: The Right Way.." Easy to read and informative. |
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stratton

Joined: 04 Mar 2007 Posts: 6747 Location: Puget Sound
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Posted: Wed Aug 29, 2007 5:24 am Post subject: |
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| Quote: | He also recommends matching bond duration to your investment horizon (i.e. long-term bonds for long-term horizon), which is different than the mantra we hear these days ("keep durations short").
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There was probably no TIPS available then. TIPS can replace the long-term bonds with a lot less volatility and inflation surprises won't kill you. The short term bonds protect against sudden interest rises, the TIPS against sudden inflation, the TIPS coupon rate acts as a floor against deflation. If interets rates go really low like after 9/11 a 2.3x% real rate looks great.
Paul |
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660ky612
Joined: 14 Jun 2007 Posts: 245 Location: Hong Kong SAR
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Posted: Fri Sep 07, 2007 10:17 am Post subject: |
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Dear Forum,
Today is 7th September 2007.
Finish reading
. The random walk guide to investing : ten rules for financial success / Burton G. Malkiel, 2003. (202 pages)
. The little book of common sense investing : the only way to guarantee your fair share of market returns / John C. Bogle, 2007 (240 pages)
. Winning the loser's game : timeless strategies for successful investing / Charles D. Ellis, 2002 (144 pages)
I am an alumnus of three different Universities at Hong Kong:
. ChineseU_HK ( http://library.cuhk.edu.hk/ ),
. CityU_HK ( http://lib.cityu.edu.hk/ ),
. PolyU_HK ( http://library.polyu.edu.hk/ ),
So the cost of my supply line has always been very low.
In the seventeen years of my pseudo-investing and personal saving voyage, I have observed that no one here in Hong Kong, except just one person (a retired stock analyst from the fundamental school), has ever got the intention to provide a solution of the investment problem tailored to help the general public. And this is why I meet you. Some gurus, merchants, media (educators and government officials as well) here have been extremely dangerous and lousy. This makes studying, self-discovery and fighting a life-long journey.
What do you feel if you cannot protect your mom?
660ky612 from Hong Kong
- bought mutual funds since 1989, stock-to-stock every five days since 1999 
Last edited by 660ky612 on Wed Sep 26, 2007 7:29 am; edited 8 times in total |
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Taylor Larimore Moderator

Joined: 27 Feb 2007 Posts: 7851 Location: Miami Florida
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Posted: Fri Sep 07, 2007 11:23 am Post subject: Bogle on "Tactical Allocation" |
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| Quote: | | I just finished Bogle's "Bogle on Mutual Funds...New perspectives for the intelligent investor" Great stuff. I found it interesting that he advocates some forms of "tactical asset allocation" |
Here's what he wrote in the Asset Allocation Summary:
"As an intelligent investor, you must make five key decisions about your asset allocation program. -- Fourth is the decision as to whether to introduce an element of tactical allocation. It carries its own risks. Changes in the stock/bond ratio may add value, but they may not. In an uncertain world, tactical changes should be made sparingly."
In his book, "Common Sense on Mutual Funds," Mr. Bogle wrote:
"Tactical asset allocation, if the strategy is used at all, should therefore be used only at the margin. That is, if your optimal strategic allocation is 65% stocks, limit any change to no more than 15 percentage points (50 to 80 percent stocks), and implement the change gradually.
The prospect of having the skill, insight, and luck to eliminate your stock position overnight and restore it "when the time is right" is, in my view, patently absurd. Cautious tactical allocation may have a lure for the bold. Full-blown tactical allocation lures only the fool."
Best wishes.
Taylor |
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660ky612
Joined: 14 Jun 2007 Posts: 245 Location: Hong Kong SAR
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Posted: Sun Oct 14, 2007 11:15 am Post subject: |
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| CyberBob wrote: | | dogtown wrote: | | Another kudo for "The Smartest Investment Book You'll Ever Read. I agree with the things Taylor and Cyberbob said about it. It is a very easy read. |
For anyone North of the border, there is now a Canadian edition of the book.
Bob |
Thank you CyberBob and dogtown.
Today is 14th Oct., 2007. Just got these two books from the library.
o "The smartest investment book you'll ever read : the simple, stress-free way to reach your investment goals / Daniel R. Solin, Perigee Book, 2006." (179 pages)
Dan Solin is a leading securities arbitration lawyer and Senior Vice President of ifa.com
o "The only guide to a winning investment strategy you'll ever need / Larry E. Swedroe, New York : Truman Talley Books/St. Martin's Press, c2005, 1st rev. and updated ed.", (323 pages but large fonts used in the book)
Larry E. Swedroe graduated from New York University with an MBA in finance. He is a principal in the firm of Buckingham Asset Management.
Yours affectionately,
660ky612 from Hong Kong |
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SamB

Joined: 12 Mar 2007 Posts: 265
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Posted: Sun Oct 14, 2007 11:51 am Post subject: Books |
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I just finished Amity Shlaes' "The Forgotten Man," a rather entertaining book about the Great Depression. I never realized how little impact most of Roosevelt's programs actually had on the macro economy, and the backgrounds of most of his advisers.
Note that the forgotten man was originally the one who paid the taxes transferred by the politician to the little guy. Roosevelt redefined the expression to mean the little guy, and it made a huge political difference.
Sam |
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