What should a new investor being reading?

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eddyphamelin
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What should a new investor being reading?

Post by eddyphamelin » Sat Dec 08, 2018 6:13 pm

Greetings All,

I am a newbie to this forum. I following the 3-Fund Portfolio strategy. I would like to get recommendations/suggestions of what journals, magazines, newspapers, online resources, (besides this awesome forum) etc. I should be reading to stay informed.

Thank you! Eddy

radiowave
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Re: What should a new investor being reading?

Post by radiowave » Sat Dec 08, 2018 6:34 pm

Eddy, welcome to the forum!

Have you read the Bogleheads wiki (see link below). That is probably the best single place to start.

Here is a short list of books by Jack Bogle: https://www.amazon.com/s/ref=nb_sb_ss_ ... XK3XL9HFI

And the classic book by Taylor Larimore: https://www.amazon.com/Bogleheads-Guide ... 9QR60KZ6
Bogleheads Wiki: https://www.bogleheads.org/wiki/Main_Page

eddyphamelin
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Re: What should a new investor being reading?

Post by eddyphamelin » Sat Dec 08, 2018 7:38 pm

Thank you! I have the books either already in my library or on order. I will exploring the wiki in more depth over the weekend. Thanks again!

Random Walker
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Re: What should a new investor being reading?

Post by Random Walker » Sat Dec 08, 2018 9:18 pm

Books!
My two favorite beginner books are William Bernstein’s 4 Pillars Of Investingand Larry Swedroe’s Wise Investing Made Simple

Dave

pdavi21
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Re: What should a new investor being reading?

Post by pdavi21 » Sat Dec 08, 2018 9:24 pm

You may want to read textbooks in Economics, Finance, Accounting, Business, Statistics, etc.

They might bore you to death, but you will actually learn instead of being told how to invest.

UpperNwGuy
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Re: What should a new investor being reading?

Post by UpperNwGuy » Sat Dec 08, 2018 10:47 pm

I would recommend a new investor read the posts by nisiprius, grabiner, livesoft, Kevin M, vineviz, and other knowledgeable folk who post on Bogleheads. Their posts are both informative and instructional. The more you read Bogleheads, the better you will be able to identify the folk whose posts are the most helpful to new investors.

The problem with books is that they quickly go out of date. Nevertheless, there are many excellent books on investing. Just be aware that the older books can contain outdated information.

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arcticpineapplecorp.
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Re: What should a new investor being reading?

Post by arcticpineapplecorp. » Sat Dec 08, 2018 10:58 pm

while books can go out of date, Charles Ellis and Burton Malkiel's "The Elements of Investing" and Jack Bogle's "The Little Book of Commonsense Investing" are timeless and I don't see how they can ever go "out of date". Basic principles of investing are timeless and not subject to any need to "stay informed" of daily goings on.

I find these pretty good too:
https://investingroadmap.wordpress.com/

https://paulmerriman.com/how-to-invest- ... -download/
(three free e-books)

https://www.bogleheads.org/wiki/Boglehe ... philosophy
https://www.bogleheads.org/wiki/Video:B ... philosophy
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

Random Walker
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Re: What should a new investor being reading?

Post by Random Walker » Sun Dec 09, 2018 1:48 pm

UpperNwGuy wrote:
Sat Dec 08, 2018 10:47 pm

The problem with books is that they quickly go out of date. Nevertheless, there are many excellent books on investing. Just be aware that the older books can contain outdated information.
I largely disagree. Bogle’s Cost Matters Hypothesis, Gibson’s Rewards of Multi Asset Class Investing, Ellis’ Winning The Loser’s Game teach timeless principles. Specific investment vehicles change over time and investment history certainly continues to write itself, but the basic principles don’t change.

Dave

averagedude
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Re: What should a new investor being reading?

Post by averagedude » Sun Dec 09, 2018 2:16 pm

eddyphamelin wrote:
Sat Dec 08, 2018 6:13 pm
Greetings All,

I am a newbie to this forum. I following the 3-Fund Portfolio strategy. I would like to get recommendations/suggestions of what journals, magazines, newspapers, online resources, (besides this awesome forum) etc. I should be reading to stay informed.

Thank you! Eddy
Since you are following the three fund strategy, i would suggest that you read nothing else about investing. Learning more will likely make you dumber and broker. If i was you, i would read resources that would help you make more money, save on taxes, increase your savings rate, or make your life happier.

FBN2014
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Re: What should a new investor being reading?

Post by FBN2014 » Sun Dec 09, 2018 6:37 pm

I highly recommend Dan Solin's books. Brief, to the point, and non technical.
"October is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May March, June, December, August and February." - M. Twain

travelogue
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Re: What should a new investor being reading?

Post by travelogue » Sun Dec 09, 2018 6:44 pm

A couple I found helpful, so far:

The Little Book of Common Sense Investing (2e, 2017), by John C. Bogle
A Random Walk Down Wall Street, by Burton Malkiel

travelogue
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Re: What should a new investor being reading?

Post by travelogue » Sun Dec 09, 2018 7:22 pm

averagedude wrote:
Sun Dec 09, 2018 2:16 pm
Since you are following the three fund strategy, i would suggest that you read nothing else about investing. Learning more will likely make you dumber and broker. If i was you, i would read resources that would help you make more money, save on taxes, increase your savings rate, or make your life happier.
Yes, however I find refreshing my recollection on why I'm using a Boglehead approach is helpful when markets are in the news or I get the urge to fiddle with my portfolio.

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arcticpineapplecorp.
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Re: What should a new investor being reading?

Post by arcticpineapplecorp. » Sun Dec 09, 2018 7:38 pm

I second Winning the loser's game by Ellis:
https://www.ifa.com/pdfs/ellis_charles_ ... e_1975.pdf

Frank Armstrong's Investment Strategies for the 21st Century:
https://investorsolutions.com/investmen ... t-century/

William Sharpe's The Arithmetic of Active Management:
https://web.stanford.edu/~wfsharpe/art/ ... active.htm

Jack Bogle's The Little Book of Commonsense Investing (older edition 2007 but still highly relevant):
http://213.55.83.214:8181/Management/01278.pdf
"Invest we must." -- Jack Bogle | “The purpose of investing is not to simply optimise returns and make yourself rich. The purpose is not to die poor.” -- William Bernstein

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Peculiar_Investor
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Re: What should a new investor being reading?

Post by Peculiar_Investor » Sun Dec 09, 2018 7:43 pm

Another excellent and concise read by forum member William Bernstein, If You Can: How Millennials Can Get Rich Slowly (PDF).

If the OP does a search of the site they will find numerous mentions of this ebook.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams

Random Walker
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Re: What should a new investor being reading?

Post by Random Walker » Sun Dec 09, 2018 7:44 pm

travelogue wrote:
Sun Dec 09, 2018 7:22 pm
averagedude wrote:
Sun Dec 09, 2018 2:16 pm
Since you are following the three fund strategy, i would suggest that you read nothing else about investing. Learning more will likely make you dumber and broker. If i was you, i would read resources that would help you make more money, save on taxes, increase your savings rate, or make your life happier.
Yes, however I find refreshing my recollection on why I'm using a Boglehead approach is helpful when markets are in the news or I get the urge to fiddle with my portfolio.
Another important read is a book on financial history. Devil Take The Hindmost: A History Of Financial Speculation is a very good book. I think knowledge of financial history helps build the strength of mind and stomach to stay disciplined.

Dave

travelogue
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Re: What should a new investor being reading?

Post by travelogue » Sun Dec 09, 2018 8:04 pm

Random Walker wrote:
Sun Dec 09, 2018 7:44 pm

Another important read is a book on financial history. Devil Take The Hindmost: A History Of Financial Speculation is a very good book. I think knowledge of financial history helps build the strength of mind and stomach to stay disciplined.
Nice! Not available on Kindle, so I placed a hold at my public library. On the subject of financial history, I *really* liked Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed. Taleb's The Black Swan is eye opening on risk (and the admonition to not blow up!), though I didn't care for his other books. It'll have you looking at the world (not just your portfolio) in a new way.

On the topic of cognitive bias and behavioral finance I liked The Undoing Project (most books by Michael Lewis are good reads), Thinking: Fast and Slow, and Thaler's Misbehaving.

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Taylor Larimore
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Re: What should a new investor being reading?

Post by Taylor Larimore » Sun Dec 09, 2018 8:25 pm

eddyphamelin wrote:
Sat Dec 08, 2018 6:13 pm
Greetings All,

I am a newbie to this forum. I following the 3-Fund Portfolio strategy. I would like to get recommendations/suggestions of what journals, magazines, newspapers, online resources, (besides this awesome forum) etc. I should be reading to stay informed.

Thank you! Eddy
Eddy:

A stay-the-course investor using the 3-Fund Total Market Portfolio will have little reason to read "journals, magazines, newspapers, etc." to stay informed. Most publications receive the majority of their income from the investment industry whose primary purpose is to extract money from our returns to be used for their profit. I suggest you save your time and money and enjoy other pursuits.

You may find this link interesting:

He has read over 250 Investing Books

Best wishes.
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle

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