Do you prefer to buy investment books or borrow them?

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immike1234
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Do you prefer to buy investment books or borrow them?

Post by immike1234 » Tue Dec 20, 2011 1:09 am

As a newbie to investing, I wanted to get some general information by reading the books The Bogleheads' Guide to Investing and The Bogleheads' Guide to Retirement

At first, I thought about borrowing them from the library, but now I'm in another state for vacation, so perhaps it would be a better idea to buy them. Do you guys normally buy the investment books that you read, or do you read them from the library first and buy the ones that you feel are really useful?

Johm221122
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Re: Do you prefer to buy investment books or borrow them?

Post by Johm221122 » Tue Dec 20, 2011 1:28 am

When I first started investing,I read alot of the books on investing out of the library.But looking back it would have been simpler to read just a few books recommended on this web site and just search for answers on anything you don't understand.

Mudpuppy
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Re: Do you prefer to buy investment books or borrow them?

Post by Mudpuppy » Tue Dec 20, 2011 1:57 am

I personally have gone for the borrow method. However, I borrow most of books these days since realizing how much I was spending on book clubs in college. The only purchased books I get are usually gifts from family members, or free e-books.

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Noobvestor
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Re: Do you prefer to buy investment books or borrow them?

Post by Noobvestor » Tue Dec 20, 2011 2:07 am

I'm thinking about buying a few spares as ebooks and loaning 'em out to peeps on this forum. If you want to read one of those, it might motivate me to start doing it instead of just talking about it ;)
"In the absence of clarity, diversification is the only logical strategy" -= Larry Swedroe

imagardener
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Re: Do you prefer to buy investment books or borrow them?

Post by imagardener » Tue Dec 20, 2011 8:34 am

It takes a really great book (of any kind) for me to purchase it if it is available at the library, most are available through a regional request.
(Looking around the room there are piles of books everywhere so there are a lot of great books).

But sometimes, while setting out on on a long trip, I will purchase a copy, used on Amazon, to take with me and if lost then no great pain.
I had to buy "The Black Swan" by Taleb because it took me a long time to read (still at it), because I wanted to pass it to my husband and because I think I will read it again later when my understanding has grown and more things now fuzzy to me will become clearer (I can hope).

What I dislike is that 90% of books bought tend not to get re-read by me, but at the time they were must-have-it.

peter71
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Re: Do you prefer to buy investment books or borrow them?

Post by peter71 » Tue Dec 20, 2011 10:17 am

Between blogs and freely available academic articles, I think you can actually get a better (if drier) investment education on the internet than you can from books.

The good thing and the bad thing about books (other than self-published books) is that a publisher needs to be convinced that they're not too deathly boring to sell.

So although overstatement and abuses of data are pervasive in investment writing, I think that "you don't get what you pay for" is as good a rule in investment writing as it is in investing itself.

Best,
Pete

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Toons
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Re: Do you prefer to buy investment books or borrow them?

Post by Toons » Tue Dec 20, 2011 10:28 am

I look for books on google(free info),but frankly the info that is posted on the Boglehead site is sufficient enough for me :D
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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ejvyas
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Re: Do you prefer to buy investment books or borrow them?

Post by ejvyas » Tue Dec 20, 2011 10:29 am

library...I pay them through my taxes :)

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laughlinlvr
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Re: Do you prefer to buy investment books or borrow them?

Post by laughlinlvr » Tue Dec 20, 2011 10:35 am

Borrow them. Hurrah for the Wake county library system!
Investing - The hardest way to make an easy living.

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bob90245
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Re: Do you prefer to buy investment books or borrow them?

Post by bob90245 » Tue Dec 20, 2011 10:44 am

immike1234 wrote:Re: Do you prefer to buy investment books or borrow them?
I own around 40 to 50 investment books. And I've borrowed about the same number or more from the library (different books).

Right now, I've read most of the books geared toward buy-hold-rebalance investing that have already been published. (There are so many more books geared toward active investing, market timing, technical analysis, etc., that I leave for others.) So when a new book comes out from a respected author, I usually buy it. Case in point, I recently ordered these two books:

Investment Mistakes Even Smart Investors Make and How to Avoid Them by Larry Swedroe

Risk Less and Prosper: Your Guide to Safer Investing by Zvi Bodie
Ignore the market noise. Keep to your rebalancing schedule whether that is semi-annual, annual or trigger bands.

rec7
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Re: Do you prefer to buy investment books or borrow them?

Post by rec7 » Tue Dec 20, 2011 10:54 am

[quote="ejvyas"]library...I pay them through my taxes :)[/quote]

My library taxes are $77 a year that is one deal I come out ahead on I read so many books.
Disclaimer: You might lose money doing anything I say. Although that was not my intent. | Favorite song: Sometimes He Whispers Jay Parrack

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Re: Do you prefer to buy investment books or borrow them?

Post by Fallible » Tue Dec 20, 2011 11:59 am

Most books I get from the library, but there are a few that I'll buy new, used or paperback from Amazon or find a bit later in used book stores. The few that I buy are those I know I'll re-read and refer to often, like the Bogleheads' books, and some books on the financial crisis. (If you buy books from Amazon via this site, Bogleheads will get a small referral fee and at no cost to you.)
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

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runthetrails
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Re: Do you prefer to buy investment books or borrow them?

Post by runthetrails » Tue Dec 20, 2011 2:54 pm

I usually want to borrow for the first read. There are a few books (BH Guide to Investing, Four Pillars, Your Money or Your Life) that I bought just so that I can loan them to people who express interest in the topic.

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CABob
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Re: Do you prefer to buy investment books or borrow them?

Post by CABob » Tue Dec 20, 2011 3:08 pm

I do some of both. For most books I would prefer to borrow, but, if it is one that I might want to refer to in the future I lean toward buying it. One of the problems is that my local library doesn't have many of the books I would like to borrow and if I want it bad enough I would buy it. I haven't figured out if I could get some of the books through an inter-library loan.
Bob

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Re: Do you prefer to buy investment books or borrow them?

Post by Sam I Am » Tue Dec 20, 2011 5:30 pm

I buy them, read them, and often I pass them along to new Bogleheads. Seems the right thing to do. Books are meant to be read, not just take up shelf space.

After my American Express card cools down from Christmas activities, I intend to buy Larry's new book, Investment Mistakes Even Smart Investors Make and How to Avoid Them just to see how many investment mistakes I've made over the years. I already assume I'm a smart investor. :lol:

Keep your eyes open, you might be able to snag my copy once I've read it!

Sam I am

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Re: Do you prefer to buy investment books or borrow them?

Post by joe8d » Tue Dec 20, 2011 8:54 pm

KABob wrote:I do some of both. For most books I would prefer to borrow, but, if it is one that I might want to refer to in the future I lean toward buying it. One of the problems is that my local library doesn't have many of the books I would like to borrow and if I want it bad enough I would buy it. I haven't figured out if I could get some of the books through an inter-library loan.
Bob, If your library participates in the ILL program, you should be able to get most books.
All the Best, | Joe

imagardener
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Re: Do you prefer to buy investment books or borrow them?

Post by imagardener » Wed Dec 21, 2011 1:24 pm

Just a follow-up to use of the library: I almost never buy a book without having read it first, generally through the library system. So the library is a filter for purchases which means I am never disappointed in a book. Never a waste of money although sometimes patience is called for with popular books with a wait list. Impulse purchases non-existent, good training for stock purchases.

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