Hi guys,

Has anybody experienced in finance read that book ? Millionaire Teacher - The Nine Rules of Wealth You Should Have Learned in School ?

It looks like a very interesting model, however I didn't know much about investing prior to reading this book. I did always have the assumption that the bank workers were not real friends when it comes to investing your money though. Any tips on that would be really appreciated.

Also general investment tips/models/ideas are welcome !

Thank you guys !

there are tons of sections on investing books/sources, but for my money, A Random Walk Down Wall Street (updated edition) is about the best introductory investment book out there.

I read the 9 rules pdf online and it seems interesting, albeit a bit vague here and there. the source of where you should look next for info really depends on if you are looking for investment advice or if you are looking for softer, life habits you can adopt to be wealthier overall. choose which first then start seeking out your sources.

BOL

Thanks for the reply !! I really appreciate your input. I'm looking for investissements books. I'll checked the one you told me about !

Anybody has experience with investing through a bank ? Mutual funds = bad ?

I've read Millionaire Teacher - The Nine Rules of Wealth You Should Have Learned in School, as well as many other investment books. I'm not an investment guru, by any means, but I have come to the belief that the passive investment philosophy expressed in Millionaire Teacher is best for probably 80 to 90% of the population. Other books along the same lines:
The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On with Your Life by Bill Schultheis
How a Second Grader Beats Wall Street: Golden Rules Any Investor Can Learn
by Allan S. Roth

A low cost, diversified portfolio of index mutual funds or etfs will generally beat 83.4% of actively managed funds over a 15 year time period.
Source:
https://assetbuilder.com/knowledge-c...onkey-solution
"A portfolio of three index funds beat 83.4 percent of the active-manager fund portfolios over the 15 years from 1998-2012. Equally important, when the active-manager fund portfolio lost, its median underperformance was more than twice as large as the gain in the minority of times a actively managed portfolio beat the index In other words, the upside was smaller, and the downside was bigger, if you tried active investing."

I love this book also.

I've said before that I go:

1) Book to learn the basics of personal finance (paying highest interest rate debts first, understanding that saving often/early will make you rich over time, etc.), don't have a specific recommendation.

2) Random Walk Down Wall Street

3) Lifecycle Investing - a newer book that advocates a more aggressive approach involving margin lending. I don't follow its advice yet (and probably never will to the fullest extent), but it's definitely good for thinking about certain things differently.

In HS i had an ecomonics teacher who gave zero ****s about what he was supposed to be teaching. We did some stuff from the text book we "had" to use but he taught us about real world finance stuff- budgeting, credit cards, compound interest the stock market etc.

The funny thing is a lot of the kids were pissed bc he wasn't following "the book" so they were worried about not doing well on the regents.

In large part thanks to him i never paid a cent in credit card interest and was very smart with my money during the poker boom when online poker was basically a printing press. I easily could have been a 21-25 year old pissing away tons of money on nonsense since it was coming in so quickly.

It's disgusting this stuff isn't taught more often in school.

My favorite beginner book on value investing is "F Wall Street" by Joe Ponzio. I've read it 3 times. It sounds like a generic book, but it's actually very in depth while not being overly technical. I recommend it to everyone.

I would really like to know what sort of ROI a good trader on this forum manages to average out after costs per year.

You hear about successful traders but you also hear about how difficult it is, how fees tend to crush most in the end etc. That is why most of us just stick with indexing. Would love to know if anyone here has crushed or beat the market over a long period of time.

You should post your question in the 2017 trading thread. I doubt if many of the traders are reading this thread, or the beginner thread at this point.

doesnt sound like he wants to or should be trading at all though.

sounds like hes asking for a normal guy who has a normal job and wants to invest his savings, where can he get good advice and who should he follow?

imo if you can find a good manager with a long term track record of beating the index go with that (ie theres no way your local bank MF does this). If not go with ETFs

I took his question to be more of a poll of what sort of returns the guys who actively trade stocks are pulling down. Like he was trying to decide if it would be better to try to trade, or just stick with index funds.

Thanks for the replies guys ! I just received my copy of A Rawndom Walk Down Wall Street ! Will start reading it tonight.

Also, I was wondering about this... I was looking at S&P 500 index... the fact that it is currently on a all time high after a long upswing probably makes it not a good investment timing, or am I mistaken ? Should I just wait for some crash and then invest ? Would be curious to hear opinions on that !

Check this out

http://www.businessinsider.com/tony-...k-bogle-2017-3

IIRC, that topic is covered in A Random Walk Down Wall Street. Basically, you don't know when the market will crash. It may lose 50% tomorrow or quadruple up before having any kind of correction. If you believe the book that the market is roughly efficient, today's prices will always be fair and investing today is better than investing tomorrow. If you have a lot of money to invest, you can dollar cost average over a certain period to lower volatility but also lower expected returns.