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The "What the hell should I read?!" Thread. Books, Blogs, and News The "What the hell should I read?!" Thread. Books, Blogs, and News

11-15-2020 , 01:43 PM
Who would of thought that government treat one business expense as creating another person income which are taxes at the end or consumer is being taxes when they consume something.

I would recommend reading two of Warren buffett books https://www.amazon.com/Buffett-Ameri...462442&sr=8-20 and Charlie Mungers https://www.amazon.com/Poor-Charlies...s%2C141&sr=8-3 Charlie Mungers especially bring a lot of mental model ideas which is like meditation trends that everyone should take seriously if they want to compound their knowledge.

Last edited by DonJuan; 11-15-2020 at 01:49 PM.
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
01-16-2021 , 11:02 AM
Just finished Jack Schwagers newest Market Wizards book.

Unknown Market Wizards

If you have read the previous Market Wizard books this will be familiar as it follows the same basic format. Like the others it is a very interesting and intriguing and an easy read. Also does a good job of showing how markets and trading approaches have evolved since the earlier books. But also shows that mindset and money management are still the pivotal skills required to succeed at trading.

It also shows how a variety of approaches and ways to participate in trading can vary widely yet still be successful. This is a point I have tried to hammer home over the years in this forum to those who claim there is only one way to ever even consider being a profitable trader (THEIR WAY!). There are infinite trading vehicles, timeframes and methods of analysis. Finding the one that is right for you and your personal trading psychology is extremely important. What works for me may not work for you and visa versa.

In any event if you have any interest whatsoever in trading this book will help you. I expect I will revisit the earlier Wizards book in the near future as they are truly enjoyable for me to consume.
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
01-23-2021 , 02:49 PM
I'm looking for a book that would let me learn about the various market participants (e.g. hedge funds, market makers, retail, pension funds, etc.):

Their role, strategies, incentives, expectations, and rules they have to follow.

I don't want to learn about that for its own sake, but I think it helps to know about who you're playing against when thinking of strategies, so if the book/material can link to that, that's bonus.
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
01-23-2021 , 07:59 PM
Quote:
Originally Posted by Keloika
I'm looking for a book that would let me learn about the various market participants (e.g. hedge funds, market makers, retail, pension funds, etc.):

Their role, strategies, incentives, expectations, and rules they have to follow.

I don't want to learn about that for its own sake, but I think it helps to know about who you're playing against when thinking of strategies, so if the book/material can link to that, that's bonus.
I believe this subject is called market microstructure, and there's a book on it of the same name Bought it but not read so can't vouch for it's usefulness
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
02-21-2021 , 12:11 PM
Watched an interesting documentary last night on Amazon Prime called China Hustle. About how small scammy Chinese companies had been able to skirt the rules to get listed on US exchanges and the guys that both purport and expose out these frauds.

Very interesting and would recommend
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
06-13-2021 , 02:21 AM
I have been listening to a couple of audio books from my local library's app on my phone. Most of them are about investing or finance. Here is the list of books that I listened to (some I recommend NOT to listen to in the spoiler. Just in case you run across the book and think about reading it you may remember my post and save your self time):

The Intelligent Investor - Benjamin Graham
The Millionaire Next Door - Thomas J. Stanley & William D. Danko
The Dumb Things Smart People do with their Money - Jill Schlesinger
The Lazy Man's Way to Riches - Richard Gilly Nixon (waste of life, don't read)
Me - Elton John (not about investing, but read it anyway)
Meet the Frugalwoods - Elizabeth Willard Thames
Talking to Strangers - Malcolm Gladwell
Never Split the Difference - Chris Voss, Tahl Raz
The Biggest Bluff - Maria Konnikova
You are a Badass at Making Money - Jen Sincero (waste of life, don't read)
The Little Book of Common Sense Investing - John C. Bogle
1984 - George Orwell (not about investing, but read it anyway)
Invested - Danielle Town, Phil Town

Spoiler:

Reviews

The Intelligent Investor (Recommend)
There is a lot of jargon here and there that I really did not understand, but I was able to pick up a few things that were helpful. I learned some new terms such as common stock and preffered stock. Also, information about what performs well in an inflation environment. There is a commentary section after each chapter which made things make a lot more sense. It is hard to follow along with a lot of the math since the book isn't right in front of me and I'm only listening to it.

The Millionaire Next Door (Recommend)
Basically this book says that there are a lot of people out there that appear to be wealthy, but really aren't. They just buy expensive stuff and living above their means. A lot of wealthy people basically live modestly and hide their wealth. It also has some tidbits about how generational wealth tends to work in America. The first generation tends to be Entrepreneurial while later generations tend to be accountants, lawyers, doctors, and other high status jobs. In some of these families the generational wealth is lost, because sometimes the children become too dependent on their parent's money. I can kind of relate to that in a way. When I was living with my parents I made like $20-$30k a year most of the time. Within two years of moving out, my income shot up.

The Dumb Things Smart People do with their Money (meh)
This book was written by a financial advisor that talks about how people can act irrationally with their money. She also talks about gold and how paper gold is better than physical gold since it will trade higher because of its liquidity. I disagree with this notion though, because good luck getting paper gold in a financial system collapse. I think both have their uses. Basically the book says to invest for the long term and don't try and time the market.

The Lazy Man's Way to Riches (bad)
I almost didn't listen to this book because of the title. I was afraid that it was going to be one of those no-information-mind-set books and of cousre, it was. The first half of the book is basically Think and Grow Rich. The second half of the book is about ecommerce which also seemed a bit outdated.

Me (Recommend)
I enjoyed hearing about Elton Johns extravagent lifestyle. Interestingly, he actually was going broke at one point in the book even after his fame because he wasn't managing his money properly. He was actually leaving his finances up to someone else. He had such a high income that it wasn't a long term problem, but still. It goes to show that even high income earners need to manage their money in order to keep it.

Meet the Frugal Woods (meh)
This book is about a woman and her husband who decide to live dirt cheap for a few years while investing heavily before retiring at a young age. I felt a bit of a pretentious vibe from her, but it was a somewhat interesting story.

Talking to Strangers (meh)
Basically the book says to view the world from other people's perspectives and not just your own. Also, people tend to think their judgement is better than it really is.

Never Split the Difference (Recommend)
Cool book about negotiating. It talks a bit about fairness. It says that fairness is not necessarily 50/50. As long as both parties benefit from a deal it could be argued as being fair. This may be a bit of a stretch, but I think this can apply to evaluating a business. A businesse's worth is determined by the rate of return someone is willing to pay for. A good deal is relative to the other deals that are out there.

The Biggest Bluff (Recommend)
A female reporter turned poker player that worries a lot about a lot of things and was taught by Eric Siedel. Eric Siedel has a pretty strong mindset that I think is useful in investing as well.

You are A Badass at Making Money (bad)
Another Think and Grow Rich book. I sense that the author is in a multi-level marketing scheme. Also, the strange devotion to asking the magical universe of ultimate intelligence to give her things is a bit weird.

The Little Book of Common Sense Investing (Recommend)
Basically, fund managers suck at beating the market so don't give them your money. Also, you can't beat the market either since data shows that experts can't do it. Buying the index is good.

1984 (Recommend)
Granted, this book doesn't have much to do with investing. Just don't be a sheeple. Still a good book though.

Invested (Recommend)
Might be the best book I've ever listened to on investing assuming the claims are true. A daughter learns from her dad to invest her money in individual stocks to massively outperform the market. This book basically counters everything in the Little Book of Common Sense Investing saying you can outperform the index. It says that the market is not efficient and stocks are priced wrong sometimes because of emotions like fear and greed.


I ended up getting a book called Rule #1 and am currently listening to the invested podcast and learning quite a bit. Rule #1 essentially gives an easy rough guide to buying a company so that you are much less likely to get burned. Everything in this book just seems to click in a way that makes a lot of sense.

On Youtube, there is a channel called Prston Pysh and I watched two playlists of "Course 1: Stock Investing Like Warren Buffet - Beginners" and "Course 2: Stock Investing Like Warren Buffet - Intermediate". Watch at 1.5x speed to absorb what he says faster. How The Economic Machine Works by Ray Dalio is another great video to watch imo.

EDIT: I will soon read "One Up On Wallstreet" by Peter Lynch. I've heard this is a good book, but I'm yet to find out. I have found a free copy of the book on this website, because I don't like to spend money: https://archive.org/details/one-up-o...lynch/mode/2up

Last edited by TheGodson; 06-13-2021 at 02:32 AM.
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
06-13-2021 , 07:24 AM
I was going to get into traditional investing (stocks etc) but then crypto happened and I completely lost interest in making 9% interest per year
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
06-06-2023 , 09:00 AM
Richer, Wiser, Happier: How the World's Greatest Investors Win in Markets and Life

by William Green (Author)
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
06-06-2023 , 09:03 AM
Quote:
Originally Posted by TheGodson
I have been listening to a couple of audio books from my local library's app on my phone. Most of them are about investing or finance. Here is the list of books that I listened to (some I recommend NOT to listen to in the spoiler. Just in case you run across the book and think about reading it you may remember my post and save your self time):

The Intelligent Investor - Benjamin Graham
The Millionaire Next Door - Thomas J. Stanley & William D. Danko
The Dumb Things Smart People do with their Money - Jill Schlesinger
The Lazy Man's Way to Riches - Richard Gilly Nixon (waste of life, don't read)
Me - Elton John (not about investing, but read it anyway)
Meet the Frugalwoods - Elizabeth Willard Thames
Talking to Strangers - Malcolm Gladwell
Never Split the Difference - Chris Voss, Tahl Raz
The Biggest Bluff - Maria Konnikova
You are a Badass at Making Money - Jen Sincero (waste of life, don't read)
The Little Book of Common Sense Investing - John C. Bogle
1984 - George Orwell (not about investing, but read it anyway)
Invested - Danielle Town, Phil Town

Spoiler:

Reviews

The Intelligent Investor (Recommend)
There is a lot of jargon here and there that I really did not understand, but I was able to pick up a few things that were helpful. I learned some new terms such as common stock and preffered stock. Also, information about what performs well in an inflation environment. There is a commentary section after each chapter which made things make a lot more sense. It is hard to follow along with a lot of the math since the book isn't right in front of me and I'm only listening to it.

The Millionaire Next Door (Recommend)
Basically this book says that there are a lot of people out there that appear to be wealthy, but really aren't. They just buy expensive stuff and living above their means. A lot of wealthy people basically live modestly and hide their wealth. It also has some tidbits about how generational wealth tends to work in America. The first generation tends to be Entrepreneurial while later generations tend to be accountants, lawyers, doctors, and other high status jobs. In some of these families the generational wealth is lost, because sometimes the children become too dependent on their parent's money. I can kind of relate to that in a way. When I was living with my parents I made like $20-$30k a year most of the time. Within two years of moving out, my income shot up.

The Dumb Things Smart People do with their Money (meh)
This book was written by a financial advisor that talks about how people can act irrationally with their money. She also talks about gold and how paper gold is better than physical gold since it will trade higher because of its liquidity. I disagree with this notion though, because good luck getting paper gold in a financial system collapse. I think both have their uses. Basically the book says to invest for the long term and don't try and time the market.

The Lazy Man's Way to Riches (bad)
I almost didn't listen to this book because of the title. I was afraid that it was going to be one of those no-information-mind-set books and of cousre, it was. The first half of the book is basically Think and Grow Rich. The second half of the book is about ecommerce which also seemed a bit outdated.

Me (Recommend)
I enjoyed hearing about Elton Johns extravagent lifestyle. Interestingly, he actually was going broke at one point in the book even after his fame because he wasn't managing his money properly. He was actually leaving his finances up to someone else. He had such a high income that it wasn't a long term problem, but still. It goes to show that even high income earners need to manage their money in order to keep it.

Meet the Frugal Woods (meh)
This book is about a woman and her husband who decide to live dirt cheap for a few years while investing heavily before retiring at a young age. I felt a bit of a pretentious vibe from her, but it was a somewhat interesting story.

Talking to Strangers (meh)
Basically the book says to view the world from other people's perspectives and not just your own. Also, people tend to think their judgement is better than it really is.

Never Split the Difference (Recommend)
Cool book about negotiating. It talks a bit about fairness. It says that fairness is not necessarily 50/50. As long as both parties benefit from a deal it could be argued as being fair. This may be a bit of a stretch, but I think this can apply to evaluating a business. A businesse's worth is determined by the rate of return someone is willing to pay for. A good deal is relative to the other deals that are out there.

The Biggest Bluff (Recommend)
A female reporter turned poker player that worries a lot about a lot of things and was taught by Eric Siedel. Eric Siedel has a pretty strong mindset that I think is useful in investing as well.

You are A Badass at Making Money (bad)
Another Think and Grow Rich book. I sense that the author is in a multi-level marketing scheme. Also, the strange devotion to asking the magical universe of ultimate intelligence to give her things is a bit weird.

The Little Book of Common Sense Investing (Recommend)
Basically, fund managers suck at beating the market so don't give them your money. Also, you can't beat the market either since data shows that experts can't do it. Buying the index is good.

1984 (Recommend)
Granted, this book doesn't have much to do with investing. Just don't be a sheeple. Still a good book though.

Invested (Recommend)
Might be the best book I've ever listened to on investing assuming the claims are true. A daughter learns from her dad to invest her money in individual stocks to massively outperform the market. This book basically counters everything in the Little Book of Common Sense Investing saying you can outperform the index. It says that the market is not efficient and stocks are priced wrong sometimes because of emotions like fear and greed.


I ended up getting a book called Rule #1 and am currently listening to the invested podcast and learning quite a bit. Rule #1 essentially gives an easy rough guide to buying a company so that you are much less likely to get burned. Everything in this book just seems to click in a way that makes a lot of sense.

On Youtube, there is a channel called Prston Pysh and I watched two playlists of "Course 1: Stock Investing Like Warren Buffet - Beginners" and "Course 2: Stock Investing Like Warren Buffet - Intermediate". Watch at 1.5x speed to absorb what he says faster. How The Economic Machine Works by Ray Dalio is another great video to watch imo.

EDIT: I will soon read "One Up On Wallstreet" by Peter Lynch. I've heard this is a good book, but I'm yet to find out. I have found a free copy of the book on this website, because I don't like to spend money: https://archive.org/details/one-up-o...lynch/mode/2up
One of the things i do before reading anything is researching about the authors , only if they have excellent results/proven theories etcetc i invest time in the book .
Its a huge time/money saver option
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
06-06-2023 , 09:10 AM
2021 the last post , reading is so overrated ...
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote
07-06-2023 , 05:17 PM
https://churningandburning.com/categ...-trader-series

Guy moves to NYC to be a prop trader at an equity trading firm. It's pretty obvious which firm he's talking about if you're in that circle. Best thing you'll ever read about in prop trading.
The "What the hell should I read?!" Thread. Books, Blogs, and News Quote

      
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