/biz/ - Business & Finance

>>19341052
I read Millionaire teacher end of high school. Buy index funds. That's the book

diversify your books as well my fren.

Old but gold

>>19341052
Ah yes! Read few more of these and you will be able to write your own.

>>19341052
>buying any of these self help books with these titles and covers like a total chump
you're not gmi sorry man, its innate

Didn't buy the millionaire fastlane

not gonna make it

The only thing you should take away from these books is that if you want to get rich sell how to get rich books to chumps

>>19341652
This lol

Read the four hour workweek even though its normie tier by now

Here take 850MB more of trading books
https://mega.nz/file/79N3lYDb#l5fgEcuIRqcjyiF6nxqNI8asug3UQCbekzSQgKiYklM

Lmao I haven't even read Chainlink's whitepaper

>>19341052
Wow congratz you wasted your money & now you're going to waste your time

>>19341052
I read "A Random Walk...." but gave up part of the way through it after it repeatedly (many times) slagged off TA. Once or twice was sufficient, but it was just over and over again.

You know you can download nonscam tertiary textbooks on risk management, asste allocation etc off the internet for free right? Like it's not light reading but fuck dam.

>>19343405
Random walk is a fake and gay theory

>>19343413
Check out prings ta explained

>>19341052

just finished a couple MJ Demarco books, i liked em. ill probably start Ordinary Men or Sovereign Individual next. or something else entirely, i just wanna stay motivated to get out of wage life.

>>19341052
>Sovereign Individual
I am about to buy this RN

>>19343430
I am in no hurry to read the rest

>>19341052

Hello Ausfinance

>>19341052
your meme starter pack lacks classics such as

>intelligent investor (without that you will not be intelligent)
>rich dad poor dad

>>19341052
I don't see the intelligent investor by gram, Aristotles books on politics and economics, nor Adams smith wealth of nations. You might as well just buy index funds like the rest of us.

>>19341052
I love how /biz/ hates on self-help books because they lack the attention span to read anything that's not a one-line shitpost on a Kyrgyzstanian suicide-assist forum.

>>19343674
I hate self help books because they seem to be some kind of gay selected bits from here and there of real pools of knowledge (like Wealth of Nations chad post above yours) but are written because some low-purpose rich dude has nothing to do and it worked for him (so it'll work for me too).

>>19341052

Fucking he'll anybooks became paid

I haven't read any of those books but I've read enough of those types and the basic gist of them all is:
>spend less than you make
>don't fall into money/debt traps
>buy index funds

None of that is bad advice, in fact it's pretty good. Just don't go through too many of these types expecting to find hidden troves of knowledge because they really are all just the same book re-written.
My top financial books are
>Set For Life
>!0x
>Think and Grow Rich

But you really learn just as much and more from watching youtube videos.

i think currently words of radiance is highest rated novel of all time (stormlight archieve is higher rated higher than game of thrones) and
harry potters. perhaps read that instead of meme selp helps. i have not read it so i dont have personal opinion it could be shit :=D

>>19341052
I want to be as happy as the guy top left

>>19341052
this >>19343413 exactly.
pic related for the equivalent of an economics degree.

Options, Futures and Other Derivatives by Hull was a very useful book to me.
To go beyond that I did a lot of reading of all sorts of thing from all over the place, following one general thread.
That modern portfolio theory is wrong.
>returns aren't normally distributed
>historical does not predict future returns/correlations/volatilites
>volatilities change over time, so a portfolio calculated from summary statistics doesn't even perform as predicted on backtests.
Let that sink in. The method doesn't even predict the data it is fit to.
>volatility isn't even an important measure of risk
The Shape ratio is a joke, but even the Sortino ratio misses the point.

Finding solutions to the failings of modern portfolio theory will allow you to make much better portfolios.
The biggest missing piece of the puzzle is the Kelly Criterion.

>>19343595
>>19343626
>Intelligent Investor
From the modern portfolio perspective Value investing is useless. It has slightly higher returns with a much higher volatility.
But I know volatility is irrelevant.
Graham's work is terribly outdated, but it does set you down the right path.

If you can come up with a model to output the distribution of the potential returns of a stock, then you can use the Kelly criterion to make an appropriately sized bet.
And with that you can maximize your compounding growth rate and minimize your risk of ruin.

>>19344018
Use libgen like everyone else.

>>19343405
TA is nonsense though lmao

u mad?

>>19344312
Saying TA is nonsense is just dumb retarded low-t trolling. Don't get me wrong, a lot of it is, but if you think its all nonsense you simply don't know enough. I recommend Prings TA Explained.

>>19344312
Grow up

>>19344342
>>19344361
lmao keep trying to make money day trading retards, c u in 5 years broke as a bitch

>>19344209
>From the modern portfolio perspective Value investing is useless. It has slightly higher returns with a much higher volatility.

that's why i listed it in meme classic books that every starter back should include. i have not
read any of these self help or inveseting books.
only investing book i could consider reading is book by cis a man who used to be perhaps the best the best retail trader in the world' in but it's only available in japanese by now

>>19341588
Checked and based

books like this are poison because the time you invest completing them leverages you into believing what they say

>>19343983
Cash flow quadrant

>>19341052
>literal reddit tier reading
>>19341588
based and redpilled

>>19341052
Getting rich step one: do not waste your money on any of these books unless you're buying them for $1 or less at Goodwill to sell on Amazon or eBay.

>>19343595
Rich Dad Poor Dad isn't worth the paper it's printed on.

>>19343983
Lol this book is just some basic trash.
Let me sum it up for you
1-don’t spend above your means
2-investing>working

>all of them normy books for dumb people earnig 30k a year and how to get

>COMPOUND INTEREST

sorry anon you cant teach entrepreneurship if you werent getting stuff off the ground instinctively by age 20 theres no point trying to become a millionaire by entrepreneurship

>>19345507
Unironically this is pretty accurate.
>entrepreneurship is the only known way to grow wealth in a lifetime.
>even traders start a business from it to use OPM to multiply their returns while limiting their risk

If you don't think like a founder/entrepreneur, you aren't going to make it unless you slave away your life for a high paying forever career in medicine or tech..

>>19343413
>>19344209

Also, libraries have been letting people borrow books for free for the last century or so. They teach you how to do it in elementary school.

>Buying books
>Buying books brand new
NGMI

>>19344209
Will reading these books give me a handle on how to invest? Because making more money is all I'm looking for here. You've derided value investing, but will reading these books effectively teach me a better method to invest? If so, then how? Please go into detail, because if they are worth it then I'll read them, and if you give a good justification other people who stumble upon this thread archived or alive may read them too.

>>19341052
The fact that OP is a real person that unironically made this post, proves that investing in pump and dump schemes isn't a complete waste of time, because there are always people much dumber than you.

>>19343983
Ultimate meme book with zero practical advice. No wonder it's a bestseller.

>>19345853

It's even funnier because every business that guy started went bankrupt, before he got into the business of telling other people how to get rich.

I feel sorry for the average retail investor.

So, this is what I think it's happening.


This is a gigantic bubble that is bursting. If you see the charts of the the last 20 years of the US industrial production and the DOW, you clearly see a total detachment from reality.
Coronavirus was only the trigger, the catalyst that had shaken a zombie economy which was strong in the appearance thanks to the ridiculuous FED printing to prop up the markets.
If it weren't for the FED, the stock market would have crashed by more than 50% in March-April of this year.
Anyway, I think that big drop will come in autumn for two reasons:


1) Trump. The FED will play the music till the november election because Trump wants to be elected at all costs and he can say to the average trumptard that the economy is strong, that he saved the US from coronavirus and so on. Reality: he's just another clown who is there to protect some special financial interests.
2) A possible 2nd wave of coronavirus. This will create again panic selling among the investors.
3) Q3 earnings BELOW expectations. You see how everyone is saying "come on guys, everything is fine, the economy will start again at the end of the year".
I don't think this will be the case.

So, I think that the chickens are coming to roost in Q4 of 2020 (October-December 2020).


Maybe I am wrong. This is only my opinion.
I suggest you to stay >90% cash. If you feel safe, you can find some good opportunity (very few indeed). See for example CVX, KO, T, VZ. They are not anymore at good prices like in March, but if they drop by at least 10% they are clearly a buy.


Don't be the average investor: please do all your research when you buy a company. Don't buy only because "it's cheap". Avoid companies like AAL which sounds next to bankrupt. A bailout is not guaranteed (don't trust Trump, don't trust ANY president).

Be careful and never put your eggs in one basket. (and buy LINK)

>>19341052

Just FYI Millionaire Next Door is an absolute meme book. It’s Rich Dad Poor Dad tier.

>>19345639

>entrepreneurship is the only known way to grow wealth in a lifetime.

Retard alert

>>19346389
He was missing the word exponential

>>19341052
Buy a kindle and save your money

which one should i read next /biz/?

>dumas
>camus
>dostoevsky

was thinking of starting brothers karamazov again. im retarded and last time i only made it about 250 pages in and tapped out halfway through that one brothers insanely long story at the bar or whatever.

>>19341052
>random walk
>bogleheads
great reads but literally telling you that you will never be rich

>>19341144
>Ah yes! Read few more of these and you will be able to write your own.
This. All books are scam, unless it's a reference. These investing books could be summed up in a short blog article or like 10 tweets.

>>19341052
>didn't pirate them online
You'll be waiting a very long time

Nice one anon. Millions of Americans have read those books. And the American economy is in a really good shape now, so the advice must have worked!

You'll be rich soon, just like the average American!