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/biz/ - Business & Finance

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16699310 No.16699310 [Reply] [Original]

About to read pic related. What am I in for?

>> No.16699321

>>16699310
you're in for sound investment advice. But now is not the time to invest as everything is at ATH

>> No.16699323

I honestly believe all investment books are a scam, why would someone create more competition in his market?
>>16699321
>everything is at ATH
lol

>> No.16699416

>>16699310
>>16699321
Yes. Basically common financial sense. Buy high, sell low. Normies get lost in the fever of the moment. Don't be that normie. Be the redpilled (financially speaking). Yadayadayada...

>> No.16699427

>>16699416
Sorry. This is /biz/ fault. I meant, buy low sell high.

>> No.16699448

>>16699323
You can make more money advising people or investing their money than you would by simply investing your own.

>> No.16699457

>>16699310
>retarded boomer book
Read Soros, Dalio or Lynch

>> No.16699481

>>16699310
It's the type of book you wanna read when your net worth is over $2m. Otherwise no point.

>> No.16699530

>>16699323
They generally are all scams with very little actionable information. The vast majority of shit you find regarding any investment, trading, whatever "education" is the financial equivalent of "just be yourself." It doesn't even take a lot to see how ludicrous some of this stuff is. All you have to do is just actually participate in the market. Short term trading, long term investing, it doesn't matter. Just participate.

If you go to the gym and lift for a year and then if you were to read books on training that were equivalent in quality to investment/trading books, they would be filled with shit like "okay on every lift, make sure you don't drop the weight on your head...good...now make sure you don't load up a bar with 800 lbs on your first day...good..."

You might then say "well, I guess some people need to hear that" but all of these books almost always take a very odd, pseudo-scientific turn where they go one step further and start espousing some really subjective claims that are separate from the actual mechanics of the market.Training equivalent would be like "okay, now everytime you go to the gym, go into the locker room and growl at yourself in the mirror like a bear...rawr!"

That being said OP... The Intelligent Investor is one of the better, more grounded books I've read, but it is strictly an introductory text. It points you in the general right direction for how you should approach the market: balanced portfolios with clearly defined goals, risk management front and center, patience, etc., but the book isn't infallible and I've seen way too many people read it and suddenly think they're a mini-Warren Buffett. The gold standard approach is top down-down macro to micro analysis to build a thesis, then portfolio assembly with long AND short positions/pairs trades to capture a return. You're goal is to beat some predetermined benchmark with comparable levels of risk, otherwise invest in the benchmark.

>> No.16699593

>>16699323
> t. someone who hasn't made it
The secret to success is exercising the ability to help others become successful.

>> No.16699754

>>16699593
You demonstrate an interesting point on why people need to be all the more skeptical. The demographic for investment advice, dating advice, self-help, etc. is ENORMOUS and the consumers in that demographic are some of the most cult-like people on the planet.

They want gurus to tell them vague shit that they can interpret in their own personal way and call it profound. You can shovel all sorts of shit down their throats and they'll pay you for more while building temples in your name. If you just step back and look at it, you see what the real lucrative business is: selling hope to suckers.

The claim
>The secret to success is exercising the ability to help others become successful
sounds like it was lifted right out of the Snake Oil Salesman handbook. It's extremely dishonest and it's the sort of premise a dishonest person would try to get you to accept so you can justify why they're charging you $50 if all they want to do is help and they've already achieved all the success they claim by doing exactly what they're going to teach you.

People who buy into this shit are the same sad fucks who go to a strip club and think that strippers are into them. Here's what you do. Steal, pirate, download, whatever every single book you intend to read on a given subject. If it ends up legitimately being a factor in your success, cut a check for 5x the value of the book directly to the author otherwise, you paid exactly what the book was worth: nothing.

>> No.16699824

>>16699310
Is irrelevant because efficient market theory.

>> No.16699925

>>16699530
>>16699754
Amazing content. Thank you for posting this.

>> No.16700051
File: 197 KB, 456x302, 1575958746738.png [View same] [iqdb] [saucenao] [google]
16700051

>>16699310
Didn't benjamin Graham say it was outdated bfore he died? How is the little book that still eats the market by Joel Greenblatt?

>> No.16700573

tl;dr

Stock picking now is mostly a waste of time because everyone has access to the same information because of the internet. Stick with index funds and DCA into it annually. If the hedge funds and other investment funds and their teams of geniuses

>> No.16700580

>>16699310
Read Security Analysis instead... It's a tougher read, but it'll teach you a lot more as well

>> No.16700582

>>16700573
can't consistently beat the market, than neither can you.

>> No.16700591

>>16699593
Sounds like Amway MLM bullshit

>> No.16701271
File: 248 KB, 1914x745, 937[1].jpg [View same] [iqdb] [saucenao] [google]
16701271

>>16699416
sounds right