Hi Friend
I've never traded and my parents no nothing about investing so I'm trying to learn by myself
Answer
There are two paths you can go from here. You can do what everyone here recommends, which leads to: meager returns, following the market, and is hassle-free. You won't have to think much, and you are basically saving money while you progress in your careers towards other things.
Or, if you want to be actively investing, that is, you want to play with money and get rich, which isn't for everyone, as it's very tedious and time consuming, then I have plenty of recommended reading material for you.
First, read "Rich Dad, Poor Dad", then the sequel, "The Cashflow Quadrant". While these are not necessarily the "how-to" on investing, and there is much controversy over the author's works, they are very eye-opening in the way the rich think, motivating, and easy reads. It's a good start. From there, you can pick up more motivational material like "the richest man in babylon" or "the greatest salesman in the world"
If you're still interested, then you really need to get into the....well, boring, dull stuff, the meat and bones. Take some accounting classes. You can teach yourself with www.simplestudies.com. If you don't learn accounting, you don't have much hope to invest. You need to learn how money works.
Buy a book by Benjamin Graham called "the Intelligent Investor". It's an intro to the way the best stock investors invest. If you aren't bored to tears by the time you finish, and you're hungry for more, pick up his textbook "Security Analysis", where the real meat and bones are. If you feel that you still want to invest, but stock isn't for you, try out Dolf de Roos's "Real Estate Riches". Or if generally you're finding that investing is just not your cup of tea, and you want to build a business, I suggest reading Michael Gerber's "The E-Myth Revisited" and Guy Kawasaki's "The Art of the Start".
Some books that are good to throw in between these reads are the autobiographies of great entrepreneurs, such as "Grinding It Out: The Making of McDonalds" by Ray Kroc, "The Autobiography of Andrew Carnegie", "Losing My Virginity" by Richard Branson, and "Made in America" by Sam Walton. These will all let you see straight from the source how the rich think.
Be aware that most books about money are a lot of fluff with very little substance. Then, you have a category that has good information but perhaps not what you want, for instance, Suze Orman, as someone had mentioned before, or any articles the Motley Fool puts out. There are lots of things out there on how to invest - you'll see lots about mutual funds and IRAs and 401ks and so forth. For most people, investing is about saving money in a certain kind of fund. Most people are what Benjamin Graham calls "defensive investors", who want to be smart with their money, but don't really want to be full-time investors. Of course, they make minimal gains when compared with full-time investors. So, it really depends what you want to do.
Don't forget to study accounting, make it a priority.
cscholberg@gmail.com
There are two paths you can go from here. You can do what everyone here recommends, which leads to: meager returns, following the market, and is hassle-free. You won't have to think much, and you are basically saving money while you progress in your careers towards other things.
Or, if you want to be actively investing, that is, you want to play with money and get rich, which isn't for everyone, as it's very tedious and time consuming, then I have plenty of recommended reading material for you.
First, read "Rich Dad, Poor Dad", then the sequel, "The Cashflow Quadrant". While these are not necessarily the "how-to" on investing, and there is much controversy over the author's works, they are very eye-opening in the way the rich think, motivating, and easy reads. It's a good start. From there, you can pick up more motivational material like "the richest man in babylon" or "the greatest salesman in the world"
If you're still interested, then you really need to get into the....well, boring, dull stuff, the meat and bones. Take some accounting classes. You can teach yourself with www.simplestudies.com. If you don't learn accounting, you don't have much hope to invest. You need to learn how money works.
Buy a book by Benjamin Graham called "the Intelligent Investor". It's an intro to the way the best stock investors invest. If you aren't bored to tears by the time you finish, and you're hungry for more, pick up his textbook "Security Analysis", where the real meat and bones are. If you feel that you still want to invest, but stock isn't for you, try out Dolf de Roos's "Real Estate Riches". Or if generally you're finding that investing is just not your cup of tea, and you want to build a business, I suggest reading Michael Gerber's "The E-Myth Revisited" and Guy Kawasaki's "The Art of the Start".
Some books that are good to throw in between these reads are the autobiographies of great entrepreneurs, such as "Grinding It Out: The Making of McDonalds" by Ray Kroc, "The Autobiography of Andrew Carnegie", "Losing My Virginity" by Richard Branson, and "Made in America" by Sam Walton. These will all let you see straight from the source how the rich think.
Be aware that most books about money are a lot of fluff with very little substance. Then, you have a category that has good information but perhaps not what you want, for instance, Suze Orman, as someone had mentioned before, or any articles the Motley Fool puts out. There are lots of things out there on how to invest - you'll see lots about mutual funds and IRAs and 401ks and so forth. For most people, investing is about saving money in a certain kind of fund. Most people are what Benjamin Graham calls "defensive investors", who want to be smart with their money, but don't really want to be full-time investors. Of course, they make minimal gains when compared with full-time investors. So, it really depends what you want to do.
Don't forget to study accounting, make it a priority.
cscholberg@gmail.com
To veteran investors what are some books and or websites that you used to learn investing?
Brad G
I'm trying to get into investing and instead of going through disappointment after disappointment of books and websites I thought it would be in my better interest to ask some seasoned investors how the learned. If you know any website tutorials or books that helped you learn at least the basics of investing please share this knowledge with me, thanks.
Answer
Investigate the different investments you have available to you. Make THE BEST investment you can: Invest in yourself - your own education. Once you have that knowledge, no one can ever take it away.
In the beginning ânewbieâ traders & investors DO NOT INVEST any money. It probably wonât be long when youâll feel youâre ready to invest your hard-earned money. Before taking that step, you really should do research about what you are investing in.
You should LEARN HOW:
A] the stock market works. B] to invest in many, many various ways. C] to properly trade
D] Properly manage the money in your trading account.
"Newbie" investors & traders ALWAYS make mistakes. In fact, throughout a person's trading, he/she makes mistakes.
In the beginning, you READ & LEARN about the market & how it works: Read "Investing for Dummies" As you read & do research about the investments you are interested in, sometimes you'll come across a financial or investment term you never heard before.
http://investopedia.com is a free site. Itâs recognized by Y! A as a "Featured Knowledge Partner".
You can usually find excellent, easy-to-understand definitions of many financial & investment terms by going to Investopediaâs dictionary.
It also has a free, paper trading platform. You can set up a virtual account & almost trade as though you were trading with real money.
http://finance.yahoo.com is also recognized by Y! A as a "Featured Knowledge Partner"
THIS IS NOT SPAM: I DO NOT know this man. I am not associated w/ him in any way. I know of him & the wonderful book he wrote. You should invest in a copy of
âThe Richest Man in Babylonâ by George S. Classon. You can get the book on http://amazon.com
Its easy to read & follow. You can write in it & make notes in it. Simply read five [5] pages of this book - or any book - each and every day.
OR You can leave it on the shelf, on a table or on the floor & let it collect dust.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
Investigate the different investments you have available to you. Make THE BEST investment you can: Invest in yourself - your own education. Once you have that knowledge, no one can ever take it away.
In the beginning ânewbieâ traders & investors DO NOT INVEST any money. It probably wonât be long when youâll feel youâre ready to invest your hard-earned money. Before taking that step, you really should do research about what you are investing in.
You should LEARN HOW:
A] the stock market works. B] to invest in many, many various ways. C] to properly trade
D] Properly manage the money in your trading account.
"Newbie" investors & traders ALWAYS make mistakes. In fact, throughout a person's trading, he/she makes mistakes.
In the beginning, you READ & LEARN about the market & how it works: Read "Investing for Dummies" As you read & do research about the investments you are interested in, sometimes you'll come across a financial or investment term you never heard before.
http://investopedia.com is a free site. Itâs recognized by Y! A as a "Featured Knowledge Partner".
You can usually find excellent, easy-to-understand definitions of many financial & investment terms by going to Investopediaâs dictionary.
It also has a free, paper trading platform. You can set up a virtual account & almost trade as though you were trading with real money.
http://finance.yahoo.com is also recognized by Y! A as a "Featured Knowledge Partner"
THIS IS NOT SPAM: I DO NOT know this man. I am not associated w/ him in any way. I know of him & the wonderful book he wrote. You should invest in a copy of
âThe Richest Man in Babylonâ by George S. Classon. You can get the book on http://amazon.com
Its easy to read & follow. You can write in it & make notes in it. Simply read five [5] pages of this book - or any book - each and every day.
OR You can leave it on the shelf, on a table or on the floor & let it collect dust.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name!
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