What are some good investment books?

[scorch]

I've listened to the audio books, Real Money, Mad Money and Getting back to even all by Jim Cramer. It's all pretty good stuff, but a lot of the stuff he talks about confuses the hell out of me. Mainly when he talks about P/E ratios, IPOs and a whole plethora of other stuff I can't remember. Or maybe I'm just being stupid.

Can anyone recommend any other good books?

[2ndTimeAround]

..

Right now the way the economy is - investing is a really volatile subject, subject to extreme changes.

You do not know who to believe.......

IPO investing is the easiest way to start investing in the stock market - which is a risky investment with no guarantee.

Learned to hard way - last year lost $1000's in the stocks.

This week started a couple of evening classes - one is Financial Markets and Institutions.

Here's the course description;

This senior level course describes the various financial markets and the

financial institutions that serve those markets. Specific topics include

financial intermediaries, primary and secondary financial markets,

treasury and agency securities markets, municipal securities markets,

financial futures markets, and stock markets in the U.S. and worldwide.

Also included are evolving technologies, especially e-Business and

the Internet, and their effect on financial markets and institutions.

The first night of class the professor blew me away discussing how the U.S.financial systems works and how money is made in the stock market. We discussed derivatives, futures, forwards, options and swaps over's.

Next time around around - planning on being a more knowledgeable before investing stocks...xangelxxangelxxangelx

..

Edited September 2, 2010 by 2ndTimeAround

[2ndTimeAround]

Continuing on from above - it is to ones advantage to know about something before they invest in it. In my oppion before investing you need to look at the high's and low's, plus factors that change.

Right now it is understanding the changes in the economy, this is where the big money is made......

Just came across an audio CD link that can be downloaded, that explains Prices, Markets, the Roll of Profits and Losses, plus much more.

Copy and paste into link below - Thomas Sowell - A Citizens Guide to the Economy

http://btjunkie.org/

Look for FCL Series link and click on that to download.

Just finished downloading.

Looks impressive try it - listen to your hearts content........

01. Ch 01 - What is Economics.mp3 [3MB]

02. Ch 02 - Prices and Markets - The Role of Prices - 01 - Intro.mp3 [1MB]

03. Ch 02 - Prices and Markets - The Role of Prices - 02 - Prices and Costs.mp3 [4MB]

04. Ch 02 - Prices and Markets - The Role of Prices - 03 - Prices in Action.mp3 [1005KB]

05. Ch 02 - Prices and Markets - The Role of Prices - 04 - Rationing by Prices.mp3 [2MB]

06. Ch 02 - Prices and Markets - The Role of Prices - 05 - Prices and Supplies.mp3 [655KB]

07. Ch 03 - Prices and Markets - Price Controls - 01 - Intro.mp3 [821KB]

08. Ch 03 - Prices and Markets - Price Controls - 02 - Price Ceilings and Shortages.mp3 [419KB]

09. Ch 03 - Prices and Markets - Price Controls - 03 - Demand Under Rent Control.mp3 [2MB]

10. Ch 03 - Prices and Markets - Price Controls - 04 - Supply Under Rent Control.mp3 [2MB]

11. Ch 03 - Prices and Markets - Price Controls - 05 - The Politics of Rent Control.mp3 [1MB]

12. Ch 03 - Prices and Markets - Price Controls - 06 - Scarcity vs Shortage.mp3 [2MB]

13. Ch 03 - Prices and Markets - Price Controls - 07 - Black Markets.mp3 [621KB]

14. Ch 03 - Prices and Markets - Price Controls - 08 - Price Floors and Surpluses.mp3 [3MB]

15. Ch 03 - Prices and Markets - Price Controls - 09 - Quality Deterioration.mp3 [890KB]

16. Ch 03 - Prices and Markets - Price Controls - 10 - The Politics of Price Controls.mp3 [1MB]

17. Ch 04 - Prices and Markets - An Overview - 01 - Intro.mp3 [1MB]

18. Ch 04 - Prices and Markets - An Overview - 02 - Cause and Effect.mp3 [461KB]

19. Ch 04 - Prices and Markets - An Overview - 03 - Systemic Causation.mp3 [2MB]

20. Ch 04 - Prices and Markets - An Overview - 04 - Complexity and Causation.mp3 [744KB]

21. Ch 04 - Prices and Markets - An Overview - 05 - Individual vs Systemic Rationality.mp3 [670KB]

22. Ch 04 - Prices and Markets - An Overview - 06 - Incentives vs Goals.mp3 [3MB]

23. Ch 04 - Prices and Markets - An Overview - 07 - Scarcity and Competition.mp3 [178KB]

24. Ch 04 - Prices and Markets - An Overview - 08 - Economic Institutions.mp3 [965KB]

25. Ch 04 - Prices and Markets - An Overview - 09 - Incremental Substitutions.mp3 [2MB]

26. Ch 04 - Prices and Markets - An Overview - 10 - Subsidies and Taxes.mp3 [1017KB]

27. Ch 04 - Prices and Markets - An Overview - 11 - The Meaning of Costs.mp3 [760KB]

28. Ch 05 - Industry and Commerce - The Rise and Fall of Businesses - 01 - Intro.mp3 [254KB]

29. Ch 05 - Industry and Commerce - The Rise and Fall of Businesses - 02 - Adjusting to Changes.mp3 [7MB]

30. Ch 05 - Industry and Commerce - The Rise and Fall of Businesses - 03 - The Co-ordination of Knowledge.mp3 [4MB]

31. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 01 - Intro.mp3 [913KB]

32. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 02 - Profits.mp3 [391KB]

33. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 03 - Profits as Incentives.mp3 [2MB]

34. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 04 - Profit Rates.mp3 [1MB]

35. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 05 - Costs of Production.mp3 [81KB]

36. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 06 - Economies of Scale.mp3 [1MB]

37. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 07 - Diseconomies of Scale.mp3 [1MB]

38. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 08 - Costs and Capacities.mp3 [1MB]

...

42. Ch 07 - Industry and Commerce - Big Business and Government - 01 - Intro.mp3 [391KB]

43. Ch 07 - Industry and Commerce - Big Business and Government - 02 - Monopolies and Cartels.mp3 [4MB]

44. Ch 07 - Industry and Commerce - Big Business and Government - 03 - Anti-Trust Laws.mp3 [6MB]

45. Ch 07 - Industry and Commerce - Big Business and Government - 04 - Regulatory Commissions.mp3 [4MB]

46. Ch 08 - Industry and Commerce - An Overview - 01 - Intro.mp3 [1MB]

47. Ch 08 - Industry and Commerce - An Overview - 02 - Changing Conditions.mp3 [2MB]

48. Ch 08 - Industry and Commerce - An Overview - 03 - Leadership.mp3 [2MB]

49. Ch 08 - Industry and Commerce - An Overview - 04 - Knowledge and Decisions.mp3 [2MB]

50. Ch 08 - Industry and Commerce - An Overview - 05 - Agents.mp3 [837KB]

51. Ch 08 - Industry and Commerce - An Overview - 06 - Franchises.mp3 [415KB]

52. Ch 08 - Industry and Commerce - An Overview - 07 - Market vs Non-Market Economies.mp3 [4MB]

53. Ch 08 - Industry and Commerce - An Overview - 08 - Winners and Losers.mp3 [1MB]

54. Ch 09 - Work and Pay - Productivity and Pay - 01 - Intro.mp3 [2MB]

55. Ch 09 - Work and Pay - Productivity and Pay - 02 - Pay Differences.mp3 [541KB]

56. Ch 09 - Work and Pay - Productivity and Pay - 03 - Income Distribution.mp3 [4MB]

57. Ch 09 - Work and Pay - Productivity and Pay - 04 - Differences in Skills.mp3 [1MB]

58. Ch 09 - Work and Pay - Productivity and Pay - 05 - Job Discrimination.mp3 [3MB]

59. Ch 09 - Work and Pay - Productivity and Pay - 06 - Capital, Labor, and Efficiency.mp3 [2MB]

60. Ch 10 - Work and Pay - Controlled Labor Markets - 01 - Intro.mp3 [302KB]

61. Ch 10 - Work and Pay - Controlled Labor Markets - 02 - Job Security.mp3 [3MB]

62. Ch 10 - Work and Pay - Controlled Labor Markets - 03 - Minimum Wage Laws.mp3 [414KB]

63. Ch 10 - Work and Pay - Controlled Labor Markets - 04 - Unemployment.mp3 [2MB]

64. Ch 10 - Work and Pay - Controlled Labor Markets - 05 - Informal Minimum Wages.mp3 [1MB]

65. Ch 10 - Work and Pay - Controlled Labor Markets - 06 - Differential Impact.mp3 [1MB]

66. Ch 10 - Work and Pay - Controlled Labor Markets - 07 - Collective Bargaining.mp3 [141KB]

67. Ch 10 - Work and Pay - Controlled Labor Markets - 08 - Employer Organizations.mp3 [2MB]

68. Ch 10 - Work and Pay - Controlled Labor Markets - 09 - Labor Unions.mp3 [2MB]

69. Ch 11 - Work and Pay - An Overview - 01 - Intro.mp3 [384KB]

70. Ch 11 - Work and Pay - An Overview - 02 - The Mystique of Labor.mp3 [3MB]

71. Ch 11 - Work and Pay - An Overview - 03 - Allocation and Inequalities.mp3 [2MB]

72. Ch 11 - Work and Pay - An Overview - 04 - Occupational Pay Differentials.mp3 [679KB]

73. Ch 11 - Work and Pay - An Overview - 05 - Income Distribution.mp3 [3MB]

74. Ch 12 - Time and Risk - Investment and Speculation - 01 - Intro.mp3 [2MB]

75. Ch 12 - Time and Risk - Investment and Speculation - 02 - Speculation.mp3 [3MB]

76. Ch 12 - Time and Risk - Investment and Speculation - 03 - Inventories.mp3 [649KB]

77. Ch 12 - Time and Risk - Investment and Speculation - 04 - Return on Investment.mp3 [2MB]

78. Ch 12 - Time and Risk - Investment and Speculation - 05 - Present Value.mp3 [187KB]

79. Ch 12 - Time and Risk - Investment and Speculation - 06 - Prices and Present Values.mp3 [2MB]

80. Ch 12 - Time and Risk - Investment and Speculation - 07 - Natural Resources.mp3 [3MB]

81. Ch 13 - Time and Risk - Risks and Insurance - 01 - Intro.mp3 [647KB]

82. Ch 13 - Time and Risk - Risks and Insurance - 02 - Bonds.mp3 [2MB]

83. Ch 13 - Time and Risk - Risks and Insurance - 03 - Variable Returns vs Fixed Returns.mp3 [140KB]

84. Ch 13 - Time and Risk - Risks and Insurance - 04 - Stocks and Bonds.mp3 [2MB]

85. Ch 13 - Time and Risk - Risks and Insurance - 05 - Risk and Time.mp3 [1MB]

86. Ch 13 - Time and Risk - Risks and Insurance - 06 - Risk and Diversification.mp3 [903KB]

87. Ch 13 - Time and Risk - Risks and Insurance - 08 - Investing in Human Capital.mp3 [1MB]

88. Ch 13 - Time and Risk - Risks and Insurance - 09 - Insurance.mp3 [4MB]

89. Ch 14 - Time and Risk - An Overview - 01 - Intro.mp3 [657KB]

90. Ch 14 - Time and Risk - An Overview - 02 - Financial Institutions.mp3 [2MB]

91. Ch 14 - Time and Risk - An Overview - 03 - Time and Money.mp3 [1MB]

92. Ch 14 - Time and Risk - An Overview - 04 - Economic Adjustments.mp3 [1MB]

....

95. Ch 15 - The National Economy - National Output - 01 - Intro.mp3 [607KB]

96. Ch 15 - The National Economy - National Output - 02 - The Fallacy of Composition.mp3 [1MB]

97. Ch 15 - The National Economy - National Output - 03 - Output and Demand.mp3 [1MB]

98. Ch 15 - The National Economy - National Output - 04 - Measuring National Output.mp3 [945KB]

99. Ch 15 - The National Economy - National Output - 05 - The Composition of Output.mp3 [377KB]

100. Ch 15 - The National Economy - National Output - 06 - Comparisons Over Time.mp3 [321KB]

101. Ch 15 - The National Economy - National Output - 07 - International Comparisons.mp3 [2MB]

102. Ch 15 - The National Economy - National Output - 08 - Statistical Trends.mp3 [2MB]

103. Ch 16 - The National Economy - Money and the Banking System - 01 - Intro.mp3 [281KB]

....

107. Ch 16 - The National Economy - Money and the Banking System - 05 - The Banking System.mp3 [3MB]

...

157. Ch 20 - The International Economy - International Transfers of Wealth - 03 - Other Transfers.mp3 [91KB]

158. Ch 06 - Industry and Commerce - The Roll of Profits and Losses - 05 - Costs of Production.mp3 [81KB]

159. info.txt [4KB]

....more

PM me if you need help D/L...

.

Edited September 3, 2010 by 2ndTimeAround

[scorch]

Well Cramer said in his Audio book, Getting Back to Even, that the stock market crashed at the end of '08 and recommended that everyone take 5 years worth of money out of the market because it was too dangerous.

A lot of Cramer's stuff sounds like sound advice and he recommends a lot of stocks in his new book such as conoco philips, Bhp, home depot, regional banks or chase and visa because the market is expected to recover. He does also recommend always checking the company's financial statements because the book could be outdated and that there's no reason to own a stock if you don't think it's going up. Another pick he recommended for example was Verizon (VZ) because of it's high dividend yield and it's a cyclical stock that should do good when the market recovers right? Although Cramer's philosophy seems very good and sound, I think most of it just confuses the hell out of me maybe because he's not explaining it good enough for people that don't know what they're doing like me.

I dabbled with stocks a couple years back, but hadn't gotten too involved because I needed the money for my house, but now I think it's a good idea to get back into it.

Thanks for the suggestion, 2ndTimeAround. I am very competent to torrents. I shall add the series to my listening list.

Might as well get back into the market before it recovers right?

[Bigwoodystyl]

From a common sense perspective, nothing is better than Andrew Tobias' The only Investment Guide You'll Ever Need. It's comprehensive even if unsophisticated... I sometimes read his blog at www.andrewtobias.com. He has very liberal views and he's homosexual, so a lot is devoted to that, but I love his stock picks... I've made more money than I've lost taking his advice on small speculative plays over the last 10 years.

I highly recommend Classics: An Investor's Anthology, by Charles Ellis.

Peter Lynch's One Up On Wall Street, with the simple mantra of "invest in what you know" was influential in my formative years.

I enjoyed Liar's Poker, which I recently reread, but that's somewhat outdated now [although, still apt due to the discussions of how mortgages went from unsexy investments to high-yield securitized packages at the biggest bond player in the world]

Jim Rogers' Investment Biker and Adventure Capitalist are two of my all-time favorite books and both are good primers for international investments, even though they are light.

I've enjoyed reading Warren Buffer's letters to his shareholders published once annually by Berkshire Hathaway.

Burton Malkiel's analysis of random walk theory makes a lot of good points, but it's dry.

[Bigwoodystyl]

I've listened to the audio books, Real Money, Mad Money and Getting back to even all by Jim Cramer. It's all pretty good stuff, but a lot of the stuff he talks about confuses the hell out of me. Mainly when he talks about P/E ratios, IPOs and a whole plethora of other stuff I can't remember. Or maybe I'm just being stupid.

Can anyone recommend any other good books?

Cramer is smart, but he has a lot of inside information and I don't feel that he ever tells the complete story, partially because he can't... doing so would damage his relationships within the industry and in some cases may even be illegal. As such, his analysis is often fragmented and technically "weak"... Having said that, I like his show for entertainment and I watch it when I can, which is maybe once every 2 weeks..

[scorch]

Thanks for the suggestions, I'll look into Classics: An Investor's Anthology, by Charles Ellis and Peter Lynch's One Up On Wall Street.

[scorch]

I just finished listening to Peter Lynch's One Up On Wall Street. A lot of the principles were very similar to Cramer's only explained differently and with less fanaticism. Still pretty good stuff though.

I was also told about The Alchemy of Finance by George Soros, Rule # 1 by Phil Town and Technical Analysis A to Z by Steven B. Achelis which is actually available for free if you do a quick google search. All were recommended to me on a stock market forum that I go to sometimes. I'll probably check those out as well.

Other resources welcome.

Edit, just got a hold of Adventure Capitalist - Added to queue. I also came across a movie called Meltup while doing a search for Jim Rogers. It's available for free on youtube. It was a pretty interesting documentary that just came out about rising inflation and the national debt.

Edited September 6, 2010 by scorch

[Loverde]

The Interpretation of Financial Statements by Benjamin Graham & Spencer B. Meredith

Beating the Street by Peter Lynch ,The Only Three Questions That Count by Ken Fisher.

[Bigwoodystyl]

On a related note, I've always liked the classic Think And Grow Rich by Napoleon Hill. Just be aware that it has a lot more to do with setting and accomplishing personal goals than it does investments.

[Guest usctrojanalum]

I highly recommend Smart Money by Michael Konick. It is a very different type of investing and more of a lower content read but I downloaded it to my Kindle last night and I haven't been able to put it down.

[Austin]

There are thousand of books on investment written by different authors but i would suggest best investment book here as below

(The Intelligent investor by Benjamin Graham) that is related to stock in which you can make investment .

[PriyaJain]

For a new investors that you should more skill about stock market. There are so many risk to face problem. And be careful from scammers.

______________________

Thestealthstockreport.com

[markmiller]

If you want to invest on good books in economy and investment, then read the "The Intelligent Investor" by Benjamin Graham. It details years of accumulated wisdom from one of the all-time investment greats and specifies that loss minimization is more important than profit maximization. Graham's investment guide was first published in 1949 and described by Warren Buffett as "the best book on investing ever written".

[bmc100]

All the books out there are crap!! Do not listen to Cramer. he is just a talking head. Do not listen to the idiots on CNBC. If you want to really learn about the basics of investing, study Modern Portfolio Theory by Harry Markowitz. It is the standard for investing across the financial industry. The Theory was created as a thesis in mathematics. It won a noble prize in 1990. Then once you get through MPT, study post-modern portfolio theory.

While everyone on here will tell you about all the money they lost, I was making money in the markets.

[jq26]

While everyone on here will tell you about all the money they lost, I was making money in the markets.

So everyone was losing money and you were making money? You should hang out a shingle.

[DHK]

If I was going to read books on investing, I would find books about emotional intelligence and how it relates to money.

Reading technical books is all well and good, but we live in an emotional and mood-changing world. If you can take your emotions out of your decision making and the results you DO get (good or bad), you'll do much better with your money.

You'll also become a Vulcan at the same time.