Investment Books/Guidance

[sf88]

Having some more time over the last couple of weeks I have realised how much exposure I have to the property market with my own house, a couple of buy to let properties and I also work for a property developer. I think the time is right to to diversify slightly and invest in some stocks and shares in an ISA rather than buying another BTL which was my original plan. Can someone point me in the direction of some good reading material to help me get a better understanding of investing before taking the jump?

[bitchstewie]

Monevator
Jack Bogle's little book of investing
Lars Kroijer videos/books
Spend a few hours on the Finance forum here and read and absorb as many threads as you can
Vanguard
The Intelligent Money sticky on this forum

There's tons out there but those are all some decent starting points IMO.

[43034]

Tim Hale's Smarter Investing

[chip*]

The MAS provide a decent beginner guide + explanation of the common investments products and their associated risk (refer to section "Asset Class Explained").

https://www.moneyadviceservice.org.uk/en/articles/...

Beside buying the individual investment products, you can invest in investment funds (per above link, see section "what are pooled investment funds"). These are ready-made investment funds (mix of shares, bonds etc..) which you can buy into depending on your risk appetite & investment duration. For example, the link below is a decent basic educational guide from one of the biggest and well respected investment fund manager in the industry.

https://www.vanguardinvestor.co.uk/investing-expla...




Happy reading!

[frisbee]

I finally got around to reading the book I bought 10 years ago:

The Long and the Short of it: A Guide to Finance and Investment for Normally Intelligent People Who Aren't in the Industry

the first 90% of the book is very negative but correct.

Mind the fees, get your head around financial risk and look at the fundamentals and to the long term.

[BlackG7R]

JL Collins - Simple path to wealth.

[CinnamonFan]

Investing demystified by Lars Kroijer is a good read. He also has a short youtube series about it.


Investing Demystified Youtube Part 1

[BlackG7R]

CinnamonFan said:

Investing demystified by Lars Kroijer is a good read. He also has a short youtube series about it.


Investing Demystified Youtube Part 1

I've also read this book, and it's coming from a very similar angle as JL Collins. I just found A Simple path to wealth an easier read. JL Collins also did a very good interview at Google, which is also on YouTube.

[CinnamonFan]

BlackG7R said:

I've also read this book, and it's coming from a very similar angle as JL Collins. I just found A Simple path to wealth an easier read. JL Collins also did a very good interview at Google, which is also on YouTube.

Was not aware of the interview, will listen to it.

[putonghua73]

Here's a Reddit link that provides exactly your requirements: reading list

I would recommend Moneyweek's investing series on YouTube. Tim does a very good job of explaining the basics of investing Inc running through accounting tricks, as well as providing a layman's explanation of some other lesser understood areas [eurobonds].

I'd also recommend Investopedia.com

I started with a couple in the mid-2000s - all investing. If I were to start now, I would prefer the big picture [macroeconomics], then investing. Everything is macro right now, and there is too much distortion in the markets.

Behemoth also recommended Ray Dalio's How the Economic Machine Works

Note: you can obtain a free PDF of his book on Debt Cycles via his website (Google search).

FWIW, I was going to buy Blanchard's 'Macroeconomics' book but £55.00 price tag put me off until I have some understanding. Thus, currently going through 'Macroeconomics' via Khan Academy.

A couple of resources on Critical Thinking:
Mental Models
A Lesson on Elementary Worldly Wisdom
The Psychology of Human Misjudgement

Edited by putonghua73 on Saturday 11th April 11:08

[putonghua73]

Couple of more resources to peruse:

Trading: Anton Kreil

Anton may trigger some people, but he earned his chops and is geninely knowledgable and well-worth wathcing for just over 2 hours because he provides valuable truths about the industry re: tradiing ("inversion narrative"), and the difference between smart and dumb money. DA vouches for him as a 'good guy'. I do like the no BS style.

I would also recommend his seminar to a group of (mostly) Business students on careers in Investment Banking. Different topic, same principle re: buying into the "inversion narrative". Ignore the dumb clickbait YT title.

Another seminar from the ITPM, this time from Ross Williams

I am not a member of ITPM, nor do I intend trading (my timeframes are longer than trading). The purpose for posting the Ross Williams seminar was to illustrate the mindset and mental framework required for investing. Whether you are trading or investing (only difference is timeframe), the purpose is to make money.

One of the bibles to read that best illustrates all of the ways that one's thinking can go awry and become muddled is Daniel Kahneman's 'Thinking, Fast and Slow'. Charlie Munger mentioned in his Elementary Worldly Wisdom speech that one of the best ways to make money is to improve one's decision making process.

If you have Macro and Fundemental Analysis down, then here's the bible for Technical Analysis: 'Technical Analysis of the Financial Markets' - John J Murphy

Note: Amazon links for reference - buy from your preferred retailer.

Edited by putonghua73 on Sunday 12th April 22:40