Although the book is thin, it is still mostly useless filler because his great message is simple and easy to understand. He even includes a check list as an aid to finding good stocks.
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Don't make that mistake. I built up ￡25,000 in savings and after doing an MSc in Investment Banking and having a genuine interest in the market and Economics since my teens I went in with small positions in a variety of companies and gradually built up a portfolio that included all the things you want to invest in as well as others. I was a strong performer and always had gains but a lot of the time was spent waiting around for things to happen and when they did it wasn't usually good.
Stock Brokers, Investment Bankers etc make a killing on fees managing money for people who don't have a clue. If you go to a decent Investment Bank they will only give you 15% returns on average if you deposit ￡1,000,000 and then they use that cheap money to buy big chunks of companies so they can influence strategy etc and you won't get that for just ￡3000. At best you might be on par with inflation which exposes you to opportunity cost so play it smart and play the Warren Buffet or George Soros game........
Build up little companies of your own. Do what you enjoy and commercialise it. When you have good cash flow then invest in another company and so on and so forth. This is your growing time so focus on the real stuff rather than the fantasy you might be sold on films like Wall St or the new Wolf of Wall St. They are films and real life is much different my friend and don't believe the hype LOL. I've had Gold, Oil and all sorts of other companies go bankrupt on me so just steer clear for now until you become a heavy hitter.
Keep your money in the bank and get clued up and then only start investing money you can afford to lose on things you know can't fail.
As for reading, use the internet instead. Loads of people have blogged about Investment and you can gain a lot more perspective on the net rather than reading a book as the markets are always changing. Get familiar with Investopedia, Khan Academy and such like and just follow your instincts from there.
Good Luck with whatever you do and I hope it makes you super rich
The Intelligent Investor by Benjamin Graham
Common Stocks and Uncommon Profits by Philip Fischer
Value Investing by James Montier
How to Think Like Benjamin Graham and Invest Like Warren Buffett by Lawrence A. Cunningham
Fooled By Randomness by Nassim Taleb
The Misbehavior of Markets by Benoit Mandelbrot (This is a must read if you want real insight into how markets work)
I certainly agree that One up on Wall Street is an excellent book.
First I would buy a book about the fundamentals. Pricing systems, portfolio construction, corporate actions, dividends, financial statements & ratios etc.
Basically a beginners/dummies guide to the stock market.
From here you can start to ask questions on what you don;t understand.
Read investment magazines, financial press, join forums.
Personally I would avoid trading method books.
You may discover that ￡3k is possibly too little.
I like Investors Chronicle: Beginners Guide to Investment.
It is out of print but 90% of sections still valid (it is UK orientated as well)
Look at Investors Chronicle, Shares Magazine, Financial Times, ADVFN forum, Sharewordl.co forum and Q&A
is that all you've got?
why not just keep it in savings,,, somewhere safe without risk,,, everyone needs a savings in case of emergencies,,, everyone,,, don't risk it.
gordon gekko warren buffet
Hey guys, i'm getting a small chunk of money (about ￡3000) to invest with, i was hoping to put this onto the stock market, oil, gold etc with the majority of the money, then doing a little bit of day trading (probably through spread betting) with a smaller amount of it.
I have a little bit of experience in investment, However i would really like to get knowledgeable. What books would you recommend that i read?
