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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: directionseeker on April 23, 2013, 08:53:46 PM

Title: Can Someone Recommends One Investment Book For Beginner?
Post by: directionseeker on April 23, 2013, 08:53:46 PM
I just cleared my debt recently and looking to learn more about investing while I accumulate my cash.

Can someone recommends one investment book for beginner?
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: LowER on April 23, 2013, 09:15:45 PM
I recommend starting here: http://www.bogleheads.org/wiki/Main_Page.

You will get book recommendations there as well.

There are also videos about investing basics.

The forum there is amazing!!!! Even for the rank beginner.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: grantmeaname on April 24, 2013, 08:17:04 AM
A Random Walk Down Wall Street (http://en.wikipedia.org/wiki/A_Random_Walk_Down_Wall_Street).
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: GreenGuava on April 24, 2013, 08:21:34 AM
I'd like to second the suggestions for Bogleheads (wiki, forum, and books), as well as Random Walk.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mje173 on April 24, 2013, 09:22:36 AM
Horrble examples in this thread, although probably all with good intent.

Nice private banker to the rescue:http://www.amazon.com/The-Four-Pillars-Investing-Portfolio/dp/0071747052 (http://www.amazon.com/The-Four-Pillars-Investing-Portfolio/dp/0071747052)

I, being a professional investor, still refer to my copy.

Best,
M
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mobilisinmobili on April 24, 2013, 10:18:16 AM
I support the Bogleheads recommendation as well.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: grantmeaname on April 24, 2013, 11:38:18 AM
Horrble examples in this thread, although probably all with good intent.
Care to be halfway productive and explain why, rather than shitting and leaving?
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mje173 on April 27, 2013, 12:50:37 PM
I didn't "shit and leave".

I offered an actual text book with loads of great information that explains the ins and outs of investing to a complete begginer.

I'm sorry to burst your bubble, but Boggleheads is a community beset by horrible, unscientific commentary and discussion based on the proper investing principles perfectly explained throughout the book I recommended (The 4 Pillars of Investing).

However, unlike Boggleheads, my book doesn't need a discussion - it jumps right into explaining what you should do and how you should do it and why doing what is explained in the book is correct. The only thing I can solidly agree with in Bogglehgeads is their investment philosphy page, which is misleadingly claiming it's their philosphy. Quite insulting to any self-respecting investment professional to smile at some anonymous wikipedia-like page that tried to rip-off the last 200 years of economic and financial progress and slipped it into its back pocket becasue they could.

Beginners need to be hand-held throughout their personal financial education. They do not need to step into the internet and not be skeptical of an anonymous blog. Stand in front of a professional that will lend you his name to his advice, and then do your homework. Also, nobody needs rancid attitudes such as the one you're sporting.

Finally, you musn't have a good eye for attention to detail. directionseeker asked for a book, not anonymous blogs. I gave him one.

Good day.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mje173 on April 27, 2013, 12:53:21 PM
I just cleared my debt recently and looking to learn more about investing while I accumulate my cash.

Can someone recommends one investment book for beginner?

Also, if you wish to invest your cash while you define a strategy, I recomend you open a Discover savings account. Currently Discover and Barclays are at the top of the high yield savings account game.

While it is true, you are incurring risk in a weak institution (weaker banks offer higher yields on savings accounts becasue other banks wont lend to them), as long as you're under the FDIC insured deposit amount, your money is safe.

Best,
MJE
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Baylor3217 on April 27, 2013, 05:34:13 PM
everbank.com has a 1.25% 6 month offer on their money market up to $50,000 and .76% for every dollar thereafter


I just cleared my debt recently and looking to learn more about investing while I accumulate my cash.

Can someone recommends one investment book for beginner?

Also, if you wish to invest your cash while you define a strategy, I recomend you open a Discover savings account. Currently Discover and Barclays are at the top of the high yield savings account game.

While it is true, you are incurring risk in a weak institution (weaker banks offer higher yields on savings accounts becasue other banks wont lend to them), as long as you're under the FDIC insured deposit amount, your money is safe.

Best,
MJE
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mikefixac on April 27, 2013, 06:30:10 PM
I don't quite get the guy dissing The Boglehead recommendations.

The book he recommends, from the little bit I know of the Bogleheads, thinks highly of the author William Bernstein.

May I also put in my $.02 in highly recommending the Boglehead Forum.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: daymare on April 29, 2013, 09:34:34 AM
Pick up Bernstein's Investor's Manifesto from the library.
(Amazon link: http://www.amazon.com/dp/1118073762)

I have read a ton of books on investing, and this is my favorite.  Super logical, big-picture, straight-forward language.  It's a great overview & reality check, couldn't recommend it more.  I own it & plan to re-read many times throughout my life (and I don't own any other books, really, except a textbook (fits my research interests, I'm a soon-to-be grad student -- http://www.amazon.com/Choices-Values-Frames-Daniel-Kahneman/dp/0521627494) and the Tightwad Gazette (http://www.amazon.com/Complete-Tightwad-Gazette-Amy-Dacyczyn/dp/0375752250), so it means a lot that I was willing to buy the book).

I've spent a lot of time on the Bogleheads forum, and I think that it's great in a lot of ways, but I wouldn't start there.  Frankly, while there's a lot of healthy discussion, there is plenty of incorrect or dubious suggestions.  Basically, enjoy the insights but utilize some discretion.  I'd get an overview on investing from a book first, so you're in a better position to evaluate the Bogleheads' advice.

I'm off to reserve Bernstein's 4 Pillars book at my library -- haven't read it yet, but I expect it to be fantastic.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Done by Forty on April 29, 2013, 10:26:50 AM
Along the lines of the 4 Pillars, The Intelligent Asset Allocator is another good one, though parts of it went over my head.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mje173 on April 29, 2013, 10:55:14 AM
I've spent a lot of time on the Bogleheads forum, and I think that it's great in a lot of ways, but I wouldn't start there.

Truth.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: ElectroStache on April 29, 2013, 12:30:51 PM
I really liked The Motley Fool Investment Guide. Not saying it would work for everyone, that's just how I got my start becoming interested in it all. That led me to the likes of Buffett and Lynch books and a slew of others. Got it at the library, but the Amazon version could be had cheaply as well http://www.amazon.com/The-Motley-Fool-Investment-Guide/dp/0743201736
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Tyler on April 29, 2013, 01:00:58 PM
For a beginner, I recommend Fail-Safe Investing by Harry Browne. It's an easy, non-technical read. Even if you choose not to invest in the Permanent Portfolio, the book contains valuable advice for any investor.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: the fixer on April 29, 2013, 02:04:36 PM
I really like the videos at http://financinglife.org/ This guy has a book too, but I haven't read it so can't comment on that.

I also think the best way to learn investing is to start. It's so easy to sit on the sidelines forever trying to find the right time. Let's assume you accumulate $10k in cash; you know the basics about index funds, risk tolerance, and such; but you're nervous to get started. Just put $3k in a Vanguard index fund (or use ETFs and you can put in less, like $1k) and watch what happens over a few months. You'll see the dividends come in, learn about the taxes, and you might decide to sell (perhaps to buy a different fund/ETF?). With such a small amount of money, and assuming you don't put it all in something risky like a single stock, the most you're likely to truly lose from a mistake is about 20%. That's $200 if you do $1k in ETFs, or $600 in Vanguard funds. Compare that to the guaranteed cost of other forms of education.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Old Yorker on April 30, 2013, 12:55:32 PM
I'd give the Motley Fool book a vote too, it was the one I started with (the UK Investment Guide) and I have never looked back.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: mlipps on April 30, 2013, 02:19:53 PM
I've spent a lot of time on the Bogleheads forum, and I think that it's great in a lot of ways, but I wouldn't start there.

Truth.

I did. It's not a bad place to start at all.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: DavidR on April 30, 2013, 02:36:02 PM
A Random Walk Down Wall Street is far too technical.  The two best books on investing are
The Random Walk Guide to Investing by Malkiel and All About Asset Allocation by Richard Ferri

Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: JamesAt15 on April 30, 2013, 07:34:36 PM
"A Random Walk Down Wall Street" is far too technical? I didn't find it to be so at all. The sections on market buildups and bubbles, castles in the air, tulip speculation, etc, were genuinely entertaining and kept me turning pages. Looking through the table of contents again on my Kindle, he does cover a lot of technical information but I thought the writing was engaging enough it didn't bother me at all.

Great book, IMO.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Airwhale on April 30, 2013, 07:52:24 PM
I haven't read a random walk down wall street... But I don't agree with the hypothosis.  Warren Buffet can put it to words much better than I as to why in this essay:  http://www.tilsonfunds.com/superinvestors.html  .  I believe,  that if you have the correct time, energy, and temperament,  value based investing will beat returns from index funds.  I would counter the recommendation of a random walk with Graham's classic The Intelligent Investor:

http://www.amazon.com/Intelligent-Investor-Definitive-Investing-Practical/dp/0060555661/ref=sr_1_1?s=books&ie=UTF8&qid=1367372998&sr=1-1&keywords=intelligent+investor

Congrats on clearing your debit! 

 
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Fite4Rite2Party on May 07, 2013, 11:26:06 PM
"The Investment Answer" is my recommendation - http://www.nytimes.com/2010/11/27/your-money/27money.html?pagewanted=all&_r=0

This book was written by a terminally ill investment banker who wanted to teach normal investors how to avoid having their returns chipped away at by wall street money managers. After reading this book I spoke with some fee-based financial advisers about how to set up my portfolio, and they all repeated the basic principles described in the book. It's short and written for a lay-person. You can get through it in one weekend. Great book.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: nktokyo on May 08, 2013, 05:21:21 AM
I just cleared my debt recently and looking to learn more about investing while I accumulate my cash.

Can someone recommends one investment book for beginner?

What interests you? Property? Stocks? Having a hand in a business?

If an area of investing sounds like something you could become deeply interested in and have fun growing in then I suggest you start there.

... just don't start with Forex day trading. That can wait until week 6 ;-)
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: directionseeker on June 17, 2013, 07:46:17 PM
I just went over all the posts here. Thanks for all the recommendations. I am interested to learn about investment with not particular area in mind, but stock seems to interest me more.

Actually I am a bit confused now by all the choices here, I guess I will just pick up one of the book here from library to get started.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Happyback on September 15, 2013, 10:30:35 PM
The Average Family's Guide to Financial Freedom.  Bill and Mary Toohey.

I have read many, but find this is a logical, well written, not overly technical book to begin.  It's principles are similar to the ones here.

Mom of Seven Children
(and almost financially free!!!)
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: aj_yooper on September 16, 2013, 03:50:17 AM
"The Investment Answer" is my recommendation - http://www.nytimes.com/2010/11/27/your-money/27money.html?pagewanted=all&_r=0

This book was written by a terminally ill investment banker who wanted to teach normal investors how to avoid having their returns chipped away at by wall street money managers. After reading this book I spoke with some fee-based financial advisers about how to set up my portfolio, and they all repeated the basic principles described in the book. It's short and written for a lay-person. You can get through it in one weekend. Great book.

This sounds like my next read!  Thank you.  http://www.theinvestmentanswerbook.com

The Bogleheads start up kit is where to start:  http://www.bogleheads.org/wiki/Bogleheads®_investing_start-up_kit (http://www.bogleheads.org/wiki/Bogleheads®_investing_start-up_kit)  I think their forum, like ours, would be confusing to someone just starting.  Learn their principles first, then follow the discussion.

I also like all of William Bernstein's books; the Four Pillars of Investing would be my first recommendation with Richard Ferri's [All About Asset Allocation: The Easy Way to Get Started, Second Edition] my second.  The Malkiel Random Walk for Investors is better for investing, IMO.   


[Mod Edit: Link fixed.]
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: RootofGood on September 16, 2013, 07:43:25 AM
"The Bogleheads Guide to Investing" would be an excellent start, as would "Millionaire Teacher."
A lot of the other books in thread (including some of my recommendations) are very heavy reading for someone just starting out.

+1 on the Bogleheads Guide to Investing.  Good breadth of topics.  Personal finance, taxes, investment types like stocks, bonds, etc.  Inflation, asset allocation, rebalancing, investment costs, don't chase performance, insurance.  The writing is very simple, easy to understand.  This is my go to book recommendation for beginning investors who want to know what is an IRA or 401k, why would I participate, give me some hot stock tips. 
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: ioseftavi on September 16, 2013, 08:11:40 AM
I really liked The Motley Fool Investment Guide. Not saying it would work for everyone, that's just how I got my start becoming interested in it all. That led me to the likes of Buffett and Lynch books and a slew of others. Got it at the library, but the Amazon version could be had cheaply as well http://www.amazon.com/The-Motley-Fool-Investment-Guide/dp/0743201736

I'm going to respectfully disagree here.  I read this too when I was starting out and thought it was fascinating.  However, as I became more and more interested in personal finance (and later when I joined the industry), I realized a great deal of what was in the Motley Fool guide was seriously, seriously hazardous to your wealth.  In particular, some of the suggestions they make around portfolio theory (the Dogs of the Dow approach, condensed into a four stock portfolio built PURELY on a limited backtest!) are really not great.  The Motley Fool later admitted that, based on more diligent research, the "Foolish Four" portfolio didn't hold up (http://www.fool.com/ddow/2000/ddow001214.htm).  It's good that they admitted this, but overall I am very unimpressed that they would put out a book with such outside-of-the-norm recommendations without vetting them further.  The fact that they published a book that went so far against the grain of modern portfolio theory without really thoroughly vetting the ideas speaks volumes about the organization at present.  The site is now mostly concerned with selling subscriptions to their premium newsletters and site content - not in educating investors.  It's a shame, because at one point, The Motley Fool used to be a genuinely good resource back in the early days of the site.  It has gone dramatically downhill. 

I would say if you're really looking for a basic investment text, you should look at something boring like The Wall Street Journal's Guide to Money and Investing (http://www.amazon.com/Street-Journal-Guide-Understanding-Investing/dp/0684869020) or Investing for Dummies (http://www.amazon.com/Investing-Dummies-Eric-Tyson/dp/047090545X/ref=sr_1_1?s=books&ie=UTF8&qid=1379340422&sr=1-1&keywords=investing+for+dummies).  These are REALLY BORING, SIMPLE BOOKS.  They center around understanding all the different investment types, what drives investment risk and returns, and the different approaches to building a portfolio of investments.  This is a good place to start.  While I love some of the other resources mentioned (specifically The Intelligent Investor, The Intelligent Asset Allocator, portions of the Bogleheads site), those are all trying to push specific schools of thought and/or they assume you know the basics of the various investment types.

I would recommend first that you learn the language of investments and the ins-and-outs of different asset classes.  You will be better prepared to understand those other books / resources once you get to them, and you'll be able to evaluate them with a more level head.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: fiveoclockshadow on September 16, 2013, 09:18:54 AM
I'll second the recommendation to stay away from Motley Fool.  Awful advice and in general an awful collection of authors and advisers.  They have one good recommendation - save money.  After that it is pretty bad stuff that has been serving their readers badly for years.  It is almost as if they select for behavioral errors and then write to encourage them.

As to the best "starting book" I've come to recommend this:

www.amazon.com/The-Elements-Investing-Lessons-Investor/dp/1118484878/ (http://www.amazon.com/The-Elements-Investing-Lessons-Investor/dp/1118484878/)

The Elements of Investing, same author as Random Walk.  Excellent, condensed, simple guide to the basics.  I plan on giving a copy to my daughter in her teens.  Many other very excellent recommendations in this thread, but for a barebones start I haven't found anything better than this.  Table of Contents previewable on Amazon.

I think a lot of the other books recommended in this thread are also great starting points, especially for someone already willing to put in a little more learning on the first go.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: aj_yooper on September 17, 2013, 05:39:44 PM
Pick up Bernstein's Investor's Manifesto from the library.
(Amazon link: http://www.amazon.com/dp/1118073762)

I have read a ton of books on investing, and this is my favorite.  Super logical, big-picture, straight-forward language.  It's a great overview & reality check, couldn't recommend it more.  I own it & plan to re-read many times throughout my life (and I don't own any other books, really, except a textbook (fits my research interests, I'm a soon-to-be grad student -- http://www.amazon.com/Choices-Values-Frames-Daniel-Kahneman/dp/0521627494) and the Tightwad Gazette (http://www.amazon.com/Complete-Tightwad-Gazette-Amy-Dacyczyn/dp/0375752250), so it means a lot that I was willing to buy the book).

I've spent a lot of time on the Bogleheads forum, and I think that it's great in a lot of ways, but I wouldn't start there.  Frankly, while there's a lot of healthy discussion, there is plenty of incorrect or dubious suggestions.  Basically, enjoy the insights but utilize some discretion.  I'd get an overview on investing from a book first, so you're in a better position to evaluate the Bogleheads' advice.

I'm off to reserve Bernstein's 4 Pillars book at my library -- haven't read it yet, but I expect it to be fantastic.

Four Pillars is awesome!  It is more accessible than his first book.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: lrgibs01 on June 04, 2014, 05:16:52 AM
Four pillars is on kindle sale today for $2.   
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Bbqmustache on June 04, 2014, 05:30:18 AM
Some keys to successful investing are:

start as soon as possible
invest only what you will not need at least in the next five to ten years
Watch your costs carefully (consider index funds, ETFs)
Invest regularly, no matter what the markets are doing (dollar cost averaging)

One brokerage, Schwab lets you open an IRA (not sure about taxable accounts) for as little as $100.00.  And as of this writing, you can purchase low cost Schwab ETFs with NO COMMISSIONs, in as little as one share amounts. 

Look for an investment account that doesn't eat away your returns with fees.  Talk to the people at whatever investment firm you choose; they are in the business and can give you the ins and outs of the investment process, and teach you about the bells and whistles their service offers.  They WILL NOT give you specific investment advice.  That's what you reading will give you.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: MooseOutFront on June 04, 2014, 08:58:08 AM
My recommendation for a beginning "investor" is Bogleheads Guide to Investing.  I would steer clear of the forums until after I read that.  Books 2 and 3 from me would be All About Asset Allocation by Ferri and Swedroe's The only Guide to a Winning Investment Strategy You'll ever need.  Though admittedly I do need to read the 4 pillars book.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: clarkm04 on June 04, 2014, 09:14:04 AM
This one.  It's short and FREE.

If You Can by William Bernstein
https://dl.dropboxusercontent.com/u/29031758/If%20You%20Can.pdf

He has other wonderful recommendations of books to read.

The book is written for a new, young investor but has invaluable advice for any investor and again it's 100% free.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Franklin on June 04, 2014, 09:25:38 AM
All great recommendations, so I will make one that goes toward background.  It is pointless to invest in something you don't understand, so read:   "Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean."  It explains how to read a company's key financial data such as the balance sheet, cash flow, and income statement.  Once you understand how a company makes money you are much more confident in your investing decisions.  Then read "The Essays of Warren Buffett". Good luck.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Dibbels81 on June 04, 2014, 10:00:29 AM
Take a gander at the entertaining discussion from the Boglehead site last year regarding MMM:

http://www.bogleheads.org/forum/viewtopic.php?f=10&t=115414

Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: surfhb on June 04, 2014, 10:36:45 AM
As with any form, Boglehead is not a good place to learn or determine a clear path.   However, thier wiki and investment philosophy is spot on.     It changed how I looked at money, investing and even brought me to this site

Big thumps up for the BH site

Also there are many non MMM on its boards so if you're looking for that, forget it
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: unix_kung_fu on June 04, 2014, 10:49:01 AM
I just went to the library and checked out 'The Little Book of Comon Sense Investing' by John Bogle, I highly recommend it. It's an easy read. It was published right before the 2008 downturn but it is still entirely relevant.

http://en.wikipedia.org/wiki/Little_Book_of_Common_Sense_Investing (http://en.wikipedia.org/wiki/Little_Book_of_Common_Sense_Investing)
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: j-lu on June 04, 2014, 01:28:36 PM
I am also a big "Four Pillars" fan.  There is one chapter (I think it's ch 2 or 3) that was a bit technical.  Otherwise, it's a fairly easy read for the beginning investor.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: ADK_Junkie on June 04, 2014, 03:03:06 PM
THe Most Important Thing - Illuminated by Howard Marks 
http://www.amazon.com/Most-Important-Thing-Illuminated-Thoughtful/dp/0231162847/ref=sr_1_1?s=books&ie=UTF8&qid=1401915576&sr=1-1&keywords=the+most+important+thing (http://www.amazon.com/Most-Important-Thing-Illuminated-Thoughtful/dp/0231162847/ref=sr_1_1?s=books&ie=UTF8&qid=1401915576&sr=1-1&keywords=the+most+important+thing)

Warren Buffet approved!
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: hexdexorex on June 04, 2014, 03:23:52 PM
Chapters are 8 and 20 of The Intelligent Investor are easily understandable and very sage advise.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Trudie on June 05, 2014, 11:25:32 AM
"The Only Investment Guide You'll Ever Need" - Andrew Tobias

It's stood the test of time and also addresses frugality/saving.

Tobias also has a great website and newsletter.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: frugaliknowit on June 05, 2014, 01:17:24 PM
Walter Updegrave - Were Not In Kansas Anymore (2004)
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: SingleMomDebt on July 19, 2014, 10:00:05 AM
The Average Family's Guide to Financial Freedom.  Bill and Mary Toohey.

I have read many, but find this is a logical, well written, not overly technical book to begin.  It's principles are similar to the ones here.

Mom of Seven Children
(and almost financially free!!!)

Just requested from the library. Thank you for the suggestion. I look forward to reading about their experiences.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: jabber on July 20, 2014, 04:26:52 PM
If you have a good appreciation for Bogle/Vanguard and Bernstein, which can be had merely from internet sources and wiki entries, I would recommend Smartest Portfolio by Dan Solin, who relies on Fama and French (nobel laureates) as an accessible 'investing' book.

One needs to know if they are looking to learn about technical aspects of investing (much of which you might take for granted, now, like what are equities, bonds, mutual funds, etfs, etc) or strategic aspects, which I am coming to appreciate more, such as optimizing taxation, asset allocation, portfolio theory and efficient frontier, and safe withdrawal rate, to name a few.

The best recommendation, though, is to keep reading a lot.  You will realize that you are a beginner in a lot more areas than you might think, which opens the door for more improvement and badassity.  That's Mustachian, my friends.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: m^3mmm333 on July 20, 2014, 06:55:32 PM
From someone who works on Wall Street, The Intelligent Investor is a must.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: milesdividendmd on July 20, 2014, 08:53:16 PM
Random walk is great. Bogleheads is fantastic.

Anything by William Bernstein is spectacular. Rick ferri is very good too. My Personal favorite is Larry Swedroe.

For a beginner, this is the book I always recommend.

http://www.amazon.com/gp/aw/d/0071809953?pc_redir=1405438444&robot_redir=1

It is short, Easy-to-read, and it hits all of the most important points in terms of investment philosophy.

If you like that one and want to get into the particulars of asset allocation then Bernstein's "The intelligent asset allocator," and Swedroe's "The only guide to a winning investment strategy you'll  ever need,"both really hit the high points.

For the time being, and until  you develop your own strategy, putting it all in a broad domestic index fund, is fair enough.

Good luck, and have fun.




Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Emg03063 on July 20, 2014, 09:55:25 PM
I don't recommend investing in individual,stocks as a beginner, but if it interests you, this is a good read:  http://www.amazon.com/Beating-Street-Peter-Lynch/dp/0671891634
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: MooseOutFront on July 21, 2014, 12:35:47 PM
Random walk is great. Bogleheads is fantastic.

Anything by William Bernstein is spectacular. Rick ferri is very good too. My Personal favorite is Larry Swedroe.

For a beginner, this is the book I always recommend.

http://www.amazon.com/gp/aw/d/0071809953?pc_redir=1405438444&robot_redir=1

It is short, Easy-to-read, and it hits all of the most important points in terms of investment philosophy.

If you like that one and want to get into the particulars of asset allocation then Bernstein's "The intelligent asset allocator," and Swedroe's "The only guide to a winning investment strategy you'll  ever need,"both really hit the high points.

For the time being, and until  you develop your own strategy, putting it all in a broad domestic index fund, is fair enough.

Good luck, and have fun.
Each of the above mentioned books that I have read I loved, so I added the ones you mention that I haven't read to my list.  Thanks.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: ioseftavi on July 30, 2014, 02:52:42 PM
From someone who works on Wall Street, The Intelligent Investor is a must.

Preach on.  Still the best book on investing in individual stocks ever written. 

Even if you're an indexer, there's a great deal to be said for what Graham had to say on how to approach investing - the idea of being your own worst enemy, and that "investing is at its most intelligent when it is most businesslike".  Wish I could've heard him teach.
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Gracie on September 06, 2014, 05:20:09 PM
For the Uber Newbie: The Coffeehouse Investor and Boglehead's guide to investing

Intermediate: The Investor's Manifesto

Experienced: A Random Walk Down Wall Street and The Four Pillars of Investing

Advanced: The Intelligent Investor, The Intelligent Asset Allocator, the Berkshire-Hathaway report to investors (annual)
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: Adam G on April 10, 2015, 02:59:43 AM
All of the mentioned books are really recommendable.
Additionally, newbies should read "Play Smart in the Stock Market"

http://www.amazon.com/Play-Smart-Stock-Market-investment-ebook/dp/B00UHG8WH0
Title: Re: Can Someone Recommends One Investment Book For Beginner?
Post by: jml2307 on April 10, 2015, 04:35:36 AM
For a great non-technical book with a historical flavor, I remember reading "The Devil Take the Hindmost" by Edward Chancellor. It has been a while since I read it, but it covers the history of investing over the past 400 (+/-) years. You can gain a ton of practical investing knowledge from it while enjoying the read.

On the introductory technical side of things, I enjoyed "Fundamentals of Contemporary Financial Management"  by Moyer, which you can pick up on amazon for a penny. This introduced and covered the (simple) mathematics behind the core principles of finance (in a text book format).

Just my 0.02, hope it helps