Good Books On Investing ?

T

trajan

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I did something very foolish lately.
I bought Bogle's Common Sense Investing.
Such rubbish. Badly written - ambiguous phrasing, no definitions of several concepts let alone how to estimate them. A mash of Dale Carnegie big shot quotes backing up a relentless drum-roll for his own funds. Infantile models of investment portfolio planning.

Can anyone suggest better for someone who has no macroeconomics background but okay on microeconomics and handy enough at spreadsheets, math models and coding ?
 
Lol. One of the most influential investment books ever.

You’re gonna love a random walk down Wall Street Burton Malkiel
 
Rory gillens book " three steps to investing success", I haven't read it myself but it has good reviews and is written from an Irish perspective which is rare enough as most are written for Americans or UK perspective.
 
Thanks, Marc.
Yet looking through Malkiel's bio, it seems that his path never strayed too far from Bogle's.
More academic for sure - but not much use to the older investor looking for a serious booster shot to their portfolio.
 
Ok then try winning the losers game by Charlie Ellis

what you’ll find is that all these books will consistently tell you that what I think you’re trying to do can’t be done

How to Win the Loser's Game: Full Version

A full-length documentary, How to Win the Loser's Game provides ordinary investors with the information they need, and challenges the investing industry to offer consumers a fairer deal.
sensibleinvesting.tv

Marc Westlake
Chartered Certified and European Financial Planner
www.globalwealth.ie
 
Rory Gillen's book " three steps to investing success", I haven't read it myself but it has good reviews and is written from an Irish perspective which is rare enough as most are written for Americans or UK perspective.

I had a glance through this book's Kindle edition on Amazon.
Lucidly written and mostly reasonable.
But figures a bit wrong for intro example of €250 a month investment over 5 years @ 8% APR.
He makes it €19,008 and my spreadsheet makes it €18,353.
Maybe worth a look although it does tend to stress long-term sitting on a portfolio.

@Marc:
I do not challenge what you say in relation to large plcs on stock markets.
But I was more hopeful of growth within the AIM type markets and maybe unlisted anywhere companies.

@ Other posters: Thanks for books. Will run though them online or in bookshop.

Hope all get fine sunny weather this weekend.
 
Au contraire, sir.
Doing it monthly seems the only way to do it if the deposits are made.
But you have to use the monthly period rate doing it this way.
Screenshot from 2021-06-04 16-34-30.png
 
Rory took the simpler way and just added the investment return annually - in any case, the exact mechanics are not that important as the returns are never as steady as that in real life and perhaps, he felt his target market would not be familiar with monthly compounding calculations
1​
3000.00​
240.00​
3240.00​
2​
6240.00​
499.20​
6739.20​
3​
9739.20​
779.14​
10518.34​
4​
13518.34​
1081.47​
14599.80​
5​
17599.80​
1407.98​
19007.79​
At the end of the day, it's the strategy followed that's important
 
Edward Qian’s Risk Parity Fundamentals is a bit more on the academic side but very readable. Lot of stuff on how you might not be as diversified as you think you are and the mistakes people make on how closely correlated their investments are.

I also like A Simple path to wealth by JL Collins but it’s basic a book version of the blog telling you to buy index funds.
 
https://www.amazon.co.uk/Risk-Parity-Fundamentals-Edward-Qian-ebook/dp/B01BM7XVQO/ref=sr_1_1?dchild=1&keywords=Risk+Parity+Fundamentals&qid=1622890594&sr=8-1&asin=B01BM7XVQO&revisionId=&format=4&depth=1
This looks thorough numerically.
The fact that the first edition is sold out and used print copies are fetching $80 speaks for itself.
 
SDMXTWO said:
The book was referred to me and I have yet to do a follow up. Can you give any reasons why it is so bad?
Click to expand...

hes the kind of " guru " who tell people if they shop in Aldi for everything and drive a Dacia , they will eventually become millionaires , a collection of bogus parables posing as investment wisdom , their is no real credible investment advice in the thing
 
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