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Book Recommendations for Financial Literacy?

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G3ric

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What are some of the best books out there to get financially literate?.
 

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Martzee

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What are some of the best books out there to get financially literate?.
That is a very broad question to answer. Are you looking for budgeting, saving, investing, trading, accounting, economy, personal finance...?

You can start with the "dummies" series, if you want, for example: "Managing Your Money All-in-One For Dummies" or "Personal Finance in Your 20s and 30s for Dummies". Some basic books on investing "The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns, 10th Anniversary"... etc., as you keep reading you will be finding more and more resources and get into more sophisticated books detailing whatever you are interested in.
 

VicFountain

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I started learning finance on my own. Currently reading "How Finance Works" by Mihir Desai.
Does anyone know any good, renowned book on finance/corporate finance that explains from scratch everything there is to know?
 

Raoul Duke

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That's funny dude. Just wanna let you know it's 2021

 

Kak

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Investopedia is a great free resource.

For finance, in general, I think I would want to take some kind of course. Try the big online course things.

Coursera and Udemy.

You can also kind of learn it from osmosis by watching CNBC for a year... but then you'll risk being a permanent bull on everything ever too.
 

Kevin88660

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I started learning finance on my own. Currently reading "How Finance Works" by Mihir Desai.
Does anyone know any good, renowned book on finance/corporate finance that explains from scratch everything there is to know?
Many years back there are youtube videos made by khan academy and mbabullshits.

Not sure if there are still there.

Classical Finance revolve around two concepts

1) Time value of money. A dollar today is worth more than a dollar tomorrow, because in theory it can get me interest. This forms the basis on how to value investment based on future discounted cash flows.

2) There is no free lunch. High return comes from higher risk. You cannot outsmart the market significantly by picking investment because if there is, someone will have done it and diluted the expected return. Hence you have capm model and efficient market hypothesis.


More fashionable modern finance theory focus on things that have not been covered.

1) Behavioral Bias, for example people have loss aversion.

2) Institutional Framework- how existing accounting rules and framework affect our actions. You can google on financial crisis and liquidity crisis.
 

G3ric

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That is a very broad question to answer. Are you looking for budgeting, saving, investing, trading, accounting, economy, personal finance...?

You can start with the "dummies" series, if you want, for example: "Managing Your Money All-in-One For Dummies" or "Personal Finance in Your 20s and 30s for Dummies". Some basic books on investing "The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns, 10th Anniversary"... etc., as you keep reading you will be finding more and more resources and get into more sophisticated books detailing whatever you are interested in.
Thanks for the recommendations, I’ll definitely look into them
 

ZF Lee

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I started learning finance on my own. Currently reading "How Finance Works" by Mihir Desai.
Does anyone know any good, renowned book on finance/corporate finance that explains from scratch everything there is to know?
Anything by Ray Dalio.

Agora Finance's regular emails (they send you multiple emails though...George Gilder, Money & Crisis, Daily Reckoning...and they somehow keep talking about buying gold these days lol).

The emails will have you look at everything, from treasury bills, to money-printing (and some coverage of why COVID testing and data is out of whack), weaknesses in fiscal policy, Keynesian vs Austrian, economic indicators (eg using food price indices to spot for inflation)...you will learn lots reading from them although they do sell their products in the emails.

For a quick rundown of finance and investing as taught by William Ackman
View: https://www.youtube.com/watch?v=WEDIj9JBTC8


You can also go to Seeking Alpha to check on commentaries of stock, macro or others.
Take everything with a pinch of salt though...sometimes the finance articles there are out of whack.
I don't have particular favourite authors on SA though...I just read whatever catches my fancy.

I've found that its better to read finance stuff on a daily basis, since finance is always moving and growing.
A book won't 100% cut it.
 

MJ DeMarco

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There were two threads on this subject which are now merged.
 

mon_fi

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For courses, look at EDX. They are free (most of them) and from top world universities.
 

Tom H.

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Financial Intelligence For Entrepreneurs, I linked to it here:


Also, the book Accounting Made Simple is pretty good for basics like double-entry, GAAP, and standard financial statements.
 

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