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Book recommendations, please

Discussion in 'Investing/Trading/Cryptocurrency/Altcoins' started by Tanya, Apr 11, 2016.

  1. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Hi everyone,

    Chapter 37 of The Millionaire Fastlane talks about the need for financial literacy when managing your money system. For example, knowledge of how a mutual fund works, what bonds are and how they rise and fall, how to calculate return on investment etc. In a nutshell, what do I need to know and understand in order to set up my money system?

    Can anyone recommend and books or websites where a financial newbie might learn such relevant information?

    Many thanks,
    Tanya
     
  2. Rob K.
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    Rob K. New Contributor

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    Tony Robbins 'Money - Master the game' has some good stuff in it.
     
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  3. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Thanks, Rob.

    I should probably mention, I'm based in the UK - not sure if that'll make a difference.
     
  4. jpmartin
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    jpmartin Jedi Master I've Read UNSCRIPTED

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    Check out Ramit Sethis - I will teach you to be rich. Good stuff on creating a system. Other books: http://jpmartin.com/club
     
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  5. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Brilliant - thanks, JP
     
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  6. Fox
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    Fox Moderator Staff Member Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    On a really basic level I like The Richest Man in Babylon. Its not exactly Fastlane but its a good start to learn some really basic concepts.
    Also Rich Dad Poor Dad. Again it has some flaws but they are both quick easy reads to get started.
     
  7. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Thanks, Fox. Yes, Babylon is one of my favourite books, even if they are Slowlane principles.
     
  8. sharkas
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    sharkas Contributor Read Millionaire Fastlane

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    Well Tanya, if you want serious knowledge about that, concerning investing i can recommend you these books (classics of finance ) :

    - The Intelligent Investor, by Benjamin Graham http://www.amazon.com/Intelligent-I...60713744&sr=8-1&keywords=intelligent+investor

    - One up on Wall Street, by Peter Lynch http://www.amazon.com/One-Up-Wall-S...0713793&sr=8-1&keywords=one+up+on+wall+street

    Watch also this video, one hour long, teaching the basics of investing and Finance ( really good ) :

    Hope i helped
     
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  9. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Thanks for that, Sharkas. Books noted ... I'll grab a coffee and watch the video.
     
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    tflfguy Contributor Read Millionaire Fastlane Speedway Pass

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  11. townhaus
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    townhaus Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Not a book, but Khan Academy is a great resource for your needs.

    https://www.khanacademy.org/economics-finance-domain/core-finance

    It's pretty objective, rather than being a book promising to teach you how to invest your way to a comfortable retirement at 7% per year.

    Honestly, theres a lot of crap information out there. This is one of the best.

    P.s

    Definitely learn about bitcoin (also alternative investments: commodities & how hedge funds work).

    This will rarely be mentioned in traditional finance books, or by any financial advisors. Khan Academy gives a good overview of these too.
     
    Last edited: Sep 24, 2016
  12. nradam123
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    nradam123 Silver Contributor Read Millionaire Fastlane Speedway Pass

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    First, watch this video by Ray Dalio (Founder of Bridgewater Investment firm, Net Worth - $15 billion dollar) -



    Then, read the book "Intelligent Investor" by Benjamin Graham (First mentor of Warren Buffet) to get an idea about investing.
    Then, read the book "Reminiscence of a Stock Operator", biography of Jesse Livermore who was a legendary stock trader.

    The idea of reading the books above is to get the mindset to understand money. But its not going to teach you a lot practically.

    Then the thing you should do (Which i am doing now) is to go visit a reputed Business University in your area. Do you have any friends studying there? Go and talk to a few students about the syllabus. Then lend a few books on finance and accounting. These are academic books so it wont be fun to read. But if you have the hunger you will finish it in record speed.

    If there is no university near you maybe you can talk to people online and get an ebook or something. I usually lend books from the previous semester which they plan to throw away anyway.

    Lastly, I do spend sometime with my friends who are are running businesses or investing - and then ask them questions to learn from them. To be honest, this is the best way to learn if you have people around you who know some things more than you.

    Hope it helps. Good luck.
     
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  13. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Brilliant - that's exactly the sort of thing I'm after, thank you
     
  14. jasoncuellar123
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    jasoncuellar123 I’m probably awake. Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    I would suggest 'Buffet: The Making of an American Capitalist'.
     
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  15. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Thanks for the recommendations, nradam. I have read Reminiscences of a Stock Operator. I'll check out your other suggestions.
     
  16. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Thanks, Jason
     
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    Leo Hendrix Bronze Contributor Read Millionaire Fastlane Speedway Pass

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  18. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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  19. tonyf7
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    tonyf7 Bronze Contributor Speedway Pass

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  20. tonyf7
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    tonyf7 Bronze Contributor Speedway Pass

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    Nice find! Had no idea Khan was doing this.
     
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  21. Elif
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    I would suggest 'Buffet: The Making of an American Capitalist'.
     
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  22. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Thanks, Elif
     
  23. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    I'm loving the Khan Academy!
     
  24. mom
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    mom Contributor

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    Darvas - How I Made $2 Million in the Stock Market
    Jesse Livermores are good as well.
    Tharp offers good on psychology of trading.

    Forget all the rest....it's upto you to learn and adapt. Even then you can mess it up or the markets can not perform...

    Market is about 80% whether you succeed or not.
     
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  25. Tanya
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    Tanya New Contributor Read Millionaire Fastlane

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    Cool, thank you
     

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