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Where to learn FINANCE? (For a Fastlaner)

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TreyAllDay

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Hey All!

What are some good books/resources to learn finance/investing and economics? There seems to be a lot of resources out there, however I'm unsure if this is another subject the slowlane preachers lie to us about in mainstream books. I want to have a better understanding both for my future investments, as well as to better understand how the markets will affect my fastlane business.

Some more info:
I watched "The Big Short" last night and many of the concepts I generally understood, but were escaping me, especially when they start talking about different classes of bonds, mortgage-backed securities, etc. I have a generally beginner-intermediate understanding of finance, to the extent that any marketing graduate would (some finance + economics classes years ago) and of course what I learned from MJ and other authors in books. However, beyond that, I've realized I don't know very much about finance (in general) and how it relates to the general economy and my fastlane business.
 

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InspireHD

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It depends on which direction you want to take it. Is there something specific you want to learn about?

If you're looking at how the economy works, watch this:


There are some courses you can take at Kahn Academy on Micro and Macro Economics and Finance and Capital Markets.

If you're looking at the stock market and just want to throw your money in and forget it, then learn about index funds. The other alternative is to take your money, put it into a fastlane business that can generate much higher returns, and and then put it into "slowlane" companies that will throw off dividends (MJ's method).

If you want to take some money and take the time to research real companies to invest in them, say, if you want to start your own investment fund, then start with a book called "F Wall Street" by Joe Ponzio. It's probably the best beginner book I have found on investing. I've read it 3 times and recommended it many more. I wish I got some kind of commission for every time I've recommended it. haha I've had good success with investing in individual companies, but the investments are hard to find and can be time consuming.

Too many people will recommend The Intelligent Investor, Security Analysis, and/or A Random Walk Down Wall Street. Skip them for now and read the book I recommended. Then, if you want, The Intelligent Investor with commentary by Jason Zweig is pretty good, but you really only need to start with Chapters 8 and 20, which are based on Mr. Market (Ch. 8) and the Margin of Safety (Ch. 20). The books were written so many years ago that it's hard to relate it back to today's companies and earnings. You can probably find a free pdf online if you just want to read those two chapters.

There are a bazillion books out there. Don't waste your time reading too many thinking you're going to have your "a ha" moment. I have an overflowing bookshelf full of investing books and I still haven't found the one "a ha" moment I was looking for. The best lessons came from doing and investing. If you invest in the right companies, you can make a lot of money.
 

TreyAllDay

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It depends on which direction you want to take it. Is there something specific you want to learn about?

Thank you for the great resources! Going to watch the video this afternoon. I guess I don't have a specific subject I want to learn as I'm such a beginner in this subject, just want to start somewhere.

The book looks great as well! Sounds like a good start
 

InspireHD

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The book looks great as well! Sounds like a good start

I just looked on Amazon and that book is going for $50+. Do not buy it for that much! haha Wow. I bought it back in 2013 and it wasn't nearly that much. If you're okay with the Kindle version then go with that.
 

gretah

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The best book on personal finance is "Making the Most of Your Money Now" by Quinn. It's an encyclopedia of financial terms and tools with lots of great advice thrown in.

You should be able to borrow it for free from your library. It's popular, so it's probably not waiting on the shelf. Ask the librarian to request for you.
 

TreyAllDay

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I just looked on Amazon and that book is going for $50+. Do not buy it for that much! haha Wow. I bought it back in 2013 and it wasn't nearly that much. If you're okay with the Kindle version then go with that.

yup in canada it was neare $85. Going to go for the kindle version lol.

Video is great though. Again, even thought I understand the concepts already, to see how it all relates to the general economy and business was great to see!
 

Tommo

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I just looked on Amazon and that book is going for $50+. Do not buy it for that much! haha Wow. I bought it back in 2013 and it wasn't nearly that much. If you're okay with the Kindle version then go with that.
If you want a copy try bookdepository.com much cheaper.
 

TreyAllDay

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Edmonton, AB
I just looked on Amazon and that book is going for $50+. Do not buy it for that much! haha Wow. I bought it back in 2013 and it wasn't nearly that much. If you're okay with the Kindle version then go with that.

Just an FYI - I got this on amazon. literally couldn't find it anywhere - paid $100 for it but so far this book seems really worth it!
 

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