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12-18-2010, 06:07 PM
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#21
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: Portland
Posts: 2,038
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For me it was, "The Millionaire Next Door".
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12-18-2010, 06:33 PM
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#22
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Posts: 1,934
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Quote:
Originally Posted by kumquat
It let me know that money isn't everything.
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Heresy!
__________________
And if I claim to be a wise man, it surely means that I don't know.
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12-18-2010, 06:36 PM
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#23
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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"A Random Walk Down Wall Street" by Malkiel
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12-18-2010, 06:47 PM
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#24
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 5,596
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Ric Edelman "The Truth About Money". Not a perfect book or financial philosophy by any means, but it got me thinking about how to take control of our finances and our future. The first step on a long path….
__________________
I purr therefore I am.
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12-18-2010, 07:47 PM
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#25
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2009
Posts: 5,307
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I was going to say The Only Investment You'll Ever Need by Andrew Tobias as it did influence my opinions. Alas, it didn't actually result in any behavior change....
For something that had actual practical significance I think I have to pick The Millionaire Next Door.
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12-18-2010, 08:01 PM
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#26
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Recycles dryer sheets
Join Date: Jul 2010
Posts: 58
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Freakonomics
Two things it did, helped spark an interest in economics and made me see that things should be looked at from all angles
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12-18-2010, 08:20 PM
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#27
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Administrator
Join Date: Apr 2006
Posts: 22,973
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The Retirement Myth by Craig Karpel. Written in 1995, this book, more than any other, brought home the reality that I would need to work hard and plan carefully to secure my own retirement and that it would be folly to rely on social security for that purpose. He explained in clear language, and with memorable imagery, the fundamental demographic problems we face. I date my substantial saving and investment efforts to the day I read the last page of this book.
__________________
Living an analog life in the Digital Age.
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12-18-2010, 08:34 PM
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#28
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,769
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OK, OK, I'm not sure who said this but I believe it, I really do.
Winning isn't everything, IT'S THE ONLY THING.
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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12-18-2010, 08:34 PM
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#29
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Recycles dryer sheets
Join Date: May 2006
Posts: 144
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Quote:
Originally Posted by TromboneAl
Venita Van Caspel's Money Dynamics for the 1980s book.
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I agree. Venita's book changed my thinking about financial independence. It was the catalyst for FIRE for us.
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12-18-2010, 08:41 PM
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#30
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Thinks s/he gets paid by the post
Join Date: Jul 2009
Posts: 1,934
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Most of these books I haven't read, and many I haven't even heard of. These are not the results I was expecting. I was expecting all answers to fall within the range of five or six well-known books. Very interesting, and gives me lots of new ideas for reading.
__________________
And if I claim to be a wise man, it surely means that I don't know.
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12-18-2010, 08:45 PM
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#31
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Recycles dryer sheets
Join Date: Apr 2010
Location: Silicon Valley
Posts: 226
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Rich Dad, Poor Dad... I know that this is flawed as an investment text, but it did change my view on life. Prior to reading we were two professionals w three kids a reasonable mortgage and a small rental property so we were doing OK. However, at the time of reading I thought it perfectly described us as well educated and "smart" in our professional lives, but not very smart when it came to building wealth.
It was the beginning of a long (10 year) and continuing education and it did help me to be even more open to opportunities (so far mostly real estate) other than W-2 income.
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12-18-2010, 08:58 PM
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#32
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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In my case it was an event and not a book . I was 32 recently divorced with two children and that made me realize I had to figure out the future . After that revelation I read every book I could on the subject including ( don't laugh) Suze Orman .
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12-18-2010, 09:09 PM
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#33
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Moderator Emeritus
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
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Revolutionary Road by Richard Yates because the one person who understands your plans to escape Big Blue literally lives in the loony bin but for him numbers is easy.
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12-19-2010, 03:32 AM
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#34
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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I have read so many financial books that I don't really remember.
I read a book about low cost Vanguard mutual funds and John Bogle about 20 years ago... that put me on to the low cost indexing approach. I can't remember the name of it.
I read a lot of books on fundamental and technical analysis. In the end, I was not very disciplined at keeping up with that level of detail... hence, the use of mutual funds.
I can remember one book that I read very early before I had much understanding about stocks. It's get rich quick title caught my eye. Although it is nothing of the sort. If you read it, you might chuckle... it is not "The Intelligent Investor". But it's content was profound to me at the time.
It is about the stock market (not real estate). This guy came up with a method to building a portfolio and rebalancing it based on a formula (a form of asset allocation to mitigate risk). It has been so long, I do not remember all of the details. But he had back tested examples. The first edition was written in the 70's... I read it in the late 80's... probably the 2nd edition.
How to Make $1,000,000 in the Stock Market Automatically
Amazon.com: How to Make $1,000,000 in the Stock Market Automatically: (4th Edition) (9780451204417): Robert Lichello: Books
His method has some followers. I am sure there are critics.
Lichello A.I.M. - Risk Management Home Page -
How did it help me... at the time it made an impression on me. Once I read it... I struck me that there appears to be a relatively manageable way to make a lot of money over time and "I could do it". It motivated me to learn more about stocks and the stock market.
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12-19-2010, 06:27 AM
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#35
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Thinks s/he gets paid by the post
Join Date: Sep 2009
Location: Hong Kong
Posts: 1,688
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The Zurich Axioms by Max Gunther
While flawed in many respects, it really made me understand the importance of taking risks with my investments.
Lots of others of course, but this was one of the earliest ones.
__________________
Budgeting is a skill practised by people who are bad at politics.
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12-19-2010, 07:42 AM
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#36
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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Quote:
Originally Posted by independent
"a random walk down wall street" by malkiel
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+1
dd
__________________
At 54% of FIRE target
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How I turned $1,000 into 1 million investing in RE
12-19-2010, 08:28 AM
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#37
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Thinks s/he gets paid by the post
Join Date: Dec 2010
Location: Midwest
Posts: 1,789
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How I turned $1,000 into 1 million investing in RE
Bill Nickerson's classic book "How I turned $1,000 into 1 million (later 3 then 5 million) investing in real estate part time. I originally read this after losing my home in the recession of 79/80. I was encouraged to start anew, smarter with the knowledge of this book. My wife and I bought a home 6 weeks later, our first investment house 3 years later, and I was so excited I eventually became a Real Estate Broker. My wife and I own numerous rental homes and (once) an out of state resort home, all because of this book. Dated, yes, but the information is still relevant. Out of print, but available on ebay and Amazon. I found one recently at Goodwill for $2. Don't pay over $10.
Also a great follow-up. The millionaire real estate investor by Gary Keller
(of Keller Williams real estate). Real life case histories of dozens of real estate investors. (I know, that is 2 books..........but...). btb
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12-19-2010, 08:39 AM
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#38
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2008
Location: No fixed abode
Posts: 8,764
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For me it was How To Retire Rich by James O'Shaughnessy. It was the first financial book I ever read, and it introduced me to the concept of FIRE (not his term), and also made me realize that I like this financial stuff. I had never really thought about it before.
__________________
"Good judgment comes from experience. Experience comes from bad judgement." - Anonymous (not Will Rogers or Sam Clemens)
DW and I - FIREd at 50 (7/06), living off assets
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12-19-2010, 09:05 AM
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#39
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,204
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Can't be done. So I'll say The Four Pillars of Investing A Random Walk Down Wall Street The Intelligent Investor The Only Investment Guide You'll Ever Need The Millionaire Next Door Your Money or Your Life Work Less, Live More How to Retire Happy Wild & Free The Bogleheads Guide to Investing Free to Choose.
In no particular order except the first...if you insist.
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 50% equity funds / 45% bonds / 5% cash
Target WR: Approx 1.5% Approx 20% SI (secure income, SS only)
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12-19-2010, 10:13 AM
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#40
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Can I add one? Way back when, over 20 years ago, I didn't own any equities, I read the 7th edition of a classic called How to Buy Stocks, by Louis Engel and Brendan Boyd. It was first published in 1953 and when I bought the 1982 Bantam edition had already had over 6 million copies printed. Basic, but got me interested.
How do I know all these details? It's still on my bookshelf.
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