NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
I am sure I do not read as many books on investing as many of you here, but want to share the ones that I enjoyed.
It is difficult to say which book was most important to me, because I learned something from each of them, even if the authors have different philosophies.
One of the first books I read was by Tobias. I do not remember if he described a cookbook approach to investing like some others, but the messages that I got loud and clear were to be frugal and to be very, very suspicious of getting-rich-quick schemes. I later read Malkiel's Random Walk in 1999, and it partially saved me from getting ruined by the 2000 tech stock meltdown.
Only after coming to this forum that I learned about Bernstein's books. I then remembered that this MD turned investor guru was "discovered' by Bob Parker back in the late 90s, when the latter was a columnist of Business Week. I only recently borrowed Bernstein's books from the library to read, but then I already knew of his investment principles from other sources.
I just pulled my copy of How to Buy Stocks off the shelf to look. Yes, mine is also the 7th edition.
One of the books I picked up by chance from a used bookstore is The Battle for Investment Survival by Gerald Loeb (1899-1974). Loeb was a founding partner of the former E.F. Hutton brokerage house. Remember the TV ad "When E.F. Hutton talks, people listen"?
The Battle for Investment Survival was first published in 1935, then updated through many editions. Mine was 1965, and I think the latest one was 1971.
Loeb's investing style was that of a trader, and in a way his thinking was somewhat like Nassim Taleb's, the author of the Black Swan books. Loeb said it would be far better to stay safe, and to wait to buy stocks only when they were dirt cheap. He said that if one was patient, over a long time, he could have a decent overall return, yet committed or risked only a small portion of his stash. If I remember correctly, he also warned that when buying dividend-paying stocks, one should be aware of the hazard of dying companies. He liked to buy stocks cheap, and to rely on capital gain. Nowadays, that's dirty market timing and a big no no!
I guess Loeb's book fell out of fashion because he did not offer a mechanical method to invest. He simply said that it was tough, and more like an art which one had to practice to master it.
Of course, I don't invest exactly the way Loeb described, but I like his book nevertheless. I greatly enjoyed the philosophical musings of a man who had lived through the Great Depression himself.
Nearly every woman intimidates me! I amaze myself that I even had the audacity to marry one.
It is difficult to say which book was most important to me, because I learned something from each of them, even if the authors have different philosophies.
One of the first books I read was by Tobias. I do not remember if he described a cookbook approach to investing like some others, but the messages that I got loud and clear were to be frugal and to be very, very suspicious of getting-rich-quick schemes. I later read Malkiel's Random Walk in 1999, and it partially saved me from getting ruined by the 2000 tech stock meltdown.
Only after coming to this forum that I learned about Bernstein's books. I then remembered that this MD turned investor guru was "discovered' by Bob Parker back in the late 90s, when the latter was a columnist of Business Week. I only recently borrowed Bernstein's books from the library to read, but then I already knew of his investment principles from other sources.
I just pulled my copy of How to Buy Stocks off the shelf to look. Yes, mine is also the 7th edition.
One of the books I picked up by chance from a used bookstore is The Battle for Investment Survival by Gerald Loeb (1899-1974). Loeb was a founding partner of the former E.F. Hutton brokerage house. Remember the TV ad "When E.F. Hutton talks, people listen"?
The Battle for Investment Survival was first published in 1935, then updated through many editions. Mine was 1965, and I think the latest one was 1971.
Loeb's investing style was that of a trader, and in a way his thinking was somewhat like Nassim Taleb's, the author of the Black Swan books. Loeb said it would be far better to stay safe, and to wait to buy stocks only when they were dirt cheap. He said that if one was patient, over a long time, he could have a decent overall return, yet committed or risked only a small portion of his stash. If I remember correctly, he also warned that when buying dividend-paying stocks, one should be aware of the hazard of dying companies. He liked to buy stocks cheap, and to rely on capital gain. Nowadays, that's dirty market timing and a big no no!
I guess Loeb's book fell out of fashion because he did not offer a mechanical method to invest. He simply said that it was tough, and more like an art which one had to practice to master it.
Of course, I don't invest exactly the way Loeb described, but I like his book nevertheless. I greatly enjoyed the philosophical musings of a man who had lived through the Great Depression himself.
I'm 5'4" and I have discovered that I am considered quite intimidating to a lot of people.
I am woman, hear me roar!
Nearly every woman intimidates me! I amaze myself that I even had the audacity to marry one.
