Financial / Investment Book Addict

[Nords]

I can't say that I was any where near as avid with my study/reading/listening as you but I spent a lot of time with it the past few years. However, I got tired of it absorbing all my free time along with the fear that I might MISS SOMETHING! I became more of a Bogglehead and, just recently, paid a fee only advisor to provide me with an asset allocation plan which turned out to be very conservative (we're nearing retirement). Most of what she was recommending were index funds so I would have been pretty close on my own but I don't have to bear the total responsibility now of how things play out. I would rather do other things with my life but am very interested in making sure we can afford the rest of our lives! If that's how you like spending your days, ENJOY and best of luck!

I understand the pain of keeping up with being an active investor, and I trade less every year.

But one of the benefits of the knowledge gained by reading books on the principles (not the CNBC "latest news") is the confidence to stick with an asset allocation plan through recessions. It's not exactly a talisman, but it gives me a distraction when my itchy trigger finger is hovering over the "Buy" or "Sell" buttons.

I said we interpreted it differently. Yes, I have only a few posts. So tell me, when does the paranoia kick in? 1000?

Nah, usually it kicks in after the hundredth time that a newbie tells you how it's gonna be... like walking into a church service or the library reading room and shouting "Listen up!"

I could be wrong. Naniamo could be the greatest thing for this board since Dory started it. But 99 predecessors (who are no longer with us) have tended to make me skeptical that this is "the one". Especially when one of their vast wells of wisdom is CNBC.

Most people see a discussion board as a research asset, not an audience.

 

[MBAustin]

I thought the Four Pillars of Investing was the most valuable book I ever read, and fortunately it made financial life a lot simpler for me. ...

Bought it recently based on recommendations here on the board and have it on the "to read" pile...maybe I'll move it up a notch.

 

[ERD50]

... just recently, paid a fee only advisor to provide me with an asset allocation plan which turned out to be very conservative (we're nearing retirement). Most of what she was recommending were index funds so I would have been pretty close on my own but I don't have to bear the total responsibility now of how things play out. I would rather do other things with my life but am very interested in making sure we can afford the rest of our lives! If that's how you like spending your days, ENJOY and best of luck!

You sure do have to 'bear the total responsibility now of how things play out', it's your money and your decision. Who is bearing this responsibility for you? The advisor? Really? And how is the advisor going to fulfill this responsibility? By covering any losses you may have relative to the market? Nah.

As the old saw goes, "Not to decide is to decide". By not deciding on an AA and a balance of index funds, you left it to an advisor. But you had to decide to choose the advisor. Who says you chose well? Oh, she bought the funds you would have bought? OK, so buy 'em and save the advisor fee. Though, if this was fee only, and a one time deal, not such a big deal, dollar-wise, I guess.


Similar thoughts going on in another thread...

http://www.early-retirement.org/for...t-advice-for-small-fry-56376.html#post1076954


-ERD50

 

[Gatordoc50]

I understand the pain of keeping up with being an active investor, and I trade less every year.

But one of the benefits of the knowledge gained by reading books on the principles (not the CNBC "latest news") is the confidence to stick with an asset allocation plan through recessions. It's not exactly a talisman, but it gives me a distraction when my itchy trigger finger is hovering over the "Buy" or "Sell" buttons.

Nah, usually it kicks in after the hundredth time that a newbie tells you how it's gonna be... like walking into a church service or the library reading room and shouting "Listen up!"

I could be wrong. Naniamo could be the greatest thing for this board since Dory started it. But 99 predecessors (who are no longer with us) have tended to make me skeptical that this is "the one". Especially when one of their vast wells of wisdom is CNBC.

Most people see a discussion board as a research asset, not an audience.

I understand your view. It just doesn't bother me if someone feels they have unique knowledge to share. A few years ago some of the so called brightest minds in finance went before Congress and one by one told how they independently arrived at the same business model that brought our country to it's knees. Common, educated knowledge isn't always right.

 

[DblDoc]

Did anyone bring popcorn?

DD

 

[Nords]

Did anyone bring popcorn?

I'm pretty sure Porky is loading up the truck as we speak...

 

[naniamo]

I have read all the post's,should of realized this was not a good forum to start exclaiming knowledge of the investing world.You guys are definitely "in the know".Because a summary of many many years of investing books and practice would reveale that asset allocation is more important that selecting individual stocks.o we are all ion agreement.However,I have this Marcretocracy account with basicalliy monopoly money in last time I checked 60% of my indivual stock were not in the positive,I set this up in 2008 and made a few buys and sells over the years.There was one stock that really sent my account to the stratosphere and that was just a mere selection from Motley Fool or Investors can't remember ,It was Herbal Life,Up 150% but for some reason I had around 1200 share of that puppy in there.I probably wouldn't have bought it with my real acount money since I'm a value investor at heart and it probably had a higher PE.Kind of like Apple did ,that one was in my Markretocracy account but I must of got it late because I only logged 46%.I know it;s all Fake and I can hear you guys now what a waste of time,but just like Fishing or anything else you get better with practice.Or maybe you just stop catching and by fish at the store or buy an index fund since low and behold 60% of my picks were underwater after 3 years.But thanks all for your comment I think we are all on the same page,well i may be on chapter one yet.

 

[naniamo]

I understand the pain of keeping up with being an active investor, and I trade less every year.

But one of the benefits of the knowledge gained by reading books on the principles (not the CNBC "latest news") is the confidence to stick with an asset allocation plan through recessions. It's not exactly a talisman, but it gives me a distraction when my itchy trigger finger is hovering over the "Buy" or "Sell" buttons.


Nah, usually it kicks in after the hundredth time that a newbie tells you how it's gonna be... like walking into a church service or the library reading room and shouting "Listen up!"

I could be wrong. Naniamo could be the greatest thing for this board since Dory started it. But 99 predecessors (who are no longer with us) have tended to make me skeptical that this is "the one". Especially when one of their vast wells of wisdom is CNBC.

Most people see a discussion board as a research asset, not an audience.

Did not see this bus coming,I work 40 hrs a week and still commute.My goal is to be like you guys early enough so I can still get out on the water to fish.Not really meaning to say hey let me teach you, more of, hey,there is a common thread here and I can appreciate what you pulled off.I'm sure we are all in agreement that the more we got working for us to keep or get us there the better.

 

[Gatordoc50]

I have read all the post's,should of realized this was not a good forum to start exclaiming knowledge of the investing world.You guys are definitely "in the know".Because a summary of many many years of investing books and practice would reveale that asset allocation is more important that selecting individual stocks.o we are all ion agreement.However,I have this Marcretocracy account with basicalliy monopoly money in last time I checked 60% of my indivual stock were not in the positive,I set this up in 2008 and made a few buys and sells over the years.There was one stock that really sent my account to the stratosphere and that was just a mere selection from Motley Fool or Investors can't remember ,It was Herbal Life,Up 150% but for some reason I had around 1200 share of that puppy in there.I probably wouldn't have bought it with my real acount money since I'm a value investor at heart and it probably had a higher PE.Kind of like Apple did ,that one was in my Markretocracy account but I must of got it late because I only logged 46%.I know it;s all Fake and I can hear you guys now what a waste of time,but just like Fishing or anything else you get better with practice.Or maybe you just stop catching and by fish at the store or buy an index fund since low and behold 60% of my picks were underwater after 3 years.But thanks all for your comment I think we are all on the same page,well i may be on chapter one yet.

The last chapter is the same as the first. We can read every book, attend every seminar, but what's the market going to do tomorrow, or the next 1, 5, 20 years. I haven't a clue. To add insult to injury, we are all market timers.

 

[haha]

To add insult to injury, we are all market timers.

IMO, that's a good thing. In our modern Greenspan/Bernanke era, valuations get pushed around a lot. If you sell, you likely have to pay tax, and that is an important consideration, but better than being reset to start or below start every few years.

Ha