Re: Poker Books
 

On the investing discussion, I'm going to throw my lot in with the just diversify crowd. Poker and investing are a lot like each other in that there are a few people at the top that take money from everyone else who cares to compete. When it comes to investing, odds that you're going to win after variance has been taken into account are very slim.

I work for the largest hedge fund in the world, and my personal money is all passively invested in a diversified mix of different asset classes. I tell all my friends to do the same thing.

Re: Poker Books
 

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Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! - Robert T. Kiyosaki; Paperback

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Uh oh.

Re: Poker Books
 

i read somewhere that real poker 2 was just like real poker 1 with a few additions or something along those lines... is that not true? i liked the second one, i'd get the first one too if it was actually different.

Re: Poker Books
 

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i read somewhere that real poker 2 was just like real poker 1 with a few additions or something along those lines... is that not true? i liked the second one, i'd get the first one too if it was actually different.

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This has been discussed in the books forum. The first book was a collection of Cooke's essays on various topics. The second book is just to supposed to be about play of hands, so it includes all of the play of hands essays from the first book, which is a lot of overlap. The second book (plus the forthcoming third book, etc.) are pretty much meant to replace the original book which is why it is out of print and hard to find. Where/ how did you intend to get a copy? I've tried before with no success.

Re: Poker Books
 

thanks. i was assuming i could get it off amazon, but it looks like i couldn't get it even if i wanted to.

Re: Poker Books
 

bobbyi can you recommend then a good financial planning style book. I've just heard that despite rich dad poor dads small amount of real information it is well presented and teaches essential ideas for someone who probably just sucks at these things generally.

Re: Poker Books
 

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bobbyi can you recommend then a good financial planning style book.

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Sorry, I don't know much about this stuff. I'm just starting to try to figure it out myself as I now for the first time actually have money to invest; until six months ago, I was just pouring all my money into paying off my car and oodles of student loans.

Re: Poker Books
 

First, I'd definitely recommend just putting your money in various index funds. Individual stocks are no place for individual investors, as a general rule.

If you're still interested in playing around in the market, the one book I'd recommend (even over Graham's) is Expectations Investing by Rappaport and Mauboussin. You'll need some finance background to soak it up, but you shouldn't be wading into investing in individual stocks without finance knowledge anyways. Expectations Investing will help you get away from all the p/e-type crap and look at how and why stocks are valued the way they are.

EDIT: As far as Yao's book, I thought it was only OK. Lots of people (HUSHers especially, obviously) say that the best part of the book is the SH section, but I didn't really find that much that I haven't read here.

Re: Poker Books
 

For investment advice I recommend you look at:

The Coffehouse Investor by Bill Schultheis, and

Wealth Without Worry by James N. Whiddon

Re: Poker Books
 

An excellent book which will teach you an awful lot about individual stock selection is "How to Make Money in Stocks" by William J. O'Neill, the founder of "Investors Business Daily" newspaper. Much of the conventional wisdom regarding stock selection is incorrect and this book does a good job of clearing up some of the misconceptions at least to an extent. If you are interested in trading, I recommend the three "Market Wizards" books by Jack Schwager which are interviews from the world's greatest traders.

I have been an investment professional (stock broker/commodities broker/investment advisor/insurance agent/etc.) for my entire career and I have studied the financial markets extensively for the last 15 years. Any of you can PM me anytime for all the free investment/financial advice you want.

Cartman