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Old 07-13-2005, 06:51 PM
DWarrior DWarrior is offline
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Join Date: Mar 2005
Posts: 85
Default A few books I have, what\'s next?

A few months ago, I picked up a few books on stocks and investing in general that I intended to read. Being a poor student, I'm obviously not going to be trading anything except playmoney for a while, but I think it's best to start learning now, instead of taking the route of gambling with like $100, which won't teach me anything about intelligent investing, and will just be a waste of time, as I doubt any portfolio management skills can be gained from throwing $100 at a share of stock and paying $7 in commission with it.

My reading list includes:
* Use The News, Maria Bartiromo (finished)
* Millionaire Next Door, Stanley/Danko (finished)
* One Up on Wall Street, Peter Lynch (finished)

* The Interpretation of Financial Statements, Ben Graham
* Intelligent Investor, Ben Graham
* Security Analysis, Graham and Dodd
* 9 Steps to Financial Freedom, Suze Orman
* How to be a Billionaire, Fridson
* Common Stocks and Uncommon Profits, Fisher
* Financial Shenanigans 2nd ED, Schilit
* Essays of Warren Buffett: Lessons for Corporate America, Warren Buffett

I started off by reading a few Trump books, but they were mainly inspirational stories rather than any realistic strategies. I then read Rich Dad Poor Dad, which was also thin, but gave me a brief introduction. After reading John T. Reed's long page review of Kiyosaki's book, I realized that I should treat his books merely as inspirational writing, not anything technical. From Reed's essay, I gathered that Kiyosaki's books were just all the other books I have on the list smacked in one and without any of the numbers, kind of like the beginner poker books that just give you advice without really showing you why it is, as opposed to, say, Sklansky's books, that give some mathematical basis.

I read Use The News by Maria Bartiromo, and later found out that the book didn't get great reviews from the public, but the info that was in her book served as a good refresher of the concepts I learned in high school (Financial ratios, etc.)

Next, I read The Millionaire Next Door, and it gave me a more realistic view of what it takes to acquire capital.

Finally, I had just finished One Up On Wall Street, which I thought was very interesting. Lynch's approach seems more old-fashioned, as he totally dismisses trading futures and options and investing in trends (without an edge), which is probably sound advice for people who are clueless.

My next question is, how hard is Security Analysis to read? Should I leave this book for last, or dive into it right away? It is considered one of the fundamental books, yet I'm not sure if starting with the fundamentals is always correct.

In what order are these books best read? (I'm talking more about the investing books, as I'm sure "9 steps to financial freedom" doesn't require much technical knowledge). I'm guessing Essays of Warren Buffett should be left for the very last, as I did with Poker Essays of Malmuth, because it seems like he'd write more "situational" examples, as opposed to fundamental concepts.

EDIT: I'm also under no illusions. I realize that there's probably no +EV way to get rich quick int he market, and these readings are intended to be applied years and years from now, but I think it's best to at least get exposure now, so I can re-read them a decade or so from now and already know most of the information.
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