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Best Investment Books?, Suggest your favorite investment books
ross46
post Posted: Feb 16 2013, 11:35 PM
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Jim Rogers' latest book Street Smarts is a really great read. Lots of wisdom from a wonderful life.

 
nipper
post Posted: Feb 4 2013, 12:18 PM
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In Reply To: nipper's post @ Sep 24 2012, 09:59 PM

will try again

Books I Read in 2012, by Rudi Filapek-Vandyck, Editor FNArena

1.) Currency Trading for Dummies. Brian Dolan. Forex.com. 327 pages.

This book is in essence a self-help guide for aspiring traders, placed inside the context of global currency markets. Basic introductions about what makes FX crosses move up and down flow into themes such as "Developing a trading plan" and "Ten habits of successful currency traders". Author Dolan has two decades of market experience under his belt and the book presents itself as "your plain-English guide to currency trading". That's exactly what it is.

2.) Bulls, Bears & a Croupier who stopped gambling and made millions. Matthew Kidman. Wiley. 376 pages

Ever wondered how professional stock pickers view the share market? This book shares many an insight, including career mistakes Kidman made when on the job for Wilson Asset Management. Concrete examples make for a lively, recognisable context against the background of pre- and post-2007 experiences. Kidman writes a regular stockpickers column for Fairfax newspapers nowadays. One of the themes in his book is that individual investors can do better than the professionals given less restrictions, red tape and regulatory requirements. In my humble opinion, this is one of the better investment books around, if only because it talks "Australian stocks" against a very recognisable and knowledgeable background.

3.) Get Rich with Dividends: A proven system for earning double-digit returns. Marc Lichtenfeld. Agora. 200 pages.

I read a handful books on dividend strategies this past year and Marc Lichtenfeld's is probably the best and most practical one. Lichtenfeld is Associate Investment Director at the Oxford Club and leads a day-to-day investment fund that lives and dies by his dividend oriented investment strategies. This book largely confirms my own analyses and calculations from recent years. Nevertheless, it's good to have support from a professional at hand. Not for get-rich-quick trading oriented market participants, but if you are willing to let time do all the necessary work for your own financial benefit, Lichtenfeld's 10-11-12 system will prove a sure winner for you.

4.) The Quest: Energy, Security, and the Remaking of the Modern World. Daniel Yergin. Penguin Press. Circa 800 pages.

I don't even know where to start to describe the wealth in knowledge this book offers. Whether it be oil, electric cars or natural gas, you will become a mini-expert by simply reading this truly magnificent effort. Pulitzer Prize winning Yergin (for previous book The Prize) has an incredible eye for detail and facts and has managed to embed the emergence of China and India in this modern encyclopaedia for all matters energy. Recommended reading for lovers of modern history as well as for anyone who's interested in energy, but in particular crude oil.

5.) The Little Book of Behavioral Investing: How not to be your own worst enemy. James Montier. John Wiley and sons.129 pages.

James Montier once upon a time sat next to Albert Edwards at Societe Generale and both predicted the S&P500 was heading for 666. That was shortly after the share market peak in late 2007. Nowadays, Montier is part of the team at Canada's GMO that studies financial bubbles. You probably would have noticed: there are quite a few bubbles around, here and there. This book, on behavioral biases in all of us, is a very entertaining read. It's about bad choices and bad habits and how they destroy your investment returns. And not just yours. A must read for anyone with only the slightest interest in investing. Must have good sense of humor.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time."
- Dr John Hussman

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nipper
post Posted: Sep 24 2012, 09:59 PM
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just finished Geoff Hiscock's new book, Earth Wars: The Battle for Global Resources, published by John Wiley & Sons, May 2012.

there is an extract in the Australian (Hiscock is a senior editor there:) http://www.theaustralian.com.au/business/m...f-1226373625804 .
QUOTE
Decline of West not inevitable in resources battle

If you listen to the global miners, they have absolutely no doubt that China is and will remain the defining market for energy and resources, and they make their 10, 20 and 100-year business plans accordingly. Some of the miners liken China's position now to North America's in the late 19th century, when the great surge of development began that took the United States to global pre-eminence for 100 years or more.

The demand and development momentum, the miners argue, has irrevocably moved from West to East, and the world must get used to that. North American entrepreneur Robert Friedland, the founder of Ivanhoe Mines and one of the intriguing and controversial characters of modern-day mining, goes further. In his view, Africa will be the next frontier of greatest promise, after China, India, Indonesia and resource-rich countries like Kazakhstan and Mongolia have provided the impetus for many millions of new middle-class consumers to emerge.

But equally there are plenty of economic forecasters who see no inevitability about the rise of China and the decline of the West.

Being the mother of all markets or having access to the fantastic resource potential of a Congo, Mozambique, Zambia or Liberia is not the same as being an Earth Wars winner. There are matters of technology, logistics, markets, skills and funds to resolve, plus the ever-present risk of cultural conflict, social breakdown and natural catastrophe. Institutional, legal and financial reforms within China are moribund.
The chapters are full of fact on major mining projects, and has a good geopolitical overlay; it is a good read - although amazing how much has changed in the last few weeks - just reading this while the iron ore price was falling out of bed induced some sort of schadenfreude.

A vastly different book on similar themes, but all 'warm and fuzzy' with much less data, was The Growth Map: Economic Opportunity in the BRICs and Beyond by Jim O'Neill 2011.



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time."
- Dr John Hussman

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triage
post Posted: May 19 2012, 06:23 PM
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My currrent reading struggle is "Why Nations Fail" which is an investment / economics book of sorts for those who work from the "big pitcher" on down.

I've read a few efforts with similar goals to this one, including the work of Jared Diamond and more recently "Why the West Rules ... for now" by Ian Morris (who prescribes a "maps not chaps" theory of why some civilisations have done well and others not so much).

It has become apparent even to me that the authors of Why Nations Fail took a very narrow blinkered view of things, perhaps to make their arguments and conclusions appear stronger (?). For one, they ignored or dismissed the effects of access to energy - in that it was those civilisations that could harness the most energy that were able to develop the most. Also there seems little recognition in the book that changing weather and climate patterns were extremely influential on whether various civilisations could prosper or struggle.

Anyway Jared Diamond has put out a fairly detailed review of "Why Nations Fail". He gives it at best a qualifed thumbs-up.

http://www.nybooks.com/articles/archives/2...or-poor/?page=1

If you are in any way interested in this subject Tyler Cowen, of the blogsite Marginal Revolution, has undertaken to air any response to the Diamond review from the authors of Why Nations Fail, Daren Acemoglu and James Robinson.

http://marginalrevolution.com/marginalrevo...tions-fail.html



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"The market can stay irrational longer than you can stay solvent." John Maynard Keynes

"The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought." Rudiger Dornbush

"It is the mark of an educated mind to be able to entertain a thought without accepting it." Aristotle
 
Elliott
post Posted: Mar 29 2012, 06:13 PM
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In Reply To: Elliott's post @ Mar 22 2012, 05:28 AM

I am sure you'll learn plenty from the book Carsha.

I hope you get even more from the service which I'm sure you will. Any queries you have don't hesitate to contact him. He is more than happy to discuss and answer any questions you may have.



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My posts are for discussion and educational value only. They are not to be construed as advice in any way.
 
Carsha
post Posted: Mar 29 2012, 03:43 PM
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In Reply To: Elliott's post @ Mar 22 2012, 05:28 AM

Just received my copy of Unholy Grail
Looking forward to a good read when time allows.
Planning on reading the book then signing up to Nicks service
to watch how he puts the strategy into action.

CS

 


Elliott
post Posted: Mar 22 2012, 05:28 AM
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In Reply To: Carsha's post @ Mar 21 2012, 06:08 PM

Hi Carsha,


If you want a little more info on performance you can go here http://www.nickradge.com/index.php?option=...3&Itemid=20.

I am involved in his service and know Nick personally. He doesn't bullshit and everything is transparent and upfront.

It's also worth mentioning that I do not benefit in any way for reviewing his book. I reviewed it purely because I thought it hit the spot in regard to how to be profitable in the markets. And it's a very easy read with nothing left to interpretation which is important.



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My posts are for discussion and educational value only. They are not to be construed as advice in any way.
 
wren
post Posted: Mar 21 2012, 06:45 PM
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In Reply To: Carsha's post @ Mar 21 2012, 06:08 PM

Hi Carsha,
Nick is a straight shooter with a long history.Unsure how experienced you are as a trader however subscribing to Nick's site for 6months or more is money well spent if you wish to learn some aspects of T.A. It takes time to arrive at a method which suites ones trading/risk profile.Nick has figures to prove his methods however drawdowns are higher than I can personally tolerate.Basically,take your pick between higher drawdowns and higher profits and lower drawdowns and lower profits.This is on a trade by trade basis.
Risk management is more important than any of the above.There is heaps of good free stuff on this subject on this forum and elsewhere.

 
Carsha
post Posted: Mar 21 2012, 06:08 PM
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I see Nick Radge has just released a new book called Unholy Grails.
The description reads..

Nick Radge personally trades a momentum strategy that has strongly outpaced the market over the years.
Now it's your turn to learn why momentum investing is such a powerful tool and how you can implement it with ease.

Thinking of ordering a copy. has anyone on the forum had experience with Nick or his books.

Just scrolled down and seen the review on Unholy Grails........Thanks to Elliott for the review.

CS

 
wren
post Posted: Mar 21 2012, 05:30 PM
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In Reply To: nipper's post @ Mar 21 2012, 04:36 PM

Thanks nipper.
Wonderful review.If I was in charge of the world(!!) this sort of reading would be required at school.What we actually have is all manner of feel good B/S some of which is carefully reconstructed history and similar.Critical thinking seems to have passed its use by date.God (if she exists),help us.

 
 


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