These 5 great, easy-to-read money books will change the way you think about INVESTMENT
Maybe you’ve automatically transferred your pay cut to your retirement account. Whether you’re getting into crypto or buying a stock meme or two at Robinhood…
But a tweet, an article from a Google search or an Instagram screenshot of a stock chart are not enough to make you a good investor; You have to go deeper. And going deeper means reading!
There are many good books out there about investing or personal finance. But not all are suitable for novice investors.
There are 4 books that I recommend for new investors to read about investing and 1 book to read to better understand personal finance. Everything is very easy to read.
1. “The Little Book of Common Sense Investments”
Author: John Bogle
Translated: “Little book about method joint investment”
Most of the media and Wall Street cite Warren Buffett as the most influential investor of the last century. But as Buffett’s aura and performance waned, the wealth of index fund pioneer John Bogle and founder of Vanguard (now managing more than $7 trillion), has surpassed it. . Even Buffett admits that Bogle’s creativity has surpassed his own: he recommends investing in an index fund and instructing his heirs to put 90% of his money into it.
This concise volume distills and condenses Bogle’s decades of investment wisdom into over 200 pages. It seems to encapsulate the essence of this investment giant’s philosophy: buy the most diverse index funds, keep costs to a minimum, and let the double magic of your investment settle in. and compound interest does the rest.
2. “Win the Game of Losers”
Author: Charles D. Ellis
“Win the game you lose”
The eighth edition of the investing classic, first published in 1985, comes out in early 2021.
This book is a starting guide for anyone looking to make lasting gains in the stock market, and has been called the great Peter Drucker “the best book on investment policy and management.”
Charles Ellis, who has been named “Wall Street’s Wiseest Man” by Money magazine (he serves on Vanguard’s board of directors and co-chairs Yale’s investment committee with David Swensen’s great past), will show investors how the stock market really is. work over the last three decades and what individuals can do to ensure they are winners in the long run.
Applying insights gleaned from half a century of consulting with many of the world’s top investment managers and securities firms, Ellis explains how individual investors can avoid common pitfalls and be on the road to investment success.
3. “The Popular Delusions of the Great and the Madness of the Crowds”
Author: Charles Mackay
“The Illusion of Great Fame and the Madness of the Crowds”
“Mania, Panic and Distraction”
Author: Charles P. Kindleberger
“Frazy, panicked, crushed”
Together these two investing classics recount some of the greatest madnesses in modern market history from Tulipmania to the Southern Ocean Bubble (which nearly destroyed one of history’s great minds), the history of mankind, Sir Isaac Newton) to the stock market crash of 1929 and beyond.
If Mackay’s book is history, Kindleberger, a former professor at MIT, is more analytical, but even so, both books are still fairly easy to read.
First published in 1841, “The Unbelievably Popular Delusions and Madness of the Crowds” is often considered the best book ever written on market psychology. The historical details in this book confirm that greed and fear have always been the driving forces of financial markets. And for the modern investor, when the next stock market bubble hits (which it will), you should remember the plight of some of the unfortunate people in this book and avoid letting themselves fall into their twilight.
“Manias, Panics and Crashes” is a compelling and entertaining depiction of how poor credit and money management led to a financial boom over the centuries. Covering topics such as the history and anatomy of crises, speculative maniacs, and lenders, this book depicts a volatile worldview of finance.
4. “The Psychology of Money”
Author: Morgan Housel
Vietnamese title: “The psychology of money”
If I wanted to read a book on personal finance, I would recommend “The Psychology of Money” by Morgan Housel. Rather than bored, this book is a pleasure to read. Housel, a columnist for The Motley Fool, offers many of his new insights and says how you think about money is just as important as what you do with it.
He also said that luck is a key factor in everyone’s success, the biggest market movement events are always unpredictable and financial planning goals must be survival. “The ability to hold out over the long term without being crushed or forced to give up is what makes the biggest difference,” he wrote.
Housel says that starting early is important, and if you’re a new investor, these books are a great place to start.
By Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
