This video looks at some of the best-selling books on money, personal finance, business and investing and I discuss how reading them has changed my mind on how I think about money, investing, and life. Can some of the lessons from the world’s best investors also make us rich? Are the best-selling books actually the best books to read? Let’s go find out and I’ll tell you everything I’ve learned.
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Rich Dad Poor Dad –
The Psychology of Money –
How to Own The World –
Money a Users Guide –
Meaningful Money – Handbook
Richer Wiser Happier –
The Intelligent Investor –
Little Book On Common Sense Investing –
One Up On Wall Street –
Just Keep Buying –
Shoe Dog – Nike Story
Netflix – it will Never Work –
Basic Economics – Sowell –
The Changing World Order –
Principles – Ray Dalio –
Random Walk Down Wall Street –
You Can Be a Stock Market Genius –
Mastering the Market Cycle –
Trillions –
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I think most of your viewers would have been looking for a magic bullet … well done for staying honest. So much is down to talent & ability frankly, although you can skew the odds in your favour by doing the simple things well.
"The millionaire next door" is a good one. Try it.
Thank you so much
@11:55 to 12:06 Hint hint is important.
Any books for Investment in Canada?
I have the Dalio book. From Connecticut they are the richest in our state. Met wife plenty times Barbara
could you name all 40 books you read?
I really saw the potential of the stock market by reading Berkshire's annual letters. I recently sold my $674k apartment in the Bel Air area and I'm hoping to throw it into the stock market. I just don't want to lose everything.
That rich dad guy is a joke. Once you actually learn about balance sheets, economics (how Fed influences the markets), cyclical markets, mindful of gov policies (energy policy that was passed is an example), avid at keeping up with what is hot right now, can do technical analysis (market trends, reversals, key supports, resistance, use an Market Almanac , have a long term portfolio and a swing/day trading portfolio separately you’ll be just fine. Reading books is okay but applying what you learned can help you find out what actually helped and what is BS.
The Psychology of Money is probably one of the best books I’ve ever read
I’ve been investing for 4 years and here are my rules. I’m currently up 122% YTD
1. Only invest in stocks you truly believe in. That way if the stock drops by 30% you won’t panic sell you’ll actually buy more. I was down 80% on coinbase a year ago and I’m up 100% today because I believed in the company.
2. Have a longterm mentality with realistic targets. I’m currently at £66k and really pushing to get to £100k then next stop will be £150k and so on until you reach critical mass. The whole purpose is to use these investments to live off and have a comfortable life 10-20 years from now, not 2 weeks time.
3. Only invest what you can afford to lose and dont need. The money then becomes less real and it almost seems like a practice account.
4. Study stoicism and how to prevent emotions taking over. I’ve discovered investing is 40% emotion, 30% choosing right stocks and 30% patience. I read a book called Lessons in stoicism and that will help you just as much as any book written on finance.
5. Embrace the volatility. As your investments rise and fall it can feel daunting but I view it as training like a muscle. I earn a modest wage so my portfolio can drop 2 months wages in a day sometimes and rise 2 months wages on others.
Survivorship bias. Do an internet search on "Buffett and the SP500" or "Buffett and the Million Dollar Bet". Indexes are the way to go if you don't want to create a 2nd job out of the stock market. If you enjoy trading and investing by all means, be the individual stock picker or even learn how to trade. I enjoy trading and investing, but I still stick to Indexes because over the last 5 years I paid a HEAVY price listening to a service I thought knew what they were talking about. If I would have simply stuck to Indexes, my retirement account would have had double the returns. NEVER again will I bet on an individual company unless they do multiple things (e.g. BRK.B which has done really well for me)
thanx a lot for the list.
I want to ask, do u recommend
Basic economics : a common sense guide to the economy
40 books is like 40 courses. 40 courses is like a 4 year university degree! 😮
A book I never see reviewed but I thoughly enjoyed was "How to get Rich" by Felix Dennis. He's passed away now but was one of the UK's wealthiest publishers. worth around £800m. It's a bit no nonsense and doesn't sugar coat it but also an enjoyable read. Worth checking out if you're looking for something different.
Best advice:
"Do not save what is left after spending. Spend what is left after saving" – Warren Buffet.
good vid
Years ago I invested my savings in S&P 500 index funds because at the end of the day I am, as a retail investor, too busy and not educated enough to pick individual stocks. I follow the John Bogel school of thought: invest in index funds through a low-load broker (like Vanguard) and let it ride.
Only 3 books
1) JOYS of compounding by Gautam baid
2) Richer wiser happier by William green
3) The most important thing by Howard Marks
Next video, start with £1 and end up with……………
As soon as I heard 'big commission cheques in sales' I went straight to your linkedin 😂 some good companies under your belt 👌
The intelligent investor is such a stupid outdated book.
guyssss I think I found a book that we are all looking for, I think it contains all the secrets and habits of businessmen who do not want to share it with us, The book I found on the payhip, it is called WEALTH ALCHEMY: TRANSFORM YOUR LIFE, UNLOCK PROSPERITY, after reading I changed my perspectives and habits a lot, I would just like to say thank God for this book, I'm sure it will affect you the same way it has affected me.
Basically, "no body knows if the stock is going up, down, or sideways…" still holds true.
Thnx for the video! I agree that, the more you learn about investing, the more you realize that you need to minimize your risk by tracking the whole market and let it run (compound) rather to take risk and stockpick. However, what most people forget to learn is the basics of money and how the monetary system works. This is essential to have the full picture. The book I recommend everyone to read is: Broken Money by Lyn Alden. Enjoy!
I’ve done graduate studies in finance, completed CFP education, applied everything learned into investing. Never, not once, have I beaten the S&P 500 nor the total US market index ETF. One exception was being a true (legal) insider in a business that went public over 20 years ago. This however doesn’t count because I was at the right place at the right time for that. I’ve been in broad market ETF’s with dividend reinvestment for over 15 years and sleep well..
This Video is so great. I'm not very good at English so I don't really understand 100% this video.
And …….I have read the book Rich Dad Poor Dad. Can anyone give me a roadmap for reading financial books?
—- Beginner Level ( get more confident but in reality still dump )
4:17 – The psychology of money
6:23 – The simple path to well
—- Beginner Level (UK Books)
6:59 – The meaningful of money handbook
7:25 – Money: A User’s Guide (book look like ATM Cards)
+++++
—- Medium Level ( terminology )
9:33 – The intelligent investor (must read)
9:58 – One up on wall street
— High Level
15:57 – Mastering the cycle – howard marks
You can be stock market Genius
— Bonus Level
13:13 – A random walk down wall street
13:42 – The little book of common sense investing
++++
13:58 – Outtro
3:40 : I read the book and agree with you. This book is not so good as it shows. To be honest there is way much better books than this.
1:40 I really dont know why this book keeps getting recommended, after reading it I just came across thinking this guy is a fraudster
Hi! I kinda stuck to blue chip stuff over a decade ago… boring, I know but whenever there's dividends, I reinvest. I'm in my 40s now and I'm thinking of my retirement at 70.
I did break a rule once: never invest in supermarkets and airlines. Too risky, little return. When Tesco went down, I emptied my savings into them.. why? Because they are practically an institution that simply needed a course correct. What happened? Stock sunk upon fraud investigation. Then new CEO dynamic Dave gets put in charge. Gets their new COO off his holiday to start work early. A year later profits! I sold my shares and then dumped them into more blue chip. Arcelor-Mittal, Microsoft, Apple, British American Tobacco. More dividends, more reinvestment.
Good times. 👍
If you need to keep it safe you know where to put it next
VOO, Qqq and Schd. Buy and forget.
The story about the Janitor should not be celebrated because what I understood in that story is "Those who hav "Janitorish" mindset will remain Janitor for life time even though they have millions"…..
Thanks for sharing!