- Best investing booksI own a small library of investing books. Right now I have 13 books on the table. Some days ago I ordered 6 new books from Amazon. So in total, I have 19 investing books. I […]
- How to build a stock portfolio tracker into Excel?Excel is one of the best places to keep track of your investment portfolio. Yes, there are some cool applications or platforms where you can see even more information than Excel. However, if you are granted […]
- Investing tips: How to beat 90% of investors?History has shown that 80-95% of investors usually lose money. Thus I want to teach you how to avoid losing money. In my first year, I was down over € 100 what was over 20% of […]
I own a small library of investing books. Right now I have 13 books on the table. Some days ago I ordered 6 new books from Amazon. So in total, I have 19 investing books. I have not read all of them, but I want to finish them by the end of this year. But in this post, I want to introduce some books that I have already read and some books that I know will help you and me a lot.
The first book I want to introduce is Benjamin Graham – “The Intelligent Investor”. I think all investors have heard about it and if not then what investor do you even are. This was the third book I started to read. But as a beginner, I did not understand this book very well, and I fall asleep after every five pages. So I do not recommend it for you to start reading it first and even after a few months of investing, this book is still hard to read. I read it this summer, almost three years later, and right now I wish I had read it earlier. There is so much information, what I should have known before these investments that are now at the loss. When to read it? It depends on you if you are very disciplined then this book has to be your first book. But if you are like me – who wants to study and read, but has no discipline then this should not be your first book.
The second book is for traders. This book helps you to understand what some well-known indicators mean. I read it when I started to invest in the stock market and I made my second stock trade. I used technical analysis for it and made over 20% profit before taxes – I was so dumb that I did not know that I have to pay commission when I buy and when I sell. Overall I earned some pennies and a big lesson in that investing world. This book is called “The New Trading for a Living: Psychology, Discipline, Trading Tools and Systems, Risk Control, Trade Management” written by Alexander Elder.
“Reading is a discount ticket to everywhere.”
– Mary Schmich
The third one is for Long-Term Investors those who really make money on the stock market. (Yes, there are many good traders, but we all know that many lose their money when they start with day trading.) This book helps you to understand why to invest long-term and why to choose the stock market for this. This book helps you to choose your strategy and this book will make you rich in LONG-TERM. The book I talk about is called “Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies” written by Jeremy Siegel.
The fourth one is a biography book which is called “The Snowball: Warren Buffett and the Business of Life” written by Alice Schroeder. This book has over 900 pages and but all this time you put into it – it is worth every second. When I first got this book I thought I will never end this book ( even though I have shortened version where are 800 pages. But this motivates me so much and I wanted to read so I read it within 2 weeks. One day I read 100 pages which is for me a really big number. Usually, I try to read 25 pages a day and even this is hard for me. But from this book, you learn how to think when you want to be one of the richest men in the world. I don’t remember who said it but it is true – “When you want to be successful then you have to be a different person” And this book is proof of that. You have to have really good discipline and you have to start thinking different.
There is one investment book that I have read twice. This is a short book on financial statements. In this book, you’ll find out how Warren Buffett can choose the right companies and make himself rich. The good news is that if you want, you can read this book in a few hours. The title of this book is “Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage” – Mary Buffett and David Clark. I would give this book 4 out of five because yes, there is very good information and examples. If you don’t know what something means, you can check it from the back. But I would like to see more tables, more examples, different sectors ratios, and so on.
Now I want to tell you which books you should read, but I haven’t read them. As I said, I intend to do so by the end of 2021. How do I know these books are good? Since I have read the reviews and received a book recommendation from the books above.
“The more that you read, the more things you will know. The more that you learn, the more places you’ll go.”Dr. Seuss