Does anyone know any good books or websites to learn about investing/saving? Mostly interested in learning about trading on the share market.
Thanks
Learning about Investing. Any Good Books, Sources or Recommendations?
indium on 20/04/2016 - 11:51
Comments
Thanks! Will check out money magazine.
Not looking to make a living off it, just maybe like what you said between $20k to $50k and maybe a low risk low reward option that would make my money grow faster than having it in a high interest account like ING. I'm still a young student with 2 years left of UNI, living at home and making around 25k p/y atm so am able to save a lot of it.
I basically have no knowledge of the financial world although have $20k invested in shares atm (which I've only broken even on after 1.5 years). Just looking to gain some knowledge so I can make some sort of financial plan for the future. Everyone at my work just says 'buy property', but I'd like to actually know how everything works.
What mskeggs said is an excellent start. In fact, +1 mskeggs comments in general when it comes to financial matters.
The only things we'd probably add would be:
* Check out the investing section in Moneysmart.gov.au - it's a government resource so it doesn't have the sales spin that presents a real minefield for new investors.
* Check out the investment schemes section of Scamwatch. As mskeggs said, there are lot of disingenuous operators offering systems of little value at high cost.
* If you're looking for advice on saving/money management in general, MoneyMinded is an excellent resource and was designed to be taught in a not for profit setting by charities and schools.Hope this helps.
The Intelligent Investor by Benjamin Graham - it's a really interesting read.
Thankyou :)
Get you gain a lot of knowledge from this book. It's about value trading isn't it?
Expand your network.
Insider 'talking' isn't illegal ;)
Except it explicitly is. Perhaps you mean it is hard to convict insider traders.
Yeah pretty much
Though I wouldn't do it in Aus, the US I might entertain the thought.
This podcast seems like it might be relevant for some of the basics. It's an older hedge fund manager (buffet style), who is teaching his daughter (practising lawyer in her 20's i think) about investing, her having no prior knowledge on the topic, despite her father being in such a position.
http://www.ruleoneinvesting.com/podcast/
There's a ton great blogs and forums out there, depending on how in depth you want to go.
I would suggest, as others have, that trading won't work for you, and should really be avoided until you have a lot of knowledge, and many years experience in the markets. Ideally through multiple market cycles, which means you're looking at a decade atleast
Wow this is great, thankyou :)
Read Money magazine each month to get the latest info in a plain english format. Available free at the library!
Consider what you hope to achieve from trading on the market, and how you anticipate this will happen.
For example, if you want to make a living from trading without a high risk of losing your shirt, you probably need to start with $1m.
If you are looking for an alternative to putting $20k of savings in the bank and you want to beat the bank return, it is a different strategy.
Read A Random Walk Down Wall St to dispel any ideas you might have that technical trading 'works' as anything except a weak signal showing what some other traders might do.