10k post

[GrandMelon]

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Im a college student as well and am really interested in learning all this good stuff in hopes of managing my own portfolio sometime in the future. What would you recommend I do to get started? Im a finance major and am just starting to take my core finance classes but Id really like to study in my free time and learn as much as possible. Any books/articles/websites you recommend?

Thanks

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[ahnuld]

GM and others,

I recommend checking out the forum I mod, business finance and investing. Read the sticky, we have lists of good started books as well as some threads which answer alot of the newbie questions you may have.

[ahnuld]

my summer reading list was/is:

Warren Buffett way by hagstrom
The Intelligent Investor by graham
Pioneering portfolio Management by swenson
One up on wall street by Lynch
Security analysis by graham
essays of Warren Buffett by buffett
The interpretation of financial statements by graham

but I already have a fundamental understanding in the market, you may need to start with a rondom walk down wallstreet and the four pillars of investing first.

[donkeykong2]

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So I'm a senior at the wharton school and currently interveiwing for analyst jobs with hedge funds and trading jobs with banks so while not an expert i probably have some perspective on finance. I wanted to write something more substantiave but couldn't really come up with how I wanted to word it and don't want to argue too much about finance so I'll just say:

I think everyone in this thread is being a little too optimistic about their ability to beat market rates. You all realize that brilliant men with many years of experience who are paid milions to run hedge funds still don't beat index funds in a large number of cases?

I also don't know how people are using the word "trading" in this thread but to me "trading" means moving in and out of positions quickly and not because you think the stock is a good one but because you think you can buy some of it now and then sell it within the hour for a couple pennies more. If this is what other people mean, then I am going to again say I thnk people are way overestimating their ability to make millions in this field. Yes, there are a lot of similarities in the skill set of a good poker player and trader, but if you are trading for yourself and are up against people with all the resources and knowledge of a large bank you may find it not so easy.

I didn't really say much in this post I guess. I just want to warn everyone that counting on being able to trade or invest your money after poker isn't really a good back up plan in most cases. No offense to ahnuld of course who may very well be able to make enough in poker the next three years to "retire" on getting a few points above market which he may be abe to get.

-mike

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i kind of wanted to say the same thing. i think the market is underrated here [img]/images/graemlins/wink.gif[/img]. it not like poker where you can start at low levels versus donks. ok, maybe it is in some sectors with small firms where it s not worth so much for big companies with sophisticated methods to determine the actual price. i think the quality you have to have to be able to significantly outperform the market is pretty high, also i think you need support and have to cooperate with others obtaining information e.g..

[DonButtons]

I think the only way to beat the market is with insider information of some sort.

Mark cuban said it pretty well, he only buys stocks in which he can buy enough to have a "real voice" in the company, and in which he can make changes, etc.

[SlowHabit]

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I think the only way to beat the market is with insider information of some sort.

Mark cuban said it pretty well, he only buys stocks in which he can buy enough to have a "real voice" in the company, and in which he can make changes, etc.

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I disagree with this.

Buying with "inside information" would have been a big edge back in the old days when "insiders" took forever to report their stocks' position every time they increase or decrease their stake in the company. Nowadays, you know about 3 days [I may be wrong on the exact number] after an insider buy or sells his stock position.

One might argue that by the time we know what the insider does, it might be too late for us to sell/buy profitably. This is false and the explanation is too long for me to type since I have to show various scenarios and explain what each scenario means.

[Ship Ship McGipp]

m arket is zero sum obv

[MatthewRyan]

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I think the only way to beat the market is with insider information of some sort.

Mark cuban said it pretty well, he only buys stocks in which he can buy enough to have a "real voice" in the company, and in which he can make changes, etc.

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I disagree with this.

Buying with "inside information" would have been a big edge back in the old days when "insiders" took forever to report their stocks' position every time they increase or decrease their stake in the company. Nowadays, you know about 3 days [I may be wrong on the exact number] after an insider buy or sells his stock position.

One might argue that by the time we know what the insider does, it might be too late for us to sell/buy profitably. This is false and the explanation is too long for me to type since I have to show various scenarios and explain what each scenario means.

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by insider information he did not mean if the insiders are buying or selling, he meant information as in knowing if the company is going to fail to meet estimates and to sell before the market knows that.

[ArturiusX]

Insider trading is really overhyped in terms of profits you make, too.

[SlowHabit]

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m arket is zero sum obv

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Not so obv if you think about it.