#1
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Reading List II
fortunes formula by poundstone (sp?)
everything you need to know about investment theory of the +EV kelly/shannon crowd vs economic free market/market "efficiency theory |
#2
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Re: Beginner...
A Random Walk Down Wall Street/Malkiel This was the best finance book I read when I was an undergrad finance major. It is a must. |
#3
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Re: Beginner...
[ QUOTE ]
fortunes formula by poundstone (sp?) everything you need to know about investment theory of the +EV kelly/shannon crowd vs economic free market/market "efficiency theory [/ QUOTE ] are you kidding me? this book was an ok quick read but almost entirely superficial |
#4
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Re: Beginner...
[ QUOTE ]
A Random Walk Down Wall Street/Malkiel This was the best finance book I read when I was an undergrad finance major. It is a must. [/ QUOTE ] i feel so sorry for your finance department. |
#5
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Re: Beginner...
No one's suggesting The Intelligent Investor by Ben Graham anymore?
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#6
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Re: Beginner...
These are for trader-oriented players, not investors per se:
THE CROWD Gustav LeBon The semi-ancient foundational classic on the Mass Mind. HOW I MADE 2 MILLION IN THE STOCK MARKET Nicolas Darvas Classic lessons on trend-trading breakouts, plus many other valuable insights. He's lucky he did not get caught putting it all on "red". SUPERPERFORMANCE STOCKS Richard Love (out of Print) The classic mentioned by Mark Minervini in his STOCK MARKET WIZARDS interview MARKET WIZARDS NEW MARKET WIZARDS STOCK MARKET WIZARDS Jack Schwager Absolute "must" reading. HOW TO TRADE IN STOCKS Richard Smitten (Jesse Livermore) Offers a specific set of methods for trend followers. Obvious mistakes in several places but a classic nonetheless. REMINISCENCES OF A STOCK OPERATOR Edwin LeFevre (Livermore) The trend following classic TRADING IN THE ZONE THE DISCIPLINED TRADER Mark Douglas Psychology for traders from an individual who went completely bankrupt and came all the way back. These are classics that belong in every trader library. INTERMARKET ANALYSIS John Murphy A recent book with many useful insights about intermarket correlation. TECHNICAL ANALYSIS OF THE FINANCIAL MARKETS John Murphy Classic reference work on TA. Up to date. INATTENTIONAL BLINDNESS Arien Mack There is no perception without attention. Learn it cheap here, or learn it the hard way. Either way you need to get this concept. Highly applicable to poker also. LINKS Get a grip on Behavioral Finance before you get in too deep with trading. The markets are made efficient by traders. Trading requires an "unnatural" set of responses to price events. Learn the common emotion-driven mistakes, and avoid them like the plague. Then learn to take advantage of these repeating patterns of the crowd. Disposition Effect http://disposition-effect.behaviouralfinance.net/ Sell your winners and keep your losers. Way to go !! Illusion of Control http://illusion-of-control.behaviouralfinance.net/ "The illusion of control is the tendency for human beings to believe they can control or at least influence outcomes which they clearly cannot." Go ahead-- tell the market what to do. Prospect Theory http://prospect-theory.behaviouralfinance.net/ You have profits. Why gamble?? Herding and Lead-Following Crowd Behavior. http://herding-crowd.behaviouralfinance.net/ Everyone wants validation. Especially when making a financial decision. Stand apart. This one is tricky to execute on. Contagion http://contagions.behaviouralfinance.net/ Buy the fear, sell the greed. Easy to explain. Harder to do. Let's rewind to 1987 and buy stocks after the crash. And hold them. Robert Shiller The DEAN of Behavioral Finance. The shaman of financial psychology. The link below is typical of his work. See also IRRATIONAL EXUBERANCE, by Robert Shiller. Human Behavior and the Efficiency of the Financial System http://mental-compartments.behaviour...et/Shill98.pdf |
#7
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Re: Beginner...
[ QUOTE ]
[ QUOTE ] fortunes formula by poundstone (sp?) everything you need to know about investment theory of the +EV kelly/shannon crowd vs economic free market/market "efficiency theory [/ QUOTE ] are you kidding me? this book was an ok quick read but almost entirely superficial [/ QUOTE ] If you are reading it from a student of finance's perspective and the other books you read are textbooks, then yes, it will seem superficial and not that great. But for a poker player without a serious investing background I think it is is excellent. |
#8
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Re: Beginner...
Any recommended books more on the "Personal Finance" and "Other Investments" front?
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#9
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Re: Beginner...
A few Personal Finance suggestions...
The Automatic Millionaire by David Bach Rich Dad Poor Dad by Kiyosaki The Millionaire Next Door by Stanley & Danko The Truth about Money by Ric Edelman |
#10
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Re: Beginner...
did you happen to see and or read the reply in this thread immediately after mine?
youre probably confused about this matter, fortunes formunla shows us that the "Is the market efficient?" debate is settled, theoretically WON yet some people still think its open to debate, and they are the dead money in the market, the fish if you will i have concern for your financial future, do you see why? |
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