What is a Good Book on learning Stock Market business?
February 8th, 2010
like the whole: Day trading, commodities, Stock market, wall street.
I don’t even know what some of that means.
I want to learn everything! all the terminology’s all the different ways to generate money in that field. Everything, I want to read all about it on a website or In a book. I want to read everything, than figure if any of that is interesting to me.
I am an aspiring entrepreneur age 22, male CA
thank you very much!
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If you’re a rookie in investing or stocks, go to
http://www.finance.yahoo.com.
Open up a portfolio without using real money. You can give yourself as much or as little money to try out the market. The stocks you want to focus on is consumer staples, consumer discretionary, and healthcare. These are DEFENSIVE stocks that will survive through good and bad times. Most of my positions are in these stocks. Some names include 3M, Procter & Gamble, Kimberly Clark, Exxon Mobil, Walmart, Costco. Everybody’s got to eat and wipe their butts regardless of the state of economy. Many of these companies survived through the Great Depression.
That’s the benefits. You can sleep at night knowing your money is doing well. There are NO guarantees that you won’t lose money. It’s just that these stocks are the best. They pay good dividends too.
Then once you’re comfortable and test the waters of the market, you can finally put some real money in. Go to Scottrade.com. They’re excellent for beginners.
If you’re new to stocks, DON’T DAY TRADE. You’ll a rookie in a world of professionals. I tried day-trading with Citigroup and AIG when they were a little bit over $1. I had some luck at first, making about $30 a day but I was way over my head. My luck didn’t last long and I had to rethink my strategy.
Day trading involves A LOT of commissions to the broker. With all the commissions deducted from each trade, you’ll be lucky if you only lose half your money.
I would just day trade using Yahoo! Finance. Open a stimulation account, give yourself $100 worth of fake money and play it in the stimulation format. You’ll see what I mean by losing money every easily.
Good luck.
"The Intelligent Investor" by Ben Graham. Many consider this to be the investment bible.
Well the first thing you need to work on are your researching skills. If you couldn’t find this simple answer yourself!
This may help you: http://www.investopedia.com
Secondly, never take someones sole advice or stock tips just based on hearsay. For example Bobby over here says the book he recommends is like the bible to investing. Well, not only are there books just as good if not better, but if you dig down deeply and do your own research you will also realize the bible is based on fiction. No real events, so thats a horrible comparison trying to push the book.
There are several such internet sites which can be useful to you. But most important is this that you to work hard on this. Few sites are follows:
http://www.about-online-trading.com
http://www.dailylifetips.in/finance/
http://www.webtrading.com/
Above can very useful to you.
CBS
Email query to me at cbsingh_its@yahoo.com
Graham’s book is good, but very long. It is the best for value investing. FYI he died in 1976. A 22 year old would probably enjoy Cramer’s books "Mad Money: Sane Investing in a . . ." That said, avoid his picks.
Sam Stovall is an enjoyable investment writter. Most books on this subject, I have read a few, promise the world and are as dull as watching paint dry. Stay interested and watch the market, best advice is diversify.
Hi,
). Btw, I’m recommending the same book to all my friends too. Good luck and I hope this helps you in your endeavours.
This is the first time I am trying to answer a question here so I hope I don’t confuse you. First of all, you need to be very clear as to what you want to do wrt the share market i.e. trading (keeping money in for about a year or less and then withdrawing) or investing (buy and hold method). If it is trading, I’m sorry I don’t have an answer for you. But if it investing, I suggest you start with either ‘The Intelligent Investor’ by Benjamin Graham or ‘Security Analysis’ by Graham and Dodd. I’m currently reading Intelligent Investor and I must admit, its probably one of the best books I’ve read so far. In fact, you will notice as you read the books too that Graham was so ahead of his time. What makes his theories special is that unlike other books where they look at history for about few years, Graham’s theories was always based on facts that lasted nearly 50 years. And the best living proof of the application of his theories is his student, Warren Buffet. Not only that, if you check on google for the top investment books, you’ll always notice these 2 books in the top 10 if not the top 3. As someone else mentioned, it is the bible of value investing. In fact, I would go to on say that Graham is the father of value investing. All his theories still hold today. My only regret is I wish I had read this book when I was your age (I’m 28 now … never too late to start though
PS. Other books that I would recommend which would be best read after reading the above 2 would be (I’m still hunting for these books too),
‘Common Stocks and Uncommon Profits’ by Philip A. Fisher
‘One Up On Wall Street’ and ‘Beating the Street’ by Peter Lynch
‘The Warren Buffet Way’ by Robert G. Hagstrom <- To know more about Warren Buffet
‘The Theory of Investment Value’ by John Burr Williams <- Explains the concept of dividend discount model
Lots of good books and information out there for free. I created a blog named:
http://www.makingmoneyinvesting.blogspot.com/
It might answer some of your questions. I update it at least once a week. Please visit it and book mark it. I hope it helps. Email me with any questions. Happy Investing.
Not to belabor the response,
Here are some books
What Works on Wall Street by James O’Shaunessey
Beating the Street by Peter Lynch
One Up on Wall Street by Peter Lynch
The Warren Buffett Way by Robert Hagstrom
Trading For a Living by Alexander Elder
Mastering the Trade” by John Caster
How to Make Money in Stocks” by William O’Neil
24 Essential Lessons for Investment Success by William O’Neil
The Disciplined Trader by Mark Douglas
Here are some web sites
http://moneycentral.msn.com/home.asp
http://www.investors.com/?tn=top
http://www.rookiedaytrader.com/default.asp
http://www.thestreet.com
http://www.brokerage101.com/
http://www.1source4stocks.com/
http://www.decisionpoint.com/TAcourse/TACourseMenu.html
http://stockcharts.com/
http://www.grahaminvestor.com/
http://www.winninginvesting.com/
Good luck, I hoped I’ve help you
Any book on Buffett
You can get wise advice and discussions at http://www.BuffettCapitalists.com
Two possibilities you can take. First check on the online resources by googling or yahoo the keyword for investment tutorial.
Next is to go to your public library. Browse through the shelves where all the investment books are located. Look for those with titles that begins with Introduction, Beginners etc. Avoid those that are too technical until you have a basic understanding.
The above two possibilities should not cost you any money.