question for senior users (DW, keverus etc)

[elisee1]

how did you progress from knowing nothing (finance related) to where you are now?

because im currently at a "i know nothing" stage and i also want to progress to being a financially knowledgeable person

 

[Dividends Warrior]

- Borrow books from the library.
- Visit investment-related websites (CNBC, Bloomberg, Marketwatch, Investopedia etc)
- Visit investment blogs
- Have discussions in forums. Ask questions in forums (Be thick-skinned >__<")

But I have to admit, I still have lots of things to learn.

 

[elisee1]

- Borrow books from the library.
- Visit investment-related websites (CNBC, Bloomberg, Marketwatch, Investopedia etc)
- Visit investment blogs
- Have discussions in forums. Ask questions in forums (Be thick-skinned >__<")

But I have to admit, I still have lots of things to learn.

hey thanks for your reply!

any specific book titles that are geared towards someone who "knows nothing but wants to speed their way to knowledge"?

 

[Dividends Warrior]

hey thanks for your reply!

any specific book titles that are geared towards someone who "knows nothing but wants to speed their way to knowledge"?

U may wanna start with this book.

 

[colonelsoh]

 

[CookieMonsta88]

how did you progress from knowing nothing (finance related) to where you are now?

because im currently at a "i know nothing" stage and i also want to progress to being a financially knowledgeable person

entirely depends on what you wanna do, investing or trading or something even more passive compared to investing, their methods and focus are different, and some of their methods are opposite of each other, if you are interested in investing, u can learn some basic accounting to learn how to interpret balance sheets and stuff from financial reports, for trading, well lets just say take everything in trading, there are definitely ways to trade very well, but the amount of bad info around is quite sizeable too, so do take the info u find with a pinch of salt, and don't even commit a single cent unless you know what you are doing, just demo till you are sure the logic behind the method you trade is sound, took me about 6months to figure quite abit of the stuff out

also u must understand that trading has a huge conflict of interest, while investing is usually cooperative, but still take everything with a pinch of salt, so id say to start out, figure out what u wanna do, like trading? high effort high risk high reward
or investing, not as much effort, medium risk if you get it right, high reward but takes time

personally i would say dividend warrior's method of DRIP is very good, and i myself am researching into it, but back it up for fundamentals and conditions for the company to succeed

as for trading, well get acquainted with everything, so as to know the fakes from the real ones, then work from there, but id say try trading for a living by alexander elder, specifically for the psychology section

but i really do hope, that u do acquire the skills, to learn to test out whats real and whats fake, coz the fake stuff may seem really enticing at times to use, only to get urself burnt

just my 2cents

 

[limster]

Random Walk Down Wall Street, Malkiel
Capital ideas Evolved, Bernstein
Fooled by Randomness, Taleb
Intelligent Investor, Graham

I started trading more actively in 2008 and these books
helped me a lot to trust myself and not the "experts" or the fancy "techniques" that they advertised. These books helped me a lot as 2008-2009 was a very volatile period.

If you used the basic and most boring investment technique (advocated by Benjamin Graham/Buffett) fundamental analysis (FA), you would have found so many undervalued stocks in 2008-2009 and have gotten a decent return.

One of the problems with using FA (with margin of safety) is that you trade a lot less often than those who using other "techniques" so some may find it boring. For example, using FA you calculate a target price for a share but the share price never seems to drop to the target price, so you end up never trading for years. Then one day, a few years down the road, for some reason, the target price is reached, then you recheck your assumptions/calculations, and buy.

 

[Dyhalt]

Another very good way is to learn from the right peers if they are willing to share

1. If you want to be a president, ask a president how he did it
2. If you want to be a CEO, ask a CEO how he did it
3. If you want to be a self made billionaire, ask a self made billionaire how he did it
4. If you want to be a sales that sells finance products & take MRT to work everyday, ask your bank finance adviser.

Just sharing some personal experience

 

[focus1974]

1) Read value investing articles.
2) START INVESTING (Don't paper trade or WAIT)
3) Enjoy the journey.

 

[chopra]

wiki time value of money
read 5times

 

[sAVaGEmP5]

So many ppl coming here to find shortcuts, shortest path to reach what we have taken many years of time, effort, money to be called => experience.

Funny thing is trading is so different from studying and there's no tests to rate how "god" or bad u are or how much u learn...

Step #1
Wiki word "investment" and search thru top 100 pages.
Step #2
The moment u read a new word like "Options" / "Dividends" / "portfolio" for eg => repeat step 1 with the new word.

 

[elisee1]

So many ppl coming here to find shortcuts, shortest path to reach what we have taken many years of time, effort, money to be called => experience.

ya thats why i made this thread, so that senior users such as yourself can give your opinion on how to achieve your level of knowledge in a much shorter period of time

 

[Shiny Things]

ya thats why i made this thread, so that senior users such as yourself can give your opinion on how to achieve your level of knowledge in a much shorter period of time

Won't happen. You can only learn this stuff through years of experience (ten years in my case).

I can give you one bit of knowledge: retail FX trading is a ripoff. The only people who make money are the banks. Stick to buy-and-hold investing in blue-chip stocks - this is the easiest, safest way to make money for retirement.

 

[sAVaGEmP5]

Gaining knowledge is easy read and study more, tats y alot of local grads are "book smart".

Throw them 1m to run a prop desk and u see what happens.

 

[chopra]

Won't happen. You can only learn this stuff through years of experience (ten years in my case).

I can give you one bit of knowledge: retail FX trading is a ripoff. The only people who make money are the banks. Stick to buy-and-hold investing in blue-chip stocks - this is the easiest, safest way to make money for retirement.

yes sir.
I only execute 2 to 3 trades per year.
most boring type. :x

 

[Some-one]

ya thats why i made this thread, so that senior users such as yourself can give your opinion on how to achieve your level of knowledge in a much shorter period of time

You can borrow the following books from our library

1. Value Investing for dummies
2. The business of value investing
3. The Conscious Investor

You would not be able to learn it in a short period of time. It took me around 3 years after reading several books to be able to invest better. During these 3 years, I guess I have read hundreds of books and my friends thought that I am crazy to be reading investment books all the time.

 

[sAVaGEmP5]

You can borrow the following books from our library

1. Value Investing for dummies
2. The business of value investing
3. The Conscious Investor

You would not be able to learn it in a short period of time. It took me around 3 years after reading several books to be able to invest better. During these 3 years, I guess I have read hundreds of books and my friends thought that I am crazy to be reading investment books all the time.

Dun worry... Soon u will be able to invest and make money while ur friends around u, those who laughed at u before, will start envying u.

 

[Some-one]

Dun worry... Soon u will be able to invest and make money while ur friends around u, those who laughed at u before, will start envying u.

Thanks. For those who have seen some of my post would know that I am already making money and I do not regret reading so much books .

Remember, like TS, I have totally zero knowledge of finance. I don't even know what is investment and I lost quite a lot in the first few months but then I understand that finance knowledge is important.

There is no way that one can retire comfortably as a normal salary worker. Unfortunately, schools don't teach financial knowledge and it is up to oneself to learn. I hope TS can quickly start his investment journey.

 

[Keverus]

hahaha. ts, are you crazy? i'm new to the world of investing as well!

 

[Keverus]

yes sir.
I only execute 2 to 3 trades per year.
most boring type. :x

Same here. but i perform a little more la

I do a fundamental analysis and when I am happy with the direction the company is going, I will then perform simple technical analysis and if the numbers arent too far off, will proceed to buy.

i prefer a buy and hold strategy rather than trying to time the market, which has been proven to likely end in disaster for most people.