The Lemon Fool

After 40 years and a 7 figure portfolio...I'd say carry on as you are!

A book for a younger audience (or for people who prefer stories to a “scientific” approach try The Richest Man in Babylon - available cheaply in most formats or free online if you google the name.

SDN

A great read is the Journal of Finance. Published by Wiley for the American Finance Association.

Some great case studies in it. Both technical and fundamental aspects. Will save you a lot of time on your journey.
A sample case is: Market Statistics and Technical Analysis: The Role of Volume

There are many.

For those of us who are limited in time or are in the initial stages of understanding the language of investing, I recommend "A Random Walk Down Wall Street" by Burton G. Malkiel.

theogJ wrote:For those of us who are limited in time or are in the initial stages of understanding the language of investing, I recommend "A Random Walk Down Wall Street" by Burton G. Malkiel.

Available as a pdf:

http://site.iugaza.edu.ps/wdaya/files/2 ... Street.pdf

RC

The Zulu Principle
One Up On Wall Street: How To Use What You Already Know To Make Money In The Market
The Sterling Bonds and Fixed Income Handbook: A practical guide for investors and advisers
First Steps in Bonds: Successful Strategies without Rocket Science
Intelligent Investor: The Definitive Book on Value Investing - A Book of Practical Counsel
The Snowball: Warren Buffett and the Business of Life
All on my bookshelf!

I have recently picked up a softback copy of 'Capital' by Thomas Piketty.
I don't go for electronic reading and was too tight to buy the hardback.
Not an investing book exactly but a significant piece on the background on which investment is layered.
In summary, if you are already worth a few quid, the other books are irrelevant!

Wuffle.

The best book on investment and the only one is - The Richest Man in Babylon. Other that you need is to check ROI of every single think that you want to invest in.

baltica77 wrote:The best book on investment and the only one is - The Richest Man in Babylon. Other that you need is to check ROI of every single think that you want to invest in.

And you can get The Richest Man in Babylon free online (easy with google) so the ROI on that is pretty high too! Agree it’s very good!

A decent review of Piketty's latest here https://www.theguardian.com/books/2020/ ... -reduce-it

The result of these postwar trends is that western democracies are now dominated by two rival elites, reflected in many two-party electoral systems: a financial elite (or “merchant right”) that favours open markets, and an educational elite (or “Brahmin left”) that stands for cultural diversity, but has lost faith in progressive taxation as a basis for social justice. With these as the principal democratic options, nativist parties prosper, opposing educational and economic inequality, but only on the basis of tighter national borders. There is a vacancy for parties willing to defend internationalism and redistribution simultaneously.

"Capital and Ideology is an astonishing experiment in social science, one that defies easy comparison. In its ambition, obsessive testimony and sheer oddness, it is closer to the spirit of Karl Ove Knausgård than of Karl Marx. It alternates between sweeping generalities about the nature of justice and the kind of wonkery that one might expect from the Institute for Fiscal Studies, often in the same paragraph. It is occasionally naive (it will bug the hell out of historians and anthropologists) but in a provocative fashion, as if to say: if inequality isn’t justified, why not change it?

What would drive someone to write a book like this? If Piketty has one core political and methodological belief it is in the emancipatory power of public data: that when people are given sufficient evidence about the structures of society, they will insist on greater equality until they are granted it. Amid the distraction and perpetual outrage of our dysfunctional public sphere, this enlightenment confidence in empirics feels beamed in from another age. It also makes for a unique scholarly edifice, which will be impossible to ignore."

My personal observation is that everyone can diagnose the problem (though Piketty does so with evidence that most lack), and some are only too happy to misuse & abuse populism (Brexit is only one of the examples), but no-one can see a sufficient solution. I don't find Piketty's convincing, much as I would like to.

Capital and Ideology
by Thomas Piketty
translated by Arthur Goldhammer
published by Harvard (£31.95).

dspp

the naked trader - robbie burns.

one gem - selling at a loss is good for you !!

Hi I've been hard at it since 2013, got fingers burnt in the dot com and lost my mo joe. So I've been serious since 2013, and to take it seriously, lots of reading and go steady. Stocks with a heavy USA tech interest with some UK shares for balance.
Books I'd flag: (apologies as some of these have been mentioned):
Winning The Losers Game, Charles Ellis
The Most Important Thing Illuminated, Howard Marks
One Up on Wall Street, Peter Lynch
Contrarian Investment Strategies, David Dreman
A Random Walk Down Wall Street, Burton Malkiel
The Sceptical Investor, John Stepek
Free Capital, Guy Thomas
The Motley Fool Investment Guide, David & Tom Gardner

As they say on Motley Fool USA, 'fool on'.

https://www.lse.ac.uk/lse-player

I have just been listening to a Robert Shiller (Irrational Exhuberance) lecture podcast (click above link - enter name e.g. 'Shiller' in box) recorded at the London School of Economics.

There are lots of extremely interesting and informative lectures on the site by e.g. Nassim Taleb (Black Swan, Fooled by Randomness), Gillian Tett (Fool's Gold,The Silo Effect), Mervyn King (The End of Alchemy), John Kay (The Long and the Short of It, Other People's Money).

The lectures are public events and free - highly recommended. I have been to about a dozen. Usually there is a book signing afterwards.

Malty wrote:Free Capital, Guy Thomas

Definitely. A book that I re-read every few years.

I think I have read all the recommendations in the posts above. There are others I could add like 'Unconventional Success' by Swensen.
Each brings something to the 'game'. The book that had most effect on me was 'Winning The Losers Game' by Charles Ellis
He makes a simple point that unless you are world class at something your best strategy is something simple. For example if you play, say, tennis your best strategy to win would be to just get the ball back over the net. By trying to hit a winner is probably not the percentage play unless you are world class. I am not a world class investor (very very few are) but taking a simple approach means it is less complex, easy to implement/understand and I do not get wound up by not getting the very best result. Probably better for my mental health!
That said we are all different and some like complexity, research, etc. so you need to identify what works for you.
I have a bunch of trackers and ITs and worry about asset allocation and leave the tactical stuff of which shares to purchase to the computer/fund manger.

Good Luck

billG wrote: The book that had most effect on me was 'Winning The Losers Game' by Charles Ellis

There is a new edition (the 8th) due out in June.

https://www.amazon.co.uk/Winning-Losers-Game-Strategies-Successful-dp-1264258461/dp/1264258461/ref=dp_ob_title_bk

NEW CHAPTERS on bond investing, how investor behavior affects returns, and how technology and big data are challenging traditional investment decisions
NEW RESEARCH and evidence supporting the case for indexing investment operations
NEW INSIGHTS into the role of governance, developing a comprehensive saving strategy, and the power of regression to the mean

I think I will pre-order a copy. I am very interested in how respected authors are adapting their advice and strategies to the rather unique circumstances we find ourselves in, specifically when 'save havens' like bonds are, in common with (US) equities, are already at all time highs, and the QE/MMT experiment is being applied so vigorously by the issuers of the global reserve currency.

AleisterCrowley wrote:These are relatively well known;

Tim Hale - Smarter Investing
Lars Kroijer - Investing Demystified

I found Lars Kroijer's book disappointing. It does not add much to his videos and subsequent comments and articles on the Movevator website. Having said that, Lars recommended approach is very sensible: a global tracker (as cheap as possible) plus the safest bond in your currency. There are possible refinements to that theme, but whether they do better is a matter of chance.

"Stocks for the Long Run: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies" by Jeremy Siegel.

Highly recommended.

(No connection)

The Intelligent Investor by Ben Graham.

"Richer, Wiser, Happier" by William Green