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4 minutes reading time (718 words)

Five handbooks for a novice investor.

 Five books for a novice investor 5 handbooks for a novice investor

​It is important for beginners in the field of investment to know that practice in this area is much more important than theory. Although it is necessary to know the basics, it is better to get down to business as quickly as possible in order to get relevant experience in it. At the same time, one should not forget about the right approach to investment, and therefore it is worth considering several classic books that will help in this. Here are 5 classic pieces that can be considered desktop.

Rich Dad. Poor Dad. Robert T. Kiyosaki

Rich dad, poor dad - by Robert Kiyosaki, 2000.

A classic of the genre, which is a must-read. According to the author, people with low incomes work for money, the rich do it for the sake of new knowledge. And it is necessary to distinguish assets from liabilities, one thing may, in different circumstances, be either one or the other. For example, a car in private use is a liability, but like a taxi, it is already becoming an asset. According to Kiyosaki, tax planning is crucial.

The Essays of Warren Buffett: Lessons for Corporate America.

The Essays of Warren Buffett: Lessons for Corporate America - by Warren Buffett, 1997.

Description of the personal views of the world famous investor on various topics. It will help to understand the topic of corporate governance, company value and ways to increase it, investment itself, taxes and fixed assets accounting. The book presents the basic principles of the author of doing business. Finally, Buffett talks about her main successful deals and what it is like to be the head of the board of directors and one of the largest US corporations. At the same time, it is worth remembering that the recommendations of the book are often not applicable in the CIS.

​Beating the Street by Peter S. Lynch, Peter Lynch, John Rothchild

Beating the Street - by Peter S. Lynch, Peter Lynch, John Rothchild, 1993.

The author is one of the most successful investors and hedge fund managers with decades of experience. When he became the head of the Magellan Fund, the fund's assets amounted to $ 14 million, and after 13 years they grew to an unthinkable 14 billion. This made it the largest in the world with the highest annual return of 29%.
According to Lynch, private investors are well positioned to leverage market opportunities better than even the Wall Street pros. He shares his thoughts and principles that help him successfully work with stocks.

The Intelligent Investor by Benjamin Graham

The Intelligent Investor - by Benjamin Graham, 1949.

Warren Buffett considers this book to be the best in the field of investing ever written on a topic. The author is recognized as the creator of the concept of value-based investments, as he was a proponent of acquiring stocks that were underestimated in value relative to their real value. And the latter is determined by fundamental analysis. Graham, using stock market history as an example, shows how to apply fundamental analysis in practice to stocks. He shows two management approaches to the asset portfolio - defensive and active, illustrating everything said with examples of specific companies.

Think and Grow Rich – by Napoleon Hill

Think and Grow Rich - by Napoleon Hill, 1937.

This book has been sold in over 30 million copies and is a study of the lives of wealthy people in order to understand what made them successful. It speaks of 13 principles for achieving success, affecting a variety of areas. In addition, Hill also addresses the then new theme of "brainstorming." In general, work helps in changing attitudes to life and allows you to approach wealth.

It is important to remember that these books written by American authors are not always correct for the conditions of other countries. This means that decisions need to be made not only on their basis, but also thinking with your own head and relying on your experience and knowledge.

​If you are new to investing, then you will be interested to know the most common mistake - Investing in stocks by beginners is a major mistake.

​And what books do you know for studying for a novice investor? Write in the comments.

How can a trader believe in his own strength?
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