Books to read

[Doughboy]

I thought it would be a good idea to get this started. Everyone needs more knowledge, and reading bookd on the subject whether for learning or fun can really help. Even periodicals that you feel is a must have.

I will get it started by recommending:

How to make money in Stocks, by William J. O'Neil

This was my first book I read when I got interested in the stock market.

 

[selkirk]

Doughboy glad you started this thread, especially since the holiday season is approaching quickly.

the books I list you can find them on Amazon.com, Amazon.ca, chapters.ca, and for out of date books abebooks.com a good site, should be noted you are dealing with many small book retailers. Have not used the site, something like ebay for books.


1. Greed author Deborah Thompson pages 249 C 1997
basically a book about scams and frauds, well written. has eight stories some you will like better than others. bought the book cheap out of print.

2. Extraordinary Popular Delusions and the Madnes of Crowds
author Charles Mackay Wiley investment classics
okay it is written in 1841 but some things in history do not change. well written book about fear and greed. A classic.

3. Reminiscences of a Stock Operator
Edwin Lefevre Wiley investment Classics
This book tells some of the investment success and failures of Jesse Livermore.
from the back of the book

"The best book I ve read is Reminiscences of a stock operator. I keep a supply for people who come to work for me. " M. Zweig

Although Reminscences ..was first published some 70 years ago, its take on crowd pyschology and market timing is a timely as last summers fenzy on the foreing markets."

If you read the book and think it does not apply today, or is out of date, go back and read it again in a few years. the game stays the same, the characters only change.

4. Barbarians at the Gate The Fall of RJR Nabisco
Authors Bryan Burrough and John Helyar Harper Row

gave this book to a friend to read, does not watch any business shows and avoids the financial pages. She read the book in less than a week (500+pages).

This is about the story of RJR Nabisco but more about the climate in the 80s. It stars Frank Ross who made it on the cover of Time with the words GREED on the cover. by the way he came from Winnipeg Manitoba Canada.

also some great insight to how Amex worked and KKR which is still making headlines. great book.

should state in Frank Ross though he did try to make up to $1 billion on the deal if not more, shareholders made money on the takeover. not like today when idiot managment steals hundreds of millions and billions and drive the company into the ground.

also on video, great movie starting James Garner, all true but the bathroom scene. get the video but read the book for great detail.

will have a few more

thanks
selkirk

 

[Red & Black]

Two others that are good reads are Jack Welch's autobiography and anything by Benjamin Graham.

Jack's book is an interesting read about his tenure at GE. Found it very interesting to learn about the culture of GE. It was written before his divorce so you miss out on the low point of his life. While most of Graham's books were written many years ago, his investment principles are time tested winners. I try to use his investment philosophy in my own investing, but I'm just too impatient. Even though, he has helped me in picking winners such as Philip Morris (now Altria) when it was a stock noone wanted. I have turned a very nice profit on it.

 

[Doughboy]

I also really enjoyed "Liar's Poker", by Michael Lewis

This is a very entertaining read about the rise and fall of Lehman Brothers in the 80's through the eyes of a bond trader that worked there. Some of the antics are great, and you really get a good idea of how all of the big wirehouses would burn clients for a dollar.

 

[Doughboy]

Just bought Reminences of a Stock Operator.

 

[selkirk]

agree; have Liars poker on tape, great book and audiobook.
tell me what you think of Reminences of a stock operator doughboy.

RB have an article of Graham stocks that the writer does every year. will post them soon.

here are some more books

these two books deal with the mining boom in the 90s, after it was over 1998 there was this little thing called the internet/tech mania. anyways these two books are both good.

The Big Score (amazon.ca, chapter.ca) author Jacquie McNish Doubleday Canada. pages 348

this is the story about Diamond fields the stock that went from a few cents to over $125. a great story of dreams, greed, and the personalities. stars the greatest mining promoter (or top three) Robert Friedland.

should note I learned about Diamond fields around $1, and average cost was below $10 so it was a great time.

Remember talking to a broker the stock was at $75 and he felt it would go to $120 in six months to a year. did not buy more, probably should have, was already looking at other jr. to do the same thing... it is incredible how greedy you can get during these manias.

Fools Gold The making of a market fraud author Brian Hutchinson
out of print.. (abebooks)

there are four or five books on Bre-x, and many are more highly praised, I like the writing style. also has the history of an internet forum that discussed the stock. was revealed the company hired some posters to push the stock.

Bre-X was a stock scam that looking back should have spotted instantly, I got out when they threw their main geologist out of a helicopter. pure greed.

fun book to read about the end of a mania never ends well.

thanks
selkirk