best stock market books for beginners (Part 2). Changing your outlook

In my last post, I commented on being asked “What are the best stock market books for beginners?” and I recommended some great books. I want to add a couple more that will also include changing your outlook.

One thing I came across when I started investing was trying not to follow the herd. I can be as my friends would attest, be a little unconventional. With the herd mentality, you can run the risk of running of the investing cliff along with the rest of Joe Public. Hopefully, not literally, that would be pretty bad. In my early investing years I wish I had found these books earlier.

They may change how you approach the market, and yourself for that matter. I believe you need to think differently. Enlighten yourself and try to act differently.

The Gone Fishin’ Portfolio: Get Wise, Get Wealthy…and Get on With Your Life.

 

and


Beyond Wealth: The Road Map to a Rich Life 1st Edition

                        By Alexander Green

 

 

The Gone Fishin’ Portfolio: Get Wise, Get Wealthy… and Get on With Your Life.

The Gone Fishin’ Portfolio is a thought-provoking book. I got it when I joined Alexander’s investment strategy many years ago. There will be more on him and newsletter letters that he is involved with in another review.
At today’s prices, the stocks that were starting to be tracked back in 2003 are up on average 217%. Considering you would not have done much work, all you do is rebalance your portfolio once a year, and that would take you less than half an hour. Just thirty minutes for the year. You would have received got almost 14.5% per year. You can’t get that in the savings bank account.

I think it is an inspiring investment guide. It shows in detail how to consistently earn market-beating returns while reducing risk.
This strategy accepts the uncertainty of financial markets and has shown that it can produce good returns in both good times and bad. The Gone Fishin′ Portfolio shows you what that strategy is, how it works, and why you should start using it.

If you have no time in your life for investing, or you are scared to use ‘buy and sell’ techniques and other high-risk ways to invest in the market this smart and excellently researched investment strategy should be your go-to way of investing.

What will you learn in this book?

  • Discusses the best portfolio to ride all ups and downs in the market
  • Shows you how it is the most simple and one of the safest options
  • The “Gone Fishin′ Portfolio” is based on a Nobel Prize-winning investment strategy that takes just minutes to set up and manage.

I thoroughly enjoyed this book.

Beyond Wealth: The Road Map to a Rich Life 1st Edition

Leo Tolstoy said, “Nobody knows where the human race is going. The highest wisdom, then, is to know where you are going.”

It is a valid statement, many people today chase the false images of success, status in the community, living in luxury, having an excellent reputation amongst your peers and of course lots of valuable material possessions. In the quest to “have it all,” our lives often lack real meaning and purpose. Beyond Wealth is the remedy for that.

“New York Times bestselling author Alexander Green takes things right down to brass tacks: We are here for a short time. Knowledge is limitless. Therefore, the most critical knowledge is not any particular skill but rather wisdom about “how to live.” Fortunately, men and women have had several thousand years to think about what it means to live “the good life.” And the answers found here, from Plato and Aristotle to Mahatma Gandhi and Stephen Hawking, will both surprise and delight you.”

   Think and Grow Rich (1937) by Napoleon Hill

Think and Grow Rich is a great book, written during the Great Depression. It has since been revised and updated for the modern-day.  The original has sold more than 30 million copies around the world, in multiple languages. Hill conducted extensive research based on his associations with wealthy individuals during his lifetime.

As an aside: Andrew Carnegie, was Scottish-American industrialist, business magnate, and philanthropist. Carnegie led the expansion of the American steel industry in the late 19th century and had given the fourth-highest amount given to charity ($9.5 billion). Truly one of the greatest philanthropists. It was Carnegie who convinced Hill to publish his thirteen principles for success and personal achievement from his observations and research.

What will you learn in this book?

  • Napoleon Hill’s thirteen principles
  • Valuable insights into the psychology of success and wealth,
  • With the stress of the current ups and downs of the market, for example, China: US Trade war. Maybe I’ll give my two pennies worth on that news some time. This book will help you evaluate and understand more fully negative newsflashes.
  • The best investors did not emerge in a week or a month or even a year; they practised their skills through years with research and experimentation and quite a lot of quiet contemplation.

 

    How to Win Friends and Influence People by Dale Carnegie

How to Win Friends and Influence People is the most famous confidence-boosting book ever published; with sales of over 16 million copies worldwide. Imagine someone telling you to blindly follow a rule, while another makes you understand the reasoning behind his rule before giving you a choice to do it, which would succeed?

Millions of people around the world have improved their lives based on the teachings of Dale Carnegie. In How to Win Friends and Influence People, he offers practical advice and techniques, He has an enthusiastic and conversational style, to help you to get out of a mental rut and make life more rewarding.

What will you learn in this book?

  • Make friends quickly and easily
  • It will inspire you to get new clients and customers
  • Explain how to make you more popular
  • Explain how to persuade people to follow your way of thinking
  • Help you become a better speaker
  • Help you improve your interactions with everyone in your life.

 

I hope you found this useful.  Please leave me a comment below and let me know if you would like to see other books reviewed or added to the library.

Good Investing.

 

Phil