My 20 All-Time Favorite Finance Books (Part 2)

Tags: Book Reviews, Books, Cool Products, TIMreads

As promised, here is the follow up to part 1…read these or risk losing big money in the arkets cuz you didn’t learn the important lessons they teach us.

Education of a Speculator - Forge the fact that Victor has blown up twice now, he’s still worth a few million and he’s had some great runs. Perhaps he should just stop using leverage! Yah right, like that’ll ever happen—the best thing this book will do is to teach you to think differently.

The Disciplined Trader - Wish I’d read this earlier in my career, but alas, somehow it didn’t make the cut for far too long. Don’t make that same mistake, read this and learn from the grand daddy of trading psychology books.

Bernard M Baruch - God, I love stories of truly successful financial speculators—Baruch was one of the best. And even though this book doesn’t go into specific details of his strategies, it’s a great overview of the lifestyle and thinking of a successful trader.

Pit Bull - Another hugely successful trader, this book is much more in your face than Baruch’s and is one of the few recent financial releases worth spending time on.  

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My 20 All-Time Favorite Finance Books (Part 1)

Tags: Book Reviews, Books, Cool Products, TIMreads

These are my favs, ranked in order of how much of a fav they are–whether enjoyment or education-wise. You can see my whole 300 business library HERE (or at least what we’ve put up so far)

Notice there are few “How To” books—I believe success is more about understanding the variables and players behind the scenes so you can adapt to the inevitable changes. So, I prefer autobiographies—experiences full of lessons told through the eyes of the experienced who’ve learned those lessons the hard way so you don’t have. Throw in a few financial history classics and some trading psychology gems and you’ve got yourself one hell of a financial education. Just order the whole lot of ‘em, the cost of these books are a small price to pay for the money they’re gonna save you in the markets.

Reminiscences of a Stock Operator - My all-time favorite book, not just because it’s quick, entertaining, meaningful, practical, inspirational and timeless…okay well, yeah because of all that. Before you ever trade another stock, read this book!

An American Hedge Fund - C’mon, you knew I had to mention this if only because I’ve never read any other book so many times. Granted, some of that was for editing purposes, but I really think I nailed what the life of a stock trader is like—the passion, the nervousness, the anxiety, the restlessness—it’s not just about the money, it’s a great profession for those willing to challenge themselves and see what they’re made of. And, considering 90% of traders lose money, I wish there were a lot more brutally honest books like this.

How To Make Money In Stocks - My top pick for beginners, this sucker has sold 1+ million copies…besides CANSLIM investing being a successful strategy, it’s now just all one big self-fulfilling prophecy—don’t be the only one on the block who hasn’t read this…lots of angles to profit from its popularity.

Japanese Candlestick Charts - by Nison. If you’re gonna trade based on chart patterns, you need to know how to read candlesticks. This is a semi-expensive book so all you homeless people are gonna have to go to your local library to read it.  

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Two Great Book Reviews And A DVD Review To Boot!

Tags: Book Reviews, Books, DVD, DVD Reviews, Pictures

I absolutely love getting emails like this:

“Tim, I just wanted to thank you for An American Hedge Fund and PennyStocking. My boyfriend was the first to read your incredible book and now my boys, Charlie, 6, and Julian, 4, can’t get enough of it; they make me read it to them every night! And your DVD, oh my, it’s so taught us so much; so now we’re not afraid of any recession because as you say “you can profit from betting against companies managed by all the idiots on Wall Street!” And thanks to your strategies, we’ve already made a few thousand dollars in one month through short selling some of these surging microcaps! So, thank you, thank you, thank you, you’ve changed our lives and I’ll be forever grateful!”

Sincerely,

Michelle Casey

And check out the hilarious pics that were attached:

Not to be outdone, I got another great book review from a highly respected investment advisor, Ulli Niemann, aka The Wall Street Bully. Besides having a badass blogger nickname, Ulli advises his clients in ETF and mutual fund investing so I really had no idea how he’d take my wild journey. Guess it’s a good thing he’s a big believer in The American Dream! Here are some of my fav quotes from his review:

“Here’s a man who definitely learned from his shortcomings and is willing let the world know about it by sharing them in his book.”

“The knowledge he gained from several years in the trenches represents wisdom that I have found also applicable to the world of trend tracking.”

“Any trader or investor should adhere to Tim’s findings. This book is a fast and fun read, and I couldn’t put it down.”

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Sykes’ Saturday Seven: March 29th, 2008 Edition

Tags: Book Reviews, Link Love, TIM Lessons, Videos

Gotta start this linkfest off with one of the best quotes I received all week:

“I’m 150 pages into An American Hedge Fund already. Best trading book I’ve read since Reminiscences of a Stock Operator, something Tim’s book reminds me of.”

Comments like that just keep streaming in; I’m extremely honored—after all, Reminscences is my all-time fav book

THIS article says my now 2,800 Facebook friends aren’t really my friends. Noooooo!

Another blog comment (you guys are givin’ me some good stuff, thanks!) showed that TIM is not the first totally transparent trader, not by a long shot. I’m about 8 years off. Unfortunately, those other guys lasted just over a year, probly cuz they were also trying to raise capital…that won’t be a problem here!

This blogger tries to pick a fight with me in order to get some press for his crappy little blog…that’s fine, I’ll oblige. See my comments under his post correcting his assumptions with facts. Only one thing worse than a value investor—a value investor who jumps to conclusions without doing the proper research beforehand!

Now these are some real blogs, the TOP 25 BLOGS, all seriously banking (I might get up there one day, but rest assured no value investor will EVER get close, they’re all sooooooo boring!)

Former Countrywide guy creates a new loan company, just like the LTCM guys founding other hedge funds—we really need some kind of law to ban these bastards from business if they lose x billion dollars, would prison sentences be too much to ask for?

Classic clip from one of my all-time fav movies, There Will Be Blood

 

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