(no, because I’m not a big money-maker or anything, but yes, I’d certainly pay the minimum wage for my own security, as I often have done before.)
How much do I need to know about stocks?
One of the hardest questions any serious investor asks today. In simple terms, it comes down to how much you want to invest, and what the market is telling you — how good is it, how cheap, or how risky are you. I could write a book on it. This is a good place to start.
You can start with a list of stocks on the New York Stock Exchange.
Once you start thinking about the value of the stock, it’s much trickier, so I can’t help but throw in a few suggestions for reading as well. You can start by looking at the fundamentals: How much growth is there? Is there an industry that the company is focused on? Who is behind it?
Next, look at the industry and see if you might have seen what is being discussed and how often. Then make a list of stocks that the CEO or other senior managers of these companies are actively involved with. Finally, look at what is the market price for these stocks.
If you’re just starting, I recommend that you read one of those books about how to determine the fundamental and market price of a stock — John Lonsdale’s Fundamental Analysis for the Long-Term Trader, or Michael Lewis The Intelligent Investor, which is part of his Big Picture series. There are plenty of other books that help you work through the numbers that you need to get to the best possible conclusions.
The other book I suggest is Mark Hulbert’s Stock Analysis, which is available in a Kindle download. There’s a free, audio version as well, and at the end of the book you’ll find a page that explains in more detail exactly how to use these numbers (you can get the pdf here). It’s just one more option in the long list — but not for beginners.
Finally, what do I think of stock recommendations?
You could look at the list and make a decision, but in my opinion, there’s only one decision, and I’m biased. I recommend no other book.
When you come to a list of stocks that you think might work — and believe them to be a good investment — you make a decision. I’ve had clients tell me that they think that a high-quality manager
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