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How seriously are you going to take this? If the answer is "seriously", then Benjamin Graham's The Intelligent Investor is a pretty good follow up if you've already read A Random Walk.
OP, probably not a popular opinion in this sub, but if you want to beat the majority of investors and have the most likely path to a healthy retirement, look into index funds. This book by Jack Bogle, the founder of Vanguard, lays out incredible evidence on top of evidence on top of evidence that the way to make the most money in investing is via index funds. My comment may get downvoted in this sub, but do some reading and decide for yourself :)
I was in a similar situation in my early 20's but yours is tougher. I believe the best thing you can do right now is to increase your income as much as you can. The more you earn, the more you can invest. Go abroad if you have to. Salary levels in Pinas are shit. In my case, I accepted more and more freelance (programming) work from abroad and eventually quit my corporate job. I started with about $11/hr and was able to find a good and stable client willing to pay $30/hr after a couple of years. That was last decade. You may be able to get more now.
For investing, please start with reading The Intelligent Investor. It's worth it even if you eventually go with a different investing philosophy. I can only honestly recommend managing your own stock (and other assets, if you want) portfolio. If I went with funds, the value of my investments would've been worth just 10 to 15% of what they are now. But there's no guarantee that the same performance can be replicated, so you really have to find what works for you. I graduated with no honors so you're probably smarter than me. I'm sure you can do this :D.
This is an old book but I believe this is where everyone starts with value investing, Benjamin Graham, The Intelligent Investor: https://www.amazon.com/dp/B000FC12C8/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1 Or try the sub r/investing not WSB, GL!
Tldr: just put it in a low cost index fund. It's that simple, everyone thinks they beat the market but in reality the chance of you picking the right actively managed fund or even more miraculously pick single stocks that beat the market are not good.
https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Jack Bogle's Little Book of Common Sense Investing is the right place to get started. Dave Ramsey is great for beginners too, but he preaches a hard line on some things that aren't necessarily true at all income levels.
I don't like Guides - as most of them are biased or tilted towards their own skewed opinions of what delivers the most returns.
I would strongly recommend reading this book: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
It will explain everything - and what contributes the most to your returns over the years.
I like this stock! I love her book!
Go buy her book, make it rocket up the Amazon bookseller chart: https://www.amazon.com/Naked-Short-Greedy-Streets-Failure-ebook/dp/B08XXXRH7T/ref=sr_1_1?dchild=1&keywords=Trimbath&qid=1619112118&sr=8-1
This is not an affiliate link, just a plea for recognition of her great research
You can certainly make more money with a concentrated position in a single stock, but you also have to be comfortable with higher risk. At your age I’d simple recommend a 100% equities, no bonds portfolio. Just buy the index and don’t look at it for 5 years and let compounding do the work. It’s more about setting the right investing habits at your age than trying to get rich off of $1K. I’d recommend starting with Jack Bogle’s book titled “The little book of common sense investing.” https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
It’s an easy read and a good primer by the godfather of Index investing.
Yeah I got you.
https://www.amazon.com/Market-Wizards-Interviews-Top-Traders-ebook/dp/B006X50OPW
https://www.amazon.com/Option-Traders-Hedge-Fund-Framework-ebook/dp/B00844NXC6
I have those and their a pretty light read. The first Market Wizards will show you how other traders plan and execute off certain market conditions. The second is going to give you a background on the whole market chain and how options fit in and play off of it.
Of course also read Benjamin Gram's book. Its the bible of investing.
VUSA is an sp500 low cost etf in gbp. Depending on his risk appetite and how soon he needs the money he could mix it with VAGP which is Vanguard Global Aggregate Bond etf, also low cost.
I currently have 100% VUSA in my ISA.
I strongly suggest reading this book by John Bogle, the guy who invented index trackers.
Some people suggest going into a world tracker instead of a 100% US one like vusa. If you feel that the US will stop performing as they have then have a look into this other book.
I personally don't think that the world is gonna switch gears soon, hence my bet on the US market.
The book which had the biggest influence on me and changed my view on Investing was from John Bogle, Father of index funds.
This is the one and only one book on index investing you require ;-). Little book of common sense investing. Its the number one best seller in mutual fund investing over amazon.
He has written many other books too which you can slowly digest one by one.
OK I've came back with the ~~Deep Discount~~ ~~Dollar Dollar~~ ~~Debbie Does~~ let's just call it DD.
> What does DRS for GME, also known the ticker symbol for GameStop mean to me as an individual investor?
See below.
> Can it do things like preventing my own investments being used against me by being loaned out to gigantic funds to manipulate the value of the company on a whim?
Yes.
> Can it secure my investments by having the stock in my name giving me control over it instead of handing over control to a brokerage?
Yes.
> DRS does stand for Direct Registration System right?
Yes.
> I’ve heard great things about DRSing $GME.
Yes.
Dr. Susanne Trimbath? This one?
https://twitter.com/susannetrimbath
I think she sells a great book here:
https://www.amazon.com/gp/product/B08XXXRH7T
I believe her most famous work is called "Naked, Short and Greedy: Wall Street's Failure to Deliver" by Dr. Susanne Trimbath. There must be a reason Dr. Trimbath has a 5 star book on amazon.com, probably because it is so good that it earned five stars out of five stars.
I recommend “Debt: the first 5000 years” for those interested in this topic.
Basically The idea that before money there was a barter system for everything is completely wrong, and has never been demonstrated even in primitive tribes of today.
Cannabis.
I could not read Pete Walker without being stoned the first two times. Maybe a page sober, but probably not more than a few sentences.
Now I can. Heck, I got through The Black Swan sober and that is saying something!
the two things that'll help the most are
- BUDGETING - www.ynab.com and /r/ynab. a real living budget with earmarked money that you check BEFORE you spend. not napkin math expenses list and income list, those things are missing things 100% of the time.
- COOKING - my wife and i live in nyc and have a grocery budget of $400 and we shop at whole foods. our restaurant budget is $200 / month. cooking is what allows you to keep these numbers low
yes there is a book i recommend:
https://www.amazon.com/You-Need-Budget-Paycheck-Paycheck-ebook/dp/B071Y2XSFN
YOU NEED A BUDGET
i can't stress how life changing it was to start budgeting actively. started in 2013 and it removed so much stress. now in a marriage its the central planning point for us and keeps our goals aligned
I believe they're referring to someone mention in this book:
https://www.amazon.com/Market-Wizards-Interviews-Top-Traders-ebook/dp/B006X50OPW/
I recommend it. It's a good read!
I know this is a YNAB sub, but I found YNAB to be a bit tough to deal with for my small business. I already categorize all of my transactions in QuickBooks, so to have to do it again in YNAB for budgeting seemed pretty rough. I did see they have some budgeting functionality in Quickbooks that might be worth looking into, but I have been using the Profit First method and doing it all through my checking accounts. Can check out the book here:
https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4
It's still an envelope method like YNAB, but a little less detailed. I am pretty religious about my usage of YNAB for my personal life, but this feels like a much better fit for my business and the volume of transactions I'm going through.
Yeah I've done that. This helped, it's old but humans haven't changed. You'll find some approach or insight in there that will help you with this and other things.
https://www.amazon.com/gp/product/B006X50OPW/ref=ppx_yo_dt_b_d_asin_title_o00?ie=UTF8&psc=1
I just bought the Intelligent Investor, but the copy I bought had just as much commentary than the actual material. It's being returned while I wait for another copy to come in the mail.
to be honest, if you're having such a worry, you're obviously not suitable to hold individual stocks regardless of the amount of time and effort poured into research.
What you should be doing is holding the entire market through an irish domiciled etf that buys the SP500 index and build your portfolio from there.
Low Tax and fees should be the top priority in your mind as a recent investor.
It's not as exciting as when NVIDIA announces a new GPU and their stocks skyrocket but by having an ETF which holds the entire market your position will not be as volatile and you do not need to worry about how bad your individual positions get. As the market grows, your ETF grows. DCA into these 20 years and you'll thank yourself for sticking through both good and bad times.
20 years of holding individual positions just cause some say these big name companies are good can just be as bad cause you don't know what's gonna happen. They don't even have a crystal ball to prove it to you.
I see some people recommending call options here. You just started investing. Unless this is money you're willing to burn, this should be a no no for you.
You should also start with this to get what I just summarised above: https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Probably an unpopular opinion in this sub, but with time I’ve grown convinced that the best investment approach is this one: https://www.amazon.ca/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
Just invest + forget.
The Black Swan by Nassim Nicholas Taleb
Nudge by Richard Thaler
Yeah, initially I watched OM's youtube explanations of his process and though they were too high level. He doesn't explain the theory behind his process. I'm reading a book that explains what I believe is his methodology though: https://www.amazon.com/gp/product/B00DGA8LZC/ref=kinw_myk_ro_title
It explains volume price analysis and touches on volume at price later in the book. VPA is basically how to interpret candles and constantly repeats how important looking at the volume is. The volume at price explanations can be summarized by my previous comment.
Do you have evidence of this not happening with Meta? 😃
Just kidding, of course not, since it’s how they operate. You’d need the blessing of the Families to launch a new company that wouldn’t be shorted from the get go. Hey you beautiful stranger reading this, grab a copy and go ham on it: https://www.amazon.com/Naked-Short-Greedy-Streets-Failure-ebook/dp/B08XXXRH7T
Or you can check out any number of Wes Christian / Susanne Trimbath interviews out there on YouTube.
The long of the short story just is - if you’re going long on a good company and don’t intend to day trade it or sell in a heartbeat for quick profits, I see very little reason in keeping your shares at the DTCC. Why stay in an abusive relationship in the first place when you can choose between an abusive and a normal one? DRS’ing is also kryptonite for the naked shorters.
But hey, that’s all I got time for today. Good convo, although I’m sure you realize it’s meant for anyone reading this thread, not you per se. 🙂 I don’t know you and definitely know better than to hate the player who might be in dire straits and gigs can be hard to come by, so no judgement from here. Send them these screengrabs with my love. ❤️👌🏻
Gino Wickman’s book is great. Profit First may also be useful
https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making-ebook/dp/B01HCGYTH4
The studies that claim that TA can give an edge always restrict this effect to certain time windows when markets are "ineffective". (If you have a counter example I would be interested to read it) Unfortunately we can't know when markets are effective and when they aren't. If you analyze common TA predictors over a very long time period, they lose pretty much all predictive power. Which makes intuitive sense actually, because if for example buying the golden cross would give a consistent 10% return, then everybody would do it and thus negate its effect. There are no infinite money loopholes, every win is somebody's loss (minus annual growth of the market).
>all high frequency trading relies heavily on TA.
Do you have a source for that? I would be interested to read it. I would imagine that state of the art algorithms feed historical price info into their models, among many other variables, but to say that they employ TA would be a stretch if we compare that to rather simple trading rules such as crossing moving averages.
Hedge funds and investment banks have a bad track record of beating the market. The bottom line is, if you expect to beat the market on a consistent basis by using TA you will most likely be disappointed. Of course, you can always get lucky. It is easy to find examples of investors who made a lot of money using TA. But this is survivorship bias and does not mean that it works.
If I may suggest a book that helped me (among other) to develop an intuition around this: The little Book of Common Sense Investing. It makes the case for index investing and challenges the idea that trying to beat the market is a worthwhile pursuit.
I also strongly recommend John Bogle’s investing book. He was the chairman of Vanguard and basically invented most of the index fund industry. Once you understand what he did and the basic concept behind it, you will realize that 90% of what passes for investment knowledge is usually a waste of time.
I guarantee this book will generate returns of about 10,000%. https://www.amazon.com/Little-Book-Common-Sense-Investing-ebook/dp/B075Z6HSCJ
There is a chapter in You need a Budget
Jesse also recommended The Opposite of Spoiled