The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)

Mr. Market *kuc*kuc*kuc*

Pozdrav svima,

Da ne bude sve šturo evo malog primera. Kupili ste jednu akciju kompanije ABC za 1000 EUR. Neka je sa srećom.

Sutra ujutru vam kuca neko na vrata. Čovek u odelu i šeširu kaže sledeće:

Dobar dan, ja sam Mr. Market i ja bih da pazarim akciju od ABC za 1001$ Kupi ili prodaj!

Šta činite sada?

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Sutra ujutru ponovo

Dobar dan, ja sam Mr. Market i ja bih da pazarim akciju od ABC za 1007$ Kupi ili prodaj!

A sada šta činite?

----

Evo ga opet, davež jedan.

Dobar dan, ja sam Mr. Market i ja bih da pazarim akciju od ABC za 1879$ Kupi ili prodaj!

Šta činite sada?

----

Aman čoveče imaš li ti kuću?

Dobar dan, ja sam Mr. Market i ja bih da pazarim akciju od ABC za 2077$ Kupi ili prodaj!

Koja je odluka sada?

----

Dobro bre, da li ti smaraš tako svakog?

Dobar dan, ja sam Mr. Market i ja bih da pazarim akciju od ABC za 588$ Kupi ili prodaj!

Koja je odluka ovog puta?

​

Mr. Market je celo tržište, nemojte da dopustite da vas maltretira trenutnim cenama. Ponašajte se sa akcijama koje posedujete da ste vi VLASNIK tog BIZNISA! To što ih tržište ceni toliko i toliko ne znači da je to njihova prava vrednost. Neka vesti pričaju svoje, neka galame, neka paniče, neka se pucaju euforijom u venu ali vi znate vrednost vašeg udela i povremeno koristite da zaradite više novca ili boje pozicije u datom biznisu kada Mr. Market lupeta gluposti.

Odlomak je pozajmljen iz knjige Intelligent Investor i TLDR youtube snimak

Srećno ignorisanje šuma od Mr. Marketa!

Read this then read it again:

The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)

https://www.amazon.com/dp/0060555661/ref=cm_sw_r_cp_api_glc_fabc_bVe2FbR8ZX73D

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

This book should be required reading in high school.

The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) https://www.amazon.com/dp/0060555661/ref=cm_sw_r_cp_api_i_hnpOEbCDW7E80

I understand that you are new to investing, so Welcome!

Now since you are new and you are going to be doing this in small increments you need to decide a few things. 1st how much time and energy do you want to spend searching and trading? If the answer is a great amount of time and energy (think many hours a day, every day) then individual trading / day trading may be your thing. Note: many lose money this way.

If your answer is, well I would rather not spend much time each day on this but I want to make money over time. Then DRIP (Dividend Reinvestment Plan) may be a better fit.

Here are my suggestions: Open an account with a broker that allows for fractional share purchase and automatic reinvestment. I am liking M1 Finance right now. Set up a basket something like (VOO, QQQ, VTI, MSFT, AMZN, ARKW, V, PTY, GAIN, O, AWR, MAIN). Then just feed it regularly from each pay check, say, $20 each time you get a paycheck, or whatever amount you decide you can live without for now. Then let it rock and roll.

Also you will need to do a lot of reading going forward such as The Intelligent Investor by Benjamin Grahm

Disclamer: im a new invester too.

However, just peeking at the comments i see a lot of ppl just telling u to buy some stock and call it a day. Obviously this isnt going to teach u anything. If you really want to learn investing, you're gonna have to read.. a lot. I googled top stock traiding books. I picked up a copy of The Intelligent Invester which really helped me understand some of the fundamentals of traiding. They also have audio book copy if your bad at reading like me.

Lots of ppl on reddit seem to like day traiding or just gambling. Imo this will take more luck and skill than value traiding, and so will be exponentially more risky for a noob invester like us. While value traiding is not "cool", its almost all Warren Buffet does and hes the most successful invester in probably ever.

The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) https://www.amazon.com/dp/0060555661/ref=cm_sw_r_cp_api_i_vj3.Eb20Q50VQ here’s the link to the book, via amazon

1. The Intelligent Investor by Benjamin Graham
2. If you have no time/interest for investing -> VSTAX. If you are interested in investing and you are willing to spend some time and resources looking into companies, then approach buying a stock as if you are literally an owner of the company. Which companies are worth owning? Those that have a history of solid cashflows, return on invested capital, and that the market has ignored or undervalued.
3. I have a small portion of my portfolio allocated to actively picking stocks
4. Better than expected returns.

The Intelligent Investor -- Benjamin Graham

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

https://www.amazon.com/dp/0060555661/ref=cm_sw_r_cp_apa_i_PV3xFbRJA81NW

If you are serious about investing, this post isn't a joke. If you are just looking to "get rich quick", you aren't investing you are gambling. Investing is sports cards (and making money outside of bull markets) is a grind, and almost a second job, so be ready to dedicate a chunk of your time to it.

1. Anyone who invests should take 20 hours out of their life and read this (assuming a 2 minutes per page reading pace).

The Intelligent Investor

1. Your next step should be simulating investing in sports cards. Before you even put a dollar into cards, give yourself $500 excel dollars and make some purchases. Track their growth/decay, and try to understand why cards go up in value.

2. Learn how to build a business case. If you are investing, truly investing, you should have a business case that discusses your acquisition price, your growth expectations, your risks, and downside and upside sell ranges.

3. If this is too much work, then don't invest, gamble. There is no shame is just throwing money at the wall and trying to hit big. If your budget allows for a ton of risk, why not?

4. If investing or gambling aren't for you, and you still want to be involved in sports cards. Find a player that you like, and collect what you like. Most people shouldn't gamble within sports cards, the market is super volatile and most likely inflated at the moment. Most people also don't have 3-4 hours a day to actually make the commitment to truly invest in this sector. You will hear every get rich story during the bull market, but there are about 1000x as many failures that are unspoken.

The Intelligent Investor: The Definitive Book on Value Investing

My thing is value. If you're seeing 52-week lows on Blue Chips, then I say pull the trigger. My thought is when I buy stocks, I hold them for years if not decades like apple and amazon. I wouldn't touch anything aerospace-related right now. But since your into Boeing right now as long as your willing to sit on it for a couple of years, you'll do okay. ETFs like, GUSH you get a better dividend owning individual stocks like Chevron and Exxon with much less volatility. I read stuff like The Intelligent Investor https://www.amazon.com/gp/offer-listing/0060555661/ref=tmm_pap_used_olp_0?ie=UTF8&condition=used&qid=1592030552&sr=8-2

If you want to get investing to help grow wealth,

The intelligent investor - Benjamin Graham

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

​

This book is one of the go to's for people who want to learn how to grow in the markets.

First edition came out in 1949, and it's still being sold and referenced.

​

Edit: I need to read comments first. Others have already pointed this book out.

Is this the right one?? https://www.amazon.com/dp/0060555661/ref=cm_sw_r_cp_apa_i_nw6BFb4R860HC

This

https://www.amazon.com/Benjamin-Graham/dp/0071592539/ref=mp_s_a_1_3?dchild=1&keywords=security+analysis+benjamin+graham&qid=1599622659&sprefix=security+ana&sr=8-3

and this

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661/ref=mp_s_a_1_3?dchild=1&keywords=benjamin+graham+intelligent+investor&qid=1599622708&sprefix=benjamin+graham+int&sr=8-3

It depends whether you're asking about investing or trading. These are completely different. Regardless, I link my core literature for both below. But both can be studied very well online, so I'd focus on that too.

With investing, good insight is when you study other successful investors (like Warren Buffett, Peter Lynch, etc), watch other smaller investors to see how they analyze, and most importantly, getting yourself familiar with the balance sheet and the data so you can read it and use it - Investopedia explains everything very well.

With trading, I found most helpful watching other traders. There are multiple communities for trading, from twitter, through trading and specialized platforms, to youtube. Learning from people with professional background (Wall Street etc) will do well, they often mention very helpful core insights that are otherwise hard to learn elsewhere on your own.

But if you go learn from other people, watch out for charlatans. This field is full of them...

Investing - The Intelligent Investor by Benjamin Graham
Trading - Trading for a Living by Alexander Elder

Good to know. So is it the hardcover or paperback version that's preferred? Noticing the hardcover version is listed as having 304 pages with a publishing date of May 3, 2005 while the paperback version has 640 pages.

For value investing this book by Benjamin Graham is the standard. Graham was Warren Buffett's finance professor at Columbia Business School. Book is from 1949 but still holds true. On Amazon look at the other similar books suggested as they are great as well, like Beating the Street by Peter Lynch.

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

First, you have to cover the fundamentals of the market. I recommend this one: WallStreetBets: How Boomers Made the World’s Biggest Casino for Millennials. It's a highly ranked Amazon finance book

https://www.amazon.com/WallStreetBets-Boomers-Worlds-Biggest-Millennials/dp/B084DFNN2F/

If you look on the same page, you can see it can be paired with The Intelligent Investor: The Definitive Book On Value Investing. This book is more of a meme, but this is how they did it in the old days.

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661/

Do these books first:

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Practical/dp/0060555661

https://www.amazon.com/Interpretation-Financial-Statements-Benjamin-Graham/dp/0887309135

https://www.amazon.com/Most-Important-Thing-Thoughtful-Publishing/dp/0231153686

Also, you can start by taking Damodaran's Valuation Classes.

Right now, your best investment is knowledge.

https://www.amazon.com/One-Up-Wall-Street-Already/dp/0743200403

https://www.amazon.com/Five-Rules-Successful-Stock-Investing/dp/1501264273

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

You are welcome. Where are you in life? Student / working / etc.? It's possible that your first investment will be investing in yourself.

Oh I see yeah I made an assumption. Australian debt to GDP is manageable for now at 45% https://tradingeconomics.com/australia/government-debt-to-gdp

If you maximize this chart https://tradingeconomics.com/australia/stock-market

You will see that Australia had its own 2008 collapse where the stock market dropped from like 7000 down to 3500 within 1-2 years.

Here is another indicator that you are in a bubble territory - https://tradingeconomics.com/australia/interest-rate

The IR has never been so low. I am not sure how long this will last ...

As for the housing prices - they seem to be on the decline since mid-2017. Not sure how much further it will fall.

https://www.ceicdata.com/en/indicator/australia/real-residential-property-price-index

At least in the US you need to have a good amount of $ already saved to get a good deal on real estate.

This book was recommended by many but it is like 14 years old now - https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

My advice to you would be to learn about personal finance. Real estate is just one of many branches of personal finance. It's complicated, but so are all the other branches (debt, equities, tax-advantaged investments, taxes themselves, etc.).

If you have the fundamentals of personal finance down, so you have a sense of how to take cash or debt and turn it into a value-generating asset, then you can explore in more detail whatever element of personal finance is relevant to your circumstance.

This doesn't really apply if what you're saying is that you want to work in real estate. In that case, you need to know about real estate. But if you're talking about buying a home or even investing in real estate, the place to start isn't with how real estate works--it's with how money works. Because you can't understand the implications of buying a property unless you understand what your other options are.

Here's a book from the mentor of Warren Buffet about long-term investing in securities (any other kind of securities investing is gambling unless you actually have enough money to influence the direction of your investment).

This book will explain pretty much everything you'll need to know about investing, which is less than you'd think (buy as many Index Fund ETFs as you can, with as low of load as you can, and put them in whatever is most tax-advantaged first. Leave them there. Take debt whenever it's cheaper than that what you'll earn from it, and never take it when it's not. If any of this sounds complicated, it won't after you do some reading!).

If you really want to know about houses, I wouldn't start with reading about investing or buying. While they certainly are a financial instrument and tangible asset, they're first and foremost a tool for living, and that's where the buck stops. Ignore investing for a moment, you have plenty of time to get to that. First, maybe learn about the houses themselves (this book will give you a lot more insight into what makes a house look elegant and timeless vs. like a dated Frankenstein's Monster of bad ideas). Then, if you want to learn about valuing property, consider that the house is not really the point. The land, and the desirability to reside where it is, is what mostly drives real estate prices. If you truly think this is interesting, here's a dense book that will test whether you're actually interested or just think you are. If you are, it's the best book I've ever found about why people want to live where they do.

Learn to keep a budget with discipline (I don't really have a reading recommendation, but that's where it all starts). And, whenever you work and wherever you work, find someone you respect, try to be their right-hand man or go-to person, and volunteer to be successful by finding things that aren't being done or could be done and offering to do them.

There's so much info on different ways to invest. Just know when you invest into individual stocks, your risk is higher but higher risk at a young age is the advantage you have.

Knowledge is Power!

I recommend to start here https://www.investopedia.com/investing-essentials-4689754 and also buy this book. Intelligent Investor. https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661/ref=sr_1_3?dchild=1&keywords=investing&qid=1595806270&sr=8-3

From the great Michael Burry:

>To get started, I’d suggest the following four books:
>
>The Intelligent Investor by Graham
>
>Common Stocks and Uncommon Profits by Fisher
>
>Why Stocks Go Up and Down by Pike
>
>Buffettology by Buffett and Clark
>
>If you read these books thoroughly and in that order and never touch another book, you’ll have all you need to know.

I started by reading The Intelligent Investor and found it informative https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

That'll help with theory. Practically, it's really easy open a brokerage account put money in it and trade (I started with Fidelity). While you learn, consider a low cost fund like a Vanguard retirement fund https://investor.vanguard.com/mutual-funds/target-retirement/#/

It is low cost and spread around a number of different investments (stocks, bonds, etc) and has lower costs to you and lower risks to you than individual stocks or specific areas of investment like technology or healthcare

First Read... A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing

https://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393330338

Alternatively, learn by trial & error/making mistakes and pay the price handsomely.

This book should be enough but if you still want to invest in the individual stocks then also read...

The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

Usually such savings should be in HYSA as an emergency fund. Not in stock market.

Even if this was on top of emergency funds, it should be in more conservative investments like Bogleheads 3 fund portfolio.

Love that question, so few people asks that. I didn’t get any financial education from my family, we were always dirt poor.

My first really awesome book was rich dad poor dad . Taught me what’s a liability and what is an asset. Anecdotal though and uses real estate to explain. On that note, I did enjoy another anecdotal book, however it probably is controversial these days, the art of the deal . Taught me that you can get things done if you push it. While we are on the topic of questionable ethics in business, sales is a part of things. We are always selling or being sold to. Understanding this is key imo, meet Grant Cardone .

Little bit more math based books are obviously have to start with the intelligent investor . Very boring, it was quite the challenge to get through, but damn it puts company’s value into perspective. I really enjoyed a random walk down wall street. Teaches you while charts are questionable sources of decisions.

Now the last category is economics, because it’s a complex system. Easy to start with I think is debt the 5000 years . It explains how money works and maybe a little history or basic economics .

I think these are amazing books even the boring ones :))

Glad to hear that you'd like to learn more!

For some diversity of opinions I'd recommend progressing through these different "levels" of detail/complexity:

1. For beginner level (but still more substantive, data-based than any of DR's investing books): Your Money Or Your Life by Vicki Robin (https://www.amazon.com/Your-Money-Life-Transforming-Relationship/dp/0143115766/ref=sr_1_1?crid=2FES398N9GDZM&dchild=1&keywords=your+money+or+your+life&qid=1605570668&sprefix=your+money+or%2Caps%2C283&sr=8-1)
2. For an intermediate level of investing understanding: I Will Teach You to be Rich by Ramit Sethi (https://www.amazon.com/Will-Teach-You-Rich-Second/dp/1523505745/ref=sxts_sxwds-bia-wc-p13n1_0?crid=1FYGZBLDVNDDD&cv_ct_cx=i+will+teach+you+to+be+rich&dchild=1&keywords=i+will+teach+you+to+be+rich&pd_rd_i=1523505745&pd_rd_r=59f8062c-c3b4-4690-8bd8-1fc228852a25&pd_rd_w=9cn7c&pd_rd_wg=XgIJP&pf_rd_p=1835a2a9-7ed8-48dc-ad07-fcd7527bd2bc&pf_rd_r=N3CSW4GSMBNRPQ9ZDC0E&psc=1&qid=1605570711&sprefix=i+will+te%2Caps%2C-1&sr=1-1-80ba0e26-a1cd-4e7b-87a0-a2ffae3a273c)
3. For super detailed/serious investors: 1) Money - Master the Game by Tony Robbins, or 2) The Intelligent Investor by Benjamin Graham (https://www.amazon.com/MONEY-Master-Game-Financial-Freedom/dp/1476757860/ref=sr_1_1?dchild=1&keywords=money+master+game&qid=1605570757&s=books&sr=1-1) (https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661/ref=sr_1_3?dchild=1&keywords=intelligent+investor&qid=1605570780&s=books&sr=1-3)

Hope this helps!

> Is there book for idiots that would teach me all those things and personal financing? What's the best one to read?

Check out the following:

• Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School by Andrew Hallam
• The Millionaire Fastlane by MJ DeMarco
• The Intelligent Investor by Benjamin Graham

Learn about supply and demand. Further, develop the habit of thinking about what the return is on the time you're investing in any activity.

There are free courses through Khan Academy related to finance, and economics. They also provide courses on accounting. I'm certain there are a ton of other sites with more information.

Experience is the best teacher though, and you don't need much to fire up your learning. If you don't have one, get a credit card with no annual fees. Be careful about them trying to get you to put any type of insurance fees on it, too.

Put $5 on your credit card. Ask yourself: What is interest? What is the interest rate on the card? How much is the minimum payment? How did they calculate it? What is the difference between daily, month, and annual compounding? Do the math. When is it due? How do you pay? What happens if you don't pay? Call up the phone number on the card. Ask them questions. Be detailed. What you should realize is how insane it is to carry to a balance for too long on any credit card. It's bad debt. There's also good debt, such as a mortgage. With a sufficiently matched income, it allows you to own an asset that's of a far higher value through leverage.

Same thing with stocks, and dividends. You don't need much to get started trading in a cash account. Open an account through your bank, or find a brokerage. Compare brokerages. Each one has its own pros, and cons. I've never used it, but Thinkorswim seems popular among many people.

Put in $50. That's the most you can lose. Figure things out: How do you buy? How do you sell? What are the commission fees per trade? Are they fixed, or do they vary based on the number of shares? If you purchased a stock that has dividends, what is the yield? How did you value the stock you bought? What's the company's revenue? What're the earnings? What's the book value? How's book value calculated? Learn to read financial statements: assets, liabilities, debt, equity. This type of information is available for most stocks through the trading platform. You should also know to question the values you're provided because there are ways to fudge things up through creative accounting.

Same thing with business. What are the steps to get started? How do you get incorporated? What does it mean to get incorporated? Learn the structural differences between the personal you, and you as an employee, or owner of a corporation. How do you generate income? Every business is selling something. How do you sell? What are you selling? How much do you have to sell to become profitable? What're your sales targets for each quarter?

It may be overwhelming at first, but pick one thing. Start small, and focus on that until you have the mechanics of how things work figured out. Don't get overconfident, and always bare in mind the risks involved, which is why I'll emphasize again: start small, and take small steps to accumulate knowledge.

Getting experience in these areas will pay off throughout your life. The earlier you start, the further ahead you'll be.

Good luck.

• Go to r/personalfiance, they have links to tons of resources.
• PBS has a Youtube channel run by two financial advisors called "Two Cents" which is all about personal finance. The videos are great, and when they "run the numbers" they are actually doing it correctly.
• In general you have to take more risk to earn a higher rate of return.
• Active mutual fund managers are not able to consistently beat their index benchmarks, so its absolute hubris to think you'll be able to consistently beat the market. You're better off buying and holding.
• When it comes to investing, ignore your irrational lizard brain - behavioral finance has found that we as humans tend to buy high (it's going to keep going up!) and we sell low (OMG! Bail out! Bail out!). In fact you might want to consider doing the exact opposite of what your brain is telling you.
• If you can't understand how an investment product works or how exactly a company makes its money, don't bother investing in it. Stick with what you know. In regards to stocks, you're better off investing retirement savings in index mutual funds or a life-cycle fund (these funds invest in a basket of mutual funds and gradually reduce their risk by holding fewer stock funds and more bond funds as you get closer to retirement).
• Some light reading recommendations:
• The Intelligent Investor
• A Random Walk Down Wall Street
• Tap Dancing to Work (a collection of Warren Buffet's shareholder letters)
• The Automatic Millionaire
• Some heavier reading recommendations:
• Investments (Bodie, Kane, Marcus): MBA level textbook which covers the basics of financial markets, financial products, and portfolio theory/analysis. The authors do have an undergraduate version as well, I just have experience with the graduate version.
• Damodaran on Valuation: swiss-army-knife of financial valuation texts, Damodaran gives a comprehensive overview of the ins and outs in this book.
• Barron's Finance Handbook

Books

You Money Your Life

The 4 Hour Work Week

Stock Investing For Beginners: How To Buy Your First Stock And Grow Your Money

The Intelligent Investor: The Definitive Book on Value Investing.

Webpages

Dave Ramsey

My personal fav: Mr. Money Mustache

Where The Rooster Crows

Financial Samurai

> Can you recommend us some books?

https://www.gatesnotes.com/Books/The-Ride-of-a-Lifetime

https://www.goodreads.com/book/show/11084145-steve-jobs

https://www.amazon.com/Chasing-Excellence-Building-Fittest-Athletes/dp/1619617285

https://www.amazon.com/Why-Nations-Fail-Origins-Prosperity/dp/0307719227

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661

https://www.amazon.com/Road-Ahead-Bill-Gates/dp/0670859133

https://www.amazon.com/Elon-Musk-SpaceX-Fantastic-Future/dp/0062301233/

https://www.amazon.com/Rich-Dad-Poor-Teach-Middle/dp/1612680194

Reading the autobiography/biographies of business founders, leaders and star athletes is like watching a gameplay playthrough of a very popular video game without paying for the game itself or spending a lifetime to learn.

I was younger I read the interesting parts of the home encyclopedia from A to Z.

When I was in kinder my classmates made fun of me that I thought the sun was a star.

It's a person life highlights compressed into 1,000+ pages.

> Struggle ko pa din tumanggi sa mga nanghihiram ng pera kahit wala rin ako masyadong pera.

Learn to say "no". It helps that they dont see your social media account with a new gadget.

I bought myself new Herman Miller chairs right after lockdown and never posted it on Facebook as I've had dozens of classmates asking me for a loan before it arrived.

I refereed them to banks as it's a waste of my time to try to collect.

I'm downvoting because almost all your links have affiliate or invite codes in them, and it looks like this is your first post on a brand new account. Mods, not sure what the policy on this is.

I'm fine with people making money off of clicks, but you should be upfront about that in your post.

For those that are interested, here are the links without the referrer id or embedded invite.

Stock Trading - WeBull - https://www.webull.com/

Acorns - https://www.acorns.com/

The Intelligent Investor

A Random Walk Down Wall Street

Swing Trading For Dummies

Mastering The Trade

Coinbase Stellar Lumens

The three sex offender resources he listed don't have any embedded referrer ids or codes.

Well if you like Warren Buffett, then there's a podcast on iTunes that has all the shareholder meetings. https://podcasts.apple.com/us/podcast/berkshire-hathaway-annual-shareholder-meetings-since/id1445276006

I'd pay special attention to the bonus episode by Charlie Munger about Misjudgment.

Then if youre looking for things to read by Buffett, there's only two options: shareholder letters and his articles. He's never written a book. I think people read Warren Buffett Way and think he's the one peddling that garbage. Anyway. Letters-

https://www.berkshirehathaway.com/letters/letters.html

Those only got back to 1977, so if youre the obsessive type you may want to buy the kindle that goes back to his pre-Berkshire days with his partnership.

https://www.amazon.com/Berkshire-Hathaway-Letters-Shareholders-2017-ebook/dp/B00DUM1W3E/ref=sr_1_2?crid=YEQR3YQCLYPA&dchild=1&keywords=berkshire+hathaway+letters+to+shareholders&qid=1599689457&sprefix=berkshire+hath%2Caps%2C182&sr=8-2

As for articles, the best thing is probably to grab this compilation-

https://www.amazon.com/Tap-Dancing-Work-Practically-Everything/dp/1591846803/ref=sr_1_1?dchild=1&keywords=tap+dancing+to+work&qid=1599689398&sr=8-1

Though you can probably find the more famous articles online for free. All in tho, if you bought those two ebooks off Amazon it would cost less than a 24-pack of beer, so there's worse ways to spend your money.

Then he recommends only two investment books with any degree of consistency, though he has thrown bones towards others. Those are Intelligent Investor-

https://www.amazon.com/Intelligent-Investor-Definitive-Investing-Essentials/dp/0060555661/ref=sr_1_2?dchild=1&keywords=intelligent+investor&qid=1599689767&sr=8-2

And Common Stocks and Uncommon Profits

https://www.amazon.com/Common-Stocks-Uncommon-Profits-Writings/dp/0471445509/ref=sr_1_1?dchild=1&keywords=common+stocks+and+uncommon+profits&qid=1599689816&sr=8-1

I wouldnt recommend either book to a beginner, but if youre double majoring in business and looking to learn, there ya go.

He's also thrown Peter Lynch a bone and Seth Klarman. Peter Lynch has three books you can find easily enough plus he has some funny lectures on youtube. Seth Klarman's book Margin of Safety is out of print.

If youre more into books on tape, I know Common Stock and Uncommon Profits is on youtube, but Id recommend reading a book rather than listening to it if you really want to learn from it and not just be entertained.

One last word of warning, everyone claims to follow what Buffett says, but it's really just like Christianity. And I dont say this to be sacrilegious, so pardon me. But everyone claims to be a Christian, but most people don't actually go to church or respect their father and mother or dont lie, etc. It's just a terms & service agreement that our society just kinda blindly checks. Well that's how ubiquitous Warren Buffett's name is in the investment world. Everyone claims to follow him, and everyone quotes him, but most people dont listen to a word he says. It just goes in one ear and out the other. So if you can actually listen to him, then you should do very well.

Some good starter resources:

• The Bogleheads' Guide to Investing
• The Little Book of Common Sense Investing
• The Intelligent Investor (a bit dated)

Good YouTube resources:

• Ben Felix
• Paul Merriman
• Index Fund Advisors
• The Plain Bagel

I also recommend following Vanguard's whitepapers. Some that I tend to bring up:

• Vanguard's approach to target date funds
• The case for low-cost index-fund investing
• Vanguard's framework for constructing diversified portfolios
• Global equity investing: The benefits of diversification and sizing your allocation
• Getting back on track: A guide to smart rebalancing

To go deeper, I also highly recommend MIT OpenCourseWare, which has a lot of stuff on finance. Basically a college education for free, without all those tiresome exams! For example, Finance Theory I goes into things like pricing assets and calculating risk.

I recommend staying away from Dave Ramsey. He's done good things to increase awareness about investing, but I don't think his advice is right.

Yes, predictably irrational is a nice one. I read it a little over a year ago, and went through much of it a second time on audio just a few weeks ago. 

We see the phenomenon of demand increasing with price very clearly in e.g. the stock market. 

When prices have been rising and people's assets have been going up, more and more people want in on the deal, and keep buying more as prices rise. As if it's gonna keep rising forever. And so you get bubbles. 

Where people imagine real estate can't fail ("Mortgage Backed Securities" (MBS) being a major part of the 2008/2009 crash)—or that tech companies are worth paying absurd p/e ratios for (100x was apparently not uncommon in the tech bubble around 2000-2002.) 

I got more and more interested in these things when I saw how much they tie into human psychology, society, technology, history and other things I've been interested in for a long time. Even Zen and spirituality (which I was very into in my younger days), where you have continual swings above and below the Zen state, the rational level. 

Anyway. You asked for a list of the most revelatory sources I've found on this. These ones come to mind:

• How The Economic Machine Works by Ray Dalio (30 minute video:) — I've watched this 5 times in full, at least. It's awesome.
• Principles of Economics by Greg Mankiw — Great intro on basic econ.
• Intelligent Investor by Ben Graham — The great classic praised by Buffett
• Security Analysis by Ben Graham — 2nd edition recommended by Buffett. Longer and heavier read than Intelligent Investor. Start with Intelligent Investor. Move on to this if you get through.
• A Man for all Markets by Edward Thorp — Entertaining and insightful. Explains behavioral econ, inefficient markets and overlaps with science in a clear and practical way. Also recommended by Munger.
• Charlie Munger's "Psychology of Human Misjudgment" — Mentioned above. I listened to this 75 minute talk more than 50 times this year, while walking, cooking etc. It's on spotify too.
• Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger. — Perhaps my favorite book of all time, for business, life, psychology etc. The amount of wisdom in this one book is almost unbelievable.
• The 50 Annual Letters to Shareholders by Warren Buffett. — Recommend getting the hardcover. For the lightweights you can get the "Essays of Warren Buffet", a condensed version ordered by topic. Nothing much, just maybe the greatest wealth-builder who ever lived explaining his key decisions annually through half a century.
• Berkshire Hathaway Annual Meetings on Youtube, 1994-2019 — I'm about Halfway through these. A goldmine from two of the wisest people and investors who ever lived.
• John Maynard Keynes' General Theory of Employment, Interest and Money — Particularly chapter 12. The book is not an easy read overall. But very elegant and instructive imo. Had to reach a certain stage before it was intelligible.
• Influence by Robert Cialdini — Classic. Getting more into the psychology
• Science and Sanity by B.F Skinner. — Behavioral Psychology classic. Finished this recently. Marvelous book.
• Common Stocks and Uncommon Profits by Phil Fisher — Amazing and practical for overall business understanding. Entertaining and with many parallels to life in general, investment philosophy etc. Warmly recommended by Buffett.
• The Tao of Charlie Munger — I enjoyed this on audible
• University of Berkshire Hathaway — Another nice one on audible. Good intro to Charlie and Warren
• Wealth of Nations by Adam Smith — Started this a few days ago and it's blowing my mind. The OG when it comes to explaining Supply and Demand, which in many ways is the fundament of most or all things business. Highly recommended. What a genius. And written almost 250 years ago.
• Evolutionary Psychology by David Buss — Not directly related to econ per se. But I find it useful to always think in evolutionary terms when it comes to explaining human behavior. This is a treasure when it comes to psychology. Shaped my thinking in so many ways.
• Breakthrough Advertising by Eugene Schwartz — This is an underground treasure that I believe is worth the hype. It's about copywriting, but has amazing and keen insights on markets and psychology in general. This was my bible for a while last year. If you do a google search, you can get the new hardcover shipped to you for about $150, which is what I did. I've read it all the way through like three times.

Hope this might be useful to someone.

Cheers.