So do you mean that when I buy books at borders, there is a slight chance that they might be used?

 

Employees are given the opportunity to check books out like a library and return them, in mint condition. My girlfriend goes through about 2 books a week. So I guess the answer could be yes. The books you get may have even been in my bathroom.

 

My only hope is that your bathroom is cleaner than mine!

When I was starting out learning about investing and investments, I used to attend these free seminars given by financial services places. The information was usually less than useless, but I did get a free dinner every time. Going to these things sharpened my ability to distinguish good information from bad information.

 

The best book I read about money was "The Millionaire Next Door". It contains very little specific advice about investing, but it examines how wealth is made.

 

I always enjoy the monkey beats analyst stories. I certainly wouldn't recommend that somebody just watch the lightning round and build a portfolio of every recommendation. I'd even go as far to say that any source of stock tips should be regarded lightly. The show is hyped up for ratings, and when you factor in the rest of his media appearances, the man isn't spending much time researching every stock that he talks about. So, take what he says with a grain of salt.

The thing I like about Cramer's book is that he explains many of the major factors that will play a role in a stock's performance. It was thought out and would give a new investor the basic building blocks to start making their own decisions. Simple things like sector rotation, earnings multiples, growth and margins are discussed and the importance of them laid out. He mostly talks fundamentals with some obvious disdain for technicals. After reading his book, I think a new investor would be better prepared to look through a list of stocks and determine if one was good enough to risk their money on without subjecting themselves to excessive risk.

I'm sure that there are better books out there and sites on the internet. Sorting through the tons of information is time consuming and potentially very costly. I just happen to like Cramer's book because it is one of the better written ones in my opinion and readily available. Fool.com has tons of good information, but sorting through it and using it effectively will be daunting for a new investor.

 

Kiplingers Guide to Investing Success

Avoid any books with the words "millionaire" and "rich" like the plague.

fsu

 

The Millionaire Next Door is not one of these books to avoid. It's more about taking a rational approach to building wealth, such as not getting sucked into keeping up with the Jones's.

The meaning of the title comes from the fact that you wouldn't suspect some of the true millionaires out on the street, because they just drive average cars and dress in average clothes, but they've got a comfy retirement socked away in their portfolio. And they may literally be your next door neighbor, you know, the guy that drives the 5 year old Taurus.

 

So true. I've glanced at that book and it seems filled with sound advice. Living in an affluent area, one sees that every other car on the road is a BMW, Jaguar, Mercedes - also see lots of Ferrari's etc. However I know for a fact that some of those people are mortgaged to their limit in order to keep up appearances. I also know of more than quite a few people with "bank" that drive 10-year old Toyota's, or maybe an old Beemer or pick-up truck.

 

I used to love seeing that. I worked retail for a long time, we had stores in various areas in St. Louis. The leader in declined credit cards was the store in the most affluent neighborhood.

On the other end, I had a guy fly a CJ-2 into my FBO one night and he was the biggest tightwad I've ever seen. First, his plane is registered in the Bahamas to avoid US Taxes. Next, he whines about getting a fuel discount becuase he's taking 60 gallons a side (Please, we're already $1.30 cheaper than the other guys), calls 6 hotels for the cheapest rate and complains about the ramp fee. I guess he didn't get rich by spending his money

 

Or maybe the airplane wasn't his.....
...he's just the pilot...