This post created to capture some of the more delightful literature on investment and related topics (money, etc).
Know of any???
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“Rich Dad Poor Dad” is good read. Gives you a different perspective.
I have tried a few DVD lecture series from “The Teaching Company” – not for investment or business though. I have come to believe that their teaching and delivery qualities are really nice. So based on my experience I think their business series courses could be something to consider. They usually have Sale Prices on certain topics… you could end up getting a 24 hr lecture series in DVD for $69 only.
I have heard “The Intelligent Investor” is a very good book. I need to read this book someday…..
I recently read a few chapters of a book called “Black Swan”. Note that its not really a book on investment or finance as such but the thery that the author is presenting has an impact of investment decisions. The author is Nasim Taleb and he is a professor and also an analyst i believe in a financial firm. The key idea of the book is that today’s world is much more intertangled and complex and one event somewhere affects a whole of things and lots of times it creates a domino effect. For example the rogue trader in Europe who did a multi-billionn dollar fraud and that resulting in a world wide sell-off in the stock markets.
The name for the book comes from the story that at one point people thought black swans don’t exist and they thought its impossible (almost) that they exist. Then some of those people discovered the place Australia where they found black swans. So the moral of the story is that there are ton of events these days that people CANNOT predict and keep in mind the sharpest and the smartest of the people can neither do that. Look at the following events……Internet book, 911, 100% or more increase in housing prices in US in 3 years, the outcome of the IRAQ war, ipod, google etc..
So the important thing is what to learn from this book. One practical thing that I did was that instead of delaying my decision for a long time, I finally bought a relative big fat life insurance policy for myself so if something happens to me, my family is sort of covered because my death is a black swan that can happen even though I don’t see it coming. On the investment front, the author has some suggestions of putting lot of money in very safe places and small amounts in extremely aggressive places (which I am not sure how practical it is in real life for everyone to do though).
the previous comment was from me 🙂
As Manish mentioned Life Insurance is a very imporant financial planning decision one has to make for any unfortuante thing that may happen to us….and can cover our loved ones…
Along with Life insurance, a Will and Revokable living trust are very important documents one should have to cover our families….
Some basic difference between a will and living trust are:
http://www.associatedcontent.com/article/375399/whats_the_difference_between_a_will.html
Very correct. Dont put off buying a life insurance apart from the one provided by your employer.
A life insurance is an important part of investing and any financial advisor will advise you to get one if you dont have one already.
‘The Teaching Company’ is offering a 36 lecture series on Economics, 3rd Edition on DVD for 99$ (orig price $374). If anyone ends up buying these, consider me next in line for the DVDs 😉