Scott H Young

Friday Links 08-01-11


From the Web

Open Source Blogging – Feel free to steal from ZenHabits. In fact Leo, author and owner of ZenHabits, is encouraging it. He’s decided to make all of his content (including his $10 e-book) without copyrights. I’m interested in seeing how this will pan out. While I’m a fan of actions to lower the copyright and patent restrictions, many of the supporters of abolishing all intellectual property law seem to just want to get something for nothing.

From the Archives

The Seven Major Beginner Mistakes – Being a beginner at almost everything, I’ve made a lot of mistakes. Here are some of my observations about some of the most common mistakes you might not realize you’re making.

From the Shelf

The Intelligent Investor – I’m reading the revised fourth edition of this classic investing book that was originally released in 1973. As with almost any other reasonable source I’ve heard on investing, Benjamin Graham recommends index funds for the average investor. An index fund tries to match (not beat) the market and therefore has lower fees and higher returns.

Graham obviously isn’t a believer in the efficient market theory which suggests that it’s impossible to “beat the market” without simultaneously taking on more risk. I’ve heard arguments from both sides, but Graham believes that so-called “value investing” (buying more when stock prices are cheap) is the best strategy. I’m still really green when it comes to investing, but I hope to read a few dozen more books in the next year or two when I can start more serious investing.


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7 Responses to “Friday Links 08-01-11”

  1. Rahul says:

    Consider adding “You Can be a Stock Market Genius” to your investing book list. It’s great, and I think you will find it very useful.

  2. tracy ho says:

    Great to know that,

    Thanks A lot,

    Tracy Ho
    wisdomgettingloaded

  3. jd says:

    If you haven’t hit these books already, consider:
    1. A Random Walk Down Wall Street
    2. Irrational Exuberance

    With random and irrational, how could you go wrong?

  4. Scott Young says:

    JD,

    A Random Walk Down Wall Street is another one on my list. I’m possibly taking my second major in business school with finance (entrepreneurship/small business is my first).

    -Scott

  5. DermDoc says:

    Just started reading the Intelligent Investor for the first time last week. The way things are going lately, I think there are gonna be plenty of bargain stocks to choose from to start a portfolio. Good suggestion to have people pick up this classic this year.

  6. Chris O'Donnell says:

    The best book on equity investing that I have ever read is by John C Bogle called the Little Book of Common Sense Investing.

    http://www.amazon.com/Little-Book-Common-Sense-Investing/dp/0470102101

    I am convinced after reading his book that the vast majority of moneys you put into equities should be invested in an index fund. Bogle explains why and his reasoning is incontrovertible.

    Can’t recommend this book enough to you Scott

    Cheers

    Chris

  7. Scott Young says:

    Chris,

    Basically every resource I’ve read has said index funds are the way to go with few exceptions.

    -Scott

Debate is fine, flaming is not. Pretend that this comment form is a discussion taking place in my house. That means I enjoy constructive criticism and polite suggestions. Personal attacks, insults and all-purpose nastiness will be removed especially if it is directed at other readers.

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