Best Investment Book of All Time

Frederick Foresight said:
As an aside, and as only an observation since you regard O'Leary's book as The Best Investment Book of All Time, it is interesting to note that the purveyor of such wisdom was not able to parlay it into the management and performance of his own investment funds.
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Not interesting at all -- nor the point.
Some of the wisest people on Earth are right now, the poorest.
If you yourself have made more than your parents, do you account them to be dummies?

Having "Vision" does not secure you any riches.
But *not* having vision? Ewwwwww, that'll cut down the probabilities significantly.

If you can't see immutable *truths* around you, you're hurting yourself and those who might depend on you.

"What is your cultural bubble?" might be another way to put it. My own bubble, is "Western Civilization" -- even more particularly, "US domestic culture/habits"..... But for my trading, nobody gives a SHIT about what car I drive, whether I smoke the right cigarettes (Rolling Stones) or whose shirts I wear (David Bowie). I *wish* I had the abs I had from just 10 years ago. Dammmmnnnn. But nobody cares! Where are my short positions?? Whither the market?? WHEN is expiration?? WHAT IS NET LIQ.?? I have to fight my own bubble every day.

I trade "other people's money" and that is a responsibility that I take MUCH more seriously than trading my own. I have two computers, *and* a high-ish power laptop. I have cable internet, free local WIFI, and a T1 line at the library up the block. (Important as, when both AT&T and Bright House were out for 4 hours, the T1 line was up up up.) I have an effective remote office, on a *different* cable line, a bus-ride away (in case the car should break down), should I ever need it..... I don't mean to sound paranoid, but THE COLD HARD TRUTH IS that nobody will care if I've had a hard day, or a tree fell on my line, or a virus blanked my computer, or my car has a flat, or or or or.....

The market doesn't care about my fashion choices, nor any excuses I might offer. It rewards justly, and ONLY on, my ability to accept and to farm-off risk. That's it.

But that's a lesson that A LOT of people have never heard. It's a cold, *hard* truth, of which most are ignorant, until that now-clichéd moment, when someone mutters, "This shit just got *real*."

Yeah well, surprise, Cupcake -- it was *always* real.
 
tommcginnis said:
Yeah well, surprise, Cupcake -- it was *always* real.
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tommcginnis said:
I'll throw my two cents in, with
http://kevinoleary.com/financial-literacy/ Kevin O'Leary's Cold Hard Truth.
There is Reality, and there is our Cultural Overlay.
The closer one's cultural overlay comports to reality, the better one will do.
And very much to the degree it does not, the more you will have "issues."
As I'm about to lay all this out, I discover O'Leary and Shark Tank and all that -- AND O'Leary's book.
I was/am impressed, and am a big fan.
I don't know of anything else like it.
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Okay, Cupcake, let's get real. Here's what you're essentially saying is the greatest advice you ever read in an investment book: There is reality and then there is bias; the closer that your bias aligns with reality, the better you'll fare.

Wow, someone get me a pencil.

And you paid how much for this book?
 
Frederick Foresight said:
Okay, Cupcake, let's get real. Here's what you're essentially saying is the greatest advice you ever read in an investment book: There is reality and then there is bias; the closer that your bias aligns with reality, the better you'll fare.

Wow, someone get me a pencil.

And you paid how much for this book?
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"OH GREAT COMEBACK!"
 
tommcginnis said:
Not interesting at all -- nor the point.
Some of the wisest people on Earth are right now, the poorest.
If you yourself have made more than your parents, do you account them to be dummies?

Having "Vision" does not secure you any riches.
But *not* having vision? Ewwwwww, that'll cut down the probabilities significantly.

If you can't see immutable *truths* around you, you're hurting yourself and those who might depend on you.

"What is your cultural bubble?" might be another way to put it. My own bubble, is "Western Civilization" -- even more particularly, "US domestic culture/habits"..... But for my trading, nobody gives a SHIT about what car I drive, whether I smoke the right cigarettes (Rolling Stones) or whose shirts I wear (David Bowie). I *wish* I had the abs I had from just 10 years ago. Dammmmnnnn. But nobody cares! Where are my short positions?? Whither the market?? WHEN is expiration?? WHAT IS NET LIQ.?? I have to fight my own bubble every day.

I trade "other people's money" and that is a responsibility that I take MUCH more seriously than trading my own. I have two computers, *and* a high-ish power laptop. I have cable internet, free local WIFI, and a T1 line at the library up the block. (Important as, when both AT&T and Bright House were out for 4 hours, the T1 line was up up up.) I have an effective remote office, on a *different* cable line, a bus-ride away (in case the car should break down), should I ever need it..... I don't mean to sound paranoid, but THE COLD HARD TRUTH IS that nobody will care if I've had a hard day, or a tree fell on my line, or a virus blanked my computer, or my car has a flat, or or or or.....

The market doesn't care about my fashion choices, nor any excuses I might offer. It rewards justly, and ONLY on, my ability to accept and to farm-off risk. That's it.

But that's a lesson that A LOT of people have never heard. It's a cold, *hard* truth, of which most are ignorant, until that now-clichéd moment, when someone mutters, "This shit just got *real*."

Yeah well, surprise, Cupcake -- it was *always* real.
More...

The best trading *movie* of all time...... (Besides 'Trading Places')
 
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