The most prominent of investors devote enormous amounts of time into reading. Warren Buffett and Mark Cuban reported devoting over 3 hours of their day to reading and considers this as a key habit to their success. Reading also produces benefits that go far beyond just achieving financial success – improved sleep, lower stress levels, and improved vocabulary are just some benefits. Consider this a sign for you to pick up a book and start learning! Here are some books to start with that are perfect for harnessing that investing mindset 🤓
3. The Richest Man in Babylon
Super easy to read fiction book educating readers on the fundamentals of saving through a collection of parables in the Babylonian times. This book emphasizes the importance of paying yourself first and automating this saving process which I’m sure you already do through your Raiz account! Otherwise, learn how to set up a recurring deposit here.
“I found the road to wealth when I decided that a part of all I earned was mine to keep. And so will you.” – George S. Clason
2. Think and Grow Rich
This book taps into our psychological inhibitions and provides tips on how to master our subconscious and inspire personal and financial growth. This book is perfect for setting the stage and unleashing those “burning desires”. The principles taught in this book is also perfect for those just wanting some direction and in developing that entrepreneurial mindset.
“Every man is what he is, because of the dominating thoughts which he permits to occupy his mind.” – Napoleon Hill
1. Random Walk Down Wall Street
A bestseller written by economist and former Wall Street portfolio manager Burton G. Malkiel which explains in layman’s terms the intricacies of security analysis. Malkiel has a strong preference for investing in a passively managed index fund or index investing. He is critical of fundamental and technical analysis techniques which are methods that analysts use to value stocks. He describes stock price movements as resembling that of a “random walk” and deems active stock selection as inferior to passive index fund investing. This is a good practical read for those just beginning to understand the fundamentals of passive investing and how it’s different to active stock selection.
“Two-thirds of professionally managed funds are regularly outperformed by a broad capitalization-weighted index fund with equivalent risk, and those that do appear to produce excess returns in one period are not likely to do so in the next.” – Burton G. Malkiel
Prices and reward amounts in this article valid as of 11/5/21.
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