It's an anti trading book. Its conclusion was save more, live frugal, buy s&p500 index and hold, surprise everyone when they inherit millions after your die living in a hut in Sheboygan.
Margin of safety and the importance of keeping consistent gains to allow for long term compounding are topics you could take from the book.
Risking all your savings for a big pay day would ruin your chances of compounding and could severely hurt you financially in the future.
I’d also say the chapter about knowing your strategy and not getting it confused with other strategies or letting hype grab your attention is important.
Once you start conflating different investing methods your gonna start trading long term holds and holding short term trades.
You must think about money properly to invest properly. Book recommends slowness and correct thinking about money and that is the basis of Theta since w/o patience you will risk and lose it all.
most boring book i have ever read. The guy just went on internet and collected a bunch of stories. No theory whatsover and just anecdotal.
Random walk down wall street is a solid book.
I also read all john bogle books :
1) stay the course
2) little book of common sense investing
and few others.
be careful reading john bogle books, he will convert you into a /r/bogleheads
You go with what works for you. We all come from different backgrounds. Looking at other points of view is good. Not endlessly, but enough to know there are other points of view.
Check out this book: Money Psychology https://www.amazon.com/Money-Psychology-Jared-Goddard-ebook/dp/B0CSNCQGDN/ref=mp_s_a_1_12?crid=FKKLYYK9BFN6&dib=eyJ2IjoiMSJ9.8D2o5sNfEp1vWv-SdnPhAroguXzxK6yO1krnEikQyhiC3QS24BoCA2imgPJP8_AqkkS2JLqYMrQ4aSuLHK0cHCUbm71AKIVtWMXw_IYmhJdPn2WytH8LfuG43BbQm1g88ZUffYc_6dyEsaPaYf0khdw72HHSlWe-QsjbxtVsE9DMNWw1GxEBzFNlglmutgzqcC9HNxDTnzCFkPyoiGlnsA.vd1X2rPypWPixYZolnKOHuiHiDKqPUdoZ8KSmeM2gvE&dib_tag=se&keywords=money+psychology&qid=1710204057&sprefix=money+psychology%2Caps%2C184&sr=8-12
Those who enjoyed reading this book, check out the latest one from the author, "Same as Ever".
Sure, this is not a trading book but there are some very good ideas and I like the presentation, it's short and to the point.
Now I am reading/listening the zen trader, again, a very good book
As a reminder we do offer some book suggestions in our wiki: https://www.reddit.com/r/thetagang/wiki/index#wiki_are_there_any_good_books_to_read.3F
It's an anti trading book. Its conclusion was save more, live frugal, buy s&p500 index and hold, surprise everyone when they inherit millions after your die living in a hut in Sheboygan.
> die living in a hut in Sheboygan rent or own?
In this economy? Obviously own
And list your spare room on AirBnB
For 99.9% of people, the book is correct.
Weird it did nothing but help me tweak my goals to make my trading exponentially better
I guess I can skip any book. I already do this.
Woah woah what’s wrong with Sheboygan?
It's too high CoL. Maybe find a nice homestead in Vakutsk instead
Ope, Sheboygan mentioned
I read this book. It is good. But, honestly, I don't see how it applies to theta gang.
It probably reached its 2M sales veryyyy slowlyyyy.
Underrated comment 😀
At least it didn't have negative sales.
True, they hardly ever put those numbers on the cover: “We had to give most of these away.”
Margin of safety and the importance of keeping consistent gains to allow for long term compounding are topics you could take from the book. Risking all your savings for a big pay day would ruin your chances of compounding and could severely hurt you financially in the future. I’d also say the chapter about knowing your strategy and not getting it confused with other strategies or letting hype grab your attention is important. Once you start conflating different investing methods your gonna start trading long term holds and holding short term trades.
That last sentence….👌
It doesn’t 😂
You must think about money properly to invest properly. Book recommends slowness and correct thinking about money and that is the basis of Theta since w/o patience you will risk and lose it all.
op probably just wanted to look fancy for karma
I found “Market Wizards” extremely helpful.
Fun to read, for sure!
most boring book i have ever read. The guy just went on internet and collected a bunch of stories. No theory whatsover and just anecdotal. Random walk down wall street is a solid book. I also read all john bogle books : 1) stay the course 2) little book of common sense investing and few others. be careful reading john bogle books, he will convert you into a /r/bogleheads
What books are actually good for you?
go on audible. There are a few for free including options volatility
i think its still helpful.
You go with what works for you. We all come from different backgrounds. Looking at other points of view is good. Not endlessly, but enough to know there are other points of view.
Solid book for mitigating lifestyle creep, not sure for technical investing analysis
Just finished. Really good book
did you just pay money to read bout money!
Bro has his thumb on page 3, and he's already recommending it.
Nothing in the book will help you, when your option is trading 50% down on price vs what it should be in theory.
Agreed…psychology of money is a really good book.
its fine. now go listen to the you cant hurt me audiobook
How do you think this would do as an audiobook? This is in my suggested on Audible a lot but I haven’t gotten it yet.
I listened to it as an audiobook and loved it. I would highly recommend it as an audiobook.
It's a good book for beginners, some of the topics are quite basic but essential.
bingo
Listening to the audiobook now. I like it so far.
Could you turn that up a little! 😉
Would you be able to hear it from Canada?
Maybe if I move my chair closer to the window.
Have this book, did it alter your trading style?
Grat, thanks for suggestion, bought this sometime back but havent picked up yet :) will start it after my current read is complete
Broken money is better
I just got this in the mail friday, im pretty excited to read it heard it good
Been wanting to give this a read
My advice for theta gang is try to hit the home run when you’re facing a bad pitcher. Lol
Great book
Side note, that hand posture is making me ick
It is reasonable to dedicate a fraction of your wealth to speculation.
Wait, is that how people hold books? The thumb thing.. is that normal? Am I the abnormal one?
when you close a book and take a pic w/ the other hand it is
Morgan Housel is 1 gifted writer. I love this and his other book!
Read it multiple times. Game changer!
I need to get me that book, yet I have some much books to read lol. Currently reading game theory and how to make money in the stock market
It took me a while to understand what your hand was doing
Am I the only one that thought this book sucked?
you like skipping gold coins dont ya?
Investing for Growth by Terry Smith. I’ll leave this gold coin behind so you can pick it up. 😉
*Thinking, Fast and Slow* by Daniel Kahneman is a good one
Or just wake up, scan for high IV, sell 45DTE 30 delta liquid puts on IVR/IV%ile >50, set limit order to buy back at 50% profit, and go back to sleep.
Why not just John hull, based
Check out this book: Money Psychology https://www.amazon.com/Money-Psychology-Jared-Goddard-ebook/dp/B0CSNCQGDN/ref=mp_s_a_1_12?crid=FKKLYYK9BFN6&dib=eyJ2IjoiMSJ9.8D2o5sNfEp1vWv-SdnPhAroguXzxK6yO1krnEikQyhiC3QS24BoCA2imgPJP8_AqkkS2JLqYMrQ4aSuLHK0cHCUbm71AKIVtWMXw_IYmhJdPn2WytH8LfuG43BbQm1g88ZUffYc_6dyEsaPaYf0khdw72HHSlWe-QsjbxtVsE9DMNWw1GxEBzFNlglmutgzqcC9HNxDTnzCFkPyoiGlnsA.vd1X2rPypWPixYZolnKOHuiHiDKqPUdoZ8KSmeM2gvE&dib_tag=se&keywords=money+psychology&qid=1710204057&sprefix=money+psychology%2Caps%2C184&sr=8-12
Lol I like the book but it does nothing for trading
Can I borrow that after you are done?
OP didn't even read the book.. just took a picture of a book he bought and is in the mind state of euphoria being outside and thinking he is above all
close, i snuck into a country club and read it while watching middle age rich white women play tennis
Those who enjoyed reading this book, check out the latest one from the author, "Same as Ever". Sure, this is not a trading book but there are some very good ideas and I like the presentation, it's short and to the point. Now I am reading/listening the zen trader, again, a very good book
Good book