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From: The Investment U
E-Letter [IUE@agoramail.net]
Sent: Thursday, April 11, 2002 2:30 PM
To: Jody Madron
Subject: #128- What to Read... to Become a Better Investor
#128- What to Read... to Become a Better Investor
THE INVESTMENT U E-LETTER
Thursday, April 11, 2002
* * * * *
WHAT TO READ... TO BECOME A BETTER INVESTOR
By Dr. Steve Sjuggerud
Someone once said to me, "If your mouth is moving, you can't be
learning." I couldn't agree more - being a voracious reader is
one of the few ways you can get a leg up on the competition.
So, at the request of one of your fellow Investment U'ers, today
I present you with a small list of my most recommended books for
you to get a leg up in your investing. I chose this list based
both on the value of the information as well as the
ease/entertainment of reading, since investment books generally
bore most people to tears.
For newcomers, I always recommend the best, most fun-to-read
version of exactly how economic freedom creates wealth: "Eat the
Rich," by humorist P.J. O'Rourke. Beginners and experts alike
can learn from this little gem. It is the FIRST of the three
books I consider ESSENTIAL reading for all market watchers. The
other two are included below.
HOW THE WORLD WORKS... AND HOW TO PROFIT FROM IT FOR LESS THAN
$100
When it comes to trading and investing, here's what I believe is
the best $90 you can spend today. Together, these six books
explain how the world works and how to profit from it:
1. "Reminiscences of a Stock Operator" by Edwin Lefevre, 1923
($14)
You will undoubtedly become a more profitable trader by reading
this book. It's the highly entertaining tale of Jesse Livermore,
one of the most successful traders in history, told in first
person - in a swashbuckling style. You're having so much fun as
you read this book; you don't even realize you end up learning
many of the infallible trading secrets that 99% of traders never
learn. If you only read one book about trading, read this one -
it is ESSENTIAL reading book number TWO.
2. "Economics in One Lesson" by Henry Hazlitt, 1946 ($8)
Want to know how the world REALLY works? This book explains how,
using easy-to-understand examples. Starting with a simple story
about a broken window, Hazlitt explains the One Lesson of
Economics. It is all you need to know. After reading this
heavily Austrian-influenced book, you'll quickly be able to punch
holes in most government schemes. At $8, you can buy copies for
your local political leaders too.
3. Martin Zweig's "Winning on Wall Street," 1986 ($12)
Who do the world's most successful traders and money managers
look to for advice? Wall Street's most famous number cruncher,
Martin Zweig. It's amazing that such a great mind could boil his
life's work down into terms that stock market beginners can
understand. Perfect for beginners and experts alike. You'll
know what to buy, when to buy and when to sell. What more can
you ask for?
4. "Market Wizards: Interviews With Top Traders" by Jack
Schwager, 1989 ($12)
A great way to learn how to be successful in trading is to learn
from the best. This book has in-depth interviews with 17 of the
world's top traders. These folks all turned pittances into many
millions of dollars in their careers. And one of the top traders
interviewed is OC Investment Advisor Dr. Van K. Tharp - the only
trading coach interviewed. Buy it.
5. "Trader Vic II - Principles of Professional Speculation" by
Victor Sperandeo, 1994 ($20)
This book ties it all together... and was written by a trader
whose documented 12-year track record was over 70% a year -
without a losing year in that period. This book is a bit denser
than the rest -- with four sections (Economic Fundamentals,
Technical Analysis, Options Trading, and Trading Psychology).
From a free-market perspective, Vic clearly explains how he's
made a pile of money... and how you can too!
6. "Trade Your Way to Financial Freedom" by Van Tharp, 1999 ($24)
Van has personally influenced my trading style. There's an old
saying, "There's nothing worse than making the right call AND
losing money on it." I'd venture to say that Van's teachings
could help you make the wrong call and still MAKE money. This
book is ESSENTIAL market success book number THREE.
STILL MORE BOOKS FOR YOUR SUMMER READING LIST...
Other good recent stock market books include Jeremy Siegel's
"Stocks for the Long Run" and "A Random Walk Down Wall Street" by
Burton Malkiel.
The best book about stock market bubbles is the recent "Devil
Take the Hindmost" by Edward Chancellor. Destined to be a
classic.
If you want to know everything you need to know about technical
analysis, for real (not hype) in plain English, the bible of
technical analysis is "Technical Analysis Explained" by Martin
Pring. If you're planning to use this to be a day trader or
swing trader, you absolutely must read "Financial Freedom through
Electronic Day Trading" by Van Tharp and Brian June before you do
anything.
For building your own trading system, I think "The Research-
Driven Investor" by Tim Hayes is your best choice by far - to the
point that everything else is garbage.
The best real estate stock book is "Investing in REITs" by Ralph
Block. The best short-selling book (out of the very few) is "The
Art of Short Selling" by Kathryn Staley. The best historical
reference is "The History of the American People" by Paul Johnson
(this one is a "must-have").
Magazines and newspapers I subscribe to include Forbes, The
Economist, Wired, The Wall Street Journal, and the Financial
Times.
KEEP READING... AND LEARNING
Wow - is that enough to read? I should think so! If it seems
overwhelming, simply start with the three essential books ("Eat
the Rich," "Reminiscences of a Stock Operator," and "Trade Your
Way to Financial Freedom") and go from there.
While you read, feel free to contact me, and give me your
thoughts and suggestions. And if I missed something here, or
there's something in particular that I didn't mention that you
want to learn more about, let me know!
* * * * *
TODAY'S IU CRIB SHEET
**A simple, yet often-overlooked way to become a better investor
- and out-smart the competition - is by becoming a voracious
reader. See if the titles listed above are in your investment
library... and compare the periodicals you read to the list
provided above. It's important for investors to find the time to
continue learning. Ask yourself whether or not you are reading
enough on a regular basis to stay ahead of the curve.
**Have you read the three essentials I described for you above?
If not, I urge you to get copies of "Eat the Rich,"
"Reminiscences of a Stock Operator" and "Trade Your Way to
Financial Freedom" and begin reading today! Make sure you have
read these three books before reading any other investment book.
Most of the books I've mentioned above are available on the
Investment U web site ( http://www.oxfordclub.com/Investment U )
in the 'Further Reading' section.
**Of course, another periodical I would strongly recommend is my
own newsletter - Steve Sjuggerud's True Wealth. For those of you
who are not already subscribers, please take a moment to read up
on my letter by clicking below:
Click Here: http://www.agora-inc.com/reports/TWLT/iu202/
Good investing.
Steve Sjuggerud
Dr. Steve Sjuggerud is the editor of Steve Sjuggerud's True
Wealth and has been a member of the OC Investment Advisory Panel
for more than five years.
P.S. The number of bad investment books far outnumbers the number
of good ones. If a book is not recommended here, chances are,
it's not a good one.
* * * * * Steve Sjuggerud's True Wealth * * * * *
Right now the market is signaling a strong BUY signal for
Real Estate and you can take advantage of this opportunity
without owning any actual property and with as little as
$10. Steve Sjuggerud uses his 10 years as a professional
investor and his time tested market-timing model to let you
know when it's time to invest and in what sectors. For
example, you can buy stocks with all of the upside and
practically zero downside risk, invest in real estate with
as little as $10, and learn how to invest globally and take
advantage of some emerging opportunities. This Special
Report is available FREE. Learn how to make Steve's Four
Laws of Lasting Wealth work for you.
Click Here: http://www.agora-inc.com/reports/TWLT/iu202/
<A HREF=" http://www.agora-inc.com/reports/TWLT/iu202/ ">
Click Here For More</a>
============================================================
The 17th Annual Premier Offshore Advantage Seminar
Panama City, Panama, May 15 - 19, 2002
World renown privacy experts, money managers and tax-
avoidance gurus are set to meet with you to share vital
secrets and strategies. And there's no better time in
history for this crash-course in offshore protection offered
by such financial luminaries as Libertarian Party
presidential candidate in 2000 Harry Browne and former U.S.
Congressman Robert Bauman as well as The Club's very own
David Melnik, Dr. Steve Sjuggerud and Karim Rahemtulla.
The elegant Miramar Inter-Continental Hotel in beautiful
Panama City will host this important conference. The exotic
setting for this event, held at the perfect time of the
year, serves as a subtle reminder of how much we have to
live for and how much we have to lose. To reserve your
space at this popular (and essential) tropical seminar,
please click below, or if you prefer call Michael Whetstine
at 800-992-0205 or 410-223-2643.
17th Annual Premier Offshore Advantage Seminar
http://www.agora-inc.com/reports/191SPN2/panamaoxford/
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