When I start off learning to build wealth, the internet hasn’t taken off in a very big way as what we have now. The folks today have much more quality resources that kick start their world of investing.
To be fair there are more noises as well.
To get to know how to invest, I go with my heart which way of investing I felt suits my character.
Then I started going to the library to borrow books to read. When I felt I need more, I went to the book store to purchase more books.
I executed, I made money, I stumbled.
Whenever I felt inadequate I turned to books, I tried to rationalize or reflect why I made money and why I lose money.
Many folks asked me on Investment Moats how to get started on investing. My answer would be read this and this and this.
I probably turned them off because that is not what they are looking for.
The folks today:
- Do not have time because they are married, have children, felt that they lost so much time if they are in their 40s and 50s
- Do not like to read
- Prefer a mentor to help them along
I always thought that the key to being good in investing is to absorb facts, execute, reflect and then absorb facts, execute and so on.
After all most good fundamental investors read A LOT. So why should you do differently?
- You cannot turn back time to a period when you have more time
- You cannot change how you absorb facts
- You do not have enough time to execute, fail, tweak and execute again
In fundamental forms of investing, to make money well, you need to progress from knowing nothing to at least an intermediate stage.
Courses do have a place in this world because you don’t want to fall over again and again.You want to shorten your road to being competent enough. A good trainer and course materials emphasis the most common mistakes. This shortens number 3 in the previous list.
My friend Cayden runs the Mind Kinesis Value Investing Academy. He is passionate in his goal to make more people good wealth builders.
And he has a few preview courses being lined up.
At these preview courses, you will receive an introductory take on how the courses are conducted, whether you are comfortable with the syllabus, the depth of what will be taught to speed up your learning curve.
If you felt that you are running out of time, do not have a wealth mentor, and want a packaged solution to learning how to build wealth through a value investing approach, do visit the FREE preview and see if it works out for you. There are 2 sessions on 27 November and 10 December 2015.
The caveat is that, if you think after the course, you will reach intermediate stage, then you are sorely mistaken. Courses sets you up through interactive learning, and focus you on some of the fundamental metrics that you should focus on, but you will still need to read the facts, prospect, execute, reflect, tweak, read the facts, prospect, execute.
You can shorten your upfront effort, but you will still need much recurring efforts.
For those that think I am remunerated in anyway to write this, I am not. I just felt that after being more experience, not everyone can do what I do, spending every 3 hours after work for years on upfront efforts, because I was a single, junior engineer with much less responsibility then what I have on my plate now.
Friday 20th of November 2015
Hi Kyith, could you tell me what are the investment books that are worth reading?
Friday 20th of November 2015
For fundamental Investing, its been some time since I read one beginner one, but when I started I read the intelligent investor on Benjamin Graham. I also read one up on wall street. But those books have not been updated much.
What really connects the dots was reading buffettology by Mary buffett ( which incidentally endorse this course by cayden but not by me) . specifically it talks about the more important ratios and explains in the layman terms.
These books explains fundamentals, but to connect better, pick up a book on basic accounting, to understand how to read the financial statements.
Spend 10 minutes a day looking at an annual report. The objective is that over 1 month, you won't feel repulsive looking at it.
Lastly, once u get past this stage, go for the free materials. Read Berkshire Hathaway past annual shareholder letters. They are on the site and free. Then read Howard marks quarterly notes on oaktree capital.
Hope this helps