/biz/ - Business & Finance

>>25972496
Learn about the Kelly criterion and it's implications.

>>25973461
Many books on that list are pure nonsense.
Not that there is nothing good there. A few of them are on pic related, a good list too.

>>23363856

I’m still working through hull, pretty accessible if you’re familiar with basic stats and calc.
>>23035070
have you read these?

>>21755410
go on library genesis

>>19984987
Simple, no.
Fully comprehensive.

>>19487095
pic for an undergraduate degree worth of knowledge

What books would you recommend for learning how to invest? Please serious responses only, no suggestions like "Rich Dad Poor Dad" or similar books.

I am particularly interested in learning effective ways to valuate a company in order to predict their long term growth.

What books would you recommend for learning how to invest? Please serious responses only, no suggestions like "Rich Dad Poor Dad" or similar books.

I am particularly interested in learning effective ways to valuate a company in order to predict their long term growth.

>>19341052
this >>19343413 exactly.
pic related for the equivalent of an economics degree.

Options, Futures and Other Derivatives by Hull was a very useful book to me.
To go beyond that I did a lot of reading of all sorts of thing from all over the place, following one general thread.
That modern portfolio theory is wrong.
>returns aren't normally distributed
>historical does not predict future returns/correlations/volatilites
>volatilities change over time, so a portfolio calculated from summary statistics doesn't even perform as predicted on backtests.
Let that sink in. The method doesn't even predict the data it is fit to.
>volatility isn't even an important measure of risk
The Shape ratio is a joke, but even the Sortino ratio misses the point.

Finding solutions to the failings of modern portfolio theory will allow you to make much better portfolios.
The biggest missing piece of the puzzle is the Kelly Criterion.

>>19343595
>>19343626
>Intelligent Investor
From the modern portfolio perspective Value investing is useless. It has slightly higher returns with a much higher volatility.
But I know volatility is irrelevant.
Graham's work is terribly outdated, but it does set you down the right path.

If you can come up with a model to output the distribution of the potential returns of a stock, then you can use the Kelly criterion to make an appropriately sized bet.
And with that you can maximize your compounding growth rate and minimize your risk of ruin.

>>18793018
These books for a real education.

The information in the first two mathematical finance books has allowed me to make ~30% gains each year in my investments for about 10 years now. Yes, it's looking like it will pan out this year too.

I give a lower quality recommendation to the game theory book. It contains everything you need to know about game theory, but it's a real pain to learn from.

>>18664248
Someone posted this a week ago in a book rec thread. Are they retarded or based?

>>18428424
An economics education.
If you learn everything in these books you will have a higher quality education than most economics bachelor degree holders.

I needed to make this pic to counteract all the pop-finance books spammed on this board.

This requires 1st year uni maths knowledge. I'm sure you can figure out how to get that elsewhere.