/biz/ - Business & Finance

>>58333777
This was the first financial book I read. It's not hard, just boring. Basically just boomer advice. Doesn't mention debt maxxed 50x leveraged shitcoin speculation even once and it's supposed to be "intelligent". L

>>58333777
no intelligent doesn't even mention margin trading

It was a good book for the era that it was written in and has sensible fundamental advice, but value investing has been dead for decades and no one invests like this anymore.

>>58334940
>but value investing has been dead for decades
What a moronic thing to say. Just because there are lots of retards now who think the stock market is a casino, doesn't mean value investing is dead. This era of meme stocks will come crashing down to reality at some point, and the value investors will be the ones who make it out alive.

Anyway, back to the topic. The whole book can basically be summarized in a couple points:
1. Do not day trade or attempt to time the market.
2. Divide your portfolio between low cost index funds and high quality bonds.
3. Periodically adjust the share of each in your portfolio. If you think stocks are overpriced and risky, sell some stocks and buy bonds. On the other hand, if you think stocks are cheap, sell the bonds and buy the dip. You should not do this more than twice a year.
That's basically the whole book. You're welcome.

>>58333777
In short - buy only quality and hold. Make conviction plays and ride them out. This is applicable to any and all markets.

>>58333777
Also checked.

>>58334879
>the intelligent investors
investors don't "trade" and certainly not on margin you stupid fucking midwit

>>58333777
Rich Dad Poor Dad

nice trips

>>58333777
still the best book ever written on value investing but don't get confused and assume it's a generic investing primer for babby. It's dry and goes in-depth on combing a company's financials which almost no one does anymore with algos footing the load for everything anyway

>>58333777
this book sucks and isnt relevent any more. its only good for investing from 1950s-1999 where you basically just buy anything and hold it.

economics in one lesson is a good book

>>58335024
It's accurate advice for the time period we live in. Even Warren Buffet had to switch to growth investing as soon as the 1980's rolled around. There's no way he could have became as successful as he did without changing his strategy to match the era he was living in.

>This era of meme stocks will come crashing down to reality at some point

People have been saying this since the 1980's. Please tell us when this is going to happen. Until then, you'll be missing out on some serious gains.

>Just because there are lots of retards now who think the stock market is a casino, doesn't mean value investing is dead.

Why do you think investors look at it like a casino now? Could it be that there's some entity that destroyed price discovery and determining "value" is nearly impossible now, especially with tech stocks?

Face it, value investing is dead thanks to easy money policies and it's not coming back until the entire system implodes.

tl;dr buy shitcoins and meme stocks. You'll be much better off because of it.

>>58335024
There is absolutely no logic in holding or assuming anything has any real value when even the most basics of the economic backbone which is it's central currency is manipulated for short term gain and short term profits with no regard to long term strategy

If the central government itself does not invest for value, why should the average fucking retard

>>58335262
a government has a theoretical infinite lifespan, you don't

>>58335697
>a government has a theoretical infinite lifespan
I doubt it

>>58335697
>a government has a theoretical infinite lifespan, you don't
Not if I have anything to say about it

>>58335245
Honestly, how much longer do you think this can go on for? I mean, putting your ego aside and trying to look at where we are.

You don't want to be holding the bomb when it explodes, is all I'm saying. At some point it makes sense to start to allocate into boomer rocks or whatever you consider a safe haven (Bitcoin does not qualify as a safe haven*).

*It has been way too volatile and is 15 years old.

>>58333777
Most important principle of the book is that you can advantage in investing against the market's pendulum swings by either the way of timing or the way of pricing.

Timing the market is effectively impossible. However, it is possibly to win against the market by buying when prices are below their fair value, and by selling them when they are above their fair value.

You need to assess the value of the business by asking yourself how long the business will be around in the future, whether it has a strong financial position, and whether the earnings are likely to be maintained over the years.

Bitcoin SV is likely to be around in 20 years. BTC is not. This is because the effect of halvings mean that miners are going to be making smaller and smaller subsidies over time, which means that it will cost all the money in the universe to keep BTC operational by 2040. The fees BTC miners can charge per transaction is limited because it can only process 7 transactions per second.

Bitcoin SV has aimed to make an unlimited number of transactions per second possible over time. Already it can process 50,000 per second. This means that miners on BitcoinSV have an incentive to keep mining as the block subsidy decreases over time but they can make money form the fees on the many transactions that get processed into each block.

Do you think Benjamin Graham would buy BTC or BSV?

>>58334940
This

>>58336019
How do YOU know when it's going to explode? I bought boomer rocks as an insurance policy, because I know that I DON'T know what's going to happen within my lifetime and all of the people saying "the world is ending...at some point maybe soon..kinda..." are the inverse of that. They are missing out on the best gains the stock market has ever seen. No one knows anything about our immediate future. This monetary lie can be told for much longer than any of us will be alive. If anything, I think demography is going to doom America in the long run. All of that cheap labor and short term profits will come at a massive cost a couple generations from now.

But given where we're at right now, I don't see the point in trying to swim against the tide when I can just grab a surf board and ride the wave they've created. Value stocks won't save you in the event of some financial supernova as 2008 has already indicated.

Central Banking and easy money policies has ensured we're ALL in this together now. Outside of boomer rocks, good luck hiding your money from them when they eventually come for it.

theres an old book called trading for a living that you can listen to on youtube for free. it's from the 90s and it's all still relevant today

>>58333777
The reason Buffet and Graham investing works is because the money is counterfeit usury and they have to keep printing more. All Buffet and Graham do is buy companies that will continue to be valuable. EVERYTHING WILL BECOME MORE AND MORE VALUABLE AS LONG AS IT REMAINS IN DEMAND WITH A CONSTRAINED SUPPLY. Especially stock in a monopoly.

>>58336179
>Do you think Benjamin Graham would buy dogshit or catshit?
Ensuring safety of principal was one of Graham's big rules. He wouldn't go anywhere near cypto, and neither would any intelligent investor. Fuck off.

>>58333777
>and could not be read by a beginner.
What?
Also you paid?

>>58336337
FFS. Ben Graham traded penny stocks and would be absolutely knee deep in crypto.

>>58335065
they definitely use all their margin but yeah they don't trade.

>>58335024
It doesn't seem like anyone in here actual read this book. Index funds didn't even exist when this was published. He doesn't mention index funds a single time. All you've managed to do here is inaccurately summarize the portion on defensive investing. You've left out entirely the sections dealing with the enterprising investor and arguably the most important points in the book on market psychology. It's like you read the book, but your copy was missing two-thirds of the chapters.
>>58335222
wrong
>>58335245
Wrong. He hasn't changed anything fundamentally about his investing style. You're confusing "growth stocks" with "growth investing." You can value invest in "growth stocks." You also didn't read the book.
>>58336179
Value investing is unconcerned with non-productive assets. It's the reason Warren Buffett is uninterested in gold and bitcoin.
>>58336332
You don't understand the fundamental difference between value and price. You also didn't read the book.

>>58336612
>Wrong. He hasn't changed anything fundamentally about his investing style. You're confusing "growth stocks" with "growth investing." You can value invest in "growth stocks." You also didn't read the book.

Wrong. He's the one who stated multiple times in the media and at his conference that he incorporates both strategies due to changes in the markets over the years.

>>58334730
>>58334879
>>58334940
>>58334940
>>58335222
>>58336612
If the book is outdated, what is the book for this era?

>>58333777
Read a random walk down wall street, then that

>>58333777
Fucking checked dub trips
I think this book touches on defensive investing which is a nice concept and knowledge to have.

>>58337058
No, he didn't. Doubling down on things you're making up doesn't make them true. You also didn't read the book.

>>58338300
It's not outdated.

>>58337058
The shift he made after Charlie Munger's influence wasn't a shift to "growth investing." Charlie convinced him to look at better quality businesses to hold for longer periods of time. Value investing has nothing to do with the types of businesses you're looking at. It's only about valuing businesses accurately and buying them for a sufficiently cheap price. Warren Buffett is still applying the exact same fundamental principles of value. You didn't read the book.

Whst does Mr. Buffet think of f&o trading?

>>58333777
that book recommends having 50 % of portfolio in cash and bonds

Terrible advice. That might have worked in the 1940s, when the book was written.

>>58339616
What do you suggest reading?

>>58336566
No he wouldn't lmao. He was a massive preacher of book value. Crypto has no book value. He wouldn't go near it.
>>58339716
Beating the street by Peter Lynch is good. 100 baggers by Christopher Mayer is also very good. You should also read security analysis by Benjamin Graham. The intelligent investor is not his best work in my opinion.

>>58339767
How's One Up on Wall Street?

>>58339964
Also good. Basically everything by Peter Lynch is good.

>>58338300
It isn't outdated, it's basic fundamentals. Read it and graduate to higher-level books.

>>58335222
>1950s-1999 where you basically just buy anything and hold it.
This is one dumb poster. The majority of top companies over the decades will fall apart and change. Maybe for index tracking this is a good idea but definitely not for “anything”

>>58335947

KEK.

>>58336566
Book value is meaningless in the current stock market due to accounting practices that mask earnings. The principle is about whether the stock is trading at less than fair value or more than fair value.

If graham were into crypto, and understood that Bitcoin SV is a long term threat to MasterCard and Visa, he would understand that BSV is trading at far below fair value.

Bsv has a moat, in that it is protected by IP and patents that BTC core doesn’t have access to. It is far cheaper than BTC which helps to demonstrate that it is trading below for value.

If Buffett buys any crypto, it will be BSV.

>>58333777
holy digits

>>58333777
the Meta changed and these tactics aren't relevant anymore.

>>58340177
>Read it and graduate to higher-level books.
Which are?

bump

>>58341228
What's the new meta?

Ben Graham got rich and made the vast majority of his money from one single stock, not from the methods he taught. He admitted this later on in his life.

That stock was GEICO.

>>58333777

This is the only business book you need.

>>58342725
This book is literally garbage.
>Learn how to invest into bonds and collect 3% yields. Maybe you can double your money in 40 years.
How did everyone hear about this book? Warren Buffett, who is a fraud and made his money insider trading not by his own shitty "methods" either.

>>58343933
>made his money insider trading
How did he not get caught?

>>58343933
warren buffet didn’t make his money by holding stocks for decades ?

>>58333777
Fisher's book is more important. Common stocks and uncommon profits. That's how they invest now, in growth companies. For the intelligent investor, I'd read the adapted version. Really no read to read the entire book.