capitalist-in-training here, pls help

[Anonymous No.1789313]

So I bought a bunch of the books from pic related and decided to start with "The Four Pillars of Investing" since it seemed like a good introductory book, and before I even get to page 10 I'm questioning the legitimacy of the lessons. Example:

>One of the most important European financial inventions was the "annuity," that is, a bond that pays interest forever, without ever repaying the principal amount. This is different from the modern insurance company annuity, in which payments cease with the death of the owner. European annuities were usually issued by a government to pay for war expenses and never expired; instead, they were handed down and traded among succeeding generations of investors. Newcomers tend to recoil at a loan that yields only interest with no return of principal, but the annuity is a very useful way of thinking about the price of a loan or bond. It’s worth spending some time discussing the topic, because it forms one of the foundations of modern finance.

This Bernstein guy is talking specifically about a "perpetuity" right? Why is he using the very broad term "annuity" to describe a very specific type of annuity? I'm a complete beginner at this stuff, if I didn't research these terms on my own that would've fucked me up big time. Should I bin this book and stick to investopedia articles for now or what?

[Anonymous No.1789603]

>>1789313
He is referring to what is often called a perpetuity. Just keep it in mind while reading him. Don't disregard him simply because he is using different vocabulary.

[Anonymous No.1789626]

>>1789603
Thanks, anything else to take note of about the book, or any suggestions about what to read afterwards?

[Anonymous No.1790606]

>>1789313
OP, which books did you purchase and how did you justify choosing them.

I just picked up "A random walk down wall street" last week, and I'm about halfway through and I must say, it's pretty eye opening.

[Anonymous No.1791425]

>>1790606
The intelligent investor, like a virgin, think and grow rich, the investors manifesto, a random walk down wallstreet, economics in one lesson, the black swan, the way to wealth, the millionaire next door, the one up on wallstreet, how to win friends and influence people, basic economics, getting to yes, and the four pillars.

My justification is that they either seemed like good introductory books, are regarded as classics, or they just seemed interesting.

[Anonymous No.1791509]

If you google "Michael Mauboussin thirty years", there's a pdf written by the head of global financial strategies at Credit Suisse about his list of ten attributes of succesful investors. Short, good read.

[Anonymous No.1791511]

>>1791509
Thanks for the tip, will read.

[Anonymous No.1791541]

>>1791425
Someone give me a reason to read black swan. I got so bored after his boo hoo I've had such a hard childhood in the Middle East or whatever story that I couldn't keep reading.