/lit/ to /rich/

[Anonymous No.19177044]

The economy will be going to shit soon so we all need to dig our heels in before the storm hits. With each lightning strike provides an opportunity to make it - to truly make it. When the clouds dissipate the sun will finally illuminate the ones who grew in the dark.

What are you guys reading to get ready?
For me:
Rich Dad Poor Dad
Richest Man in Babylon
Millionaire Fastlane - amazing
Unscripted - amazing
Made in America
Intelligent Investor
Road to Serfdom

Yours anon?

[Anonymous No.19177198]

>>19177044
you don't need to read any of this shit. just find a good investing forum and install day-trading software on your gaming pc

[Anonymous No.19177212]

>what am i reading to harness the gales of the storm that will shake society to its core? pop-business books with a random political philosophy text thrown in hehe

[Anonymous No.19177340]

https://youtube.com/watch?v=pw63w_hcLEU

[Anonymous No.19177343]

>>19177198
recommendations? please please please i am nothing i am a slave i need your gracious divine wisdom you have been steeped in Gods eternal light with all of your knowledge i am a dog. a fool

[Anonymous No.19177348]

>>19177343
i wish i had a girl who made me say stuff like that to her and then peed in my mouth

[Anonymous No.19177434]

>>19177348
>and then peed in my mouth
Hot

[Anonymous No.19177437]

>>19177044
>Rich Dad Poor Dad
Kiyosaki just bought in to HEX

[Anonymous No.19177453]

>>19177044
Just buy XRP to be rich. Can get it on uphold. Not much longer until blast off, so act fast. It will be worth thousands

[Anonymous No.19177491]

The fuck is this shit I came to lit to get away from biz it's consuming my life and there are xrp shills and hex retards here

[Anonymous No.19177548]

>>19177348
Very wise.

[Anonymous No.19177571]

I put all my money into my Vanguard mutual fund. I'm a brainlet and a coward so if I blew what little I have on some stupid investment, I'd probably jump off a bridge

[Anonymous No.19177650]

>>19177044
Taleb's Blackswan and Fooled by Randomness.

I second RDPD and Fastlane for the mindset. Fastlane forums is largely responsible for my current wealth.

Sowell's basic economics for the beginner as well.

>>19177343
1. Live in the US
2. Understand the economy and supply chains.
3. Continuely read pop-eco shit
and have atleast a decent work ethic and you'll make a million in 5 years. We are living in amazing times.
4. Not being autistic is mandatory unless you're a marketing genius.
5. Network locally and online.
6. You'll need to specialize if you don't want your growth to stagnate. Google scholar is your friend.

Never overthink shit. There's a reason why so many of these books are vague as fuck.

[Anonymous No.19177690]

this is an interesting kind of contrarian strategy from a former fixed income security analyst or whatever. most people invest for growth, value, or yolo, this dude makes the case for investing for income. i don't agree with all of it, but if you already heard all the other stuff check it out

[Anonymous No.19177713]

>>19177690
i would add i was listening to this right at the coof crash and snatched up some of his recommend picks for insane discounts.

[Anonymous No.19177714]

>>19177044
>Rich Dad Poor Dad
The only thing you can learn form him is literally 'marry into money', that's how he started his real estate portfolio, or should I say, his wife's family did

[Anonymous No.19177724]

The only way you can get rich with this kind of literature is by going meta and writing this shit yourself. OP look at all the books you mentioned, if you've bought even half of them you're a fucking mug.
>inb4 Grant Cardone - "I read a 20 dollar book looking for a million dollar idea'
Sounds great, but there are no 20 dollar ideas. all ideas are worthless unless you have the resources, especially the finance, or the professional network to actualize an idea.
I swear, you could probably learn more about how to make money from reading Kierkegaard or the Nicomachean Ethics and learning about why people make stupid decisions so that you can leverage and market to them than you can from any of these bullshit books written by guys who if they were so good at making money wouldn't be writing the books and doing podcasts because they're too busy with their billionaire day-jobs!
However if you absolutely must read this kind of shit, pic related is better. It talks a lot about how to manage a company and how to find a niche.

[Anonymous No.19177727]

>>19177340
I enjoy this guy's alt his stuff more than his geopolitical analysis. His biases seep out a lot in his political stuff (nothing extreme, just a vey libertarian view).

>>19177044
Why will the economy collapse? Supply chain issues will settle down as COVID fades. COVID itself will fade away and all the problems it caused will cease. And we have Democrats in power, and there hasn't been a major economic crisis under Democrat rule for ages.

[Anonymous No.19177738]

>>19177690
What does this even mean.

[Anonymous No.19177740]

fix your list op, intelligent investor is actually good

[Anonymous No.19177743]

The only way to escape inflation is by already making it by the time it arrives, sorry anon.
All these democratic policies + inflation hurts the poor + middle class.
Upper middle class + rich are the ones who reap the benefits, and you can clearly see that in this giant bill they're trying to push. Tax breaks up the wazoo for upper middle class (the democrats new voting base since niggers are easy to control via racebaiting).

>>19177727
Their energy policies alone will screw all non rich folks, and i'm not gonna bother going into all the other shit. Imagine how nice it's gonna be being rich and getting a subsidy for your new tesla while all the poor people cut down on driving.

[Anonymous No.19177763]

>>19177738
what do you mean what does it mean? it's a book of strategies for people who optimize for income rather than other metrics

[Anonymous No.19177775]

>>19177763
What does optimizing for income mean? Makes no sense to me.

[Anonymous No.19177809]

>>19177775
instead of buying stuff to watch a green line go up on a chart you buy stuff to see cold hard cash deposited in your account every month

[Anonymous No.19177821]

>>19177809
only downside is the tax man ignores imaginary green lines but he is quite interested in cash money.

[Anonymous No.19177830]

>>19177809
>>19177821
Well, it would be nice to know what kind of stuff that is.

[Anonymous No.19177866]

>>19177830
that's why that guy wrote the book.

[Anonymous No.19177867]

The Prince by Machiavelli
Laws of Human Nature by Robert Greene
The Essential Talmud

Its all you need, honestly.

[Anonymous No.19177875]

>>19177866
Well then. Looks like I am going to earn 300k starting.

[Anonymous No.19177896]

>>19177809
Cash in your bank is literally just another green line. If you don't see cash as an investment class you are in the wrong game.

[Anonymous No.19177897]

>>19177044
>>19177867
Anons! How much do you earn and what's your net worth?
What did you learn from each of those books and how did it influence your income and net worth?

[Anonymous No.19177898]

>>19177875
don't get too excited his strategy just barely edges out the s&p500 maybe but to be fair that's actually not bad and once you hit whatever you need to live you can just blow the dough instead of reinvesting it if you so desire

[Anonymous No.19177922]

>>19177763
>optimize for income
What the fuck does that mean?
>>19177809
I still don't get it. Isn't 'cold hard cash' a green line when it's getting deposited in your account?
Why can't you just explain it in layman's English from the get-go?
Also, isn't cash is a fool's game, while yes you should always have some liquidity - outside of a Depression cash always loses value.
Of course you should always have a little bit of liquid cash in your portfolio, but if you're smart you'd have bonds.

[Anonymous No.19177965]

I have very little money, but on the upside I have no obligations as well. I want to arrive at a point where I can sustain at least a modest existence without slaving away at a job I hate everyday.

[Anonymous No.19177976]

>>19177922
>Why can't you just explain it in layman's English from the get-go?

that's not a very cash money mindset to have anon. please get with the lingo

[Anonymous No.19178004]

>>19177922
yes bonds are part of his strategy but most bonds are exposed to inflation, so to counter that you have to get other kinds of income producing stuff. reits are an obvious choice, some utilities, etc. that regularly increase their dividend but part of it is the income keeps coming even if the economy is down so you can dollar cost average shit or even if the stock straight up tanks, you already got paid. i have some reits i bought during the 2008 crash that paid for themselves long ago and now are just pure cash blooping into my account every month that i choose to reinvest but i could take it out and pay a bill or buy a bunch of hedonistic shit if it suited my fancy. like i said i don't agree with 100% but when you get this ultra rich guys like buffest arguing against paying dividends on tax grounds all while they hold a ton of preferred shares and income producing shit they just don't pass it on to you they sit on it and make the green line go up, that's nice but you want to cash out some shares of brk.a in the middle of a recession to cover some obligation? buffet can do that, but maybe the strategy for a mega billionaire is not the same for normal people. you decide.

[Anonymous No.19178024]

>>19178004
>so to counter that you have to get other kinds of income producing stuff. r
Doesn't that go against the idea of cold-hard cash though? Also bonds are less exposed to inflation than Cash almost by definition since you earn interest.
>buffet can do that, but maybe the strategy for a mega billionaire is not the same for normal people. you decide.
I don't understand what wisdom this book has at all.
I mean, you're right, Buffett's strategies don't apply to you and me. But also my biggest problem is generating an income that allows me to invest. Most of these books seem to be basically "don't waste money stupid" and I'm failing to see how this one is any different, especially if it's all about "not watching the green line... but also watch the green line of your REITS or other Trusts". Seems bullshit to me. But clearly I don't get it either.

[Anonymous No.19178043]

if you dudes really want the pro-shit just look up some telite mba syllabus and get the textbook for the portfolio management classes if you're too cool for pop books. here have some mit lectures:

https://ocw.mit.edu/courses/sloan-school-of-management/15-401-finance-theory-i-fall-2008/video-lectures-and-slides/

[Anonymous No.19178079]

>>19178024
bonds pay a fixed rate. if inflation goes up the rate you're getting isn't as valuable. the point is every month or quarter depending on what it is when you get paid you reinvest it. if the market drops on some stock that doesn't pay dividends it's just dead time. eventually you will go up and that's fine, but with income producing shit, you get paid no matter what happens in the market, which means then stocks are getting hammered like in april 2020 your income that month or quarter buys more, and you might get a little green line go up action at the same time. so you can get riskier bonds that pay more, you can get preferred shares, you can get shit that distributes most income due to tax structure like reits, etc. you know what you're getting paid and can plan, with green line go up investing, you don't know what's going to happen. it will probably go way up, but you don't know, but you're bonds and preferred shares are going to keep paying you, usually. there's always risk, anyways i said it was contrarian when i posted it.

[Anonymous No.19178118]

>>19177571
Stick to stocks, don't do cripto. Invest a little, not like you have to put your life savings down. It's like gambling; whatever money you put down is gone, if you make some back, great, if not, whatever

[Anonymous No.19178120]

>>19178079
>bonds pay a fixed rate.
And cash pays NO rate. Cash loses value except in a depression.
CASH PAYS NO INTEREST.
CASH LOSES VALUE!
>but with income producing shit, you get paid no matter what happens in the market
And how am I magically suppose to get enough money to save up to buy these assets!? I'm not Warren Buffett... where does this magical free money come from?
Which book explains that?

[Anonymous No.19178233]

>>19178120
i think you're missing that you're supposed to reinvest the shit dude. if you have some bond fund or reit that pays you monthly, every month when the cash hits your account, you buy more of that same thing, then next month it pays a little more, and you buy some more, and so on and so on. you probably already do this with index funds, but this guy with a background in bonds, goes all in and instead of reinvesting that little 2% s&p dividend, he hunts down 5% utilities, 6% reits, and 8% bond funds, and uses it all to buy more of the same stuff. reits could always cut their dividend, some did during covid, corporate bonds could always default, it happened in the 80s, utilities well they're pretty solid but prob not gonna get above 5% if that more like 3-4, etc. like if you've heard of a "drip" this is the same thing, but instead of buying some buffety value stock and doing a drip on some 1% dividend, this guy looks for the highest payout shit, growth be damned, value be damned. most people won't agree, but if you've already heard the other strategies, maybe you'll get some new ideas.

[Anonymous No.19178242]

>>19178118
Disagree. Unlike gambling where the payout is 2-3x, choosing the right crypto can net you 100x+ easy.
While obviously crypto is a giant pyramid scheme, you truly think it's peaked? It's barely on the charts and there's been no real hysteria around it. Lots of potential to keep going up.

[Anonymous No.19178280]

>>19178242
I'm comparing investment and gambling more in principle, not in terms of the actual risk reward
I'm also not saying that crypto doesn't provide a far larger possible payout, but that it's way riskier than conventional stock trading

[Anonymous No.19178282]

>>19177044
wtf at these books anon. A bunch of self-help-tier 'omg spend less and invest in things that will give you a passive income (i.e. become a rent-seeking landlord leach), and then Friedrich Hayek? Whatever. Good luck to you.

[Anonymous No.19178348]

>>19178282
I just want to leverage my coding abilities and time to bankroll my future space colonization effort. I will not spend my 20s waging for yet another void brain whose endgame is living on his yacht drinking himself numb.

If you have any other suggestions, do not hesitate to post.

[Anonymous No.19178530]

>>19177044
There's a risk of a global recession from a manufacturing stoppage due to low coal supplies. China is instituting rolling blackouts. For higher tech, a lot of manufacturing hubs are having trouble securing LNG due to geopolitical issues (Germany from Russia, Taiwan/Japan from Russia, etc).
This isn't going to be a permanent stoppage though. Just buy the dip and find a job in a recession proof industry. If you're in the US you're in the best labor market of your lifetime - pretty much every industry is having trouble filling job openings, partly because COVID is making it hard to bring in foreign labor. If you have a white collar skillset now is a great time to get a stable job in something like healthcare, defense, or advanced manufacturing that is unlikely to get cut if the economy turns again.
If you're blue collar its not great, but there's a decent amount of construction projects paying good wages because they subcontractors can't even get enough illegals to fill the demand. Whether or not this lasts depends on commodity prices which may get higher and trigger building stoppages, but this isn't a sure thing. Plus the sheer amount of money being poured into tech that will improve construction productivity will make individual jobs more viable, especially if there's some level of training required and management wants somebody that speaks English.
You're being paranoid OP - just don't get an O&G job or work at a shitty startup where you're beholden to VCs that are pushing scaling the business before your ops can handle it.

[Anonymous No.19178544]

>>19178530
Also personal finance self-help books are retarded. Just contribute to a 401k, tuck a decent amount away in savings in case you get low/for an eventual real estate down payment, and build your resume until you're positioned to get a stock option or equity deal for a real payday. You can make good money staying on top of the market or crypto, but winning serious cash there is rare and in the long term its a random walk. You're better off just focusing on a skillset that can get a good salary with an option or starting your own business if you have a solid model with good timing.

[Anonymous No.19178583]

>>19177343
Lol dont listen to that retard.
The stock market is always gambling even if you are sure absolutely positive that your idea cant fail.
The best piece of advice ive ever read was to invest in market leaders and shun secondary players like the plague and I think its the truest best trading/investing advice ive ever read.
So many people see well company A is the best but with an expensive PE but company B is upcoming and trades at a discount it will moon to company A valuation soon. No. Not unless they actually flip in leadership position.
A good example of this is Intel AMD, AMD was dogshit, but they got their stuff together and are the market leader now for performance AND price. I'm going big into Intel now though because I think Intel will regain the crown because they are actually investing in growth and R&D again instead of sitting on their lead as well as going into new markets (fab business)
Your determination of who is the market leader and who are the secondaries to be shunned is key to success.
Second best piece of advice is to follow growth industries. Value investing is a trap most of the time.

[Anonymous No.19178654]

>>19178530
OP here. Your post has sorta put me at ease that I haven't felt in weeks. Thank you.

Id like your thoughts on one last thing. The last main worry I have revolves around debt. US Debt procured post and during COVID. Before covid it already seemed like it was spiraling out of controlled and the markets really do seem mismatched. Do you still see the dollar being viable in the future compared to what China's cooking up?

[Anonymous No.19178684]

>>19178530
Is inflation a serious concern going forward? Is there a nonsilly way to hedge against it?

[Anonymous No.19178704]

>>19178684
Buy cigarettes. Dimond hands on Marlboro or Camels and you can sell them individually for a dollar in the event of hyper-inflation.
They hold value, are divisible by a reasonable amount, and are constantly in demand. Sure you can't store your life savings in cigarette packs, but you can easily put aside 5k for a rainy day.
t. lived in South America

[Anonymous No.19179037]

>>19178233
>i think you're missing that you're supposed to reinvest the shit dude.
No you're missing the point
I'm earning minimum wage - I can't reinvest a thing. How do I change that.
These books are for rich people who don't know the basic precepts of investment.

[Anonymous No.19179425]

>>19177044
Have you heard about /biz?

[Anonymous No.19179551]

>>19179037
Best advice would be to find a better career.

[Anonymous No.19179552]

>>19179551
axxztually, the best advice would tell me HOW to get a job in that career, but the point is taken.
>>19179425
I've heard of /biz/, always do the opposite of what they say

[Anonymous No.19181427]

>>19178242
>It's barely on the charts and there's been no real hysteria around it.
Even my dad and his friends know about it. The show is over.

[Anonymous No.19181435]

>>19178348
Wtf is this pic, anon?

[Anonymous No.19182203]

>>19181435
A blackpilling visualization of asset classes.

From https://youtu.be/lBdxeeolWng