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comment by Isherwood
Isherwood  ·  3385 days ago  ·  link  ·    ·  parent  ·  post: Good fantasy stock portfolio

Alright, so before I do anything I'm going to get a dictionary and look up all these words. Jeeze, stocks are a weird place.

This is good though. I'm going to have to read it a few times to understand it in depth, but I generally agree that what everyone is shouting isn't usually the best advice - if for no other reason than it takes the masses six months to learn to turn experiences into words and amplify them above the noise, and six months is an eternity.

It's good to know about the cult stock idea - I had a feeling that my admiration of those companies was probably well shared and that would likely have an odd effect on the stock. I like the tech market and I follow it for fun, so I figure that's a good place to start if I can actually get my head into things like what batteries are made out of and what public companies produce those elements.

We'll see, I'll dive into your reading when I have some downtime.





kleinbl00  ·  3385 days ago  ·  link  ·  

Both of those books recommended are crazy cheap and crazy short. They're probably an afternoon of your time, or two if you're distracted. In order to sheep-dip yourself into an understanding of the larger forces, I recommend three leisurely, great reads:

IOU: Why Everyone Owes Everyone and No One Can Pay

The Big Short: Inside the Doomsday Machine

Flash Boys: A Wall Street Revolt

All three are entertaining as hell. Michael Lewis is great and John Lanchester is almost as good. He's also British so a more worldly perspective adds.

Finally an anecdote: I have a modicum of internet fame as "that guy that helped the dude in prison." Long story short, I proofread his speech before his sentencing judge and acted as his internet conduit while he was in prison. Not mentioned in any discussion of that adventure is the fact that I've since done the same for a half-dozen people. I doubt I'll be asked again; I've pretty well turned my back on Reddit. HOWEVER the last guy who asked for my help was looking at fifteen years for stock manipulation. He was one of several in an archetypal boiler room that made calls and plays to pump up values ahead of dumping stocks. He'd defrauded a handful of pension funds out of tens of millions of dollars.

He was 22.

Finally, I'll leave you with this, from Nate Silver: