Is The Bogleheads' Guide To Investing The Go-To Book?
Is The Bogleheads' Guide To Investing The Go-To Book?
Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
Is this book good? Is it the only one that I need? Any other recommendations?
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
My favorite as an easy-read is John Bogle's "The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns"
and as a bit more detailed reading, Mr. Bogle's "Common Sense on Mutual Funds"
But you could bypass all of that and get a good enough synopses by just reading Taylor's post on "The Three-Fund Portfolio"
viewtopic.php?t=88005
and as a bit more detailed reading, Mr. Bogle's "Common Sense on Mutual Funds"
But you could bypass all of that and get a good enough synopses by just reading Taylor's post on "The Three-Fund Portfolio"
viewtopic.php?t=88005
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
It is a really good starting point and if it just gets you to save regularly and use diversified low cost index funds you will be better off than the most people.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
I particularly like this book, in conjunction with BH Guide to Investing.
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Some other good ones:
- Personal Finance for Dummies by Eric Tyson
- Why Smart People Make Big Money Mistakes
- The Four Pillars of Investing
- Personal Finance for Dummies by Eric Tyson
- Why Smart People Make Big Money Mistakes
- The Four Pillars of Investing
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Yes, that is book is not just good but it is great. Another recommendation would be “Bogleheads Guide to the Three Fund Portfolio” by Taylor Larimore.FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
If you like reading eventually you will end up reading the best one “A random walk down wall street” by Prof. Malkiel
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
The Elements of Investing by Malkiel and Ellis
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
- Quit Like a Millionaire: No Gimmicks, Luck, or Trust Fund Required by Kristy Shen
EDIT to add: although they use a Boglehead portfolio, the book is more about FIRE.
EDIT to add: although they use a Boglehead portfolio, the book is more about FIRE.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
"The Simple Path to Wealth" by J.L. Collins.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Yes, it's all you need.FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
I can also summarize it as:
- Pick a good asset allocation. Start from 70% equities/30% bonds and go up or down depending on your risk tolerance and age.
- Pick a good domestic/international allocation. A recommended ratio is the world market weight: 57% US, 43% International.
- The only 3 funds you need: VTSAX, VTIAX, VBTLX (or any equivalents). Don't bother with any other funds or portfolio strategies.
- Invest as soon as you have the money available.
- Set aside an emergency fund, six months to a year.
- Rebalance once a year.
- Don't time the market.
- Tune out the noise. Don't read or listen to any financial news or personalities.
- ???
- Profit
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Read a lot of books with differing viewpoints and strategies so that you have a better idea of what you are buying when you invest in a fund. If you just do something that some author told you to do in a book that sounded like it makes sense, you won't have the depth of understanding of the market needed to get through the scary times.
I learned this the hard way. I read Bogle back when his first book came out and dutifully bought index funds. But I didn't know enough to know the difference between, say, a sector fund and a broad market index fund, nor did I have a clue about how bonds worked, so when my bond index fund NAV dropped because rates were rising (briefly back then, as they had risen so consistently for years that it was a shock), I would sell the fund, thinking something was wrong.
Now I have learned a lot more about stocks and bonds and how they work individually and am better able to choose the index funds I invest in and the fixed income vehicles I buy.
But that came only after studying various approaches, experimenting with small amounts of money to see how others that sounded just as compelling worked, and finding a place from which I am much more confident investing than I used to be.
I learned this the hard way. I read Bogle back when his first book came out and dutifully bought index funds. But I didn't know enough to know the difference between, say, a sector fund and a broad market index fund, nor did I have a clue about how bonds worked, so when my bond index fund NAV dropped because rates were rising (briefly back then, as they had risen so consistently for years that it was a shock), I would sell the fund, thinking something was wrong.
Now I have learned a lot more about stocks and bonds and how they work individually and am better able to choose the index funds I invest in and the fixed income vehicles I buy.
But that came only after studying various approaches, experimenting with small amounts of money to see how others that sounded just as compelling worked, and finding a place from which I am much more confident investing than I used to be.
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Depends on stage of life and finances at your particular stage of life.FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
why?
You have to earn income and save and so forth to have something to "invest", and the more you earn and save, the more you will be able to invest (chicken n egg cycle) but can be done concurrently.
So, early on: (money, wealth, attitude, ambition, attitude, values)
Richest Man In Babylon
Og Mandino
Allen Laken
Think and Grow Rich
Millionaire Next Door
and, in progress: (quicksand and landmines, people and things).
Dr. Phil McGraw:
"Life Code" (recognize toxic others and things that would seperate you from you)
"Life Strategies" (have a personal plan)
then investing along the way:
(Read the entire forum wiki, all of it, including the books suggested).
Continue doing the above until you are 90+
There is never 1 book or source, just the right book and source at the right moment in time for the right "you in time" that you need to hear at that moment and "will hear and understand" at that moment.
There's this description in this one pretty good book that talks about "seeds falling on barren ground or rocks", that's pretty good.
j
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
This.
One of the best books on investing I feel is JL Collins book.
His blog is a great resource as well. https://jlcollinsnh.com/stock-series/
The first book on investing I read “Charles Schwab : Guide to Financial Independance”. Is still great.
If you want a Boglehead book I would recommend the Three Fund Portfolio book over the Guide to Investing.
Rules to investing: |
1. Don't lose money. |
2. Don't forget rule number 1.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Why?Brianmcg321 wrote: ↑Fri Feb 12, 2021 7:58 am If you want a Boglehead book I would recommend the Three Fund Portfolio book over the Guide to Investing.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
When people say"oh, I don't know anything about money/finance," I give them a copy of Bogleheads Guide.
It's not my favorite personally, but it's a great introduction for those starting at nothing.
It's not my favorite personally, but it's a great introduction for those starting at nothing.
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
I found the light a long time ago with https://www.amazon.com/Random-Walk-Down ... 0393358380
It's still a classic, and offers a nice mix of entertainment and rigor.
It's still a classic, and offers a nice mix of entertainment and rigor.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
It's the book I recommend to people who are just getting started (e.g., nephew graduating from college) and people who want to learn how to manage their own investments (e.g., retiree thinking about firing financial advisor).JustinR wrote: ↑Fri Feb 12, 2021 5:40 amYes, it's all you need.FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
I can also summarize it as:
- Pick a good asset allocation. Start from 70% equities/30% bonds and go up or down depending on your risk tolerance and age.
- Pick a good domestic/international allocation. A recommended ratio is the world market weight: 57% US, 43% International.
- The only 3 funds you need: VTSAX, VTIAX, VBTLX (or any equivalents). Don't bother with any other funds or portfolio strategies.
- Invest as soon as you have the money available.
- Set aside an emergency fund, six months to a year.
- Rebalance once a year.
- Don't time the market.
- Tune out the noise. Don't read or listen to any financial news or personalities.
- ???
- Profit
I tell them 1) you don't have to read it cover-to-cover and 2) if nothing else, at least open it to the last chapter, which summarizes all the key points.
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
If you only want to read one book, this is the one to read. I read plenty of other books, but find myself re-reading the Bogleheads Guide periodically to make sure I keep my equilibrium. It also makes a great gift.FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Also a fan of Bogle's "The Little Book of Common Sense Investing". If you are looking for something more focused on personal finance rather than just investing, highly recommend "The Index Card" by Pollock and Olen and "Pensionless" by Emily Brandon.
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Its a matter of personal preference. Six one / half dozen the other. Get both, you won't be disappointed.FIREGuy88 wrote: ↑Fri Feb 12, 2021 12:13 pmWhy?Brianmcg321 wrote: ↑Fri Feb 12, 2021 7:58 am If you want a Boglehead book I would recommend the Three Fund Portfolio book over the Guide to Investing.
That being said, I have read dozens of personal finance books and I get a little something out of every one. But I really enjoy reading about this stuff.
Rules to investing: |
1. Don't lose money. |
2. Don't forget rule number 1.
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
I randomly picked it up at the library circa '10. I was already a prodigious saver and had opened my first IRA at 15, but I was pretty ignorant about anything other than LBYM and save. This was my step towards having a more than layman understanding of personal finance. I've since read dozens of others, but IMO, if this is the only investing book one ever reads, you'll know 98% of what you need to.
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
It's difficult to answer your questions without knowing your age, savings, investments, etc., but:FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?
_Yes, it is a very good book, especially for new investors but really for all ages, to get a solid, overall view of all aspects of investing.
_No, it is not the only one that you will need and I can't think offhand of any book that would be the only one. You want to keep reading and learning all your investing life. I think the BH "Guide" authors would agree.
_Other recommendations again would depend on your age, investing experience, etc., but I would recommend John Bogle's Little Book of Common Sense Investing, and William Bernstein's The Four Pillars of Investing.
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
Re: Is The Bogleheads' Guide To Investing The Go-To Book?
Remember when you wanted what you currently have?
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
It depends who you ask. Personally, I started losing interest in finance books after my 3rd or 4th book. Many of the books suggested are all saying the same thing in different ways. However, they did give me the understanding and confidence to take an active (passive) role in managing my investments.
For anyone starting out... I'd say the go-to book should probably be "The Little Book of Common Sense Investing" - John Bogle. The read is short enough that you might get someone who isn't interested to actually finish it. There's enough meat on the bone that it could spark someone's interest.
If you asked my personal favorite book about investing when I started, it'd be "The Only Investment Guide You'll Ever Need" - Andrew Tobias. I actually enjoyed this book for the conversational tone it manages to sustain with the reader. Also, it's crammed with good general information.
For anyone starting out... I'd say the go-to book should probably be "The Little Book of Common Sense Investing" - John Bogle. The read is short enough that you might get someone who isn't interested to actually finish it. There's enough meat on the bone that it could spark someone's interest.
If you asked my personal favorite book about investing when I started, it'd be "The Only Investment Guide You'll Ever Need" - Andrew Tobias. I actually enjoyed this book for the conversational tone it manages to sustain with the reader. Also, it's crammed with good general information.
"The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence." -Charles Bukowski
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Re: Is The Bogleheads' Guide To Investing The Go-To Book?
The millionaire next door, the intelligent investor, the richest man in all of Babylon, the millionaire mind.FIREGuy88 wrote: ↑Thu Feb 11, 2021 9:23 pm Just picked up a copy of the Bogleheads' Guide to Investing: https://www.amazon.com/Bogleheads-Guide ... 118921283/
Is this book good? Is it the only one that I need? Any other recommendations?