After I Read 40 Books on Investing - Here's What Will Make You Rich
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- Опубликовано: 31 янв 2023
- This video looks at some of the best-selling books on money, personal finance, business and investing and I discuss how reading them has changed my mind on how I think about money, investing, and life. Can some of the lessons from the world's best investors also make us rich? Are the best-selling books actually the best books to read? Let's go find out and I'll tell you everything I've learned.
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it’s kinda crazy how nobody’s talking about Antozent, they are selling 150 self help books for the price of one
Reading 40 books on investing is impressive! It's great to see such dedication to financial education. The real key to getting rich is applying what you've learned consistently and making smart, informed decisions. Keep up the great work!
Reading and learning are crucial first steps, but the true transformation happens when you start applying that knowledge consistently. It's all about making smart, informed decisions and sticking to a solid financial plan. Keep it up, and you'll see great results!
@@MariettaDiane So true.
Best advice:
"Do not save what is left after spending. Spend what is left after saving" - Warren Buffet.
Didn't understand
Easy to say when you have unlimited money.
@@hanselteixeira8597
For example:
Have a fixed savings amount per paycheck. For example you are paid $5000 a month and your savings goal is $3000
Save 3000$ first and your left over spending budget is 2000$
Don't Spend $3865 and save $1135 because that is just what happens to be left over.
@@ShaanNotShawn ok now I got the concept thanks shaan
@@reheyesd8666 he has unlimited money by living by that saying. Now he has unlimited money.
For me I am over 50 now and became a 401 k millionaire and think the turning point was not taking my money out during 2008 2009 crash and just kept dollar cost averaging into the market. All my family and friends took their money out and never came back in, came back in but not aggressively, or waited to long and came in buying high. Trying to time the market and failed. I am just going to keep dollar cost averaging. S and P and world stock market. The real secret formula is compounding over time. Can’t win if you don’t play. But also we drive Hondas, save first and I know where every dollar goes and chose a wife who actually hates shopping.
This. Although, you kind of gloss over being able to stay in the market (i.e. have a job) during those nasty years. Some people..a lot of people...simply were not able to do that.
I drive a Honda too… so Am I on the right track? 😂
Well done by the way! I’m glad you made it!
I'm planning to be there by 50 and Good job! Hoping you can elaborate if you ever tried to invest yourself and if you borrowed off your 401k? How did that turn out
"chose a wife who actually hates shopping" - this is the ultimate piece of advice, because such a woman is harder to find than the best-performing stock. The alternative is to stay single 🙂!
@@Klaus80804 😭😭🤣🤣
I’m 25. Started reading financial books lately. I ditched social media and I’ve been reading more and studying what’s going on with the world and our economy. I feel like I’ve learned more from these books and applying them into my life than I did from college.
agree! me too I ditched social media a year ago. I am so stupid It's been 30 years that I am always playing the lottery. Now I don't have savings and I am so depressed. I have also started reading books and watching videos about finance and investing, financial literacy, and financial freedom. glad you made an excellent move at 25. Me I'm 48 now and I know nothing and I don't even have a skills. I just relied on luck and chance and that f*cking law of attraction! Do you think it's too late to start all over again?
@@LifeOdysseyMotivation I tell myself everyday as long as I’m still breathing and I am able to work it’s not to late. We just have to find opportunities and capitalize on them. I don’t plan to be rich, I just want my freedom. I still have trouble budgeting and I’m looking for a second job now just so I can invest more and save more. With you being 48 I can say you just have to build you a blueprint and attack it aggressively. From the things I’ve read, we have to understand the importance of acceptance. We have to learn to be happy with what we have instead of depending on the things we don’t have to make us happy. Trust me even at a younger age than you, I struggle to find more ways to increase my income and build skills because I have so much to learn and me being in Mississippi doesn’t really help with opportunity. I see what I want to do so now I just have to follow through. Set that goal. Go for it till you can’t go anymore. Don’t worry about losing, just learn from it. Every loss you’ve taken learn from it. Those losses are really blessings in disguise. I hope you find a way 🖤
@@LifeOdysseyMotivation Of course you still have a chance ! You keep on going and learning about finance.
@@achillescappaert4771 Thanks.
Can you share what you have been reading? :)
I bought 'Psychology of Money' and read it this summer because of this guy's advice and he's right. The book is a great. I wish I read it when I was 18.
The millionaire next door, is a great read. It is a PHD researched paper on millionaires in the US.
Quote "Think of money as a game, if you make a lot of money you have great offense. If you can save you have great defense. Defense wins the money game", or something like that
Yes I’ve just been putting it on as an audiobook! What a great book so interesting!
the best defense is a good offense
@@TobyNewbatt Tom Stanley's (same author) The Millionaire Mind (second book) also has the great quote "It's not really how smart you are. It's how you are smart." That was my first exposure to the author. As I got the book in, no joke, audio cassette form for maybe $0.25 at a library book sale. Speaking of great value for little money. (Libraries are also a great source of books if you have a well stocked one nearby, of course.)
PS If you have watched Berkshire Hathaway's annual meetings, sounds like a recurring theme from Buffett and Munger that they made most of their money by just sitting on their hands and doing nothing after selecting their investments. Although Munger shrugged it "didn't contribute to human knowledge" at one such meeting, I'd heavily recommend Robert Hagstrom's The Warren Buffett Way. (Any edition is good. Ironically that third edition might be weaker, given it features Berkshre's dog of an IBM investment, among not really contributing anything new.)
@@davidglad Thanks David for taking the time to comment!
@@Sharpshooter649 the best offense is great defense
Toby, thanks for the video and a lot of brilliant books to read, I would like to mention the book Astro Money Alchemy because that book deserves it, it goes deeper into all these mysterious knowledge and secrets of money so all the recommendations and once again well done for the video
“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” - Robert Kiyosaki
The rich has more than sufficient budget to buy food from what is left while the poor barely can’t feed themselves and their kids with the penny salary. 😢
land bc
@@finniebear6744 perhaps thats why you poor then 😅
Im rich
@@ikllnp hi Rich
Think and Grow Rich was not only about positive thoughts. It’s also about having a burning desire to create a product or offer a service. Then believing and manifesting the life you want through your conscious and subconscious. That’s a big part of how you can think and grow rich. Create and Manifest through a strong beliefs/daily affirmations!
Trash book with no clear direction to move forward or anything. Would a rich person look at himself in the mirror and affirm "I am rich/I am wealthy"? No. He would probably be taking action on his clear goals instead.
"It seems the harder I work, the more luck I have" Thomas Jefferson
Spot on. Becoming rich is a mindset thing.
@@d.dimitrov8972 I disagree. Positive thinking (affirmations, etc) does work. I can attest to it.
So 'The Secret' basically.
"everyone is a genius in a bull market" most golden snippet I've ever seen. People REALLY underestimate long term investing and the time value of money
borlest - forbidden money books (thank me later)
Scammer
Guys I am shocked. I didn't want to talk about this but I have to. I found a page of banned books and read Manifesting Money to see what it's about. I was shocked by what it reveals and saw the reason for it being banned
How can I read it?
I've been looking for that book and can't find it Is it banned or something?
Financial books have been so helpful. I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc... It is possible and very lucrative as long as all steps and details are followed.!!
Which books you have?
Brag brag brag . Who cares ?
Think and grow rich is my favorite one, it doesn't only ask for a positive mindset, it actually shows the path how to translate a desire to reality. This one book had a great impact on my psychology.
but youre still poor, thats his point, the book over emphazises the importance of positive thinking ang just keep going while this is not the key to financial freedom
@@umaiswaqar8075 Toby said that book is wishy washy
@@umaiswaqar8075it not only is the key to financial freedom, it's the key to everything. It's a book about manifesting literally all of your dreams. It's just not easy to read and is very anecdotal and people don't have the patience to truly understand it
It is the best book of all times
I read Rich dad poor dad on 2004 and it was my wake up call (several books after that of cause). It really did change my life. I retired at age 43(2017). Thanks to my friend to lend me that book.
Cam you give some investing tips please?
@@rajannaik5Stay poor
Thank you so much for sharing! So happy to see UK based youtubers sharing financial/investing knowledge 🥹
I’ve done graduate studies in finance, completed CFP education, applied everything learned into investing. Never, not once, have I beaten the S&P 500 nor the total US market index ETF. One exception was being a true (legal) insider in a business that went public over 20 years ago. This however doesn’t count because I was at the right place at the right time for that. I’ve been in broad market ETF’s with dividend reinvestment for over 15 years and sleep well..
If you ever listen to anything while reading comments, let it be this - read the book 25 money secrets from Donald Trump, then come back and thank me
Who the hell takes advice from a man who lies about pretty much everything including his personal finances and has filed for bankruptcy?
Thank you SO much for listing and linking the books in the descriptions. Thank you!❤
1. live beneath your means
2. save for an emergency fund
3. invest in index funds as soon as possible
4. start an account to buy the stocks you like (see if you can do better than an index fund over 5 years)
5. invest in yourself and make yourself invaluable so you will get paid more
The best and simple 5 steps to financial freedom and nirvana
😊
Lifestyle is important - getting married - having a family to support is many times a shortcut to the cemetery 😢
I'm dumb because I don't understand stocks and investing. I'm like a 1 year old when it comes to finance. Where can I learn financial education?
@@anikatasnimsaba - firstly - you aren't dumb because you have a desire to learn /
All it takes is some kindness and time from another person to explain things to you in a slow understandable manner...
It’s all about goals. If it’s having money for retirement (my goal) just dollar cost average and reinvest dividends and don’t panic when market tanks for a bit. I would also say just choose an S&P index fund and save on expenses. I’m 60 and have approximately $4.5M. I’m a retired government worker and my wife stopped working full time when we had our child. We live in the Washington DC area so cost of living is higher than most of US. Live within your means and pay yourself first….
Pretty much my same goal, also government worker, but 30 years younger and 4,2 mil poorer. Also, coming from a much poorer country but I we also lot $ less to be comfortable I guess. Great post.
That's awesome. It sounds like you're set for life in regards to finances.
I am 56, I am a lawyer, a pro DJ and a music producer, most of my life I spent working on contracts, records and behind DJ boots. I never paid attention to investments but on the back of my mind there was a sort of growing appetite for this subject. I have read a few books in the past months and I saw these videos and I finally took the decision to invest money into an Index fund. I have a lot to learn and I am very happy I have discovered this channel as I can finally understand the basics. I believe that there won't be U-turns and that I will have to spend some time every week in learning and investing.
Lawyer and a DJ? You play with the law?
@@jinfin221 Oh yeah, drafting is something alike DJ'ing (sometimes....:) )
Great video. Money a users guide definitely changed my life!
Just finished reading the little book of common sense investing and it’s fair to say that i would only invest in index funds.
I love how these books always talk about the basic stuff. And I mean the really basic stuff. No framework, or how to start your portfolio, which best practices are exactly helpful, or structured cash flow possibilities are mostly used. No understanding about taxes, financial loopholes, etc.
Because the book is just a consumer good, that is one way to make money off the people who buy it!!
Can you be the first to write that type of book and then make your coin by teaching us how to make ours?
Wow - that attracted the scammers as flies to sugar!
So whats a good book ?
Thank you for this very practical video with good advice on what to read. I already have a few picked out that I'll will take a look at. Although my goal isn't necessarily to become ridiculously wealthy ( Would still take it if I had the chance), my main goal is just to be financially stable, make plenty of money without too much worry and to be able to retire comfortably. Thank you for the advice!
I just hit a realisation, that I earn money and while I thought I was disciplined I was not. The time when I made the most money was when I had no free time to spend it or even think about it.
Well, I don't want to over work myself ever again for someone else's company... I can spend my free time more wisely.
Thank you for the book recommendations!
Great video, I love reading and investing so I got some good tips here. Of those books mentioned here I've already read Rich Dad Poor Dad, The Intelligent Investor, Randon Walk Down Wall Street, The Little Book of Common Sense Investing. All great books, but my favourite book on investing is Jeremy Siegel's Stocks For The Long Run, man I wish I had read that when I was younger!
What lines did you like the most or was important in the book stocks for the long run?
Hi Toby, such an amazing video. Thank you for sharing. I have read the Psychology of Money and The Millionaire Teacher of Andrew Hallam. These two books and your great content in your channel inspired me in my journey of investing. I only regret I started at 33. I wish I would start in my 20 in my investing journey. My next read will be The Little Book of Common Sense of Investing of John Bogle.
Bought ‘A random walk…’ after your recommendation.
What an amazing book! Thank you!
The second chapter feels like it’s describing the last five years…
Such a great book that’s got some timeless lessons!
Great video, really useful, definitely added a few books to my must-read list, thanks!
I think The Richest Man In Babylon was a great book on basic personal finance. Not necessarily investing-centric, but about how to create a personal economy that lifts you out of the cycle of debt and poverty into wealth. Great video! Best financial advice I ever heard related to living below your means - The Rich stay rich by living like they're poor. The Poor stay poor by living like they're rich.
Love the book
More beer the richest man in Babylon is the best book ever written. It is very underrated because it isn’t really by a motivational author. George S. Clason was a real business man. There is a lot to learn from other mentors. Wealth is a study, no one can do it for you. But the richest man in Babylon. It is my belief is if you can’t save money and keep it, you can’t get wealthy.
My fav book❤
Yes the Richest Man in Babylon is a great book
Best book ever ❤
The key principles are easy to identify but difficult to follow. They all require discipline, hard work and sacrifice today for a better future:
1. Earn more & spend less
2. Long term steady investment in index funds with the lowest fees
3. Don’t rent, invest in owning and the tax advantages & inevitable inflation effect
4. Try to develop income producing potential from real estate even if it is simply living where you can have a garage apartment to rent or living in a small duplex rather than a big single family house.
Thank you so much for providing us with the list of books. It would be really helpful for me to start my investing journey.
Great video, I have read most of those books and agree w/your assessments and conclusions. Thank you! San
What will make you rich? Write books telling people how to get rich
Great video mate. I’ve only read 20+ books on finance and investing and I concluded that the majority should not try to beat the market. Getting rich is a mind set of discipline and living below your means to truly build wealth and not just look rich. Dave Ramseys’ seven baby steps are a great way to get disciplined and Warren Buffet’s 90/10 portfolio is the way to go. It does not get easier than that. I’m living proof that it works.
Ever read Reminisces of a Stock Operator? Market Wizards? The folks that do beat the market get rich, and many of them are terrible at money management, but stay rich because they are good at making money. But most people lack and the passion needed to be a successful speculator. So yes, for most folks trading is too stressful or too boring or too hard. But I believe more would be able to make it work if they tried.
same thoughts mate. Ive tried to beat the market and got really ahead and lost everything. I could repeat that every cycle but thats not the point of smart investing. Now going for the long term with discipline and knowledge about how this look and that history repeats itself so no need to panic sell/buy if things go south
There needs to be another way cuz what’s the point of hoarding money you can’t use esp if u don’t have kids. I get you should save that makes sense to have a rainy day fund but what’s the point of life if you did nothing and lived like a hobbit for 20 years just to use it for medical bills later 👀
@@lavenderrose1107 you can choose to live however you want but to live to impress others is very stressful, especially when you become a slave to your material possesions. I can work whenever I want and spend most of my time traveling, running competivelt, and scuba diving. I dont have a million dollar home or 100k cars but I have freedom. To me, it’s the best way to live. It’s total freedom.
@@imdoc7872 I completely agree and that makes sense living the life you enjoy and that brings you joy
I’ve read some of the books here too!! Great video, great choice of books thanks for sharing
Great video, really enjoyed it. My favorite strategy is simply dollar cost averaging into solid index funds. Keep it simple and don’t try to get fancy or impatient 🔥
Such a good video Toby! Your take on the fact a lot of successful investors are outliers is so important.
Agreed. You've got a good perspective Toby. Keep going. Gambatte!
I'm calling a collab!
@@robertoc4271 please! Both great RUclipsrs
If asked to recommend an investing book to someone, I would probably recommend that Bogle book, Common Sense Investing and then several books by Ken Fisher. Maybe Debunkery and the Only Three Questions that Count. Fisher is tops for me as far as getting the big picture, debunking myths and learning to question things we have been taught. Fisher is a unique dude and extremely intelligent He leans to probabilities and does not go with the crowd. I really enjoy his books. I did like Peter Lynch books too and I am curremtly reading a Greenblat book ab the magic formula.
The psychology of money is as much about mindset as investing. Great book.
Toby, this is up there with one of your best videos to date. So much of what you say resonates with me personally, and i'm sure it's the same with many other UK investors. Thanks!
Thank you so much for the support!!
Reading before sleeping is a great habit can't recommend it enough it improves sleep and personal growth and you retain more information right before sleeping
There is no secret. There are a million equally (and a few not so equal) ways to approach investing. There are no magic bullets though, which unfortunately is what most people are looking for. You will still need the bedrocks of patience, discipline, consistency and risk management.
Awesome video. Must watch to follow the best books suggested. Thanks for
The great video 🎉 can you also do some more videos on other investment reads that you have done
Thank you! Will do!
Thank you for sharing! I’m going to read psychology of money next now
Hi Toby, Thanks for the video.
I had “Rich dad Poor dad” for several years in my bookshelf and I never read it because I was scared of investing and always found something not comfortable. One day , I decided to read the book and gave myself ample amount of time and zero expectations.
After reading the book for one time, I did again for the second time. Well, I’m also not rich as of today, but the knowledge and wisdom from the books gave me confidence on taking risks.
Guess what in 2 years I purchased 2 single family homes. I have purchased a townhome in Aurora, IL and remodeled it and sold it after an year for a 20% Profit during the peak of COVID.
I totally agree with you and I Thank you for putting this video on how powerful will it be if we read at least a book every month, I mean some good books and experience the EXPERIENCES of the author and apply to our life in a positive way.
Love this comment thank you Shashi! And congrats on your journey too :)
@@TobyNewbatt Thank you Toby!
that book was what changed it all for me
I really appreciate this video… this was my same approach when I first became interested in investing, study study study and consume the information from the experts. I’ve only gotten through a few books over the years but years of videos and lesson and one degree in Business later I still have questions. I love your down to earth and honest approach. Thank you for this and I’d love to know what you think of Ray Dalios book, it’s on my list!
I think the absolute best advice in my own experience: the best lessons come from your own post analysis from your own trades/ investments to see how you do well and don’t do well, there are millions of ways to make money in the markets, you have to find your own. Think in probabilities, not just in gains, always respect risk FIRST. And stop listening to tv, news, hype. Always rely on yourself. Don’t make stupid decisions.
thank you so much for your drive and hard work !! Not only reading all of this books but also making this video. It would be great if you could do something similar with books about negotiation.
Great suggestion thanks!
A key point to add is you can’t save your way to wealth (and even if you did, you’ll be 60+). You have to increase your income
True. Luck plays a part as well.
Maybe not to be stinking rich. But I would be comfortably off now at 65, if I had known in my 20's what I know now about investing.
@@pingupenguin2474 Never too late to start, mate
If you invest 20% of your income for your entire working life you will be quite well off by the end of it. It's simple the market only goes.up.over time. Doesn't matter what you invest in as long as it's diversified
@@Dan847 20% is fantastic in general but if your income is too small it will be very slow. 20% of $100K is a lot more than 20% of $60K. Make good financial habits then increase income 👌
About being a practitioner. You can read about the basic techniques. And doing the basics will put you on the road to success. But practicing the good things is what makes you successful. Making new mistakes each time again and again won't bring you closer to success. So you're practicing and waiting for your chance while exercising probability
'The Simple Path To Wealth' was all I needed
Thanks for the excellent video! Besides the various instruments, there are also many different ways (value, trend following, contrarian - just to name a few) to make money. It really helps to find a style that matches one's personality. One Up on Wall St and the Intelligent Investor are great. I have also enjoyed Reminiscences of a Stock Operator, Market Wizard, New Mkt Wizards and More Money than God. Some of the books you have listed on the psychology/principles in life/investing are very helpful.
Another thing to take into account is ones own disposition regarding how willing are you to make sacrifices in order to accumulate, grow and retain wealth.
Obviously there's many ways to gain wealth. But it definitely takes time and perseverance. Rich dad poor dad is a good book. Lessons like, " don't let the world push you around."
M3.. multiple sources of income is something to remember. Passive income.. But you have to realize that you have to live your life as well, otherwise you'll be so rich, all you have is money.
So try find a balance in life. Wealth, financial success is just a certain percentage of wealth. There are many aspects to health and wealth that sometimes aren't divulged in books.
This is a great video! I've been thinking hard and going back and forth about what personal finance book to get my nieces and nephews as a gift for their 18th birthdays (along with a decently-sized check to put to use what they learn). I'm in the US and I've got 2 years to figure it out. Any tips on that front?
One book I didn't see here but I personally enjoyed quite a bit was "Your Money or Your Life" (2nd edition, from 2018) by Vicki Robin and Joe Dominguez. That one is in the running for my choice as a gift, along with The Simple Path to Wealth by JL Collins. Both great books. I've heard great things about the Psychology of Money, though, and your brief review just bumped it up my to-read list. I've also had my eye on I Will Teach You to be Rich by Ramit Sethi, which I don't think I saw in your pile, either.
A book that changed my financial life was "Total Money Makeover" by Dave Ramsey. Truly! Even better though, he gives away his money management concepts for free on his website. He provides simple, practical, concrete steps that anyone can follow.
yes, from the UK, love your videos please do more videos and talk about more books! thank you :)
Great video, would love to see your 'top 10' investing books, especially books that are of practical help to an aspiring private investor.
I read most of them and found most of them wishy washy as you mention. I read Rich Dad Poor Dad when I was 18. It was good then, but now it would be very basic.
The Psychology of Money and Basic Economics are the ones I still like though.
I've learned reading won't make u rich. Start a business or learn real estate and read on the side.
I have read these three. All great choices
Sound advice.
I would add that one of the best ways to get rich is to run a RUclips channel, build up a good subscriber base, and monetize it through advertising 😁.
I listened to many of the books on RUclips for free before going to sleep at night.
Cheers buddy! Yes if you can build up a massive audience on any platform that has massive value as attention is one of the most valuable things you can have in this day and age.
Hey,
What are the best books you read for understanding financial statements?
thanks!
Many thanks Toby, this is a great overview of a lot of books, several of which I will now be reading. I really liked Peter Lynch's book for the practical and simple advice it contained. The only book not on your list I would recommend from my reading is Free Capital by Guy Thomas. This is another UK book (published in 2011) and with 12 case studies of investors highlights the very different backgrounds and styles adopted by private investors to quite significant effect.
"Investing is an art, not a science but you can tilt the brush in your favor by stopping yourself from interfering too much and taking your emotions out of it."
Well said, Toby
well , Somewhere I read Investing is nor a art and neither a science but the skill which can be develop over time.
@@kushmishra5028 if anyone can do anything skillfully for a very long time then it becomes an art
Love some of the books you shown, but my favorites are Guy Spier “The Education of a Value Investor” and of course “Richer, Wiser, Happier”. These 2 were in your list but you didn’t mention them. Also, 2 recommendations: The Dhando Investir by Mohnish Pabrai and all 3 books from Phil Town. These are definitely in my top 10! Nice one.
That’s Caio! Yes I have richer wiser happier too it’s a great book I need to follow up this video is there is a lot to say 😃
I was about to recommend the 3 books by Phil Town as well! But then I ran a search on the page and found your comment.
I totally agree with you, and also Phil and Danielle's podcast is great. And I love Guy Spier's book.
Has anyone invested in the Guy Spier fund Aquamarine fund ?
Hey Toby,
I work in distressed debt and this is my list of books I've read on finance and investing generally. I'd recommend for general reading and understanding of investing. - listed in no particular order.
Top pick in many ways is: Security Analysis
But below all have something to contribute to the understanding of the investing environment to understanding risk
The Education of a Speculator
The Origin of Financial Crises: Central Banks, Credit Bubbles and the Efficient Market Fallacy
The Basic Laws of Human Stupidity
The Black Swan: The Impact of the Highly Improbable The Impact of the Highly Improbable
Antifragile: Things that Gain from Disorder Things That Gain
Panic: The Story of Modern Financial Insanity
See No Evil: Uncovering the Truth Behind the Financial Crisis
The Money Illusion
Renditeperlen aus dem Scherbenhaufen: Bankhybridkapital in der Finanzkrise
Greed and Corporate Failure: The Lessons from Recent Disasters
Crisis Economics: A Crash Course in the Future of Finance
The Holy Grail of Macroeconomics: Lessons from Japan's Great Recession
Planet Ponzi
bond and bond derivatives
Hoodwinked: An Economic Hit Man Reveals Why the World Financial Markets
Financial Shenanigans: How to Detect Accounting Gimmicks & Fraud
How We Know What isn't So: Fallibility of Human Reason in
FIASCO: Blood In the Water on Wall Street
The Ascent of Money: A Financial History of the World
Corporate Turnaround (Penguin Business)
The Art of Statistics: Learning from Data
Crossing Continents: A History of Standard Chartered Bank A History of Standard Chartered
China Cuckoo: How I lost a fortune and found a life in China
Mr. China
After the Welfare State (China Cuckoo: How lost a fortune and found a life in China
The Great Tax Robbery: How Britain Became a Tax Haven for Fat Cats
House of Cards: How Wall Street's Gamblers Broke Capitalism
The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron
Street Fighters
The (Mis)Behaviour of Markets: A Fractal View of Risk
Guide to Personal Bankruptcy and Company Insolvency,
An Economic and Social History of Britain, 1760-1970
The Shock Doctrine: The Rise of Disaster Capitalism
Exorbitant Privilege: The Rise and Fall of the Dollar
Extraordinary Popular Delusions and the Madness of Crowds
Thank you!!!!
Thank Tobby for recommending to us these books. I have just started reading The Psychology of Money. The beginning is already a bang! I am excited to continue reading tonight.
I admire the financial independence of people, But you can live better if you work a little more. After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early. To each their own but to me retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc. I don't think I could retire with less than $3m in income generating investments, maybe $2m at the very minimum. I plan to work until I'm at least 45.
An absolute stonker of a video. Essentially you've brought me up that curve, although I'll be careful which side I am on, and which curve!!
Grateful mate thanks so much for watching and the support! 👍🙌
Hi there, one of the most practical books on investing&trading I've read so far is Dale Gilham's book "accelerate your wealth". Highly recommend it! Thanks for your great overview, have a huge to-read list now :)
That book from the background "Just Keep Buying" is a good one.
A book I never see reviewed but I thoughly enjoyed was "How to get Rich" by Felix Dennis. He's passed away now but was one of the UK's wealthiest publishers. worth around £800m. It's a bit no nonsense and doesn't sugar coat it but also an enjoyable read. Worth checking out if you're looking for something different.
my guess is write and sell books about investing to get rich!
I’ll call my book how to get rich (the easy way) in book stores near you 😂
Great video!
On Think and Grow Rich-- you missed a key point about forming partnerships to solve problems (hence being of value to earn). That’s key learning for young people just entering the workplace.
Great video Toby. It would be great if you could do videos with some actionable tips. I'm dyslexic so find it difficult to read books. Although I've read intelligent investor and buffetology.
Thanks Toby and don't forget VUAG which is Vanguards S&P500 accumulation ETF. I'm a big investor in FCIT. It has beaten VWRL over 1,3,5 and 10 years! It's a FTSE 100 company that has been around since 1868! I started investing in FCIT in the early 1990's at 60 pence per share and today it hit £9.88 per share - Happy Days! Its also domiciled in the UK, unlike Vanguard funds that are mostly domiciled in Ireland. Just saying...... Keep up the good work!
I will check it out
@@TobyNewbatt Comment was meant to be on the Non-Vanguard ETF video but, somehow, ended up here! Probably due to me having too much Friday night wine!
@@petermorris3665 Haha all good Peter! I didn't even clock it :P
Good video. My main issue is everyone talks about becoming Warren Buffet. And so far after all these years there is still only one Warren Buffet
Thank you! Would love you hear more about your thoughts on the other books!
LOve Morgan Housel's book The Psychology of Money, as it's such a fresh take on finance. Great vid! Subbed.
Great video! Your approach is personable and kept me engaged the whole video. I like that you did a high level over-view but personally I think it would've been cool to have maybe one example from each book (e.g. a few terms, formulas, or quantitative ideas you learned from The Intelligent Investor). Nonetheless, I got a lot of value out of the video! There's so many books and it's a little intimidating and overwhelming to navigate and pick reads. Thank you for sharing your experience!
Thanks! definitely hard to get lots in for so many books, I've made another one covering just 5 :)
I enjoy a good book on finance, every now and then. You mentioned several of the books that I have read in your video and some that I have never seen. The last two memorable finance books that I read were the Psychology of Money by Morgan Housel and Infinity Investing by Toby Mathis.
The price of money - Rob Dix. Another great uk book 📖
Im currently reading "Just Keep Buying". I heard of some of the others and will probably read one of these picks next.
In my life experience, I've learned one thing that can absolutely make you successful.
"It's not who you know, it's how you know them."
The Stewardship of Wealth by Gregory Curtis, a wealth manager for the Mellon family who started his own firm, is a must read.
Thanks buddy!
For me, I read RDPD. From that point on, my whole outlook changed. What I am stuck with, is the correct "vehicle". Some marvellous books there and I will be purchasing a few of those. Thanks.
Thank you for providing insightful book reviews. Your channel has helped me discover new books to read.
Great video Toby, really enjoyed that. I’ll be ordering a couple of those books for sure. One I did read and found quite interesting was “Fooled by Randomness” by Nicholas Taleb. All the best mate.
Yes need to grab a copy of that one, I imagine lots of similar stuff from the Black Swan. Thanks as always bud!
I don't know that it would help you get wealthy, but definitely helps to aggressively question your own assumptions every once in a while
Excellent content!
I would welcome your thoughts on the benefits of investing in Index Funds like the S&P 500 relating to it's low management fee structure and ability to outperform almost 90% of all funds over the last 15-20 years.(exmple: J. Bogel's Vanguard "Voo" fund)
Thank You
thanx a lot for the list.
I want to ask, do u recommend
Basic economics : a common sense guide to the economy
👍 Thanks Toby, very good summary and helpful. I have started reading some of these books to start again from zero.
I haven’t invested before but I need to start. I had a popular convenience store that I owned and run for five years (may retirement fund) but I lost it in a catastrophic historic flood last year (insurance declined claim).
Many books are generic, but for the specific ones, do you have any recommendations for Australia 🇦🇺 market?
Hey Carlos! Sorry to hear about your loss. This is a great question honestly I'm not sure if there are any books that are great for the Australian market. Personally I think most of the lessons are universal such as long term thinking, compounding returns, being careful/ conservative with your investments and being aware of your biases etc.
Sir. How is it that you don't have two classics on your list? "The Total Money Makeover" (by Dave Ramsey)--A very simple read and with almost a 99% probability to make you a millionaire in less than 10 years, IF people would simply follow the process. The second is an oldy, The Richest Man in Babylon by George S. Clason. A very common sense read, but "common sense" is so very rare these days. Finally, I 100% agree with your assertion that most kids are sent out of High School and College without basic knowledge of personal finance, which is why I forced my children to take a Personal Finance course in High School.
I'm new to your channel but noticed that your audience are well versed with finance and investment. I've read most of these books and somehow shaped my investment outlook.
However, my starting point of reading self-help books were from these authors,
Napoleon Hill, Brian Tracy, Toni Robbins, Jim Rohn, Robert Kiyosaki and Dr Carol S Dweck(The Mindset).
My top reads are:
Eat That Frog by Brian Tracy
Mindset by Dr Carol S Dweck
Think and Grow Rich by Napoleon Hill.
I deliberately chose those books because business is a mind game and if you acquire the right mindset, you'll be unstoppable action-oriented entrepreneur, not a dreamer or setting endless unrealised goals.
Great book that got me started on my financial freedom path was The Index Card.
Very good review. As you said there is no magic formula as such but there are some evergreen principles for financial success. I found "The richest man in Babylon, The most important thing illuminated and Mastering market cycles" to be wonderful reads
the basics are only 2 things - learn how to do valuations on the securities you are interested in and learn to take advantage of markets by purchasing after prices fall at least 30% - rinse and repeat - as for macro economics, well, if inflation has peaked and is falling and and GDP growth is falling at the same time then the markets will give you a buying opportunity in 6 to 9 months
Why to read lot of books just understand how money works
The Psychology of Money is on my list now. thank you
Also The Simple Path to Wealth is one of the best books
Cool selection. I would recommend The Creature from Jekyll Island by G. E. Griffin. I think your general posture towards our "current" economic industry (and the investment industry) can't help but be augmented by this book. Cheers! Chris
Thanks Chris much appreciated!
I've read this book but would not advise. Griffin thinks the goal of neoliberalism is world socialism. I wish that were the case! I recommend reading Stephen Zarlinga's "The Lost Science of Money" or Ellen Brown's "Web of Debt" instead.
@@bebright6250 it’s important to be able to distill out the factual information (which is abundant within this book) and stray from thinking you must become allegiant to Griffin’s posture by virtue of having read this piece. There is an abundance of verifiably true data within that makes it worthwhile. I in no way advocate Griffin’s solutions - they’re dated and highly divisive by nature and they’re simply poor recommendations. Nevertheless, the problems articulated by Griffin in the first two acts are still evident and real despite his advocacy for distasteful remedies in the third. Thanks for the comment! 🤙🏽
(And i dig those other two cuts you recommend; esp Brown’s 🤙🏽)
@@TobyNewbatt Just finished a 2nd one or your reccommendations; thanks for the community guidance, playboy!!!....have you had a chance to glance through Jekyll? If not, DM me your po box/address....i'll mail you a copy this weekend. Cheers!