The BEST Investing Book Ever? (I Think So. Here's Why.)
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- Опубликовано: 3 июл 2024
- Is this the best modern investing book? I think so. Here's why.
0:00 - Introduction
1:15 - Nothing's Free (The 'Hidden' Costs of Investing)
6:22 - Reasonable vs. Rational (You Don't Have to Be a Robot)
11:17 - Luck & Risk
14:24 - Risk-Taking & Outcome Trajectory
Reading books on investing can help us improve future investment returns by gaining knowledge and perspective from others who have lived through more than us (in other words, they have more experience).
While most books try to convey one or two big ideas with stories spanning hundreds of pages, this book covers one idea in each chapter. As a result, this investing book is very digestible and efficient with the density of information presented.
In this video, I discuss my three favorite chapters (though I liked them all) and why I enjoyed them so much. These chapters/ideas include the "hidden" costs of investing, why it's ok to not invest like a spreadsheet, and the roles of luck and risk in investing success.
The Psychology of Money by Morgan Housel: amzn.to/2JeXhTv
Disclosure: The above link is an Amazon affiliate link, which means if you purchase the book through the link I will receive a small commission from the sale. It's a great way to support my videos. :)
➥ Hypergrowth Options Strategy Course: geni.us/options-course tastytrade, Inc. (“tastytrade”) has entered into a Marketing Agreement with Project Finance(Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade and/or any of its affiliated companies. Neither tastytrade nor any of its affiliated companies is responsible for the privacy practices of Marketing Agent or this website. tastytrade does not warrant the accuracy or content of the products or services offered by Marketing Agent or this website. Marketing Agent is independent and is not an affiliate of tastytrade. 
Хобби
Not an options trading video, but if you watch my channel then I know you're interested in making money. I strongly believe this book will help you make more money investing over your lifetime. Don't forget about more traditional investing approaches and educating yourself outside of options!
-Chris
Thank you Chris for this valuable video
Thank you for the video. I invested in Nokia and it dropped... what did i do? I lowered my AVG cost by buying more shares... and it dropped today again... yet again bought more to lower avg cost :'D... hope it doesn't keep dropping so i don't have to keep buying more.
@@MrRaja You have to do research and due diligence. NOK is a meme stock. If you fomo in the hopes of "easy money", that always (almost) a recipe for disaster
Hey man, you should make a discord channel for your subscribers to have a platform to discuss your videos and the market in general. Not sure if you would be into that idea.
I bought this book after your recommendation, and it was a great recommendation! Fascinating book, really put a lot of things into perspective. Thank you for the book suggestion, and thank you for everything I have learned through your channel.
Thanks for the recommendation! Will definitely be reading it
Your Teaching are very articulate......Easy to understand. Awesome dude👍
Looking forward to your next video!
TY So much learning so much from your page. I have been making alot of mistakes and your videos are helping me see what I did. I also want to get into option trading your videos are perfect.
I’ll have to check this out.
I listened to this book after your recommendation in one of your previous video, honestly, it is an amazing book. In my opinion, anyone who is in the investment field or thinking of investing should read this book.
Chris, All your recommendations are really excellent, let it be a book, or stock or an option strategy. Your videos gave me confidence to enter into higher price options and long term options.
Appreciate you very much.
I'm just getting into trading books and I've had this in my Amazon cart now for a month or so. Guess it's time to buy!
Thanks for sharing your comments Make a note to my trusted Trade , James to help you Make million + 1 5 3 9 2 0 4 4 5 4 6 he's strategies are top notch🇫🇯
Flawless timing... I was looking for a book exactly like this. Thank you very much.
Love this book, it's very great sort of change my perspective about money and investing!!!
That first chapter hit home. I had Draft Kings back in September. Around October it dropped 30% and I just could not. I sold, felt sick, thought maybe I should stick to SPY. Of course had I held, it would have almost fully recovered by December. I learned a lot from that and my reaction. We gotta keep learning.
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Thank you !
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Thank you, your Amazing.
Wish you all the best.
I don't know man, you were becoming the "go to" guy for detailed options advice and project options fitted that. Even Adam "in the money" was saying so on his videos, I'm just messing around, great videos man, thanks!
There is a lot of options content coming!
@@projectfinance Thanks, in my humble opinion, you are one the best teachers on here!
Trading in the Zone - Mark Douglas.
One of the best trading psychology books ever written hands down!
link to free PDF please
Thank you for another excellent video. one question: How is the life without colleagues as a trader/investor compared with your previous office job with colleagues? How do you cope up from loneliness if at all any?
thanks chris!
Blessed
Great video
Take a look at these companies in the battery industry. I think they have incredible potential:
Global Battery Metals (REZZF)
American Battery Metals (ABML)
American Lithium Minerals (AMLM)
Lake Resources (LLKKF)
Vision Lithium inc (VLI
Thanks for the video. I learn a lot from your content
Intelligent investor. OG of investing
That's a good one, but this book discussed in this video is brand new and is very digestible for everyone.
@@projectfinance I’m all in on it and ordering it today. Thanks
@@projectfinance The current version of Intelligent Investor does have large sections added to bring it up to date. But yeah, it's not super digestible for most people.
The Bit-coin market has proved to be profitable over time but it all depends on your choice of investment. Investing wrongly might have you ending up with losses and no one wants that.
It's always for bit-coin investors to venture into trad-ing because it is only by trad-ing bit-coin investors can survive bearish periods.
I think Bit-coin is moving to the next level, it's a wise decision to buy and trade Bit-coin,you can't afford to miss out.
Apparently that's true,I agree but it can also be disastrous for newbies or anyone who doesn't adhere to a well thought-out strategy and over all,a professional broker.
In a few years to come people will be kicking themselves in regrets if they miss this opportunity of buying and investing in the crypto currency market.
Wow I'm just shocked someone mentioned and recommended expert Mrs Kimberly
I thought people don't know her
Tq sir
Hey Chris, when is the next live session ?
gee, i thought you would recommend advanced books on option trading, perhaps simple to understand advanced concepts....could you do a video on how interest rates would affect option trading, esp when the fed is expected to raise rates pretty soon in a year or 2? How would LEAPS be affected? But also remember the underlying would most likely fall due to IR raise
Wow! A true eye opener. Life changing. Thanks.
I love this book! I actually just finished listening to the audiobook version! 🙂
It's a good one!
I am lucky to have found this channel and learned trading options the right way.
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Poor Charlie's Almanack is fantastic for investing and life. I also think Common Stocks and Uncommon Profits is a classic must read for investors.
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The perfect Investment choice is the key to financial freedom.
After studying this book, the next step is your Investment choice, it is paramount
Correspond with his financial advisor for help with that
He helped me make efficient Investments and passive income, I'm heading to a wonderful early retirement
@@noahwelck5395 thanks for this, I love this
Purchased! This is needed as the market is becoming increasingly volatile. Great review!
“LUCK!!! BuT I bUiLt tHe hOuSe I wAs bOrN iN” - Most “influencers” these days.
All seriousness, this was a great video. Just ordered the book. Thanks for putting it out. Also, really enjoyed your video on Options.
Can you Please suggest us books to learn more about option
awesome post! 💪
One up on wall street by Peter lynch
Trading In The Zone - Mark Douglas
Thank you and grab a copy! Is there any specific book teaching chart reading that you recommend?
Thanks for commenting write to my manager
Regarding to make millions in bitcoin investment
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Thank you for making this video! Much appreciated!
Hi
I would like to know how you make the detailed chart data according to the trade you have taken and profit and loss in accordance with the price movements of stock
And how you import the data to make those results, do you use google sheets for this ?
Ans plz
Thanks
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Good presentation. You 'll have abundance of luck.
Жги ещё! А ещё тебе повезло родиться в англоговорящей семье ))) Таким образом, твои незамысловатые рассуждения смотрят в разных странах, в том числе и в России. Мне вот интересно слушать оригинальную речь.
I've been following someone on youtube who has recommended these penny stocks
NNDM @ 4 NOW 15
FCEL @ 7 NOW 26
GEVO @4 NOW 14
BNGO @ 4 NOW 13
OCGN @ 2 NOW 10
he's also been on SBE and NIO for a long time. myself, I missed it and bought in later at 17 and 30 respectively. I didn't know about him until recently.
His next pick is NMGRF @ 2. a graphite mining company. graphite is used to make lithium batteries in the EV sector
Hi Chris. What do you think of the 1 billions dollars tastyworks acquisition ? Do you think you should have stayed there ? By the way are you related the Mike Butler from tastytrade ? You guys have the same last name.
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Just purchased book 📚 love reading 📖
Nice! You will enjoy it! It's an easy read and very practical.
@@projectfinance another book I found value in was “How to Make Money in Stocks” by William J. O’Neal outdated charts but basics like cup with handle have good breakdown analysis. Cheers
Are you doctor dividend?
Awesome...I'll check it out. What book do you recommend for chart analysis and strategies?
I'm not sure. I'm not much of a technical analyst/chartist.
Very well put, enjoyed it.
CGC To The moon 🌙!!!
Not an option book, but I love "Rule 1" by Phil Town
the best book for me is Trading in the zone Mark Douglas
Just and observation, In the same way we dont know the next price of a stock, we don't know how much time we have, something to think about.
True, but just because we may die tomorrow it doesn't mean we shouldn't try to plan for the future.
My favorite is The Misbehavior of Markets by Benoit Mandelbrot. It is extremely eye opening.
But you could also do both: invest long- term with lower risk/ reward, and trading options.
You need to teach your brother and Nick learn to make money trading options.
Hahah I'll do my best!
The best investment one can do right now is investing on Forex or Cryptocurrency though stocks are good but ever since I swapped to Forex, I've seen so much difference
@Ashley Woods I have been making a lot through forex trading which has been the main source of my income
@@williamporter1495 I have been thinking of moving into forex Can you please help me trade?
@@jadejc5971 Actually an expert broker handles my forex investments while I invest in some real estate with the profit I make
@@williamporter1495 How good is your broker, I'd like to invest too
@@jadejc5971 Forex trading is truly a game changer, It will be a lucrative move to take advantage of forex because it will be very profitable overtime
My favorite book is Trading for a Living
Sixth
DUDE. This book was fantastic. Totally changed my perspective about WHY I invest the way that I do.
I even wrote a script for one of my client's podcast based on the $8M janitor that's releasing tomorrow - inspired by (and crediting) Housel's lessons.
I honestly thought the book was going to be a cross between a motivational message + why you should just invest in index funds but it was soooooooo much more.
Great review. Love what you pulled from it.
Thanks Roger! I appreciate the comment! I am going to respond to your email as well haha sorry for the delay.
Rule#1 Phil Towns is my favorite book
Do you’ve Twitter account??
Thoughts on gold?
I like bitcoin much better and I'm worried that gold holders are going to sell and convert to bitcoin (I'm sure some already have).
@@projectfinance I got ptsd from buying tops like this before. Im gunna be buying companys with exposure to bitcoin on any dips. I like gold mining index that give me 10% div yeilds. can hedge and make money while it sits doing nothing. but it's been a rough hold with it not matching up with inflation.
Thanks for commenting write to my manager
Regarding to make millions in bitcoin investment.
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Interesting that you use the word "lucky" when it is akin to "fate"... Is there a possibility, based on other non-conventional beliefs, that your destiny was always fated...
you r lucky that every time when i passed out of watching youtube videos, 90% of the time your video was playing in the morning when I woke up
@@projectoption2007 there is nothing more to tell. I watched a lot of financial channels. But why would it goes to yours and not others I have no idea. it's either you did some something right to advertise yourself or you are really "lucky".
I like a Random Walk, Warren Buffet's biography The Snowball, Fail-Safe Investing by Harry Browne and Investment Biker.
Can you Day trade weekly options on tasty trade platform ?
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hi Chris, you are often using options for your trading, but why you are buying tesla stock instead of buying Tsla LEAP options? recently i convert my tesla stock to tsla LEAP options
I have options and stock in Tesla.
@@projectfinance why you buy stock instead of options? i think options is much cheaper and give the same effect if the price goes up, and minimize risk when price goes down.
@@padminiloka Because you have a time limit. If I buy a 2-year option with a strike price of $100 for $25, I need the stock price to be above $125 in two years for the position to break even. If the current stock price is $100 and I buy 100 shares, I only need the stock price to stay the same to break even. I don't need a 25% increase and I don't have a time limit. The downside of owning stock is you don't get the leverage you get with options. I prefer to have a mixture of the two strategies for that reason. If I don't have a super bullish outlook but I want to get exposure to the company, I buy shares.
First! I think..
Hell yeah
Lol before watching this video I was thinking to myself… “The psychology of money is really good book on money”
Hahaha it’s so good!
Never heard this book 🤔
One Up On Wall Street
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What is easy to overlook about luck is that luck can be, for the most part, a self made thing. Those Harvard twins had to get into Harvard to find Zuckerburg, you had to have the drive to send that email and pursue that opportunity. The self creation of luck shouldn’t be underestimated.
Exactly!
Thanks for commenting write to my manager
Regarding to make millions in bitcoin investment
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Yes you might be lucky, but Initiative goes a LONNNNNNNNGGGG WAY!! So had you not taken the hard effort to make some of these detailed videos and go through the growling pains you wouldn’t be able to have luck on your side as part of it. But yes luck is part, but not if you’re just sitting on your butt (unless you are lucky enough to be born into a connected/wealthy world).
Right, that's kind of the point. You can "choose" your luck by taking calculated risks. If you take a risk you can get lucky. If you don't, then it's much less likely.
Thanks for commenting write to my manager
Regarding to make millions in bitcoin investment
+1.....9.......1......7.......3......9.......6........5......8........2.......1 W....h....a.....t....s.....A.....p......p.
Just finished it per your recommendation. Great book and wish there were more like it! You should do more book recommendations.
Woah. I do not understand how you contribute all you’re success to luck. You didn’t land your internship due to luck. You got it because you put yourself out there. You did not do good at the job because of luck. You did good because YOU put In thr work. You did not get lucky and get a bunch of subs and likes and views, you make amazing education content. Credit yourself dude it’s not luck that’s literally insane.
You're right. I put in the work and put myself in positions TO get lucky. There's still luck involved (timing of internship, me not coming along 20 years from now to compete against dozens more options channels, etc).
@@projectfinance I get what you mean. I guess i wouldn’t consider that part do things “luck”. I guess more of destiny. It’s just how and when things happened no luck and no bad luck.
My favorite is The Richest Man in Babylon
Buying bitcoin is not investing, it is speculating. It's easier to make money when you understand that.
It's a speculative investment for sure.
Hi Guys! I am a beginner in investing, can you guys kindly suggest the books I should read and the order in which I should read them to learn efficiently?
Thanks in advance!
Hi, Chris. Can you recommend me which one of your video talks detail in Cash Secured Put and Naked Put? Thank you and have a greate weekend!
Respectfully,
Jay
@@projectoption2007 Thanks for the quick turnaround! I actually just learned "Covered Call" from your video yesterday and that was very thorough and detailed. My next object is to learn about Naked Put & Cash Secured put option strategies. Do you have a video that talks about them?
Rich dad poor dad!
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Random walk and intelligent investor?
Thanks baby face
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Unknown Market Wizards
My favorite Finance book is Basic Economics. It’s the anti brainwashing book.
by thomas sowell?
The Simple Path to Wealth
JL Collins
The only book you'll ever need to reach your goals
@Projectoption ?
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@@yahoofinance1764 How about an email?
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Email not available
Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today.