smithkt Posted December 19, 2007 Share Posted December 19, 2007 The company I work for is in the process of changing the provider we will be using for our 401K management. After meeting with the advisor to discuss the various fund options and my general investment goals, I came away with the realization that I know next to nothing about this stuff. I'm wondering if any of you could make any reading recommendations, whether it be books or web based, to help educate me. It's not my goal to become a broker, I just think it's important for me to have a much better grasp of what's happening to my money. I'd imagine a better understanding of this topic would enable me to work better with the adviser and improve my rate of return. Quote Link to comment Share on other sites More sharing options...
isleseeya Posted December 19, 2007 Share Posted December 19, 2007 did they give you a booklet with the various types of funds you can choose from ? i had received booklet and there were dozens of funds to choose from , with information broken down advising the level of risk , the types of companies and industries these stocks were placed in , etc Quote Link to comment Share on other sites More sharing options...
sundaynfl Posted December 19, 2007 Share Posted December 19, 2007 I would recommend The Essays of Warren Buffet Amazon link, an oldy but a great book by Ben Graham, The Intelligent Investor Amazon listing. One up on Wall Street Peter Lynch Amazon listing Quote Link to comment Share on other sites More sharing options...
Atlanta Cracker Posted December 19, 2007 Share Posted December 19, 2007 One up on Wall Street Peter Lynch Amazon listing +1 I like all of Peter Lynch's books Another good one is Winning the Loser's Game by Charles Ellis Quote Link to comment Share on other sites More sharing options...
smithkt Posted December 19, 2007 Author Share Posted December 19, 2007 did they give you a booklet with the various types of funds you can choose from ? i had received booklet and there were dozens of funds to choose from , with information broken down advising the level of risk , the types of companies and industries these stocks were placed in , etc I was given a general list of all funds with rate of returns going back as far as '87. The website provides more detailed information on each of them, but sadly, without the fundamental understanding, the data and analysis is of little value. This type of thing never really interested me, and that's probably been a very big mistake. I'm sure I would have been much further along in my retirement planning had I spent even half the effort on this as I did on fantasy football over the ten years. That is a mistake I hope to rectify now while I still have a lot of time before I retire. The guy I am working with is a very hands on guy and I'm sure he would spend as much time as needed to help me out, but I think I owe it to him and myself to get myself up to speed and let him put his time to better use helping me grow my money. Thanks to those who have responded thus far. I will pick up a few of those. Quote Link to comment Share on other sites More sharing options...
muck Posted December 19, 2007 Share Posted December 19, 2007 The ability for someone to get swamped in information is amazing... Some of those general books are good places to start. In fact, simply thinking and reading about "how to actually make money" (regardless of how) is a formative part of understanding how business works. So, "Rich Dad / Poor Dad" or "The Millionaire Next Door" type books may be a bunch of hooey as far as I'm concerned, they do provide some interesting insights as to how to think about money. Books about Buffett, Lynch, Soros, etc. are good too. I think that the three "Markets Wizards" books by Jack Schwager are interesting reads for those getting into investments -- essentially each one is an interview with a successful investor in how they do it and why they do it the way they do it ... Also, "Against the Gods: The Remarkable Story of Risk" is a history of how the business of risk assessment developed...and risk assessment is at the core of good investing. Next step after this would be to read about decision theory ... but, that can get pretty advanced. Reading stuff by Mandelbrot, Taleb, etc... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted December 20, 2007 Share Posted December 20, 2007 buy low, sell high Quote Link to comment Share on other sites More sharing options...
Chavez Posted December 21, 2007 Share Posted December 21, 2007 I doubt anyone has gone broke dumping money into companies that deal with energy or weapons. Quote Link to comment Share on other sites More sharing options...
Jackass Posted December 21, 2007 Share Posted December 21, 2007 for 401k allocations, a lot of these books will not help you much. i'd recommend something basic, like investing for dummies or something like that. the wall street journal puts out some decent basic investing books. you can find them doing a google search. Quote Link to comment Share on other sites More sharing options...
Sugar Magnolia Posted December 21, 2007 Share Posted December 21, 2007 If you are looking for a book just on how to select mutual funds I'd buy "Bogle on Mutual Funds" by John Bogle. If looking for a basic investment guide I like "The Only Investment Guide You'll Ever Need" by Andrew Tobias. Already recommended, "The Intelligent Investor" is good as well. Tobias' book is humorous and easy to read so for the person who finds reading about investing dry and tedious I'd get Tobias' book. Quote Link to comment Share on other sites More sharing options...
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