Lux Investing

Does reading books about business & Investing really pay off? is it worth the money spent?

I am trying to build wealth. as a result ive invested a lot of money in books about the subject (dave ramsey, suze orman, rich dad poor dad , etc..) i am just wondering if it is all going to pay off ? Is the knowledge gained from these types of books priceless?

Public Comments

1. There are good insights to be had in these books, but I would suggest you borrow them from your local library. That starts you on the road to financial freedom. I work at a library and was told by a lady who stopped buying all her stuff and started getting them from the library (books, magazines and dvd's and CD's) that she had saved over $30 000 over 8 yrs.
2. Yes. Reading books is good, very good, best. I always read books. I am wealthy due to books.
3. Knowledge is always power, however, knowledge produces nothing without action. Have you opened up a stock market account yet? Another thing, be wary of all the "talking heads," in the market. There are so many different people saying so many different things, if you listened to everyone, you would end up in the same place that you are right now. Beware of Robert Kiyosaki; he has get motivational skills but he generalizes a bit too much in his books. Like when he is talking about investing in rental properties. I don't recall him speaking about higher interest rates that banks will charge your mortgage if it is an investment property or take into account what bad tenants could do to your house, etc. Start putting your money in places that can produce action. Focus on the fundamentals of the company and try to follow what the institutional investors are buying into. They are the "big boys" pushing up the price of the stock...
4. I could never get it until I read "More Wealth without Risk" by Charles Givens. You have to find the book that is right at your level. Most really made their money by selling books on investing though, not by investing itself. Peter Lynch is my favorite. He is a very successful mutual fund manager. He would visit companies to see things like how extravagant they are, and how they treated their employees before buying their stock. He used the analogy that the stomach is the organ used in investing, not the brain.
5. You can never go wrong in educating yourself. This is the first thing you should do before investing any money. I would also take it a step further by making up a fake investment account using Excel. Give yourself a balance of $20K. Don't start too big becuase you need a balance that would more represent what you could actually do. Then use what you have learned to see how well you do. Another book that I would reccomend is "How to Think Like Benjamin Graham and Invest Like Warren Buffet". Almost 20% of the market fluctuations are hype. Good Luck
6. Reading about investing is always a good thing to do. But can you seriously become a good investor by just reading. I am not sure. Perhaps you should seek the advice of a professional investment advisor. Please read my profile.
7. Yes it will pay off, but let me make a suggestion instead of buying every book , go to the bookstore with a pen and pad and read and take notes, this is alot cheaper.