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February 03, 2014

"50 Unfortunate Truths About Investing"

Really excellent. 11 of the first 12 alone--I don't care for #9--are worth the price of admission.

Comments

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Neil Ferguson

#34. #34. #34.

Neil Ferguson

#47...which variables? Where science becomes a crap-shoot, er...art

Jack PQ

Mostly very good but you only need to remember one:

31. The low-cost index fund is one of the most useful financial inventions in history. Boring but beautiful.

If you absolutely have to be creative, the value, size, and momentum anomalies appear to have stood the test of time. Personally though I am skeptical.

Lastly, (17) is dishonest. 99% of finance professors will teach you about diversification and index funds, not about stock-picking. They do not claim to know how to get rich. But neither are they bankrupt!

tj

Number four is my favorite. This applies to a lot of other areas in life as well.

Clay

35 - pay off all debts first
34 - save
then, if you have leftover money laying around
31 - invest in low cost index funds

Given all the other advice and implications, I still don't see how people don't see the stock market as nothing more than legal gambling.

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