HOME

Here are some of my favorite books on investing and consuming:

Travel

Peter Greenberg -"The Travel Detective" . Peter is the travel editor for NBC/MSNBC. This man knows everything about the travel industry and is a master at getting the most for the travel dollar. Even if you make only one trip a year for vacation this book is worth the time and money. Peter dedicates an entire chapter to the paucity of actual frequent flyer reward seats, and tells you how to get the best hotel deals, car deals, etc. You can also find some of is writings on the MSNBC website.

Investing - Beginner

Beth Kobliner. "Get a Financial Life". Quick Read, no-nonsense info for how to get your financial house in order if you are in your 20's or early thirties. Accurate, useful info on what records to keep, which debts to pay off first, how to start saving for your goals.

"Millionaire Next Door." Very thought provoking read on what people with money really spend it on (nothing). The guy next door with a Porsche and Swimming Pool may LOOK like he has a million in the bank, but more than likely is up to his eyeballs in debt. In Texas, this is person is referred to as "all hat, no cattle".

Investing- Intermediate

Mary Clark - "Buffetology" - An insiders view of how Warren Buffet built the Berkshire Hathaway empire and a review of his stock selection methods. Warren invests "from a business perspective" and this book will require a small bit of math and a financial calculator. Not to worry, though. Mary guides you through all the steps in an easy to follow manner.

Peter Lynch - "Beating the Street", "One up on wall Street" . Stock-Picking methods from arguably the most sucessful mutual fund manager ever. Peter discusses anecdotal information, like walking through a mall and seeing which stores are crowded, as well as how to read a balance sheet and gauge the health of a company.

Investing - Advanced

Burton J. Malkiel -"A Random Walk Down Wall Street" - Discusses index theory, which is Vanguard's claim to fame. Truth is that most fund managers cannot outperform the market. Even the ones that do still have difficulty outperforming the indexes over long perioods of time due to expense ratios. The book also has some advanced theory on how to trade options and use options as insurance for your portfolio.

Warren Buffett - "Essays of Warren Buffet:Lessons for Corporate America" - 30 years worth of annual letters to Berkshire Hathaway shareholders from Warren Buffet, indexed by topic. Read this one AFTER you have read "Buffetology", as it is heavy on philosophy and does not cover the number-crunching methods necessary to evaluate stocks in the Warren Buffet fashion.

Thought Provoking, But Dubious books about investing:

Robert Kiyosaki- "Rich Dad Poor Dad". Lots of catchy slogans and motivational speeches, but Robert's anecdotes of how he ammassed his wealth are shaky at best. Fortunately for him, Oprah did not do her homework and Robert is now raking in the dough from sales through Oprah's book club.

Charles J. Givens - "Wealth Without Risk". Givens gives some good advice on taxes and insurance (how much you really need). Keep in mind that he died penniless due to fraud lawsuits and passed this legacy of debt on to his family through further lawsuits to the Givens Foundation. Here is the disturbing epilogue to the book.

Joe Dominguez and Vicki Robin - "Your Money or Your Life". Very enlightening thoughts on the "cost of work". A Manhattan Investment Banker may be making the same standard of living as a plumber in Iowa when you consider the cost of housing, food, clothing, and other business "necessities". However, the book also encourages people to turn their backyards into gardens and their garages into repair shops - something most Homeowner's Associations would definiitely poo-poo.

HOME