Economics/Investing

>>8631328

Be innovative. Now fuck off back to /biz/

>>>/biz/

>>8631338
>>8631342

I'll head to biz, my bad bros didn't realize this was off topic

>>8631332

I will read this bad boy though, thanks anon

>>8631354

Sorry for telling you to fuck off I am in a bad mood. It's not necessarily off topic it's just something geared more towards /biz/ and /lit/ is a leftist board that mainly dislikes capitalism fyi (inb4 /pol/tards, /lit/ has always been leftist face it).

>>8631328
Investing in stocks? If you want to make short term money, your not investing, your trading. Look up day trading if you have over 15k. If you have under that, don't expect to be making any money until you get good. Look up swing trading. Its considered an art

>>8631363

no worries bro I didn't take it the wrong way

>>8631369

is there anything sensible I'm looking at for limited funds? like 5k and under. sorry if that's a hilarious question, like I said I know nada about economics

>>8631392
Yeah, your gonna lose alot in beginning though as you learn. Like i said, look up swing trading. also, you need alot of dosipline. its very easy to think you have it, but youd be suprised how little you actually have. Dont ever stray from your pre determined trading pla . Also, eventually down the road you can start leveraging money. this means the bank gives you a ton of there money for you to trade. If you lose a certain percentage, usually 1 percent or something, they will take it away and your reputation goes down. Also use stop losses all the timw, there like condoms. But they dont always work like condoms. If a catalyst happens, it wont sell fast enough even if you put the stop loss at an obscute no. like 4.01 or 3.99

Is forex legit?

---------> /biz/

>>8631550
Forex is a real thing, yeah.

Will you make money off it with this one neat trick? No. If you ever have to work in multiple currencies (e.g. manufacturing/buying in dollars and selling in euros) it really pays to know some basics since you can shield yourself from substantial risk.

I wouldn't recommend speculating on it too much. I think with rudimentary knowledge making money off the Brexit pound crash would have been possible for example, but it's also a market that reacts to rumours, never sleeps and is used by con artists. So don't go risking your life savings in it or anything.

>>8631328
Devil Take the Hindmost
A Random Walk down Wallstreet
Bogle on Mutual Funds
If You Can by Bernstein

>>8631392
With 5k just start a Roth IRA with index funds.

I spent a year obsessively studying investing so I can help out.

First book you need is "The Neatest Little Guide to Stock Market Investing". Honestly just read the first few chapters to understand stock market terminology. I wish I'd picked this up earlier. Look up things on Investopedia as you go along.

At this point I would go on and on and list all the other books I read about how to pick stocks, but it's futile, and here's a summary explaining why:

>There exists a thing called the Efficient Markets Hypothesis, whose strong form states that asset prices already incorporate everything the market knows about the future state of an asset. There is a medium-strength version of the hypothesis, which adopts the weaker claim that “You are astoundingly unlikely to know more about any stock from reading the newspaper, seeing their chart on Google Finance, or consuming their quarterly reports than a team of PhDs who did nothing but study that stock for the last year, and accordingly are vanishingly unlikely to trade stocks in such a fashion that you do better than the market once you account for fees and tax impact.“

If you need more scholarly evidence of this read the works of Nicholas Taleb Nassim.

After understanding that paragraph, and realizing you won't be making money day trading, you should look into investing in index funds such as the FTSE 100 and S&P 500. You go long on this, meaning you buy the stock and keep it in there for at least 10 years. The compound interest will mean even if you invest just 50,000 you will be a millionaire by the time you retire.

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>>8631328

Pic related will have you covered on a huge array of stuff wrt financial market basics. Don't buy anything related to technical analysis. Most literature on trading is absolutely useless.

>>8631550
Forex is shitty as hell; currency futures are a little better. The Forex markets aren't real central exchanges, you're trading with a broker who is also a market maker, and they can & will screw you over by running your stops if it benefits them. Currencies are also just rough to trade in general, there's a lot more fundamental information being baked into the price than, say, a stock index and more black-box participants who buy/sell for no discernable reason and good luck catching those waves.

Retail trading is unprofitable for the vast majority of people, but you're much better off trying to trade DJIA or S&P futures than currencies.

The Worldly Philosophers
The Undercover Economist

>>8632891
you cannot be serious.

OP here just checked back on this thread, thanks for all the recs and advice anons. Currently reading that first recommended book by Sowell but I'll be sure to check the others out too

>>8631328
What helped me was:
A Random Walk Down Wall Street
The Intelligent Investor
>get the more recent annotated version, don't actually buy treasury bonds per 1940s advice

Several books in the Economist series, specifically on financial markets and commodities.

A tax guide like J.K. Lasser's might be worth a look too.

>>8631328
First of all, do you know maths?

>>8633840
he is imo correct though

>>8635191
Not OP, but how much math are you talking about? Do you mean calculus'n shiet?

>>8631363
>(inb4 /pol/tards, /lit/ has always been leftist face it).
[citation needed]

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>>8635173
Seconding this book

>>8632891
Sage advice -- i nearly tuck away 25% of my base salary every month in lifecycle mutual funds ... even a modest 6% annual yield has me at over $2.5m within 25 years due to compounding interest.

Good luck -- there are very few get rich quick schemes that work.

>>8631328
investing is notoriously unreliable.

people successful in the financial sector usually get most of money from their salary or bonuses.

>>8635191

OP here, I'm fairly versed in calculus up through vector and three dimensional calc and I'm currently learning differential equations.

>>8635259
>>8635633
Is it really necessary?