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|User Info||THE BEST BOOK EVER; entered at 2008-07-06 18:40:48|
Another vote for "Reminiscences of a Stock Operator". This book tells of trading stories from the early part of the 20th century. Because of this you might think it wouldn't be of any use to you today. And you'd be very, very wrong.|
Its fascinating to see the same sort of crap happening today happened decades ago, right down to the public always getting sheared. The bullish financial press, the vilification of shorts (the author wonders, "Why don't the bullish rumor mongers/pumpers ever get arrested?" Sound familiar?). The author notes that the public actually makes money in the late stages of a boom (when they enter). The problem is that they then hold down those shares all the way down when the boom ends. There are so many universal market truths in this book that you'll end up thinking that nothing ever really changes.
I've thought "Traders, Guns, and Money" and "Infectious Greed", were the books I'd recommend first, but this one knocked them both down a spot.