There have been a couple of posts on books to read and these can be seen in the "Reference" section of forum, under the Topic heading of

1. Get Educated, or get burnt Author King Louie

2. Investment Analysis. REDING LIST for new starters Author Kan Guru

I read the book "Super Stocks" by Ken Fisher and sent him an email for names of other books he could recommend.

These are the books
[quote]

General Investment Books:



Graham, Benjamin, The Intelligent Investor, Harper & Row 1949.

Graham, Benjamin, and David Dodd Security Analysis, McGraw-Hill, 1934. Note, the original of this book is very much a reaction to the 1929-32 Crash.

Fisher, Philip, Common Stocks and Uncommon Profits, Harper & Row, 1958 (This, of course, is my old man).

MacKay, Charles, Extraordinary Popular Delusions and the Madness of Crowds, 1841.

Lefevere, Edwin, Reminiscences of a Stock Operator, George H. Doran & Co., 1923 (A fictionalization of the life of Jesse Livermore).

Dreman, David, The Contrarian Investment Strategy, Random House, 1980.

Train, John, The Money Masters, Random House, 1980

Proctor, William, The Templeton Touch, Doubleday, 1983.

Goodspeed, Bennett, The Tao Jones Averages, 1983.

Little, Royal, How to Lose $100 million and Other Valuable Advice, Little, Brown & Co., 1979.

Fisher, Irving (no relation), The Stock Market Crash and After, Macmillan, 1930.

Reilly, Frank, Investment Analysis and Portfolio Management, Dryden Press, 1985, (my all time favorite text).

Renshaw, Edward, The Practical Forecasters' Almanac, Business One Irwin, 1992.

Pring, Martin, Investment Psychology Explained, John Wiley, 1993.

Siegal, Jeremy, Stocks For the Long Run, Irwin Professional, 1994.

O'Shauhnessy, James, Invest Like the Best, McGraw-Hill, 1994.

Hagstrom, Robert, The Warren Buffett Way, Wiley, 1994.





Then, History books:





Fisher, Kenneth, 100 Minds That Made the Market, Business Classics, 1993

Fisher, Kenneth, The Wall Street Waltz, Contemporary Books, 1987.

Any of the "Business Barometer" books by Roger Babson from 1905 to 1930.

Levinson, Leonard, Wall Street-A Pictorial History, Ziff-Davis, 1961.

Oudard,Georges, The Amazing Life of John Law, Payson & Clarke, 1928.

Morton, Frederic, The Rothschilds, Atheneum, 1962.

Any biographies of: Berarnd Baruch, J.P. Morgan, The Wall Street Journal, Jesse Livermore, J.J. Hill, Jay Gould.

Klein, Frederick, and John Prestbo, News and the Market, Henry Regnery Company, 1974.

U.S. Department of Commerce, Historical Statistics of the United States, Colonial Times to 1957, 1957.

Dewey, Edward, Cycles, Foundation for the Study of Cycles, 1970.

Mitchell, Wesley, C., Business Cycles - The Problem and Its Setting, National Bureau of Economic Research, 1927.

Friedman, Milton and Anna Schwartz, The Monetary History of the United States 1867-1960, National Bureau of Economic Research, 1963.

Friedman, Milton and Anna Schwartz, Monetary Trends in the United States and the United Kingdom, 1867-1975, National Bureau of Economic Research, 1982.





All by Robert Sobel:

Dangerous Dreamers, Wiley, 1993.

Panic On Wall Street, Macmillan, 1968.

The Big Board, The Free Press, 1965.

Amex, Weybright & Talley, 1972.

The Money Manias, Weybright & Talley, 1973.

Inside Wall Street, W.W. Norton, 1977.

[/End quote]

When you get through these let me know and I will try and find some more

Happy days

Pedro

Thanks for that very comprehensive list, Pedro. I'll be sure to let you know when I've read them all .... in a few decades time!
I actually started reading 'Buffettology' last night and had to make myself stop reading it at about 2am. So far it's a great read, and I'm sure it will just keep getting better and better. If my investing skills and (hopefully)successes improve, that's a bonus.

Cheers
Judy

G'day Judy,
Good to hear you have started reading Buffettology.

My suggestion is once you have finished, have a day off and then re read it.

In the reference section of this forum check out "Pedro's Formulae" . All these come from my intrepretation of the methods outlined in Buffettology, and can be set up in Excel. Otherwise , get hold of a financila calculator for your computer ( I use a HP model), and use the Times Value Money (TVM) function.

Read page 41 and you will note the source of my creed

"The Price you Pay determines your rate of return"



Enjoy the rest of the book.


Happy days
Pedro

King Louie mentions ROE with relationship to retained earnings (Focus Investing), and Mirage is looking for info on Preference shares(simple question unanswered).

I have a book in my library called “Wonderful Company at a Fair Priceâ€

Hey Pedro, funny you should mention "Wonderful Company at a Fair Price", I was in a second hand book shop on the weekend with my brother in-law and we were trawling for stock books and that was one of the 3 we took away with us ($8). He wanted something fundermental and not as heavy as Buffetology, it looked the goods.

G'day King Louie,

Good work.
See my post under Reference "ROE : Profit and Profitability"

which is one of the sections in the book.

Happy days

Pedro

Hi all
I am new to this 'game' and in trying to learn as much as I can before parting with too much cash. I recently read 'The essential Buffett' and loved it. This week I bought 'The new Buffettology' by Mary Buffett and David Clark. I cant put it down. For the novice like me, {who doesnt have a background in economics} it is an excellent book with lots of 'for examples'. 'For examples' makes it a lot easier to get ones head around.

I have concluded, that what Buffet preaches, really is just common sense.
I have learnt lots of great stuff from this forum.....thanks to you all.

A couple of reads that the field:-

"Buffettology" has to be up there.

A very good general investing book I would give to my teenage kids . "Wealth Wizard" by Mark Bouris. Very readable. He even slags off property investors, which, considering where he gets his money from, lends some cred.

for SMSF DIYers, "Super Strategies for the 21st Century" by Daryl Dixon is very thought-provoking. He is an 'industry expert' and also independent. He writes columns for the Bulletin and Canberra Times - a collection of which can be found on his website - dixon.com.au

And an Aussie investor book I am reviewing in the General Forum "top stocks for 2003" by Martin Roth

Hi,
I called into the bookshop this morning with the intention of purchasing "Buffetology" there was not a copy in stock but they had copys of the " The New Buffettology"
They both sound good but has anyone read both and would care to comment
Should I try to find a copy of the orignal or purchase the newer one?
I know the libary has copys but wish to purchase so as to refer back to at any time
Garry

G'day Garryk,
I would borrow "Buffettology" from the library, and buy "The New Buffettology" . Or you might see if the library has "The New Buffettology" and borrow it and buy the other.

Incidentally there is another book called "The Buffettology Workbook" which is by the same authors (Mary Buffett and David Clark) and it has a step by step guide to the concepts and equasions outlined in "Buffettology".
I bought it from Angus and Robertson for $20.65 a few years back.

Pedro's formulae is based on some of these concepts, as is PmURE.

The workbook is good in that it is possible to work through the concept to fully understand it.

You will probably need a financial calculator to get the most out of the formulae in these books.

Have not read , "The New Buffettology" however, would assume it is basically the same as "Buffettology"

Saw on another of your posts you have Excel and about to try the various formulae.

Sing out if you need any help with these.

An extract from my post of 13/5/03[quote]King Louie mentions ROE with relationship to retained earnings (Focus Investing), and Mirage is looking for info on Preference shares(simple question unanswered).

I have a book in my library called “Wonderful Company at a Fair Priceâ€

Hi Pedro,

Your reference to Brian McNiven's book caught my eye. I would be interested to hear your impressions of the man himself if you attend the AIR meeting you mentioned on 13 Feb.

I look at his website from time to time
www.stockval.com.au and enjoy reading the material available there.

A couple of years ago he visited the AGM of Berkshire Hathaway and his account of it and of Warren Buffett is worth reading. As you would know from his book he is an unabashed admirer of WB and has much in common with him in his approach to share market investing.

Cheers,
Catron