How do I go about it without any kind of education in business, finance or accounting? How much should I know? Spammers and shit posters stay the fuck out. It would be great to have generals in this board that actually focus on rigorous finance, business management, accounting and the stuff you find in colleges.
>>58447995dont read that book, dont read anything about Buffet. I did, and chose to put 20k in some value stock in 2016 which lost me 10k instead of NVDA.
>>58448026>dont read that book, dont read anything about Buffetisn't it a safe way of investing?
>>58447995start with some youtube channels for noobshttps://www.youtube.com/watch?v=YnKRpjqbmkM
I have a degree in finance and I've read a lot of finance books but all you truly need are two books;>the richest man in BabylonCovers the mindset required for wealth>A random walk down wallstreetExplain and lays out the path to wealthThere's no point in learning about finance and investing because the more you learn, the less you know. Instead focus on doing whatever field you're good at and increase your income. Accounting is just for losers.>TLDR; Increasing your Spending Power. Save more than you spend and have your savings compound, preferably with a low cost, well diversified index fund such as Vanguard All-World fund, ticker VWCE
>>58447995>needs le EDUCATION to balance the equation income = expenses + savings
bump
If you want to learn accounting/financials from the perspective of applying it to investing, check out this guy on youtubehttps://www.youtube.com/@CstewartCFAHis style is to focus more on cashflow and a bit of balance sheet to calculate company valuations. I found it very useful to learn from.
>>58447995I read that shit and ended up buying MUMUdon't trust anything /biz/ teaches you
Here’s the TLDR4 management rules:-Focus on the balance sheet, not the income statement.Many people buy a stock and sell it as soon as it has risen by more than 20%.On the other hand, if the stock falls, they carefully hold on to it.In reality, you have to do exactly the opposite.If a stock falls from its high by 10% or 15%, or from the price at which you bought it, you have to sell it at once. If you follow this rule systematically, after a few years you'll find yourself with a portfolio containing all your good choices, since the market will have eliminated all the bad ones, and your balance sheet will rise year after year, even though you'll be making losses most of the time.
Rule number 2The purchase price is of no interest, except for tax purposes. The value of the stock is equal to today's market price, period.This means that averaging down is the surest way to go broke, since not only have you not sold the crap, you've just added to it...Rule number 3The cockroach in the kitchen.Readers will have noticed that there is never just one cockroach, but that the appearance of just one of these charming insects heralds many more. The same is true of bad news, whether about a stock, a sector or an economy.Anons may recall...In July 2008, BNP announced that it could not calculate the value of shares in some of its money-market funds due to the uncertainty of putting a price on certain subprime-related assets. It was the first cockroach in a long, long series.We had to sell then and there, at the very least, all the financials without paying any attention to all the reassuring comments.Rule number 4This last one is more psychological: the stock you own doesn't know that you love it. Falling in love with a stock because the story is beautiful means substituting your own judgment for that of the market as a whole. It rarely works...In my experience, these are the four simple rules to follow, which are easy to understand and only require a great deal of discipline. Almost all the great and mythical managers I've known followed them without problems, and I follow them. There's no reason why readers shouldn't follow them too, if they so wish.
>>58447995why whoudl I waste my time learning all that shit when I can make money playinh games on superverse? GAMES dude, not wagie slavery.The DREAM
>>58452956well its true that you dont need a degree to make it in life, but that life wont be easy
>>58452972>>58452956It's not easy either way, some people are born with cheat codes.
>>58452016>The purchase price is of no interest, except for tax purposes. The value of the stock is equal to today's market price, period.THIS, THIIIIIS! And they dared to protest my store when alcohol was in shortage during the pandemic.
>>58447995
>>58452979did you raise the price faggot? no wonder they went after you, you are lucky it didn't catch fire or worse!