how i trade and invest in stocks and bonds richard wyckoff

[scorpioncapital]

Great book from the 1930s, free - http://www.oxfordstrat.com/download/Wyckoff-How-I-Trade-and-Invest-in-Stocks-and-Bonds.pdf

 

The last 50 pages are pure gold.

[Guest notorious546]

different format's available too

 

https://archive.org/details/cu31924031269552

 

[scorpioncapital]

Thanks!

 

I like his points about:

 

- no need to rush into an investment because the opportunity will be gone, there is always time and always opportunity.

 

- study and investigate before investing. He said he studied for like 10 years on paper before buying anything (a bit extreme but still the point is well taken)

 

- know yourself. are you a trader, investor, speculator, none of the above?

 

- Study your mistakes religiously.

 

I'd also like to recommend the book, 'The Theory of Investment Value' by John Burr Williams. The case studies in the back are amazingly good. You can see for various industries how to analyze the value and how to think about investing in some companies or not.