So what do you guys read/how do you collect info and read up on stuff other than just having a knowledge of the markets and what not? I only hold about 3 positions in a Roth IRA. I have my retirement index funds thing. But how do y'all get knowledge and stuff? I'd like stuff to read as part of my daily routine. Like, right now, I make coffee, let my breakfast cook, get on the various sports sites and boards, check the lines on a few of my books, maybe read some local news...what can I throw in there to make bank and get bitches?
I think two great books to read to find out if you are interested in this stuff are:
1) Morgan Housel’s excellent “Psychology of Money”
2) “How I invest my money” by Josh Brown and Brian Portnoy
There are a number of podcasts I listen to about Econ/the markets and you can watch CNBC for fun, but those two books will let you know if you want to know more or not.
I also pay a pretty exorbitant amount for a subscription to the financial times which is a newspaper that I think is one of the best in the world, talks to you like an adult and really clearly clues you in to what people that move markets think. I would get a subscription to that or the WSJ and if you like those then you are on your way. You will develop a general sense of ideas about macroeconomic trends, and then you will have some convictions and try to put them
In to practice with money.
Or you could just try to hop on Reddit/wsb and try to figure out what the hell people there are doing and ride a wave (this will not work well).
Or the simplest (and probably best advice) is just buy a few stocks of things you know. For most people this will skew heavily to consumer goods and tech, but guess what that is most of our economy. If you have any notions about players in your field, you can express a view by buying their stock or trying to figure out some emerging trend.
I look at it as a hobby and a mostly fulfilling one that has made me money (above s&p) 2/3 years I’ve done it. I don’t know if I will always do it, but for now it is fun.