These are the 5 stock market legends every aspiring investor should read about

Best-selling author and self-made millionaire Phil Town recommends reading up on these 5 stock-picking legends to become a better investor.

Online books are having a moment. They are the highest-ranked category in year-over-year e-commerce growth, surging 295%. Phil Town, an author whose investing books have been best sellers, is also a big reader of iconic investors who have displayed a penchant for writing.

Here are the five market giants Town recommends for reading material if you want to become a better investor.

Ray Dalio

Ray Dalio is the billionaire founder of the world’s biggest hedge fund, Bridgewater Associates. In 2017 Dalio published “Principles: Life and Work,” a book Mark Cuban has described as “A bible to the greatest skill an entrepreneur can have, the ability to learn in any situation.”

With the onset of the Covid-19 pandemic, Dalio has been releasing articles on his LinkedIn page and created a weekly newsletter, “Principled Perspectives.” Dalio provides insights into where the economy is headed, based on research and data generated from Bridgewater.

“He’s the guy I would look to and say, ‘How are we going to come out of this?’” says Town.

Warren Buffett

Warren Buffett is among the most successful investors of all time, and every year his company, Berkshire Hathaway, holds its annual shareholder meeting in the spring. It’s known as Woodstock for capitalists, and since 1977, Buffett has released a letter to shareholders available online in which he candidly discusses investments, mistakes he had made, and broader views on the good and the bad about the stock market and Wall Street.

Charlie Munger

Charlie Munger, vice chairman of Berkshire Hathaway and Warren Buffett’s longtime partner, is full of wisdom. While Munger will not be speaking at this year’s annual meeting for the first time in ages, you can still gain insights from his book, “Poor Charlie’s Almanack.”

Town jokes that while this is his bathroom book, Munger’s outspokenness offers advice to every aspect of life. In his book, Munger offers advice for getting through the day, particularly suited to the difficult situation the world is in now.

“Spend each day trying to be a little wiser than you were when you woke up. Discharge your duties faithfully and well. Step by step you get ahead, but not necessarily in fast spurts. But you build discipline by preparing for fast spurts.”

Mohnish Pabrai and Guy Spier

In 2007 two businessmen spent over $650,000 on a lunch date. Investors Mohnish Pabrai, founder of Pabrai Investment Funds, and Guy Spier, who now runs an investment fund based in Zurich, bid on the chance to dine with the Oracle of Omaha at an annual charity auction the Berkshire Hathaway CEO has hosted since 2000 at the Smith & Wollensky steakhouse. It apparently was a bargain: Last year’s winner paid over $4 million for the honor of sharing a lunch with Buffett.

That same year, Pabrai published ”The Dhandho Investor,” a book that lays out his framework of value investing.

Pabrai’s book tells the story of how the Patel family from India came to own over 40% of motels in America, expanding on principles of value investing. Value investing can be defined in more than one way, including an investment strategy for picking stocks that investors believe are trading at less than their intrinsic value, and stocks that are underperforming and therefore considered “cheap.”

After lunch with Buffett, Spier wrote his own book, “The Education of a Value Investor.” Spier’s memoir is candid and takes readers from the darkest corners of Wall Street to a practical guide on what it takes to become a successful investor.

Both Pabrai and Spier continue to post musings on personal blogs.

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[InvestorCenter]

Warren Buffett is the man to study to truly learn about investing

[turbomattk]

Phil Town has a great YouTube channel. The information that he teaches is way better than all of the other hacks that stand in front of a whiteboard.

[AthenaSaints]

Another one is Peter Lynch. Cintas was trading at cheap price, and I see Cintas truck everyday when driving to work; if I am not getting rich by investing, I just got Lynched.

[Tweetogreggieb]

A lot of you have asked me how do I trade, so here it is. I make every trade simultaneously by using friends and Family's accounts. I trade the upside And the downside simultaneously every trade, this way I'm guaranteed not to miss the trade and not to be manipulated by the platform broker's. This strategy works best with stocks not options, options expire. In fact option should be avoided at all cost with any trades because of its expiring component.
My NASDAQ pair is (TQQQ and SQQQ -1up & 1down shares needed), ..My S&P 5000 pair is (UPRO and SPXS-1up & 3 down shares needed), ...My Dow Jones pair (UDOW and SDOW- 1up & 2 down shares needed), ...My Russell 2000 pair is (TNA & TZA-1up to 2 down shares needed)) and My Vix PAIR is (SVXY & UVXY- 1up & 1 down shares needed).
These pairs cover the entire stock market. These are all Leverage stocks and all that you will ever need. With these stocks you don't have to worry about trying to find a stock to short because your playing the inverse side of each stock and the short is encompassed within.
Now this is how I do this, I first take the 52-week low and the 52-week high of each Leverage stock, ad them together for a total, then divide the total by two and come up with a middle number. If my current leverage stock price is above the middle number, then my pair is moving upward and the reverse goes for the down side.
Foot note: Only add to your position when the stock is moving in your direction period, any other way it's wrong.
You want to make money in the stock market this is how it's done. Remember where you heard it from, peace ✌... ...

[simona]

So here's the thing. None of these guys will help you much. I've read all these guys over the last 20 years. None of it will be something you can put into practice, except the basics you need to know anyway (how to value a business).

Go through all the books on Buffett and find the valuation method he uses. He doesn't say! Why because he makes extraordinary deals which even the big funds can't get because he has the huge pile of cash. Look at every deal of his, it was a large one done very cheaply
take for example the one he did with Goldman Sachs. Who else can get such a deal? Nobody. Overtime such deals allow him to get a huge annual return
That's it.

Dalio won because he rode tht bull market wave. His principles are nothing more than common ethics and those too only apply to certain specific situations.

Mohnish got lucky when he sold his IT company and made $$$. Since then he's used media attention to raise money

Learn the basics and practice what you like (industry that you have an interest in). These guys are just marketing noobs.

[ecki]

It´s all past and history. Abyss is waiting

[dasfun]

Just join r/WallStreetBets, if their advice didn't work just uninstall robinhood.
And start over again.

[williamd]

1.) Warren Buffett
2.) Ray Dalio
3.) Charlie Munger
For me these guys are the legends on investing. I'm following their advice and it works for me.