Ask HN: Investing - where to Start in 2024? Hi HN, I’m looking for recommendations on the best resources to get started in investing. What books, blogs, or services would you suggest for a beginner? What were your experiences when startin, and what challenges did you face in first year of this adventure? |
> The average investor must hold the market portfolio. Anything else is a zero sum game. So figure out why you are different than average. (If you think you're smarter than average, note that they think they're smarter than you.) The result encapsulates some ancient advice: Buy stocks for the dividends, broadly interpreted. Take risk you are well-positioned to take. If stocks have great value to other investors for reasons either technical (liquidity, short-sales constraints, etc.) or behavioral, avoid them. [1]
[1] https://johnhcochrane.blogspot.com/2022/01/portfolios-for-lo...
Five years ago I sold such dead duck at enormous loss. I bought NVIDIA, because maybe those Bitcoin-nuts support it.
Also very similarly I bought 1992 almost bankrupted NOKIA, because it was so deeply in government contracts that it cannot go bust.
All other stuff in the 100 papers portfolio have been quite uninteresting.
The lesson I making here is this: If you buy funds, the fund manager is BY LAW obliged to balance the bucket. She cannot let those few winners run their due course and you will never get truly rich.