Secrets of Millionaire Investors by Adam Khoo & Conrad Alvin Lim
Adam & Conrad share their investment experiences in this book, offer reasons on why we should invest and different strategies (tools) for different categories of investors and traders.
Fundamentals are still hours of effort and hard work to acquire financial education in order to be a successful investor. There is no free lunch on earth.
Two important lessons about wealth were shared:
1st : Choose to consistently save and let your money work hard for you (by investing)
2nd : Learn how to create multiple streams of income
Readers can broadly expect the following topics to be covered in this book:
1. Rules of 72 : When your initial investment compound and doubled
2. Psychology & Habits of Successful Investors : Key issues to take note of
3. Investing Strategies & Tools : For Risk-Adverse Investors, Value Investors, Momentum Investors and Options Traders
4. Making money in a Down Market : Techniques to use, Indicators to watch out for
5. Applying your Knowledge Gained : Summary of approach
Some useful websites references are given in the book too:
http://www.wealthacademyinvestor.com/
http://www.akltg.com/
www.thewaytomakemoney.com/tools.html
Research:
http://finance.google.com/ http://finance.yahoo.com/ http://www.annualreportservice.com/ (for US companies) http://www.sgx.com/ http://www.moneycentral.com/ http://www.morningstar.com/
News:
www.cnbc.com http://www.briefing.com/ http://www.wsj.com/ http://www.investors.com/ www.federalreserve.gov/FOMC
Edu:
http://www.investopedia.com/
Online Brokers:
http://www.optionsxpress.com/ http://www.e-trade.com/ http://www.interactivebrokers.com/ http://www.thinkorswim.com/ http://www.cityindexasia.com/
A must read for to-be investors.
Cheers!
Leroy
"When I Stop Learning, I Stop Living."
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2 comments:
Hi Bro!
I agree that this book is a great start for any private investors.
However, my feel is that if anyone were to put down money and start to trade using the ideas in the book, it's very close to what Conrad quote in his book "A Little Knowledge Can Kill".
Though the book offers more than just "little knowledge", I prefer to go deeper into studying various topics that were covered in the book.
This involves spending a lot of time researching and reading many many reference books, financial reports, buying tools and paper trading before getting a even a small taste of the trade.
Most traders are just simply impatient about their education and get themselves burnt by the pros and money makers of markets.
Many others are not willing to invest in their education, tools and data feeds.
Finally, it all boils down to putting real money and losing it all (if not most) before a reckless man can learn.
Overall, it's a nice read with lots of good visual aids that can really help Adam and Conrad to upsell their offline "Wealth Academy" or derivative courses.
PS: Important thing to note is I've nothing against the Wealth Academy. It may just be too expensive for most newbies to learn solid trading ropes when they may possibly find them in cheaper alternatives like what Dr. Alexander Elder mentioned in his books.
PPS: The national library (NLB) is a great place to fish out many good+new investment and trading books just in case anyone is on a shoestring budget. But expect the long waiting time if you don't like to spend a cent on book reservations!
Bro,
I couldnt agree more with you on the "A Little Knowledge Can Kill" statement.:)
In fact, I've learnt to read from various sources, be it books, internet articles etc, to broaden my views and deepen my understanding on various topics.
I see you noted how the 26 yr old millionaire's business model to be become multi-millionaire! :)
Keep it coming, ya!
Cheers!
Leroy
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