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The little book that beats the market is quite interesting. But I find holding and having to manage 30+ stocks difficult to manage.

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Just received the Great Crash from amazon- this will make for an interesting week-end.

 

Also, I am realising that good books are precious.

Yesterday evening, I have been given Rainer Maria Rilke 's " Letters to a Young Poet " -

and - I was so taken by it that I re-read it again this morning while watching money

printed( all legit).

 

I know some here appreciate philosophy and great litterature.

 

So here it is :

the collection of letters are beautifully written. The style is very gentle.

 

Behind the context - correspondance with a young poet seeking his advice-

Rainer Maria Rilke ( one of the greatest German poetry) explains his life/work philosophy.

In this time of high volatility, the calmness of his words does help

to make better decisions.

 

 

Really worth a read and reread ( only 10 letters though).

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I've got hold of a copy of the Final Crash by Hugo Boleau - only on the intro at the moment but its shaping up to be a cracker.

 

Also - On The Wealth of Nations - PJ O'Rourke- all his stuff is good. I don't need to wade through the whole of Adam Smith's 6 volumes now. :)

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If you want an easy read on the credit crunch which explains what is happening in a straightforward way, then Alex Brummer's The Crunch is worth looking at.

 

51+35DbgwDL._SL160_SS160_.jpg

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Guys,

 

We are all reading a lot of good books.

 

How about we come up with a rough format for book summaries.

 

It'll serve two purposes.

 

1) We make better notes for ourselves, maybe even remember some of it after two weeks and integrate it to our investing

 

2) We can share these summaries - and others can benefit. I mean let's face it, there's just too many books out there to read them all oneself. Sometimes a summary is better than nothing

 

How about it?

 

I can start, if somebody's interested besides just me.

 

My current reading list:

 

- New Paradigm for Financial Markets, Soros (2008)

- Financial Reckoning Day, Bonner (2003)

- Mobs, Messiahs, and Markets, Bonner (2007)

- When Markets Collide, El-Erian (2008)

 

But it's slow going with my dayjob intervening.

 

Anybody else interested in writing/sharing book summaries?

 

 

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Money, Bank Credit And Economic Cycles"

By Jesus Huerta de Soto

 

Published by the Ludwig von Mises Institute and available for

free download here:

 

http://mises.org/books/desoto.pdf

 

I have n't read it but I'm informed it's very pertinent in view of the current rumours going around about a new bretton woods type agreement being on the cards. It's 876 pages so not a quick read, anyone with time constraints may want to select the most interesting parts to help one to form an opinion if any such agreement were proposed. That will be my modus operandi, horses for courses.

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On the subject of books...I just finished reading Fred Harrison, 'Boom & Bust- House Prices, Banking and The Depression of 2010'

 

Has anyone read this book ? If so, what did you think of it ?

 

I enjoyed it, and have no qualms with his theory of 18-year cycles in the land market.

 

Only 2 complaints:

 

1) He tells us that land value cycles have become globally synchronized after WW2. However the evidence would seem to contradict this assertion. Japanese land values have been falling for quite a while and the German property market seems pretty stagnant lately too, although I think both are likely to see an upswing soon. The only markets which seem to be synchronized are the US, UK and Australia. Some other markets have seen upturns around the same time as these three, but it seems to be a result of British buyers opting for second homes or investment properties in Spain, Bulgaria etc

 

2) The title is a little sensationalist - he seems like a serious commentator, his predicitions are pretty much panning out nicely but predicting a 'depression' is a little risky. He's quite sketchy as well as to how bad this Depression will be, and why he thinks a Depression is likely and not just a bad recession like we had last time around. Unless of course, a depression and a recession are seen by many as one and the same thing.

I, however see a distinct difference between the two. to quote Ronnie Regan, 'a recession is when your neighbour loses his job, a depression is when YOU lose your own'.

 

 

Have just begun reading Harold K Shipler ' The Working Poor' - 25 pages in and it is excellent, I hope it remains so throughout the duration.

 

 

I read this too. I'd agree with your crits. He's a little vague on how the mechanism actually works - some hand-waving about 5% and vavoom - you have a 17-18 year cycle. I read the 2nd edition, and am not sure how much the book was altered post hoc to fit the events of 2007...

 

However, his predictive success does demand attention, and what he said about the land markets and speculative buying does make sense.

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(I'm interested in anything on Home Trading. Any tips? Elder's stuff any good?)

 

I just read Trading for a Living by Elder and was very impressed. I have also borrowed a copy from a friend of his later version "Come Into My Trading Room" and I would thoroughly recommend his book, in particular the final chapters about organising your time as a trader / investor.

 

If you want to get a copy you can run the following google search and there is a pdf download as the 3rd result down (PM me if you can't find it)

 

http://www.google.co.uk/search?hl=en&q...em%22&meta=

 

I am planning to try and start applying his techniques as a way of structuring my TA knowledge better. Has anyone tried using his methods?

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Just started "The ages of gold" by Timothy Green, seems really good.

 

Ages-of-Gold_Cover_Small.jpg

 

http://www.gfms.co.uk/publications_ages_of_gold.htm

 

The most comprehensive history of gold, written by the author of The World of Gold, the Gold Companion and the Millennium in Gold.

 

This is the history of gold mines,markets, goldsmiths and merchants,who, over the last six thousand years, made gold a symbol of wealth and power.

 

Building on forty years’ experience investigating the modern gold market, Timothy Green has sought out its ancient origins in Mesopotamia, Egypt, Troy, Minoan Crete, Greece, China, Rome, Byzantium, Venice and Precolumbian South America.

 

About the author

Tim Green is a well known author in the gold market having written The World of Gold, The Gold Companion and The Millennium in Gold. Tim also worked as a consultant on the annual gold surveys of Consolidated Gold Fields and Gold Fields Mineral Services (now GFMS) for almost three decades, focusing on the Middle East, India and the Far East.

 

 

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Am currently reading 1. The Black Swan and 2 Loadsamoney

 

Black Swann is OK, is getting more interesting as I get through it

 

LOADSAMONEY - is NOT an investment book - unless you are a fraudster! ^_^

 

I dont usually read the true crime stuff but this is highly entertaining and well written.

 

Armed with a single printing press, Stephen Jory flooded the country with millions of pounds' worth of funny money. Before long he was one of the best in the business, and like any good businessman he wanted to expand. But printing the money was one thing, getting rid of it was another, and in the underworld, expansion can mean getting in with some heavy characters. In Stephen's case it turned out to be the Russian Mafia and two gun-toting meatheads called Boris and Karloff. Stephen found himself drawn into a web of crime and intrigue that saw him by turns kidnapped, on the run, tortured, and ultimately staring down the barrel of a gun.

-----------------

He almost printed more money than Ben Bernanke/ Henke Poulson. Back then it was a criminal offence! :D Perhaps they will call him up!

 

Before reading this I would have expected all those back street printers to get wiped out in the recession. Now I would expect them to survive !!! B)

 

Following a visit to local libary and local 2nd hand book shop I now have a shed load to read including The Decline and fall of the American Empire which I am looking forward to

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Just started "The ages of gold" by Timothy Green, seems really good.

 

I have just started on that one as well having finished Gold Wars by Ferdinand Lips, the one that Errol recommended, very good book although a bit dry but it covers so much about why we are in this mess in the first place. IMHO it should be required reading for all.

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Geraint Anderson's Cityboy: Beer and Loathing in the Square Mile is in my pile of books to read - when I get the time.

 

I'm currently reading The Mystery of 2012, predictions, prophecies and possibilities, so there is a chance that I might never get around to reading Cityboy, given the time limitations of the world ending in the next 3 years.

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Reading "The Road" at the moment by Cormac McCarthy. Suitably apocalyptic . Also the movie release is due shortly.

 

Reading "The Road to Serfdom" by Hayek on a beach over the summer break.

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Geraint Anderson's Cityboy: Beer and Loathing in the Square Mile is in my pile of books to read - when I get the time.

 

I'm currently reading The Mystery of 2012, predictions, prophecies and possibilities, so there is a chance that I might never get around to reading Cityboy, given the time limitations of the world ending in the next 3 years.

 

I read some of Cityboy when his column appeared in CityAM - distributed free around London. It was OK but not enough to make me go and buy the book. I suspect Liars Poker - which I have not read but would like to is far superior.

 

2012 :lol: -and I had you down as one of GEI's more positive minded members :lol::lol::lol: . No repeat of Blighty's gold medal success in 2012 then! :lol:

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I read some of Cityboy when his column appeared in CityAM - distributed free around London. It was OK but not enough to make me go and buy the book. I suspect Liars Poker - which I have not read but would like to is far superior.

 

2012 :lol: -and I had you down as one of GEI's more positive minded members :lol::lol::lol: . No repeat of Blighty's gold medal success in 2012 then! :lol:

I'm more into 2012 being a rebirth than the end of it all. Actually, a little like year 2k, it will probably pass with a whimper.

 

As for the Olympics, the UK will win everything, including the ping pong if Boris plays.

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I'm more into 2012 being a rebirth than the end of it all. Actually, a little like year 2k, it will probably pass with a whimper.

 

As for the Olympics, the UK will win everything, including the ping pong if Boris plays.

 

...Becker? :blink: ... oh thats right... the guy with the funny hair. :P

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Ive just finished reading "The collapse of the dollar and how to profit from it" by James Turk & John Rubino. Im sure many GoldBugs here have read it already but I would recommend reading it if you haven't. First published in 2004, they accurately predict many things that have happened so far and what might yet to come. Its well written and has an easy going format.

 

http://www.amazon.co.uk/Collapse-Dollar-Ho...9777&sr=1-1

 

 

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HOW I CLOBBERED EVERY BUREAUCRATIC. CASH-CONFISCATORY AGENCY KNOWN TO MAN

 

by Mary Elizabeth Croft

 

... a Spiritual Economics Book on $$$ and Remembering Who You Are

 

PDF: www.hackcanada.com/canadian/freedom/mary_croft.pdf

 

HTML: http://74.125.77.132/search?q=cache:wVVoH9...lient=firefox-a

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HOW I CLOBBERED EVERY BUREAUCRATIC. CASH-CONFISCATORY AGENCY KNOWN TO MAN

 

by Mary Elizabeth Croft

 

... a Spiritual Economics Book on $$ and Remembering Who You Are

 

PDF: www.hackcanada.com/canadian/freedom/mary_croft.pdf

 

HTML: http://74.125.77.132/search?q=cache:wVVoH9...lient=firefox-a

 

Thanks great book. Do the loopholes still apply after all the terrorism laws that have been passed.

 

This can not be true.

 

We are the collateral for the interest on the loan of the World Bank. Each of us is cation for a birth certificate. The Treasury issues a bond on the birth certificate and the bond is sold at a securities exchange and bought by the FRB/BoC, which then uses it as collateral to issue bank notes. The bond is held in trust for the Feds at the Depository Trust Corporation. We are the surety on said bonds. Our labour/energy is then payable at some future date. Hence we become the ‘transmitting utility’ for the transmission of energy. The USG/CAG, in order to provide necessary goods and services, created a commercial bond (promissory note), by pledging the property, labour, life and body of its citizens, as payment for the debt (bankruptcy). This commercial bond made chattel (property) out of us all. We became nothing more than ‘human resources’ and collateral for the debt. This was without our knowledge and/or our consent, via the filing (registration) of our birth certificates. When mums apply for a birth certificate, the application is registered. The legal title of her baby is then transferred from mum to the State. Mum is left with equitable title of her baby whom she can use for a fee – a ‘usdoes not belong to her, she has to treat it in the manner which the owner wants

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Thanks great book.

 

Yep.

 

Do the loopholes still apply after all the terrorism laws that have been passed.

 

They are not 'loopholes'. You don't owe the banks anything, you never have, and if you simply ask them to provide evidence of this 'debt' they can't because it doesn't exist.

 

This can not be true.

 

'fraid it is. Anyone with a birth certificate is property of the state.

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I can not see how this can be applied to my advantage in the world I experience. It's commonly accepted today that witches do not exist. Yet people have been murdered for being witches. Their deaths were real. Human nature has not changed since 1612. It's commonly accepted that debt is real and needs to be repaid.

 

http://en.wikipedia.org/wiki/Pendle_witch_trials

 

It's trite to say so but power comes from the threat of violence.

 

You are usually tricked into contracting. I heard of a woman who was charged with writing ‘bad cheques’ and prior to sentencing was asked by the judge if she had anything to say. This is called, ‘allocution’ and is the time for the ‘defendant’ to say what’s so. Unfortunately, most defendants fail to take advantage of this opportunity to set the record straight. She, however, told the judge, “With all due respect, I do not accept your sentence.” The judge then said, “I sentence you to 25 years.” Again she said, “I do not accept your sentence.” He called both attorneys, who were now visibly irate, to come forward. The judge then asked, “Well, Ms. ... , would you think it kind of the court to sentence you to only 10 years?” Again she said she would not accept his sentence. The judge's final words, to the dismay of the attorneys, were, “I hereby dismiss this case and all charges are dropped.” He couldn’t do anything without her agreement. This is the power of contracts.

 

Saddam Hussain I recall did something similar. Law applies only when the PTB allow it to.

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