When I made the decision to become an investor and aim for reaching financial freedom through investing I knew I had a lot to learn. I decided to read at least one hour per day. This is exactly what Brian Tracy recommends. He says that picking the topic that interests you and devoting a single hour per day for reading about it will raise your level of knowledge to such a degree that within a few years you will be regarded as one of the experts on your chosen topic in your country. It’s so true! This single habit has changed my life but it was not that simple in the beginning.
When you start out reading and have no background knowledge you will notice that some reputable authors (investors is my case) are contradicting each other. I always take notes and after the first 10 books I felt puzzled because one of the top investors said A and the other one said B, the exact opposite. I had absolutely no chance to tell which of them was right so all I could do was to move forward: read, read, read and get some own experience so that things would start to crystallize at a later stage.
I’ve been reading 50-70 books per year for several years now. Besides taking notes I also devoted long hours to sitting in front of a blank piece of paper and trying to put together, synthesize what I have learned. This painful and long process led to the birth and fine-tuning of the FALCON Method. If you want to become a do-it-yourself investor, the best advice I can give you is to start reading today! Warren Buffett reads 5-6 hours a day and he is one of the best investors on the planet. This is no coincidence.
What should you read?What if I told you there is a book that distills all I learned and makes it available to you within a few short hours instead of the years I had to put in? Would it be a good start? Hundreds of books and years of experience condensed on 130 pages, this is what the FALCON Method book offers. (I certainly could have used such a book to steer clear of some of the most expensive ‘dead end adventures’ of my investment journey like microcap investing or highly leveraged trading.) Save time and get your attention focused on the factors that really determine your returns.
Don’t forget: whenever you start out in a completely new field, you will feel the lack of confidence that is absolutely normal! The best you can do is to shorten this initial timeframe by learning from someone who has been there, done that.
Question: What is your favorite book? (Doesn’t have to be investment related.) My Amazon wish list is growing at an extraordinary pace so please, show no mercy: send me your book recommendations!