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Reading list: Best financial books for all – Part 2 (July 2022)

In today’s article, we’ll be discussing the best financial books for all – Part 2. You can read Part 1 here.

If you want to invest as an expat or high-net-worth individual, which is what I specialize in, you can email me (advice@adamfayed.com) or use WhatsApp (+44-7393-450-837).

Introduction

Financial literacy is not only about GDP, talking about endless US debt, and working with stock charts. Most people do not need all this: it is enough to know how to manage personal finances, without going into the details of the global economy. However, according to statistics, many still do not know how to properly manage money.

Corporate finance deals with the investment and financial decisions of a corporation that affect a company’s performance. This include both short-term and long-term financial planning, which deals with the development and implementation of specific strategies.

These financial decisions typically include investment decisions: where and how much the firm should invest, how to raise the funds needed to make the investment, while keeping a close eye on debt-to-equity ratios and dividend levels, all of which relate to the return-on-investment benefits to shareholders.

Whether you’re a student, business owner, or finance professional looking to brush up on your skills, starting with corporate finance textbooks is a great way to learn both the theory of finance and the practical skills needed to understand financial decisions in the corporate world.

Tons of literature have been written about money, and this is no accident. After all, knowledge about finance is necessary for any person. In order not to get lost in the variety of works, we have made a selection of books that will definitely be useful – from specialized literature to fiction novels.

“Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You about Economics” by John Tamny

In ‘Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You About Economics’, Tamny translates the so-called complex and frightening subject of economics into plain language, showing that there is nothing mysterious about finance, trade, and budgets. In fact, in everyday life we ​​are all microeconomists.

“Economics is simple, and its lessons are all around us,” Tamny says. “But the Americans let the so-called ‘experts’ convince them they couldn’t understand, let alone grow the economy. Fortunately, economic growth is also simple. If you can understand the four basic elements of economic growth—taxes, regulation, trade, and money—prosperity will explode.”

Just like Freakonomics, Tamny uses pop culture and compelling stories to illustrate that understanding our economy is common sense — just look no further than the movies we like, the sports we watch, and the things we do every day.

By studying Popular Economics, you will learn:
How Paris Hilton and the Dallas Cowboys Help Illustrate Good and Bad Tax Policies
How Facebook and Monday Night Football demonstrate the detrimental effect of antitrust regulation
How simply cooking chicken wings shows why a floating dollar is a recipe for disaster
Why Downton Abbey and ESPN are proof the US should tear down its tax code

Available here.

“The New Case for Gold” by James Rickards

In this bold manifesto, best-selling author and economic commentator James Rickards defends gold as an indispensable store of value and benchmark of currency.

Global political instability and market volatility are continually rising. Gold, which is always wise to own, has become the most important wealth preservation tool for both banks and individuals.

Rickards draws on historical case studies, monetary theory, and the investor’s personal experience to argue that:
The next financial crash will be exponentially stronger than the 2008 panic.
Sooner or later, the time will come when panic buying starts and only central banks, hedge funds and other big players will be able to buy gold at all.
It’s not too late to prepare as a nation: there will always be enough gold for the gold standard if we set a stable, non-deflationary price.

Offering clear instructions on how much gold to buy and where to store it, the short, provocative argument in this book will change the way you look at this “barbaric relic” forever. Available here.

“The Investor’s Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between” by William Bernstein

Four books by William Bernstein about the history of the economy and how to survive in the stock market have become bestsellers. So, he decided to write his fifth manual. The book is understandable and interesting not only for people who know economics, but also for those who do not have professional experience in this area.

The author is the idol of young investors, and in a sensible language explains everything that at first glance seems very complicated. William Bernstein provides answers to the questions “how to plan investments in a crisis”, “why a dangerous market situation brings more income” and “how to reduce possible damage to your budget in advance.” And most importantly, the book will teach you to never forget that market crashes happen systematically.

Against the backdrop of the current market maelstrom, this timely guide describes how to plan for a lifetime of investing, in good times and bad, discussing stocks and bonds, and the relationship between risk and return.

Filled with detailed ideas and practical advice, the Investor Manifesto will help you understand the basics of executing a lifetime investment plan, including how to survive in the investment industry, the practical implications of market efficiency, how much to save, how to maintain discipline in the face of panic and mania, and what means to use to achieve financial security and freedom.

Key points:
Written by bestselling author William J. Bernstein, very popular for his views on how individual investors can manage their personal and pension funds in a wiser way.
This book examines how the financial landscape has changed a lot over the past two years and what investors have to do about it.
Contains practical ideas understandable to the average investor.
Focuses on the concept of Pascal’s wager – identifying and avoiding worst-case scenarios and planning investment decisions based on this.

With the Investor’s Manifesto as your guide, you will quickly discover timeless approaches to investing that will help you thrive over time. Available here.

“Multiple Streams of Income” by Robert Allen

You can make your money work for you 24/7. New sources of income have appeared – it’s just up to you to find them, and Robert Allen, who has helped millions of people increase their wealth and achieve greater success, will show you how.

In ‘Multiple Streams of Income’, Allen reveals nine proven ways to generate income that anyone can use, not just tech and big finance insiders. You will learn how to create streams of residual income that flow into your life twenty-four hours a day, even when you sleep, doing work that you can do part-time from your own home with little to no effort. on their own money, with few or no employees, using simple, proven systems that actually work. Now, Multiple Streams of Income paperback is the investment bible for the savvy entrepreneur. Available here.

“Misbehaving: The Making of Behavioral Economics” by Richard Thaler

Nobel laureate Richard H. Thaler has devoted his career to exploring the fact that usually the main and most important actors in economics are human beings—predictable beings. ‘Misbehaving’ is his gripping, often hilarious tale of the struggle to bring academic discipline back to earth – and change the way we think about the economy, ourselves, and our world.

The traditional economy presupposes the presence of rational actors. Early in his research, Thaler realized that these Spock-like automata were nothing like real people. Whether buying a watch radio, selling basketball tickets, or applying for a mortgage, we all succumb to biases and make decisions that deviate from the standards of rationality accepted by economists.

In other words, we misbehave. More importantly, our misbehaving has serious consequences. First dismissed as a funny sideshow by economists, now the study of human miscalculations and their impact on markets is prompting better decisions in our lives, in our businesses, and in our governments.

Combining recent discoveries in human psychology with a practical understanding of incentives and market behavior, Thaler enlightens readers on how to make smarter decisions in an increasingly mysterious world. He talks about how behavioral economics opens up new ways to look at everything from household finances to the placement of faculty in a new building, TV game shows, the NFL Draft, and companies like Uber.

Infused with ancient tales of Thaler’s bitter battles with the bastions of traditional economic thinking, ‘Misbehaving’ is a unique look at deep human weaknesses. When economics meets psychology, the implications for individuals, managers, and politicians are profound and interesting. Available here.

Pained by financial indecision? Want to invest with Adam?

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Reading list: Best financial books for all – Part 2 (July 2022) 2

Adam is an internationally recognised author on financial matters, with over 735.2 million answer views on Quora.com, a widely sold book on Amazon, and a contributor on Forbes.

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