Tim Hale - Smarter Investing

learning_every_day

Over the past year or so I have been trying to educate myself. I am excited by the prospect of investing.

I have read rich dad poor dad, the naked trader, free capital, and get a financial grip as well as regularly reading forums and popular websites.

Most advise not to waste time and get started, but I can't help feeling the need to know more before I part with any of my hard earned (after making a big loss on the only share I've ever bought).

Would Tim Hale's Smarter Investing offer me much more than the above or should I get going (researching and paper trading potential investments) and not worry about reading Smarter Investing just yet?

Lokolo

Theory only goes so far. The practical element is far more fun and rewarding imo.

Why don't you plan our your portfolio with the funds you are thinking of investing in?

learning_every_day

Lokolo wrote: »

Theory only goes so far.

This is what I'm thinking. Although I'm still not sure how to structure my portfolio really.

redbuzzard

Read it. Please. You can read the summaries in an hour or two if you like.

I'd be surprised if you don't think it makes your investing decisions easier.

You can't learn investing by doing it, it takes too long and costs too much. Trading you can learn quite quickly, after which the sensible ones give up.

Of course if what you want to do is trade rather than invest, just get on with it. The sooner you lose your money, the sooner you'll be able to get on with your life

Blackdog

I also recommend you read Smarter Investing before you make any investment decisions, it is a real eye opener about charges.

grizzly1911

It is useful read but IMO it drags on for too long.

Could have communicated the messages much more succinctly.

ChopperST

grizzly1911 wrote: »

It is useful read but IMO it drags on for too long.

Could have communicated the messages much more succinctly.

Agreed, I found it very helpful but quite a few points (such as bond / equity split) are over emphasized and repeated.

I read through the book and made my own notes as I went through which forms my basis for investing.

I did find the book quite readable and got through it in a few nights.

donniej

One thing you could do if you want to gain experience without losing money is setting up a virtual portfolio. There are quite a few providers offering this - in fact I think even Google Finance and Yahoo Finance let you do this (their interfaces are not that good though.)

That'll let you test your ideas out for a bit and gain experience without having to back them up with cash.

grizzly1911

donniej wrote: »

One thing you could do if you want to gain experience without losing money is setting up a virtual portfolio. There are quite a few providers offering this - in fact I think even Google Finance and Yahoo Finance let you do this (their interfaces are not that good though.)

That'll let you test your ideas out for a bit and gain experience without having to back them up with cash.

Trustnet is quite good too.

redbuzzard

Perhaps the pith of Smarter Investing could have been dealt with in a slim volume. I wouldn't say the rest is repetition though. The arguments and sources are all there, and some more detail on the theory which I thinks he says is optional.

One book that could be condensed to a page or two is 'Rich Dad, Poor Dad'. The message is spot on, but I wouldn't have said it was a book on investing - more a reminder that what most people consider improving themselves is just making themselves poorer by wasting money on consumer goods before they have laid the foundations of financial security. Bang on, but won't really help you allocate your investing and choose funds.

Running a pretend portfolio is no good. Investing is for a period of years. By the time you have seen any results, the ship will have sailed.

Start putting money into your chosen wrapper if that's pension or ISA, to use the allocations and/or tax relief, and refine your choices as you learn - but you haven't time to learn from results.

BLB53

Tim Hales book is good (if a little expensive) another (at half the price) would be 'the long and the short of it' by John Kay.

A few (free) websites - https://www.Monevator.com, RIT http://www.retirementinvestingtoday.com/ and also DIY Investor http://www.diyinvestoruk.blogspot.co.uk/

I really would not waste your time with a 'dummy' portfolio as you will not make the same decisions with real money imo - make a start and learn as you go.