Notes From Michael Masterson’s Blog: Porter Stansberry’s Top Investment Books
Back in 2004, we published a list of Steve Sjuggerud’s Top 10 Wealth-Building Books. Just recently, another friend whose investment acumen I admire, Porter Stansberry, published his own list of top books on investing.
Since Porter is responsible for three of the best investment advisories in the world today (Steve Sjuggerud’s True Wealth, Dan Ferris’s Extreme Value, and Porter’s own Investment Advisory), I thought you might be interested in seeing it.
Porter points out that though there are many other great books on trading, economics, the psychology of investing, the history of finance, etc., his list deals, almost exclusively, with the "how to" of successful long-term investing.
Porter says that if you read the books on his list and follow the principles they espouse ("buy value, buy safety, buy businesses with a durable competitive advantage, allow your investments to compound over many years"), you will be able to "easily earn 15%-30% per year, after tax." He says that investing shouldn’t require more than 10 hours of your time per week, and that "if you make more than two to three investments per year, you’re working way too hard."
Here, then, is his list…
1. The Intelligent Investor by Ben Graham
2. The Dhandho Investor by Mohnish Pabrai
3. Contrarian Investment Strategies by David Dreman
4. You Can Be a Stock Market Genius by Joel Greenblatt
5. Value Investing by Martin J. Whitman
6. Margin of Safety by Seth Klarman
- Michael Masterson
______________________________
Coffee and Your Health
By Jon Herring
Researchers at Harvard and UCLA recently presented the results of a review of nearly 400 studies investigating coffee consumption and cancer risk. They confirmed that drinking coffee appears to offer protection against colon and liver cancer.
The scientists also found that coffee can help prevent Type II diabetes. In one study, men who drank six cups a day reduced their risk by more than half, while women who drank the same amount reduced their risk by 30 percent.
While it is well known that coffee is a rich source of beneficial phytochemicals and antioxidants, we are not certain which components are responsible for these preventative effects.
But don’t take these results to mean that you should be drinking cup after cup of coffee. There are risks associated with drinking too much coffee, including stomach cancer and high blood pressure.
If you enjoy coffee, keep it to a few cups a day. That should give you the pick-me-up you’re looking for, and it might just improve your health. But be sure to buy an organic brand. Coffee is one of the most heavily pesticided crops. And if you take it sweet, use a natural, no-glycemic sweetener like stevia instead of sugar or artificial sweeteners.
______________________________
It’s Fun to Know: About Running a Family Business
Having a business that passes the century mark is a pretty noteworthy achievement, but how about 14 centuries?
Until its assets were acquired by a large construction company in 2006, Japanese temple-building company Kongo Gumi had been run by its founder’s descendants for 1,428 years, making it the longest-running, continuously operating family business in the world.
Prior to being taken over, Kongo Gumi had been struggling for several years. As you might imagine, the market for its temple-building services had been declining.
(Source: Business Week)
______________________________
Word to the Wise: Epicine
"Epicine" (EP-uh-seen) means weak/effeminate/unmanly. The word is derived from the Greek for "common to," and was originally a grammatical term for nouns that may denote either gender.
Example (as used by Ronald Bergan in Sergei Eisenstein: A Life in Conflict): "She smothers (almost literally at times) her weak, epicene son Vladimir, and is prepared to commit any crime to see him become Tsar, despite his reluctance."
Michael Masterson
__________________________________________________
These articles appear courtesy of Early to Rise [Issue #2042, 05-15-07], the Internet's most popular health, wealth, and success e-zine. For a complimentary subscription, visit http://www.earlytorise.com/.
Back in 2004, we published a list of Steve Sjuggerud’s Top 10 Wealth-Building Books. Just recently, another friend whose investment acumen I admire, Porter Stansberry, published his own list of top books on investing.
Since Porter is responsible for three of the best investment advisories in the world today (Steve Sjuggerud’s True Wealth, Dan Ferris’s Extreme Value, and Porter’s own Investment Advisory), I thought you might be interested in seeing it.
Porter points out that though there are many other great books on trading, economics, the psychology of investing, the history of finance, etc., his list deals, almost exclusively, with the "how to" of successful long-term investing.
Porter says that if you read the books on his list and follow the principles they espouse ("buy value, buy safety, buy businesses with a durable competitive advantage, allow your investments to compound over many years"), you will be able to "easily earn 15%-30% per year, after tax." He says that investing shouldn’t require more than 10 hours of your time per week, and that "if you make more than two to three investments per year, you’re working way too hard."
Here, then, is his list…
1. The Intelligent Investor by Ben Graham
2. The Dhandho Investor by Mohnish Pabrai
3. Contrarian Investment Strategies by David Dreman
4. You Can Be a Stock Market Genius by Joel Greenblatt
5. Value Investing by Martin J. Whitman
6. Margin of Safety by Seth Klarman
- Michael Masterson
______________________________
Coffee and Your Health
By Jon Herring
Researchers at Harvard and UCLA recently presented the results of a review of nearly 400 studies investigating coffee consumption and cancer risk. They confirmed that drinking coffee appears to offer protection against colon and liver cancer.
The scientists also found that coffee can help prevent Type II diabetes. In one study, men who drank six cups a day reduced their risk by more than half, while women who drank the same amount reduced their risk by 30 percent.
While it is well known that coffee is a rich source of beneficial phytochemicals and antioxidants, we are not certain which components are responsible for these preventative effects.
But don’t take these results to mean that you should be drinking cup after cup of coffee. There are risks associated with drinking too much coffee, including stomach cancer and high blood pressure.
If you enjoy coffee, keep it to a few cups a day. That should give you the pick-me-up you’re looking for, and it might just improve your health. But be sure to buy an organic brand. Coffee is one of the most heavily pesticided crops. And if you take it sweet, use a natural, no-glycemic sweetener like stevia instead of sugar or artificial sweeteners.
______________________________
It’s Fun to Know: About Running a Family Business
Having a business that passes the century mark is a pretty noteworthy achievement, but how about 14 centuries?
Until its assets were acquired by a large construction company in 2006, Japanese temple-building company Kongo Gumi had been run by its founder’s descendants for 1,428 years, making it the longest-running, continuously operating family business in the world.
Prior to being taken over, Kongo Gumi had been struggling for several years. As you might imagine, the market for its temple-building services had been declining.
(Source: Business Week)
______________________________
Word to the Wise: Epicine
"Epicine" (EP-uh-seen) means weak/effeminate/unmanly. The word is derived from the Greek for "common to," and was originally a grammatical term for nouns that may denote either gender.
Example (as used by Ronald Bergan in Sergei Eisenstein: A Life in Conflict): "She smothers (almost literally at times) her weak, epicene son Vladimir, and is prepared to commit any crime to see him become Tsar, despite his reluctance."
Michael Masterson
__________________________________________________
These articles appear courtesy of Early to Rise [Issue #2042, 05-15-07], the Internet's most popular health, wealth, and success e-zine. For a complimentary subscription, visit http://www.earlytorise.com/.
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