Ask HN: How did you learn about stocks and the market?

Howard Marks letters at Oaktree

Jeremy Granthams Letters at GMO

Seth Klarman's Margin of Safety

Investor letters of good hedge fund managers (einhorn, dalio, singer, etc)

Reminiscences of a Stock Operator by Edwin Lefèvre

Where are the Customers Yachts by Fred Schwed

Nothing has really changed psychologically since those books. The same people are doing the same things for the same reasons, just with different numbers and tools. This will provide some background in those areas. Very much like music or sex (edited to add, or programming), young people like to think their generation invented the topic, but not as much has changed as you'd think.

Note that just because its hilarious reading what Livermore did a long time ago, doesn't mean you won't get thrown in jail if you tried it today. So these are like anthropological case studies, not preachy instruction manuals. Make sure you get that.

Aside from that I'd propose the usual critical thinking skills. Whenever you hear or read something: Follow the money. From his perspective, why is he telling me this? Where is this on the lifecycle of ideas from new (perhaps only to you) to conventional wisdom (may already be obsolete) to obsolete, and is this a linear time or circular time situation?

Finally bad people or bad motivations don't necessarily torpedo an idea. Take for example haircuts. Ask your barber how often you should get a haircut, that will be every paycheck please, because he's paid transactionally. Likewise, you ask your financial advisor or broker how often you should dollar cost average, because he's paid transactionally guess what his advice will be. However, corrupt as that may appear on the surface, it might none the less be correct advice, for reasons having nothing to do with your broker's revenue stream!

This book is too advanced for beginner level. As a beginner, you most probably will not like this book and reading it might turn you off investing and stock market (too complex).

The type of books you want are the ones that cover basics and are easy to read. Instead of considering books recommended by others, I will suggest going to a physical book store (library is another option), pick up any investing book on the shelf, read for 15-20 minutes. If you like what you are reading or book fascinates you and you want to continue reading the book, buy (check out) the book and take it home.

If you are a visual learner, I heard Khan Academy videos are good. Also, consider reading biographies of famous investors and financiers and other story-telling type of investing related books. As I am not visual learner, I can't make any specific recommendations.

If you prefer numbers, I will suggest reading "Millionaire Next Door", "A Random Walk Down Wall Street", and "What Works on Wall Street". The first one is not per se investing book but more of an "encouragement" book that will help you continue learning about saving and investing.

> What's your story?

I learnt stock market as "substitute" for gambling. When I first started out working professionally, some newbies (like me) at work will go out to casinos or have booze and gambling Thursday nights (alternate Friday off from work). A few of these people were hardcore gamblers: studying and learning tips and tricks of blackjack, poker etc. Monday lunch at work cafeteria used to be "whining" session, how we lost so much money and odds are against us, etc.

During one such whining session, an older member at work mentioned that on his Friday off, he goes to library to read Wall Street Journal, Value Line to research stocks and check value of his stocks like checking lottery numbers in newspaper (pre-Internet days). He got his "gambling" adrenaline through stock market and how odds of winning are much better than going to casino. This was the start of my interest in stock market and learning more about trading and investing and saving. I went to library on my Friday off to read and check out any investing and trading book on the shelf. I most probably read 30+ different books in a few months period at the start. Investing and trading is the only hobby that has kept me interested over the years.