Patrick’s Pick
Stan Weinstein : Secrets for Profiting in Bull and Bear Markets

Fully’s Pick
Edwards and Magee “Technical Analysis Bible” Originally published in the 50s now 9th Edition

Plunger’s Picks :

Keep in mind TA isn’t everything… broaden your horizons. Here are some of my all time favorite books in the financial space:

One of the original TA books. It is hard to find- Technical Analysis and Stock Market Profits.. Richard Schabacker

Candlesticks- Steve Nison

Non-TA books:

Probably the greatest book in investing of course is Reminiscences of a Stock Market oOerator- The classic Autobiography of Jesse Livermore. I re-read it every few years. It never gets old.

Market Wizard series by Schwager

Devil take the Hindmost- Chancellor

The Big Score- Mcnish- about Robert Freidland’s awesome discovery of the Voiseys bay Nickel discovery. No one has ever read this book and not said it was absolutely fantastic. It is a must read actually . and it’s a Canadian author.

The Big Rich- Burrough. Highly entertaining book on the history of Texas’ big 4 wealthy oil families. So deep. It will enlighten you of where all the prominent names came from in Texas that you have heard before. Teaches so much about human hubris and its eventual destruction of everything. I lived in Dallas for 20 years and I wish this guy had written this book before I left. Once I read it everything fell into place. The story of the big oil bust of the 1980’s will teach you things you need to know as an investor. Just a great book.

The Prize- Yergin. You may have heard of this book. They made a PBS documentary on it. It’s the history of oil… kind of a must read.

Family Fortunes- Bill Bonner. Of course I am a Bill Bonner fanatic. I read everything he writes. But this book is a very serious book. It is the product of a lifetime of thinking of how one should manage money within a family. He has really thought it through. You owe it to your family to read it.

If you haven’t read the works of Dan Oliver and you suspect you may have gold bug tendencies, I recommend you swing over to his website and start reading his works. This guy understands gold better than anyone else I have been exposed to. Myrmikan Research

That ought to get you started. When you are done with all of these and have them highlighted then give me a ring ?

Regarding the Big Rich, The story of Clint Murchison Jr is simply so instructive in life in general. This book relates the feeling of just how rich these people were on a relative basis. Think of it this way; in today’s world we have slews of billionaires. A dime a dozen. But back in the 1950’s and 60’s there really were not that many super rich people.The power and influence of these people was simply unreal in their backwater state. Of course this kind of power ultimately destroyed Murchison by way of hubris. This guy who owned the Dallas Cowboys used to show up at each Braniff Airlines flight attendant graduating class and cherry pick the prettiest stews to staff his private flight department. When they got recruited It was understood that all “services” would also be rendered to him.

The story of his unseemly end is simply excruciating. By the late 1970’s oil was everything. The money factory was to go on forever, a downturn in oil could not have even been conceived of. I remember this well as I lived in Oklahoma at the time and dated a few girls whose fathers were oil men and bankers. They were on top of the mountain and ultimately lost everything in the 1980’s. The book describes the final meeting when the lawyers all assembled at his house for the final bankruptcy in north Dallas. His estate was a huge land mass smack in North Dallas adjacent to highland park. This is prime real estate and he owned it all. Today this land has all been developed into smaller plots each having a mansion on it. After reading the book I drove around it one day getting a feel for what he once owned. To think he lost it all and in such ugly fashion was really humbling.

It taught me that it matters not how big and powerful you are you can lose it all. Its a great book

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