Learning accounting, personal finance & investing for noobs

[Anonymous No.58447995]

How do I go about it without any kind of education in business, finance or accounting? How much should I know? Spammers and shit posters stay the fuck out. It would be great to have generals in this board that actually focus on rigorous finance, business management, accounting and the stuff you find in colleges.

[Anonymous No.58448026]

>>58447995
dont read that book, dont read anything about Buffet. I did, and chose to put 20k in some value stock in 2016 which lost me 10k instead of NVDA.

[Anonymous No.58448111]

>>58448026
>dont read that book, dont read anything about Buffet
isn't it a safe way of investing?

[Anonymous No.58448205]

>>58447995
start with some youtube channels for noobs
https://www.youtube.com/watch?v=YnKRpjqbmkM

[Anonymous No.58448308]

I have a degree in finance and I've read a lot of finance books but all you truly need are two books;
>the richest man in Babylon
Covers the mindset required for wealth
>A random walk down wallstreet
Explain and lays out the path to wealth

There's no point in learning about finance and investing because the more you learn, the less you know. Instead focus on doing whatever field you're good at and increase your income. Accounting is just for losers.

>TLDR; Increasing your Spending Power. Save more than you spend and have your savings compound, preferably with a low cost, well diversified index fund such as Vanguard All-World fund, ticker VWCE

[OCPD !tjYCsxEpm2 No.58448316]

>>58447995
>needs le EDUCATION to balance the equation income = expenses + savings

[Anonymous No.58449088]

bump

[Anonymous No.58450760]

If you want to learn accounting/financials from the perspective of applying it to investing, check out this guy on youtube

https://www.youtube.com/@CstewartCFA

His style is to focus more on cashflow and a bit of balance sheet to calculate company valuations. I found it very useful to learn from.

[Anonymous No.58451189]

>>58447995
I read that shit and ended up buying MUMU
don't trust anything /biz/ teaches you

[Anonymous No.58451993]

Here’s the TLDR
4 management rules:

-Focus on the balance sheet, not the income statement.
Many people buy a stock and sell it as soon as it has risen by more than 20%.
On the other hand, if the stock falls, they carefully hold on to it.
In reality, you have to do exactly the opposite.
If a stock falls from its high by 10% or 15%, or from the price at which you bought it, you have to sell it at once. If you follow this rule systematically, after a few years you'll find yourself with a portfolio containing all your good choices, since the market will have eliminated all the bad ones, and your balance sheet will rise year after year, even though you'll be making losses most of the time.

[Anonymous No.58452016]

Rule number 2
The purchase price is of no interest, except for tax purposes. The value of the stock is equal to today's market price, period.
This means that averaging down is the surest way to go broke, since not only have you not sold the crap, you've just added to it...
Rule number 3
The cockroach in the kitchen.
Readers will have noticed that there is never just one cockroach, but that the appearance of just one of these charming insects heralds many more. The same is true of bad news, whether about a stock, a sector or an economy.
Anons may recall...
In July 2008, BNP announced that it could not calculate the value of shares in some of its money-market funds due to the uncertainty of putting a price on certain subprime-related assets. It was the first cockroach in a long, long series.
We had to sell then and there, at the very least, all the financials without paying any attention to all the reassuring comments.
Rule number 4
This last one is more psychological: the stock you own doesn't know that you love it. Falling in love with a stock because the story is beautiful means substituting your own judgment for that of the market as a whole. It rarely works...
In my experience, these are the four simple rules to follow, which are easy to understand and only require a great deal of discipline. Almost all the great and mythical managers I've known followed them without problems, and I follow them. There's no reason why readers shouldn't follow them too, if they so wish.

[Anonymous No.58452956]

>>58447995
why whoudl I waste my time learning all that shit when I can make money playinh games on superverse? GAMES dude, not wagie slavery.
The DREAM

[Anonymous No.58452972]

>>58452956
well its true that you dont need a degree to make it in life, but that life wont be easy

[Anonymous No.58452974]

>>58452972
>>58452956

It's not easy either way, some people are born with cheat codes.

[Anonymous No.58452979]

>>58452016
>The purchase price is of no interest, except for tax purposes. The value of the stock is equal to today's market price, period.
THIS, THIIIIIS! And they dared to protest my store when alcohol was in shortage during the pandemic.

[Anonymous No.58452981]

>>58447995

[Anonymous No.58452982]

>>58452979
did you raise the price faggot? no wonder they went after you, you are lucky it didn't catch fire or worse!