Thursday, June 08, 2006

Quality of Information

One of the things which I have found challenging is sorting through the abundance of information and misinformation that is available.

Let me state from the outset -- I do not subscribe to any form of supernatural intervention in investing. As far as I am concerned, it is a strictly human affair.

That cuts out a frightening amount of the available literature at the get-go. What remains breaks up into "Stuff Based on 1950s Research", "Fluffy Contentless Books for Beginners", "Ludicrously Complex Books", "Sensible Tips" and "Miscellaneous".

What's surprising to me is the lack of anything to bridge the gap between sensible tips and a useable guide to investing.

I think I have identified the reason -- investors are not hackers. If investors were hackers, every Joe Soap would have published information on the web for criticism and shared knowledge. There would be a lot of crap, but there would at least exist *some* more complete documents describing how to do that trading thing.

This is corroborated by the lack of open-source software for trading -- or software which even *runs* on linux. Trading has not yet been hacked.

Partly, this must be because hackers don't find trading interesting. However, I'm surprised, because at some level the information is readily available if you can put the time in to look for it, and because it involves improving a system.

Anyway, this blog started being about quality of information. I really, really recommend spending a lot of *effort* and not a lot of *money* on learning about shares. Very few books will directly or completely address your needs.

Over the coming posts, I will attempt to describe some of the better sources of information which I find. Book reviews are one way in which this will happen, but I will also attempt to review ideas, websites and organisations along the way. This lends itself to wikification, but I don't have the time right now.

In the meantime, I'm starting with baby steps. I'm risking amounts of money that I can afford to lose, and spending a lot of time at the research level.

(This is not investment advice. I'm just this guy, you know?)

Cheers,
-MP

1 Comments:

Anonymous Wilson said...

Tennessee, have you seen/read the "Motley Fool" books?

6/08/2006 03:26:00 PM  

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