Hi Do any of you gentleman, professionals in the field and/or knowledgeable amateurs alike, have any particular economy books recommendations for an amateur investor trying to get a better understanding of how macro-economic factors influence the stock market(s)? The purpose of getting this knowledge, besides the intellectual satisfaction, would be to avoid doing stupid things in times of relative economic uncertainty or policy shifts. This isn't my area of expertise and there's a lot of offers everywhere, but neither enough lifetimes to read all the offers, neither enough budget for all the books. Thanks in advance for your time. Regards
The Intelligent Investor - Benjamin Graham The Dark Side of Valuation - Aswath Damodaran Mastering the Market Cycle - Howard Marks One up on Wall Street - Peter Lynch Beating the street - Peter Lynch Learn to Earn - Peter Lynch
Thank you all for the feedback. "The Intelligent Investor" and "The Dark Side of Valuation" are on their way already. Much appreciated for your prompt feedback gentlemen. All the best.
Which work would you recommend in particular? "Ultimate Foundation Of Economic Science", "Economic Policy: Thoughts for Today and Tomorrow", "Money, Method and the Market Process" ?
I recommend picking up an old textbook by Greg Mankiw, The principles of macro/micro, and then just read the chapter summaries. He teaches economics at Harvard and his textbook is considered the standard for entry level economics. I wouldn’t read Von Mises until after you have a better grasp of the fundamentals. Economics can be descriptive (how the world works) or prescriptive (how the world should work), and Von Mises is much more prescriptive. Some good academic economists to read/follow: - Dambisa Moyo - Paul Krugman - Olivier Blanchard - Lawrence Summers - Paul Romer - Ken Rogoff - Robert Shiller - Richard Thaler
You’re aging yourself haha. Mankiw does a great job of synthesizing much of economic thought. However, all entry level textbooks are going to be limited in that the book is written for people who have not taken stats or calculus.