I know NOTHING about investment (especially gold/silver)...what BOOKS are the best?

[DeadheadForPaul]

There are a lot of investment books floating around. I'm not someone who believes gold/silver are the only sound investments as they rise and fall just like anything else. Obviously they're a great hedge against collapse, but I'd probably put no more than 10-20% in them

But I really don't know where else to put my money and don't even really understand precious metal investments (spot price, where to buy, etc.)

I'm about to wrap up my doctorate in a bit and will be bringing in money. Obviously I don't want it all sitting in dollars in the bank, but all the adults around me pretty much solely invest in the stock market

Help?

Looking for 3-5 books with different perspectives.

Thanks guys

 

[pmbug]

... don't even really understand precious metal investments (spot price, where to buy, etc.)
...

There is nothing mystical about precious metals. You can buy bullion (US Mint coins, Private mint rounds and ingots/bars) from coin dealers, pawn shops, amazon and ebay.

I don't have a specific book recommendation, but this web page offers a lot of good info to consider:

http://the-moneychanger.com/commandments.phtml

 

[Len Larson]

I like Harry Browne's permanent portfolio concept.

Peter Schiff has some good books. Schiff turned me on to goldmoney.com, probably the best way to buy gold.

Lately, I've been reading about Pamela Yellen's BankonYourself.com strategy of using dividend paying whole life insurance.
I'm not quite sold on the concept yet, since it is so different, but it sure is interesting.

And of course I buy bricks of nickels at the bank. There is literally no downside to nickels.

 

[RDM]

Read as much information from Jim Rogers either online or offline in books. This guy is a pure investment genius.

 

[emazur]

I like Harry Browne's permanent portfolio concept.

That sounds good to me as well - very safe but also consistently profitable. You can check out the MP3 archives of Harry Browne's 'The Money Show" here:
http://crawlingroad.com/blog/harry-browne-permanent-portfolio-archives/

 

[Imaginos]

Any book from Peter Schiff and Jim Rogers will be a good starting point.
Crash Proof 2.0 and Hot Commodities are not difficult to read yet offer solid foundations on investing.

 

[Chartographer]

Ditto on Jim Rodgers. If you want to be an active investor, I highly recommend reading any book by Alexander Elder that you can. He gives common sense advice that works and is easy to digest for beginners.

 

[realtonygoodwin]

Ditto on Harry Brown and the Permanent Portfolio. Read Fail-Safe Investing.

 

[wgadget]

Have you joined the www.kitco.com forums yet?

TONS of information on that website, and you can ask the experts anything you want.

Sorry, it's not a book, but imo, it's better.

 

[matt0611]

If you're just buying precious metals to preserve your wealth, I don't really think there's much to know.

You go to a coin shop or go to an online store and buy some with your dollars.
You can either get bullion or coins. I like both.

 

[brandon]

The internet is really the best place to start imo. Forget books. Read all the beginner guides at fool.com, then when you understand the basics never go to that site again (they suck, but have good tutorials).

 

[heavenlyboy34]

If you're just buying precious metals to preserve your wealth, I don't really think there's much to know.

You go to a coin shop or go to an online store and buy some with your dollars.
You can either get bullion or coins. I like both.

I agree with this. The only caveat I would add is to do research on prices so you don't overpay. I'm a junk silver fanboy nowadays, but will branch out eventually.

 

[DeadheadForPaul]

Thanks guys! Got a solid list going into Christmas, now

 

[realtonygoodwin]

Check out crawlingroad.com and gyroscopicinvesting.com.