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No. of Recommendations: 4
Thanks for the compliment.

Having read Judith's, Barcoo and Jono's reply I would recommend all the books they have suggested.

Richest man in Babylon, Richest Barber to get an idea on financial strategies and how to set your financial goals.

Move on to the financial books and start reading BRW, Fortune and Forbes (I access Fortune & Forbes via the internet) to get a feel for current business strategies but don't invest in companies just because they get a mention.

I would also recommend just about all the books written by Trevor Sykes, aka Pierpont and a presenter on the SBS business show at 6pm Sunday nights (hasn't started again this year yet). There are 200 Years of Panic, The Bold Riders and if you can find it "The Money Miners". These books will give you a good history of the Australian business environment and more importantly what can go wrong and how horribly and quickly it can go wrong. Learning from other people's mistakes is equally important as reading about other people's success. Would also recommend Barry's book about Bond in this light as well.

You should read some biography and in this I would recommend Frank Lowy's biography and John Saunders biography - the 2 guys that built Westfield. The biography of Ron Brierley written in the late 80's is very good as well. The biography of Jesse Livermore published last year is also worth reading as well as the other pseudo biography written by Edwin Le Fevre and as I sit here I can't think of the name but it is still in most bookshops.

On a more complicated theme you could move onto The Power of the Gods by Bernstein which is heavy going but gives you an appreciation of risk and financial markets. And with this read about Long Term Capital Management and it's fall. Read about the 1929 crash.

My favourite company reports are the Berkshire Hathaway Annual Reports which are available on the berkshire web site. You could also visit the Toronto Investment club web site which is very helpful and has plenmty of links to other sites @ www.tic.com (I think). From an Australian perspective I would read every report that Peter Hall from Hunter Hall (www.hunterhall.com.au) and Kerr Nielsen at Platinum Capital have written recently.

Reading a few books will not make you a great investor but it is a start in the right direction. You can read all about riding a bike but until you actually hop on one all the reading in the world won't make you a bike rider.

I have been investing for 20 years and for the first 10 years I made all the mistakes under the sun. I bought and sold shares on tips, bought and sold options, even had a dabble in futures all with little success. The next 5 years I started making money at it and for the last 5 I am actually starting to think I have a bit of a handle on it.

So start small and expect to make mistakes, but most importantly try and understand from them. As time goes by you will get a feel for a strategy that you are comfortable with and companies you are comfortable with. There are 1400 companies on the ASX and if you get to understand 10% of them you will be doing well and it will provide you with plenty of opportunities.

If you print out all these replies to your post out and start reading, surf the web sites, and perhaps join an investment club if you can, and then start investing an a small basis you will be heading in the right direction. In 10 years time when your income starts to really take off as a result of your Uni studies then you will have the knowledge and skills to put the money to good use.

It's not as hard as it looks but it is not as easy as some people will tell you either and you will be amazed what small amounts can compound into over a lifetime of investing.

Regards
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