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I finished Buffettology a couple of weeks back. Great book - really informative and gives a useful model for thinking about things.

Here are some other things I have read and enjoyed:

• Intelligent Investor. Obviously a widely recommended book. I found Jason Zweig's edition with commentary quite useful - though his comments sometimes contradict the original text and are anyway pretty obsessed with the fallout of the dotcom boom. That said his additions are journalistic and so easier and easier to read that Graham's original prose.
  
• Why Stocks Go Up and Down. I know a bit about accounting and finance but this book really explains the effect on equities (and also explains bonds). I need to review some of the later chapters
  
  I'm currently reading Value Investing Made Easy. /u/moumouren also recommended me The Warren Buffett Way which is sitting on my desk now.
  
  I'm not an expert though - like you I am just starting - so take all this with a grain of salt. Just some ideas.

Surely this is a bonds question, and you should refer to the appropriate chapter of Ilmanen? The free version covers stocks and bonds.

The UK government recently redeemed some gilts (government bonds) that were 300 years old.

However I think your question is an interesting special case because your returns are interest free.

If you're looking for a practitioner's perspective from a book which doesn't look like a tome (e.g. Security Analysis), Best Practices for Equity Research Analysts by James Valentine is an excellent read. It gets to the heart of the detail and straddles a very delicate balance between investing principles and methods. Highly recommended for intermediate reading.

Buffet owns and manages businesses, not just investing in stocks. You become a business owner by either buying or starting your own business - think about that.

You will gain experience if you work in a large company, but for that you need qualifications. Maybe a business degree, accounting qualifications, MBA, or similar.

Try reading "The Millionaire Next Door". You can learn how to become a millionaire but becoming a billionaire is another proposition.


The internet can not tell you what to do. You need to make your own decisions.

eg for me