I am a young scientist who is very concerned about his future. In the present I am trying to learn as much as possible from all kinds of things to possible invest in. They range from biotechnology (my field) to bandwidth to natural gas. I am trying to think ahead and attempt to determine what will be a necessity to the world and how I can be part of whatever that necessity is. How successful have you been being a scientist and an investor? What kind of advice would you be willing to share?
When it comes to stock investing, I believe in being a generalist and learning the fundamentals first. Ability to read and understand basic accounting entities is a must. “Why Stocks Go Up (And Down)” by William Pike is an excellent accounting primer, and will give you most of the accounting that you need to know. After accounting knowledge, understanding the common business models is another excellent investment of your time. The same business models pop up repeatedly in different industries. Industry-specific knowledge should only come after accounting and business knowledge. As a scientist, you should have considerable control over how you use your time, so use the time to read accounting and business books, and you should be well positioned to recognized and take advantage of stocks which are mispriced.
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Hello
I am a young scientist who is very concerned about his future. In the present I am trying to learn as much as possible from all kinds of things to possible invest in. They range from biotechnology (my field) to bandwidth to natural gas. I am trying to think ahead and attempt to determine what will be a necessity to the world and how I can be part of whatever that necessity is. How successful have you been being a scientist and an investor? What kind of advice would you be willing to share?
Thanks! Great blog by the way
Hi Will,
When it comes to stock investing, I believe in being a generalist and learning the fundamentals first. Ability to read and understand basic accounting entities is a must. “Why Stocks Go Up (And Down)” by William Pike is an excellent accounting primer, and will give you most of the accounting that you need to know. After accounting knowledge, understanding the common business models is another excellent investment of your time. The same business models pop up repeatedly in different industries. Industry-specific knowledge should only come after accounting and business knowledge. As a scientist, you should have considerable control over how you use your time, so use the time to read accounting and business books, and you should be well positioned to recognized and take advantage of stocks which are mispriced.