Cheap Is Good
Now, if there's one think I love, it's a bargain. And I've found an interesting source of them lately.
There are a number of thrift shops/Goodwill/Salvation Army stores in the area. And I've noticed that it is worth browsing the books area for financial books. Usually five minutes spent looking at the hard covers will find something good, and at a dollar or two a book, it's pretty hard to go wrong.
In the last few months I've found a David Dreman book, two Porter (the corporate strategy guy) books, The Millionaire Mind, a good FT text on options trading and some biographies of interesting business people. I'm out a total of $8 something for this. Either of the Porter books is about three times that.
I think the deal is that the people that shelve the books can tell the difference between hard cover and paperback and fiction and non-fiction, but that's about it. So you have serious financial text books next to books on colon cleansing and why vaccinations cause earthquakes.
So give the next thrift shop you see a look. Every investor should have a good library of books on business and finance and if you can pick up some good ones on the cheap, so much the better.
Which brings us back to the market. I don't think it is cheap yet, But it might be getting there. So pick your targets and get ready to buy when terror stalks the The Street and people are panic selling.