If I Had A Million Dollars . . . I'd Probably Lose It in the Market

Though it's no literary masterpiece, I highly recommend What I Learned Losing a Million Dollars; Jim Paul and Brendan Moynihan give a candid account of Paul's meteoric rise and fall in the futures industry, and along the way, you learn the difference between a gambler, a trader, a speculator, and an investor . . . and why speculators suddenly decide they are actually investors (just after the stocks they own take a nosedive) ; this is a book about human psychology and how it needs to be subverted in order to be successful in the market; the secret is to be like Ayn Rand -- when she was asked if gun control laws violated the Second Amendment, she said: "I don't know, I haven't thought about it" . . . but it's really hard to take that sort of objective and rational approach when you're dealing with your money.