I read a comment a while back about how blogs are better than books these days for learning about trading and finance and I had to reply because I don’t think it’s true at all. While blogs are often more up to date, they are too often lacking in great content.
I would argue that books generally provide much stronger analysis and advice than blogs. Online content is free (unless behind a paywall) which means that bloggers do not have as much incentive to write top quality content. This is why there are so many poor quality finance blogs and articles online, many of which are trying to sell another worthless product or service. As well as this, bloggers have to deal with SEO which means good articles can be hard to find.
Conversely, a good finance book is worth it’s weight in gold and can be referred to time and time again. Warren Buffett, for example, would not have got to where he is today if it wasn’t for many re-reads of Benjamin Graham’s classic investing Book:
Security Analysis: Sixth Edition, Foreword by Warren Buffett (Security Analysis Prior Editions)
Books, after all, have to go through many processes prior to printing to make sure they are up to standard and most books will never find a publisher willing to publish the material.
Granted, blogs were not around in Buffett’s day but it seems obvious to me that anything that costs money to research and produce is going to be more valuable than stuff you can get online.
The same goes for white papers and special reports. Indeed, I recently read that the value of a good 3-5 page report – the kind published by a trade journal or University is typically over $4000.
With this in mind, I believe it’s important to search out the best information and content available. I have read dozens of good finance books over the years and am always excited when a new one comes out. Blogs have there place and get better all the time, but you cant beat the value of a good book.