Welcome to the Docs
An entry point for learning investing from the order in which to think, rather than from product names
Setting out to invest, it is tempting to start from product names and surface conditions — what should I buy in a tax-advantaged account, S&P 500 or a global equity fund, is a fund that pays distributions more reassuring. But what you want to build first is the order in which to think: what is this money for, over what horizon, and taking what risk?
In these docs, Chapter 1 builds the foundation of investing, Chapter 2 covers equities, and Chapter 3 covers mutual funds. On that basis, Chapter 4 works through how to combine several products. Points where judgement gets difficult are covered in the columns, and when a term or formula stops you, the reference is where you return.
- Before choosing products, sort out what you want from investing and over what period.
- Look at risk including the chance of a large fall, not just the return.
- For equities, work through owning part of a company, why prices move, and how to read dividends, in order.
- For funds, keep contents, management approach, distributions, reinvestment, and the order of checks distinct.
- Finally, think about what to hold and how much across the whole, not product by product.
The learning path
| Chapter | The question it answers | What you can do after reading |
|---|---|---|
| Chapter 1 — Build the Foundation | What does investing actually involve | Sort out purpose, horizon, risk and return, and how the main products differ |
| Chapter 2 — Understand Equities | What is a share, and why do prices move | Explain a share's contents, its price, and how to read dividends, in order |
| Chapter 3 — Understand Mutual Funds | How do I read a mutual fund | Sort out a fund's contents, index versus active, distributions, reinvestment, and the order of checks |
| Chapter 4 — Build a Portfolio | How do I decide what to hold and how much | Think about combining and reviewing the whole, rather than single products |
Where to start when unsure
- Completely new: start from 1-1 What does investing actually involve?
- Want the relationship between return and risk first: read 1-2 Risk and return
- Want the basics of equities and dividends: start from 2-1 What is a share?
- Considering funds through a tax-advantaged account or regular contributions: start from 3-1 What is a mutual fund?
- Concerned about distributions or monthly-distributing funds: read 3-3 What is a distribution? and Why do monthly-distributing funds need care?
- Want to work out what to hold and how much: go to 4-1 What is a portfolio?