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10/6/15
Investing Books are Not For the Birds
People who enjoy making their money grow, and are successful at investing, should be avid readers of not only politics, business, and personal finance matters they find online, but also actual books. You know, paper? That outdated, antiquated stuff that comes from trees?
The great businessmen of this last century, responsible for creating some of the world’s best products, businesses, systems, and piles of wealth, have imparted their wisdom through a variety of sources. What I’ve put together below is what I consider to be a good collection of “starter” reading material from these sources for those who want to become serious, disciplined, principled investors. There are hundreds of books out there, but I believe these are the best.
If you choose to proceed, and devour this gigantic pile of wisdom, you’ll come out a much more intelligent, informed money manager than 99% of the gamblers out there who dubiously call themselves “investors.”
You’ll come away with a better understanding of general economics, investor psychology, business mindset, history of finance, macroeconomic theory (much more interesting than it sounds), value investing, trading, and speculation…. And luckily, since some of the authors are incredible writers and comedians, you’ll be thoroughly entertained, also.
I update this list periodically as I find new, useful, interesting things to read.
The Little Book that Beats the Market – Joel Greenblatt
Fantastic gem on how to buy shares of great companies at reasonable prices. Focuses on value investing, and long-term wealth creation.
One Up on Wall Street – Peter Lynch
This is a general book about the stock market, written a couple decades ago, but contains timeless wisdom which helps investors learn the need to understand fully what they are investing in.
Eat the Rich – PJ O’Rourke
This comedian author strives to help us understand the world of economics and wealth through his hysterical world travels.
Fascinating book about the unfolding of the 2008 financial crisis, focusing on several key players in the industry who saw it all coming, and made fortunes off of it.
Winning on Wall Street – Marty Zweig
Zweig is a legendary stock market analyst, who made a fortune trading stocks. The focus of the book is more focused on understanding the “technical” aspects of investing (using charts and such) than value investing, which focuses on the financial and business fundamentals of investing.
Economics in One Lesson – Henry Hazlitt
Hazlitt was a libertarian thinker of economics and free markets. Learn from this 70-year-old book about the truths behind common economic fallacies and perils our modern world, such as government intervention and central planning.
Beating the Street – Peter Lynch
The author delves into the details around investing in specific industries, and offers his 25 Golden Rules of Investing
The Richest Man in Babylon – George Clayson
A classic, quick read which provides insight into wealth-building and success in handling money.
Crisis Investing for the Rest of the 90’s – Doug Casey
Doug Casey is a wizard at wealth creation, having founded several firms focused on providing investment research and wealth advice to millions of readers around the world. This book teaches sound underlying principles of investing, although the information is somewhat dated, and many of the author’s predictions about the financial markets of the 90’s didn’t come true.
Rich Dad, Poor Dad – Robert Kiyosaki
A great book from the 90’s which tries to teach its readers practical ways on how to think about money, and understand the relationship between personal assets, liabilities , debt, cash flow, taxes, personal income, and wealth generation. Purely a motivational book, not a technical one about investing. This was the first book I ever read about money nearly ten years ago, which got me interested in finance.
F Wall Street – Joe Ponzio
How to avoid the pitfalls most investors face, and succeed at value investing in great businesses.
Market Wizards – Jack Schwager
The author interviewed some of the most world-renowned traders and investors in the word, and gleaned many insights for us about investor mentality and behavior.
The New Market Wizards – Jack Schwager
Another book, newer than the one above, which contains interviews and insights from expert investors about the financial markets.
Have you read any great books you'd recommend? Hit me up at thevillageidvestor@gmail.com
Live long and invest,
Jeremiah
Have you read any great books you'd recommend? Hit me up at thevillageidvestor@gmail.com
Live long and invest,
Jeremiah
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