Investing Books You Must Read
The stock market has returned an average of 9% over the past 140 years.1 It's why it is important to not only have a strong investment portfolio but also to manage it well. An investment book is a great way to make the right financial decisions.
We have a list of bestsellers for you whether you are an investor looking to learn more about finance or if you are an amateur who likes to do the work yourself. These books are top-rated by industry professionals and include beginner guides.
The Best Overall: A Random Walking Down Wall Street
Burton G. Malkiel's "A Random Walk Down Wall Street" continues to be a top-rated investment book with more than 1.5 million copies. The 12th edition of this book offers a comprehensive guide to investing. This includes topics like stocks, bonds, behavioral finance, and tangible assets such as gold and coins. Malkiel, Princeton University's Chemical Bank Chairman’s Professor of Economics Emeritus, also wrote The Random Walk Guide for Investing and From Wall Street To the Great Wall.
The Financial Diet is the Best for Millennials
The Financial Diet, an Indie Personal Finance Bestseller, is a great starting point for millennials needing a crash course in managing their finances. It covers how to set and maintain a budget, how to have awkward money conversations with friends, as well as tips on what to stock your kitchen with (because eating out can be a huge budget killer). The book also covers more complex topics such as investing and caring for your house. The Financial Diet was created by Chelsea Fagan, the author.
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The Best Classic: Common Stocks & Uncommon Profits
Common Stocks and Uncommon Profits: An updated version of Philip A. Fisher's classic investment book, Common Stocks and Uncommon Profits provides a detailed look at investing philosophies that have staying power. These include the best ways to identify growth companies, and the scuttlebutt process (which is the process that gathers information from many sources) about a company before you invest. The first edition of the book was published in 1958. Warren Buffett supported it. The second edition features input from Ken Fisher (an investment professional). It is an important book for all investors as it contains many fundamental teachings such as how to avoid investing based on your emotions.
Best about the Psychology of Investing - The Psychology of Money
This collection of 19 stories is not only focused on the numbers behind investing and financial strategies, but also on how people see the money. This book is a must-read for anyone who has ever had an emotional decision to make about their investments or budget. Morgan Housel's The Psychology of Money shows how emotions, bias, and even ego can influence financial decisions. It also provides common-sense tools that will help you make these decisions. Housel, a financial journalist who has won numerous awards, is a co-founder of the Collaborative Fund and was a columnist at The Wall Street Journal as well as The Motley Fool.
Beating the Street: Best Day Traders
This book is a fundamental lesson for investors. Investing in the stock market (always) is not a game of chance. If you do your homework about the companies you invest in, you will have a greater chance of generating good returns. Peter Lynch's classic title Beating the Street explains how this theory applies to mutual funds and gives real-world advice to help readers create an investment strategy that works. It's important to note that Lynch was the manager of one of the most successful mutual funds of all time, Fidelity Magellan, which ran from 1977 until 1990.
Best on Big Tech: Bad Blood
Bad Blood, an essential read for everyone in fintech, is a real-life account of Theranos' rise and tragic fall. Theranos, headed by Elizabeth Holmes (a Stanford dropout), promised a quicker and easier way for blood tests to be performed, which would bring about major changes in the medical industry. But the technology didn't work. John Carreyrou is a Pulitzer Prize-winning reporter who also reported on the Theranos scandal in several Wall Street Journal articles. He tells the story of the billion-dollar startup and serves as a reminder for investors who have invested in startups.
Value Investing: The Little Book of Value Investing
Value investing refers to the practice of buying stocks that are low in value and keeping them for longer periods. Ideally, you will earn returns when these stocks rebound. It's not a new concept but it's a popular one for investors. Christopher Browne's The Little Book of Value Investing teaches you how to use this strategy to acquire bargain stocks and build your portfolio. The Independent (UK), Bloomberg, The Wall Street Journal, and Financial Times (UK) has given this book glowing reviews.
Best Index Funds for You: Stay the Course
Every investor is aware of the importance index funds play in passive investing. Stay the Course, written by John C. Bogle (Vanguard founder), is a fascinating insight into investment vehicles. He shares the story of how his company grew from $1.4 Billion to $5 Trillion in assets and became the largest mutual fund firm worldwide. This title is part history, part index fund primer, and well worth the effort for all investors, professionals, or amateurs.