10 books every investor should read
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3/28/2015 10BooksEveryInvestorShouldRead
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10BooksEveryInvestorShould10BooksEveryInvestorShouldReadRead
Whenitcomestolearningaboutinvestment,theinternetisoneWhenitcomestolearningaboutinvestment,theinternetisoneofthefastest,mostuptodatewaystomakeyourwaythroughofthefastest,mostuptodatewaystomakeyourwaythroughthejungleofinformationoutthere.Butifyou'relookingforathejungleofinformationoutthere.Butifyou'relookingforahistoricalperspectiveoninvestingoramoredetailedanalysisofhistoricalperspectiveoninvestingoramoredetailedanalysisofacertaintopic,thereareseveralclassicbooksoninvestingthatacertaintopic,thereareseveralclassicbooksoninvestingthatmakeforgreatreading.Herewegiveyouabriefoverviewofourmakeforgreatreading.Herewegiveyouabriefoverviewofourfavoriteinvestingbooksofalltimeandsetyouonthepathtofavoriteinvestingbooksofalltimeandsetyouonthepathtoinvestingenlightenment.(Tofindmorerecommendedbooks,investingenlightenment.(Tofindmorerecommendedbooks,seeseeInvestingBooksItPaysToReadInvestingBooksItPaysToRead.).)
""TheIntelligentInvestor"(1949)byBenjaminGrahamTheIntelligentInvestor"(1949)byBenjaminGrahamBenjaminGrahamisundisputedlythefatherofBenjaminGrahamisundisputedlythefatherofvalueinvestingvalueinvesting..HisideasaboutsecurityanalysislaidthefoundationforaHisideasaboutsecurityanalysislaidthefoundationforagenerationofinvestors,includinghismostfamousgenerationofinvestors,includinghismostfamousstudent,student,WarrenBuffettWarrenBuffett.Publishedin1949,"TheIntelligent.Publishedin1949,"TheIntelligentInvestor"ismuchmorereadablethanGraham's1934workInvestor"ismuchmorereadablethanGraham's1934workentitled"SecurityAnalysis",whichisprobablythemostquoted,entitled"SecurityAnalysis",whichisprobablythemostquoted,butleastread,investingbook."TheIntelligentInvestor"won'ttellbutleastread,investingbook."TheIntelligentInvestor"won'ttellyouhowtopickstocks,butitdoesteachsound,timetestedyouhowtopickstocks,butitdoesteachsound,timetestedprinciplesthateveryinvestorcanuse.Plus,it'sworthareadprinciplesthateveryinvestorcanuse.Plus,it'sworthareadbasedsolelyonWarrenBuffett'stestimonial:"ByfarthebestbasedsolelyonWarrenBuffett'stestimonial:"Byfarthebestbookoninvestingeverwritten."bookoninvestingeverwritten."
"CommonStocksAndUncommonProfits"(1958)byPhilip"CommonStocksAndUncommonProfits"(1958)byPhilipFisherFisherAnotherpioneerintheworldoffinancialanalysis,PhilipFisherAnotherpioneerintheworldoffinancialanalysis,PhilipFisherhashadamajorinfluenceonmoderninvestmenttheory.Thehashadamajorinfluenceonmoderninvestmenttheory.ThebasicideaofanalyzingastockbasedongrowthpotentialisbasicideaofanalyzingastockbasedongrowthpotentialislargelyattributedtoFisher."CommonStocksAndUncommonlargelyattributedtoFisher."CommonStocksAndUncommonProfits"teachesinvestorstoanalyzethequalityofabusinessProfits"teachesinvestorstoanalyzethequalityofabusiness
ByByInvestopediaStaffInvestopediaStaff
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3/28/2015 10BooksEveryInvestorShouldRead
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anditsabilitytoproduceprofits.Firstpublishedinthe1950s,anditsabilitytoproduceprofits.Firstpublishedinthe1950s,Fisher'slessonsarejustasapplicablehalfacenturylater.Fisher'slessonsarejustasapplicablehalfacenturylater.
"StocksForTheLongRun"(1994)byJeremySiegel"StocksForTheLongRun"(1994)byJeremySiegelAprofessorattheWhartonSchoolofBusiness,JeremySiegelAprofessorattheWhartonSchoolofBusiness,JeremySiegelmakesthecaseforyouguesseditinvestinginstocksoverthemakesthecaseforyouguesseditinvestinginstocksoverthelongrun.Hedrawsonextensiveresearchoverthepasttwolongrun.Hedrawsonextensiveresearchoverthepasttwocenturiestoarguenotonlythatcenturiestoarguenotonlythatequitiesequitiessurpassallothersurpassallotherfinancialassetswhenitcomestoreturns,butalsothatstockfinancialassetswhenitcomestoreturns,butalsothatstockreturnsaresaferandmorepredictableinthefaceoftheeffectsreturnsaresaferandmorepredictableinthefaceoftheeffectsofofinflationinflation.(Tolearnmore,checkout.(Tolearnmore,checkoutTenTipsForTheTenTipsForTheSuccessfulLongTermInvestorSuccessfulLongTermInvestor.).)
"LearnToEarn"(1995),"OneUpOnWallStreet"(1989)or"LearnToEarn"(1995),"OneUpOnWallStreet"(1989)or"BeatingTheStreet"(1994)"BeatingTheStreet"(1994)byPeterLynchbyPeterLynchPeterLynchcameintoprominenceinthe1980sasthemanagerPeterLynchcameintoprominenceinthe1980sasthemanagerofthespectacularlyperformingFidelityMagellanFund."LearnofthespectacularlyperformingFidelityMagellanFund."LearnToEarn"isaimedatayoungeraudienceandexplainsmanyToEarn"isaimedatayoungeraudienceandexplainsmanybusinessbasics,"OneUpOnWallStreet"makesthecaseforbusinessbasics,"OneUpOnWallStreet"makesthecaseforthebenefitsofselfdirectedinvesting,and"BeatingTheStreet"thebenefitsofselfdirectedinvesting,and"BeatingTheStreet"focusesonhowPeterLynchwentaboutchoosingwinningstocksfocusesonhowPeterLynchwentaboutchoosingwinningstocks(orhowhemissedthem)whilerunningthefamedMagellan(orhowhemissedthem)whilerunningthefamedMagellanFund.AllthreeofLynch'sbooksfollowhiscommonsenseFund.AllthreeofLynch'sbooksfollowhiscommonsenseapproach,whichinsiststhatindividualinvestors,iftheytaketheapproach,whichinsiststhatindividualinvestors,iftheytakethetimetodotheirhomework,canperformjustaswelloreventimetodotheirhomework,canperformjustaswellorevenbetterthantheexperts.betterthantheexperts.
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ARandomWalkDownWallStreetARandomWalkDownWallStreet"(1973)byBurtonG.Malkiel"(1973)byBurtonG.Malkiel
ThisbookpopularizedtheideasthatthestockmarketThisbookpopularizedtheideasthatthestockmarketisisefficientefficientandthatitspricesfollowaandthatitspricesfollowarandomwalkrandomwalk.Essentially,.Essentially,thismeansthatyoucan'tbeatthemarket.That'srightthismeansthatyoucan'tbeatthemarket.That'srightaccordingtoMalkiel,noamountofresearch,accordingtoMalkiel,noamountofresearch,whetherwhetherfundamentalfundamentalorortechnicaltechnical,willhelpyouintheleast.Like,willhelpyouintheleast.Likeanygoodacademic,Malkielbacksuphisargumentwithpilesofanygoodacademic,Malkielbacksuphisargumentwithpilesof
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3/28/2015 10BooksEveryInvestorShouldRead
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researchandresearchandstatistics.Itwouldbestatistics.Itwouldbeanunderstatementtoanunderstatementtosaythattheseideassaythattheseideasarecontroversial,arecontroversial,andmanyconsiderandmanyconsiderthemjustshortofthemjustshortofblasphemy.Butblasphemy.ButwhetheryouagreewhetheryouagreewithMalkiel'sideaswithMalkiel'sideasornot,itisnotabadornot,itisnotabad
ideatotakealookathowhearrivesathistheories.(Forfurtherideatotakealookathowhearrivesathistheories.(Forfurtherreading,seereading,seeWhatIsMarketEfficiency?WhatIsMarketEfficiency?))
"TheEssaysOfWarrenBuffett:LessonsForCorporate"TheEssaysOfWarrenBuffett:LessonsForCorporateAmerica"(2001)byWarrenBuffettandLawrenceAmerica"(2001)byWarrenBuffettandLawrenceCunninghamCunninghamAlthoughBuffettseldomcommentsonhiscurrentholdings,heAlthoughBuffettseldomcommentsonhiscurrentholdings,helovestodiscusstheprinciplesbehindhisinvestments.Thisbooklovestodiscusstheprinciplesbehindhisinvestments.ThisbookisactuallyacollectionoflettersthatBuffettwrotetoshareholdersisactuallyacollectionoflettersthatBuffettwrotetoshareholdersoverthepastfewdecades.It'soverthepastfewdecades.It'sthethedefinitiveworksummarizingdefinitiveworksummarizingthetechniquesoftheworld'sgreatestinvestor.Anothergreatthetechniquesoftheworld'sgreatestinvestor.AnothergreatBuffettbookis"TheWarrenBuffettWay"byRobertHagstrom.Buffettbookis"TheWarrenBuffettWay"byRobertHagstrom.(Forfurtherreading,see(Forfurtherreading,seeWarrenBuffett:HowHeDoesWarrenBuffett:HowHeDoesItItandandWhatIsWarrenBuffett'sInvestingStyle?WhatIsWarrenBuffett'sInvestingStyle?))
"HowToMakeMoneyInStocks"(2003,3rded.)byWilliamJ."HowToMakeMoneyInStocks"(2003,3rded.)byWilliamJ.O'NeilO'NeilBillO'NeilisthefounderofBillO'NeilisthefounderofInvestor'sBusinessDailyInvestor'sBusinessDaily,anational,anationalbusinessoffinancialdailynewspapers,andthecreatorofbusinessoffinancialdailynewspapers,andthecreatorofthetheCANSLIMCANSLIMsystemsystem.Ifyouareinterestedinstockpicking,thisis.Ifyouareinterestedinstockpicking,thisisagreatplacetostart.Manyotherbooksarebigongeneralitiesagreatplacetostart.Manyotherbooksarebigongeneralitieswithlittlesubstance,but"HowToMakeMoneyInStocks"withlittlesubstance,but"HowToMakeMoneyInStocks"doesn'tmakethesamemistake.Readingthisbookwillprovidedoesn'tmakethesamemistake.Readingthisbookwillprovideyouwithatangiblesystemthatyoucanimplementrightawayinyouwithatangiblesystemthatyoucanimplementrightawayinyourresearch.(FormoreaboutCANSLIM,seeyourresearch.(FormoreaboutCANSLIM,seeTrader'sCorner:Trader'sCorner:FindingTheMagicMixOfFundamentalsAndTechnicalsFindingTheMagicMixOfFundamentalsAndTechnicals.).)
"RichDadPoorDad"(1997)byRobertT.Kiyosaki"RichDadPoorDad"(1997)byRobertT.Kiyosaki
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3/28/2015 10BooksEveryInvestorShouldRead
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ThisbookisallaboutthelessonstherichteachtheirkidsaboutThisbookisallaboutthelessonstherichteachtheirkidsaboutmoney,which,accordingtotheauthor,poorandmiddleclassmoney,which,accordingtotheauthor,poorandmiddleclassparentsneglect.RobertKiyosaki'smessageissimple,butitparentsneglect.RobertKiyosaki'smessageissimple,butitholdsanimportantfinanciallessonthatmaymotivateyoutostartholdsanimportantfinanciallessonthatmaymotivateyoutostartinvesting:thepoormakemoneybyworkingforit,whiletherichinvesting:thepoormakemoneybyworkingforit,whiletherichmakemoneybyhavingtheirassetsworkforthem.Wecan'tthinkmakemoneybyhavingtheirassetsworkforthem.Wecan'tthinkofabetterfinancialbooktobuyforyourkids.ofabetterfinancialbooktobuyforyourkids.
"CommonSenseOnMutualFunds"(1999)byJohnBogle"CommonSenseOnMutualFunds"(1999)byJohnBogleJohnBogle,founderoftheVanguardGroup,isadrivingforceJohnBogle,founderoftheVanguardGroup,isadrivingforcebehindthecaseforbehindthecaseforindexfundsindexfundsandagainstandagainstactivelyactivelymanagedmanagedmutualfunds.Inthisbook,hebeginswithaprimeronmutualfunds.Inthisbook,hebeginswithaprimeroninvestmentstrategybeforeblastingthemutualfundindustryforinvestmentstrategybeforeblastingthemutualfundindustryfortheexorbitantfeesitchargesinvestors.Ifyouownmutualfunds,theexorbitantfeesitchargesinvestors.Ifyouownmutualfunds,youshouldreadthisbook.(Tolearnmore,seeyoushouldreadthisbook.(Tolearnmore,seeTheTruthBehindTheTruthBehindMutualFundReturnsMutualFundReturns.).)
"IrrationalExuberance"(2000)byRobertJ.Shiller"IrrationalExuberance"(2000)byRobertJ.ShillerNamedafterNamedafterAlanGreenspan'sAlanGreenspan'sinfamous1996commentontheinfamous1996commentontheabsurdityofstockmarketvaluations,Shiller'sbook,releasedinabsurdityofstockmarketvaluations,Shiller'sbook,releasedinMar2000,givesachillingwarningofthedotcombubble'sMar2000,givesachillingwarningofthedotcombubble'simpendingburst.TheYaleeconomistdispelsthemyththattheimpendingburst.TheYaleeconomistdispelsthemyththatthemarketismarketisrationalrationalandinsteadexplainsitintermsofemotion,andinsteadexplainsitintermsofemotion,herdbehaviorandspeculation.Inanironictwist,"Irrationalherdbehaviorandspeculation.Inanironictwist,"IrrationalExuberance"wasreleasedalmostexactlyatthepeakoftheExuberance"wasreleasedalmostexactlyatthepeakofthemarket.(Tolearnmoreonthistopic,seemarket.(Tolearnmoreonthistopic,seeUnderstandingInvestorUnderstandingInvestorBehaviorBehavior.).)
Themoreyouknow,themoreyou'llbeabletoincorporatetheThemoreyouknow,themoreyou'llbeabletoincorporatetheadviceofsomeoftheseexpertsintoyourowninvestmentadviceofsomeoftheseexpertsintoyourowninvestmentstrategy.Thisreadinglistwillgetyoustarted,butitisonlyastrategy.Thisreadinglistwillgetyoustarted,butitisonlyafractionofallthegreatresourcesavailable.Doyouhaveafractionofallthegreatresourcesavailable.Doyouhaveafavoriteinvestingbookthatwe'vemissed?Ifso,favoriteinvestingbookthatwe'vemissed?Ifso,letusknowletusknow..
Foranoverviewofsomeoftheworld'sgreatestinvestors,checkForanoverviewofsomeoftheworld'sgreatestinvestors,checkoutoutTheGreatestInvestorsTheGreatestInvestors..
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3/28/2015 10BooksEveryInvestorShouldRead
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WantWantAGlimpseIntoWarrenBuffetsPortfolio?AGlimpseIntoWarrenBuffetsPortfolio?FindoutifBuffetFindoutifBuffetownsthesamestockasyouwithInvestopediasFREECoattailownsthesamestockasyouwithInvestopediasFREECoattailInvestorYourguidetotheOracleofOmahastradingInvestorYourguidetotheOracleofOmahastradingstrategies.strategies.ClickhereClickheretostartlearningthesecretsofthisindustrytostartlearningthesecretsofthisindustryleadinginvestor.leadinginvestor.
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BeginningInvestorBeginningInvestor BenjaminGrahamBenjaminGraham FinanceLiteratureFinanceLiteratureJohnBogleJohnBogle MoneyManagementMoneyManagement PeterLynchPeterLynch ValueInvestingValueInvestingWarrenBuffettWarrenBuffett WilliamJ.O'NeilWilliamJ.O'Neil
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