Saturday, June 22, 2013

10 Books to Improve Investment Knowledge

 1. The Intelligent Investor, The Definitive Book On Value Investing, Revised Edition
  • Book by Benjamin Graham, Jason Zweig and Warren Buffett
  • Originally written by famed value investor Benjamin Graham in the 1930s, it was updated in 2003 and 2009 by Zweig and Buffett. The revised edition now includes more up to date examples on stock investing techniques.
2. One Up On Wall Street: How to use what you already know to make money in the market.
  • Book by Peter Lynch
  • Peter Lynch is the former manager of Fidelity's Magellan mutual fund who rose to fame in the bull market rally of the 1980s. In the 1980s and 1990s he was one of the best known mutual fund managers in America but has since faded from view as hedge fund managers became the new golden boys. One Up On Wall Street was his first book. The original edition came out in 1989 but the second edition was revised for the dot-com boom in 2000.
3. The Essays of Warren Buffett: Lessons for Corporate America, Second Edition
  • Book by Warren Buffett and Lawrence Cunningham.
  • This book contains Buffett's letters to Berkshire Hathaway shareholders over the last several decades through 2008. The letters are filled with more than just updates about the company as Buffett also shares investing tidbits and insight into his investing philosophy.
4. The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New.
  • Book by Jeremy Siegel
  • Published in 2005, the book shatters the myth that investors have to be in the latest 'in' growth stock or hot IPO to be successful investors. For instance, he compares the historical returns of Exxon and IBM. IBM was the Microsoft or Apple of its time in the 1940s and 1950s. Exxon was the boring big oil company. Even though IBM was growing earnings at a faster pace, Exxon had a lower P/E and paid a larger dividend. Readers might be surprised at which company was the better long term investment. Siegel explains why dividends matter for long term investors and how a company that makes candy triumphed over all of those with the latest hot product.
5. Rule #1: The Simple Strategy For Successful Investing in Only 15 Minutes a Week!
  • Book by Phil Town
  • This book helpful for novice investors because it lays out an investing plan. Town's strategy is to find and invest in wonderful businesses, including those with moats and other margins of safety. It incorporates both value investing principals espoused by Graham and Buffett with some technical analysis.
6. The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich
  • Book by David Bach.
  • This book starts with the powerful story of an average American
    couple--he’s a low-level manager, she’s a beautician--whose joint income never exceeds $55,000 a year, yet who somehow manage to own two homes debt-free, put two kids through college, and retire at 55 with more than $1 million in savings. Through their story you’ll learn the surprising fact that you cannot get rich with a budget! You have to have a plan to pay yourself first that is totally automatic, a plan that will automatically secure your future and pay for your present.
7. The Only Investment Guide You’ll Ever Need
  • Book by Andrew Tobias
  • Andrew Tobias is an entertaining writer. His jocular, conversational tone will keep you interested as he describes mutual funds, bonds, and treasury bills. There’s a good section on how to handle a windfall (lottery, inheritance). This is an excellent introduction to the subject of investing.

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8. The Bogleheads’ Guide to Investing.
  • Book by Larimore, Lindauer, and LeBoeuf. 
  • You want expert investment advice? You can’t beat the info found here. These devotees of Vanugard founder John Bogle are big on slow, sure investments like indexed mutual funds. They tap their decades of experience to teach about diversification, inflation, and asset allocation. It’s not nearly as boring as it sounds.

9. Yes, You Can…Achieve Financial Independence.
  • Book by James Stowers
  • Despite the odd title, this is a solid book on investment from one of the richest men in America. It does cover some basic personal finance information, but mostly gives tips on how to invest.
10. The Four Pillars of Investing
  • By William J. Bernstein
  • William Bernstein is something of a renaissance man—he is a neurologist, the founder of an investment advisory firm, a financial theorist, an author of investment books, and an author of books about economic history. In The Four Pillars of Investing, Bernstein presents a common-sense strategy for building a portfolio that will position investors for success.

Is it enough?

 “People who say they don't have time to read simply don't want to.”
― Julie Rugg, A Book Addict's Treasury