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Dale's Favorite Investment Books

Best Investment Books of All Time
DC Maley
Rank Title Year 1st Published Author Comments
A The 4 Pillars of Investing 2002 Bernstein A medical doctor who switched to investments and spent years studying investments. Every investor should be aware of and understand the 4 pillars he talks about.
A Money Dynamics for the 1990's 1978 VanCaspel First published in 1978, then updated in 1988. A female financial planner who explains investment concepts very well. Explains insurance very well also. Skip limited partnerships since not good investments.
A A Random Walk Down Wall Street 1973 Malkiel Excellent book which studies stock and fund performance. Advocate of Efficient Market theory.
A The Millionaire Next Door 1996 Stanley 2 professors study millionaires for 20 years and publish why they became millionaires. Includes simple formula for target net worth as function of age and income, staying married, buy F150 trucks.
A Bogle on Mutual Funds 1994 Bogle Excellent review of mutual funds by founder of Vanguard mutual funds. Bogle is only advocate for investors in investment business.
A Common Sense on Mutual Funds 1999 Bogle Compliments his other book very well.
A Economics in One Lesson 1946 Hazlitt Forget all that boring baloney you studied in college economics class. This classic book explains basic economics better than any other book.
A The Money Game 1967 Smith Although written about go-go market of 1960's, it has become classic. Well written and includes investor psychology and market history.
A The Wealthy Barber 1998 Chilton Excellent lifetime investment advice written in story telling fashion.
A The Richest Man in Babylon 1955 Clason This short 144 page classic is several parables from ancient Babylon that apply perfectly to us in the 21st century. Advocates saving and investing 10% of what you earn in reasonable investments.
A The Intelligent Investor 1950 Graham Classic by Benjamin Graham, Father of Security Analysis. Until his time, stocks were perceived to be as risky as Las Vegas and everyone bought bonds. He showed how to analyze companies and buy $1.00 worth of stock for 50 cents, then sell it for $1.00. You don't need to read Graham's other book Security Analysis if you read this one, which is easier to read.
A One Up on Wall Street 1989 Lynch Peter Lynch is 1 of handful of people to beat the S&P 500 over several years. Good explanation of his technique.
A The Crowd - A Study of the Popular Mind 1870 Le Bon Gustav Le Bon studied the characterics of crowds and mobs. Not an easy read, but only book which explains crowd behavior, similar to people investing in stock market booms and leaving market in busts.
A Liar's Poker 1989 Lewis Extremely entertaining true story about graduate student entering one of largest firms on Wall Street. Makes one understand how stock brokers blow up their customers and excesses of late 1990's in brokerage firms.
A Where are the Customer's Yachts? 1940 Schwed The stock brokers end up owning the yachts from transferring the wealth from their clients to themselves. Classic.
A Extraordinary Popular Delusions & the Madness of Crowds 1841 Mackay The first 100 pages of this investment classic review the greatest financial bubbles of all time including Tulip Mania and the Mississippi Trust. How to protect yourself against market bubbles.
A The Money Masters 1980 Train Train has several books in which he studies and identifies the traits of the world's greatest investors.
A The Pig and the Python 1998 Cork Explains how the Baby Boomers will affect interest rates and investments . Easy and entertaining to read.
A The Myth of the Robber Barons 1987 Folsom Excellent historical review which debunks the Robber Baron mentality taught in most school classes.
A Buffett-The Making of an American Capitalist 1995 Lowenstein Probably the greatest investor of all time based upon longevity of good investments.
A Index Mutual Funds: How to Simplify Your Life and Beat the Pros 1999 Maley Explains the basics and advantages of index fund investing.
A The Armchair Millionaire 2001 Schiff Great primer on steps to implement to become a millionaire.
A Against the Gods:The Remarkable Story of Risk 1996 Bernstein Great book on history of risk and investing.
A The Smartest Guys in the Room 2003 McClean Excellent review of how Enron rose and fell.
B My Life as a Quant 2004 Derman Insight into how derivative products are manufactured for large investors.
C Wealth Strategies 2000 Duncan A mix of financial, physical, and spiritual advice.
B Great Expectations:America & the Baby Boom Generation 1980 Jones History of the Baby Boomers
B Money Happiness:A Guide to Living the Good Life 2005 Rowley Focuses on relationship between money and happiness.
A Dividends Don't Lie 1989 Weiss Great advice for irrational times like the late 90's Internet boom and bust.
B Millionaire Women Next Door 2004 Stanley Same basic findings as Millionaire Next Door
B The Retirement Savings Time Bomb 2003 Slott Detailed analysis of 401K's, IRA's, etc.
B Asset Allocation 1996 Gibson Theory and practice of asset allocation.
A Wealth of Experience:Real Investors on What Works and What Doesn't 2003 Clarke Uses experiences of actual Vanguard investors. Gives actual asset allocation of investors by age and wealth level.
B How to Make Money in the Stock Market 2005 Eade Short and simple explanation of basics of investing and index funds.
A Stocks for the Long Run 2002 Siegel Excellent review of why stocks are best long term investment.
B The Future for Investors 2005 Siegel Basically a rehash of Stocks for the Long Run
A The Coffeehouse Investor 1998 Schultheis Great small book on investing. Stresses using Vanguard index funds with asset allocation.
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