| 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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