Author Topic: Must read books for beginning investors?  (Read 836 times)

lulu0915

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Must read books for beginning investors?
« on: January 18, 2019, 08:28:49 AM »
Hello. What must read books would you recommend for beginning investors? TIA!

YttriumNitrate

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Re: Must read books for beginning investors?
« Reply #1 on: January 18, 2019, 08:38:16 AM »
A Random Walk Down Wall Street.

The Guru

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Re: Must read books for beginning investors?
« Reply #2 on: January 18, 2019, 09:14:24 AM »
^ Definitely this. A bit dry in spots, and the conclusion (SEMI-SPOILER ALERT!) is what we already know, but it's interesting to know WHY it's so.

Also recommend "Bull- A History of the Boom and Bust, 1982-2004" by Maggie Mahar. A lesson on how the price of stocks is influenced by everything EXCEPT what the investments themselves should actually be worth.

Bracken_Joy

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Re: Must read books for beginning investors?
« Reply #3 on: January 18, 2019, 09:17:38 AM »
J L Collins, Simple Path to Wealth

SimpleCycle

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Re: Must read books for beginning investors?
« Reply #4 on: January 18, 2019, 10:50:56 AM »
It's targeted toward Millennials, but I think everyone can benefit from reading "If You Can" by William Bernstein.  It's free and short, and provides further reading lists as well.

http://efficientfrontier.com/ef/0adhoc/2books.htm

Heinz

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Re: Must read books for beginning investors?
« Reply #5 on: January 18, 2019, 06:59:23 PM »
Not an investing book, but The Millionaire Next Door. 

redwood_canyon

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Re: Must read books for beginning investors?
« Reply #6 on: January 19, 2019, 02:38:53 AM »
I have personally enjoyed Peter Lynch Learn to Earn. Its just a straightforward book, pretty easy read that assumes you know almost nothing about investing. (It may be a hit to the "Mustachian ego" ;) but believe me its good to have a refresh on the basics, and an explanation of what it all means.) It also provides a fair amount of history and basic examples eg charts and figures.

The next book would have to be Guide to Investment Strategy by Peter Stanyer. It is published by The Economist, which is a very reputable source of information and news. This book is a lot more "Meaty" and will take a while to grasp and get through. Both books I would highly recommend.

They are both superb in their own ways, but I have personally found the first to be more inviting, or rather less overwhelming. ;)

MDM

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Re: Must read books for beginning investors?
« Reply #7 on: January 19, 2019, 09:37:41 AM »
See
the 'Basic Terms' tab of the case study spreadsheet,
Getting started - Bogleheads
Investment Order
Stock Series
www.etf.com/docs/IfYouCan.pdf
for some reading material.

For longer works, http://www.mrmoneymustache.com/the-mmm-reading-list/ and https://www.bogleheads.org/wiki/Books:_recommendations_and_reviews.
A Random Walk Down Wall Street by Burton Malkiel and The Four Pillars of Investing by William Bernstein are a couple of the usual recommendations.

Indexer

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Re: Must read books for beginning investors?
« Reply #8 on: January 19, 2019, 09:50:31 AM »
A Random Walk Down Wall Street.


If you only read one book on investing I would say A Random Walk Down Wall Street.

It gives you the basics you would learn from reading Intelligent Investor, Irrational Exuberance, and the Little Book of Common Sense Investing without going as deep into the math.

Rosy

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Re: Must read books for beginning investors?
« Reply #9 on: January 19, 2019, 09:58:16 AM »
So glad you asked that question, now I have a new MMM recommended reading list.
... and a big yes to the Random Walk Down Wallstreet and the Little Book of Common Sense Investing.

COEE

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Re: Must read books for beginning investors?
« Reply #10 on: January 19, 2019, 10:27:12 AM »
My favorites are:
Total Money Makeover - You've got to be out of debt to really start investing.  Ignore his investing advice.
Your Money or Your Life - See how your every day decisions effect your life, what's 'enough', and the numbers behind financial independence.  Disclaimer: I haven't read the 2018 version, but I assume it's good and follows the same principles as before.  The forward was written by MMM.
Common Sense on Mutual Funds - I suggest getting this one from the library.  You only need to read it once.  It explains (very in depth) why you want to invest in low-cost index funds, avoid fees and taxes, not time the market, etc.
Charles Schwab's Guide to Financial Independence  A good book that helps you chose an asset allocation based on your risk tolerance and financial outlook.