Author Topic: Recommend me an investment book  (Read 446 times)

L.A.S.

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Recommend me an investment book
« on: May 16, 2018, 09:22:15 AM »
tl;dr: Recommend a book on investing worth owning in the ~$25-30 range that I can buy on Amazon?


Long story: Got an amazon gift card for B-Day.  I don't usually buy much from amazon.  I hate, hate, hate how they have such a severe problem with counterfeits and Chinese-substandard goods -- I'm petrified to buy anything from them.  And on the rare occasion I do need to buy something, I add it to my wife's order since she has Prime.  So I was planning to buy a Canadian silver maple leaf coin with my gift card under my account, but when I got all the way through the check-out and redeemed the gift card, I was informed that the card was redeemed and the money was available under my account but that Amazon no longer allows gift cards to be used on coins.  I emptied the cart and tried again with a few other coins, none worked.   So now I need to figure out something else to buy with this $25 at the Amazon.  I was thinking of an investment book.  I already have the Intelligent Investor, Security Analysis, and Where are the Customer's Yachts.  Any other Ideas?

Radagast

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Re: Recommend me an investment book
« Reply #1 on: May 16, 2018, 10:03:48 AM »
The Four Pillars of Investing is my favorite.

saltrules

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Re: Recommend me an investment book
« Reply #2 on: May 16, 2018, 11:34:26 AM »
A Random Walk Down Wall Street - Burton Malkiel.  Focuses on index fund investing and provides a lot of studies on how active managers have failed to beat low cost passively managed funds over time. It's an easy read and I think this is the first book I would recommend to anyone just starting to get into investing.

The Intelligent Investor - Benjamin Graham.  This is a more technical book and harder to get through, but if you are finance geek or really are really into security analysis, I think this book would be great for you. It focuses more on "value investing" and ignoring the irrational exuberance the "Mr. Market" will go through at times. 

The Millionaire Next Door - Thomas Stanley.  Not sure if this is really an "investing" book, but just a really good all around personal finance and lifestyle book.  I read this coming out of college before discovering MMM and it played a big part in me saving a lot when I was young and had almost no expenses.

I've read a lot more books on finance/investing, but I think those 3 books had the largest and most lasting impact on me.

hadabeardonce

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Re: Recommend me an investment book
« Reply #3 on: May 16, 2018, 11:57:56 AM »
A Random Walk Down Wall Street - Burton Malkiel.  Focuses on index fund investing and provides a lot of studies on how active managers have failed to beat low cost passively managed funds over time. It's an easy read and I think this is the first book I would recommend to anyone just starting to get into investing.
+1

It's worth a spot on a bookshelf or in a glovebox.
Standard advice: Read "Your Money or Your Life" and "A Random Walk Down Wall Street"
https://forum.mrmoneymustache.com/journals/had-a-beard-once's-mustachianismishticness-journey/

Penn42

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Re: Recommend me an investment book
« Reply #4 on: May 16, 2018, 09:50:24 PM »
These are the three I've read.

Financial Fitness Forever - Paul Merriman

First financial book I read and it gave me a good basic understanding of many elements of the financial world.

The Little Book of Common Sense Investing - John Bogle

Just a run down of the numbers behind why index investing is the way to go.

The Simple Path To Wealth - JL Collins.  It's his blog in book form. 

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MustacheAndaHalf

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Re: Recommend me an investment book
« Reply #5 on: May 17, 2018, 06:43:57 AM »
What are you looking for in the next investment book you read?

"A Random Walk Down Wall Street" is good material to start off, but if you already know about indexing and the historical data supporting it, it might not add much to what you know.

Larry Swedroe emphasizes the long-term performance of small-cap stocks and value stocks, also with historical data to back up his claims.  His book "The Only Guide to a Winning Investment Strategy You'll Ever Need" has a demonstration of building up a portfolio.  I use the Amazon link to remember the name, so here it is (but be wary of trusting links from random MMM posters):
https://www.amazon.com/Guide-Winning-Investment-Strategy-Youll/dp/0312339879

His book on factor investing is also interesting, if you've already read the above book.

harvestbook

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Re: Recommend me an investment book
« Reply #6 on: May 17, 2018, 06:50:05 AM »
Only tangential to investing, but Jason Zweig's "Your Money and Your Brain" reveals all the numerous cognitive biases at work when we spend, save, or make financial decisions. To me it is a foundation upon which to think about investing.

Paul Merriman has several free books on his site via PDF download. I'm halfway between a Merriman Man and a Boglehead with a strong Mustachian bent. Simple, cheap, and patient.

appleshampooid

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Re: Recommend me an investment book
« Reply #7 on: May 17, 2018, 09:34:24 AM »
My vote would be The Intelligent Asset Allocator by William Berstein.

https://www.amazon.com/Intelligent-Asset-Allocator-Portfolio-Maximize/dp/1260026647

L.A.S.

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Re: Recommend me an investment book
« Reply #8 on: May 17, 2018, 06:23:16 PM »
Thanks to everyone for the excellent selections!  The ones that I hadn't heard of I looked up on the A->Z.  A few I own already, and some others I had already gotten from the library and read and returned. 

This got me thinking that I really don't need another investment book after all.

(P.S. I ended up ordering a 10X triplet loupe -- apparently the good ones come from Belarus.  Who knew?)
« Last Edit: May 17, 2018, 06:27:43 PM by L.A.S. »