100 Best Investment Books of All Time

We've researched and ranked the best investment books in the world, based on recommendations from world experts, sales data, and millions of reader ratings. Learn more

Featuring recommendations from Warren Buffett, Reid Hoffman, Malcolm Gladwell, and 399 other experts.
1
The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949. less

Warren BuffettTo invest successfully over a lifetime does not require a stratospheric IQ, unusual business insights, or inside information. What's needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework. This book precisely and clearly prescribes the proper framework. You must provide the emotional discipline. (Source)

Kevin RoseThe foundation for investing. A lot of people have used this as their guide to getting into investment, basic strategies. Actually Warren Buffett cites this as the book that got him into investing and he says that principles he learned here helped him to become a great investor. Highly recommend this book. It’s a great way understand what’s going on and how to evaluate different companies out... (Source)

John KayThe idea is that you look at the underlying value of the company’s activities instead of relying on market gossip. (Source)

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2

The Richest Man in Babylon

This hardcover edition is cleanly formatted for easy reading. 12 point Garamond, 1.25 spacing. The Richest Man in Babylon is a timeless classic, revealing the secrets to making money and keeping it. This inspirational book is hailed as the greatest of books on finances. It unveils the secrets to wealth, providing priceless suggestions, advice, unforgettable parables, financial problem-solving tools, and invaluable information which will get you on your way to riches. The book to read for all who want financial success. less

Daymond John[Daymond John said this is one of his most-recommended books.] (Source)

Grant CardoneThis book emphasized the need to get reliable income streams and to never ever confuse your necessary expenses with the things you want. It’s a timeless classic that every school in America should have in their curriculum. (Source)

David Heinemeier HanssonThis is a 1920s classic version of How To Get Rich. The ancestor of all the pale imitations, like Rich Dad/Poor Dad, that came since. And while I scoffed at plenty of the allegories from ancient Babylon that presents the lessons, it was still a neat package. And at least ancient Babylon is a more interesting backdrop for teaching lessons about money than some suburban house flipper. I ended up... (Source)

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3
Today’s stock market is not for the faint of heart. At a time of frightening volatility, what is the average investor to do?


The answer: turn to Burton G. Malkiel’s advice in his reassuring, authoritative, gimmick-free, and perennially best-selling guide to investing. Long established as the first book to purchase before starting a portfolio or 401(k), A Random Walk Down Wall Street now features new material on “tax-loss harvesting,” the crown jewel of tax management; the current bitcoin bubble; and automated investment advisers; as well as a brand-new chapter on...
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John KayEssentially, the theme of Malkiel’s book was that you could, in effect, do investing yourself. (Source)

Michael HebenstreitIf you want to get into stock trading or in case you want to become an investor, then I definitely would recommend to read the book I already mentioned and in addition: A Random Walk Down Wall Street by Burton Malkiel. (Source)

Andrew W LoIt’s a wonderful read because it doesn’t presuppose any background knowledge of economics or finance…It’s had so much staying power. It was written in the 1970s, a bestseller when it came out, and it’s still a bestseller now. I recommend it to my MBA students today because it’s just a wonderful introduction to the field of finance. At the same time, it provides some very sensible advice for... (Source)

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4
THE NATIONAL BESTSELLING BOOK THAT EVERY INVESTOR SHOULD OWN

Peter Lynch is America's number-one money manager. His mantra: Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.

Now, in a new introduction written specifically for this edition of One Up on Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well as a list of twenty winning companies of high-tech '90s. That many of these winners are low-tech supports his...
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Recommended by Bill Ackman, Patrick Swalls, and 3 others.

Patrick SwallsRead this if you want to learn more about the stock market. (Source)

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5
The real story of the crash began in bizarre feeder markets where the sun doesn't shine and the SEC doesn't dare, or bother, to tread: the bond and real estate derivative markets where geeks invent impenetrable securities to profit from the misery of lower- and middle-class Americans who can't pay their debts. The smart people who understood what was or might be happening were paralyzed by hope and fear; in any case, they weren't talking.

Michael Lewis creates a fresh, character-driven narrative brimming with indignation and dark humor, a fitting sequel to his #1 bestseller...
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Sheryl SandbergMichael Lewis's ability to boil down the most complicated subjects is like a magic trick. You can't believe your own eyes. He takes on important issues - from the 2008 Wall Street crash in "The Big Short" to parenting in "Home Game" - and breaks them down to the deepest truths. His combination of an extraordinarily analytical mind and a deep understanding of human nature allows him to weave... (Source)

Tim HarfordIf I had any criticism of the book, it’s that he makes it seem too obvious. It becomes mysterious how anyone could have been confused. (Source)

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6

Thinking, Fast and Slow

Major New York Times bestseller
Winner of the National Academy of Sciences Best Book Award in 2012
Selected by the New York Times Book Review as one of the best books of 2011
A Globe and Mail Best Books of the Year 2011 Title
One of The Economist's 2011 Books of the Year
One of The Wall Street Journal's Best Nonfiction Books of the Year 2011
2013 Presidential Medal of Freedom Recipient

In the international bestseller, Thinking, Fast and Slow, Daniel Kahneman, the renowned psychologist and winner of the Nobel...
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Barack ObamaA few months ago, Mr. Obama read “Thinking, Fast and Slow,” by Daniel Kahneman, about how people make decisions — quick, instinctive thinking versus slower, contemplative deliberation. For Mr. Obama, a deliberator in an instinctive business, this may be as instructive as any political science text. (Source)

Bill Gates[On Bill Gates's reading list in 2012.] (Source)

Marc AndreessenCaptivating dive into human decision making, marred by inclusion of several/many? psychology studies that fail to replicate. Will stand as a cautionary tale? (Source)

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7

The Millionaire Next Door

The Surprising Secrets of America's Wealthy

-Why aren't I as wealthy as I should be?- Many people ask this question of themselves all the time. Often they are hard-working, well educated middle- to high-income people. Why, then, are so few affluent. For nearly two decades the answer has been found in the bestselling The Millionaire Next Door: The Surprising Secrets of America's Wealthy, reissued with a new foreword for the twenty-first century. According to the authors, most people have it all wrong about how you become wealthy in America. Wealth in America is more often the result of hard work, diligent savings, and living below your... more
Recommended by Dave Collum, and 1 others.

Dave Collum@cullenroche You ever read "Millionaire Next Door"? You just described parts of it. Great book, IMO. (Source)

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8
The best-selling investing "bible" offers new information, new insights, and new perspectives

The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.

While the stock market has tumbled...
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Warren BuffettIn his 2014 shareholder letter, Buffett recommended reading this book over listening to the advice of most financial advisers. (Source)

Kaya Thomas@MegBartelt You’re welcome! Thanks for writing great content. You mentioned John Bogle which book do you recommend I start with, “The Little Book of Common Sense Investing”? (Source)

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9

Principles

Life and Work

Ray Dalio, one of the world’s most successful investors and entrepreneurs, shares the unconventional principles that he’s developed, refined, and used over the past forty years to create unique results in both life and business—and which any person or organization can adopt to help achieve their goals.

In 1975, Ray Dalio founded an investment firm, Bridgewater Associates, out of his two-bedroom apartment in New York City. Forty years later, Bridgewater has made more money for its clients than any other hedge fund in history and grown into the fifth most important private...
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Mark CubanThe book I wish I had as a young entrepreneur. (Source)

Tony RobbinsI found it to be truly extraordinary. Every page is full of so many principles of distinction and insights—and I love how Ray incorporates his history and his life in such an elegant way. (Source)

Bill GatesRay Dalio has provided me with invaluable guidance and insights that are now available to you in Principles. (Source)

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10
A black swan is a highly improbable event with three principal characteristics: It is unpredictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was.

The astonishing success of Google was a black swan; so was 9/11. For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives.

Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to...
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Recommended by Bill Gates, Jeff Bezos, Simon Sinek, and 22 others.

Bill Gates[On Bill Gates's reading list in 2012.] (Source)

Jeff Bezos[From the book "The Everything Store: and the Age of Amazon"] “The scholar argues that people are wired to see patterns in chaos while remaining blind to unpredictable events, with massive consequences. Experimentation and empiricism trumps the easy and obvious narrative,” Stone writes. (Source)

James AltucherAnd throw in “The Black Swan” and “Fooled by Randomness”. “Fragile” means if you hit something might break. “Resilient” means if you hit something, it will stay the same. On my podcast Nassim discusses “Antifragility” – building a system, even on that works for you on a personal level, where you if you harm your self in some way it becomes stronger. That podcast changed my life He discusses... (Source)

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Don't have time to read the top Investment books of all time? Read Shortform summaries.

Shortform summaries help you learn 10x faster by:

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  • Cutting out the fluff: you focus your time on what's important to know
  • Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
11
In Common Stocks and Uncommon Profits, Fisher shares his philosophy, offering valuable insights into the most fundamental and important aspects of buying and selling stock. Here are solid guidelines on when and what to buy, sound reasons for selling common stock, as well as critical information on profit margins and dividends. There is also Fisher's famous list of Top-Ten "Don'ts" for investors, complete with warnings against buying into promotional companies, over-stressing diversification, following the crowd, and buying stock just for the "tone" of its annual report. less

Warren BuffettWhile investor Philip Fisher--who specialized in investing in innovative companies--didn't shape Buffett in quite the same way as Graham did, Buffett still holds him in the highest regard. (Source)

DJ VladThe 3rd most important book in my path to educating myself about the stock market. (Source)

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12

Poor Charlie's Almanack

The Wit and Wisdom of Charles T. Munger

EXPANDED THIRD EDITION includes Charlie's 2007 USC Law School Commencement address. Edited by Peter D. Kaufman. Brand New. less

Warren BuffettFrom 1733 to 1758, Ben Franklin dispensed useful and timeless advice through Poor Richard's Almanack. Among the virtues extolled were thrift, duty, hard work, and simplicity. Subsequently, two centuries went by during which Ben's thoughts on these subjects were regarded as the last word. Then Charlie Munger stepped forth. (Source)

Bill Gates[On Bill Gates's reading list in 2011.] (Source)

Naval RavikantI always recommend [this book] as my top business book. (Source)

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13
”It is impossible to produce superior performance unless you do something different.” — John Templeton

What makes a successful CEO? Most people call to mind a familiar definition: a seasoned manager with deep industry expertise. Others might point to the qualities of today’s so-called celebrity CEOs—charisma, virtuoso communication skills, and a confident management style. But what really matters when you run an organization? What is the hallmark of exceptional CEO performance? Quite simply, it is the returns for the shareholders of that company over the long term.

In...
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Warren BuffettIn his 2012 shareholder letter, Buffett praises The Outsiders as "an outstanding book about CEOs who excelled at capital allocation." Berkshire Hathaway plays a major role in the book. One chapter is on director Tom Murphy, who Buffett says is "overall the best business manager I've ever met." (Source)

Michael DellThorndike explores the importance of thoughtful capital allocation through the stories of eight successful CEOs. A good read for any business leader but especially those willing to chart their own course (Source)

Mason HawkinsThe Outsiders is a must-read for leaders—and aspiring leaders—striving to become exceptional CEOs, and for investors interested in partnering with exceptional stewards of corporate capital. (Source)

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14

The Essays of Warren Buffett

Lessons for Corporate America

The definitive work concerning Warren Buffett and intelligent investment philosophy, this is a collection of Buffett's letters to the shareholders of Berkshire Hathaway written over the past few decades that together furnish an enormously valuable informal education. The letters distill in plain words all the basic principles of sound business practices. They are arranged and introduced by a leading apostle of the "value" school and noted author, Lawrence Cunningham. Here in one place are the priceless pearls of business and investment wisdom, woven into a delightful narrative on the major... more
Recommended by Warren Buffett, Michael Hebenstreit, and 2 others.

Michael HebenstreitIf you want to get into stock trading or in case you want to become an investor, then I definitely would recommend to read the book I already mentioned and in addition: The Essays of Warren Buffett by Warren Buffett. (Source)

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15

Think and Grow Rich

One of the most popular personal development and self-improvement books of all time, Think and Grow Rich has sold over 100 million copies worldwide since its first publication during the Great Depression. In this hardcover edition, Napoleon Hill presents a "Philosophy of Achievement" in 13 principles drawn from the success stories of such greats as Andrew Carnegie, Henry Ford, Thomas Edison, and other millionaires of his time.

Think and Grow Rich reveals the secrets that can bring you fortune. By suppressing negative thoughts and keeping your focus on...
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Daymond JohnThe main takeaway from [this book] was goal-setting. It was the fact that if you don't set a specific goal, then how can you expect to hit it? (Source)

Mark Moses[ listing the books that had the biggest impact on him] (Source)

Sa ElAnother book all about how to obtain financial success by changing how you think and how to change your actions based on that thinking pattern, mindset is the first thing that must change if you want to build a business. (Source)

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16

Security Analysis

"A road map for investing that I have now been following for 57 years."
--From the Foreword by Warren E. Buffett

First published in 1934, "Security Analysis" is one of the most influential financial books ever written. Selling more than one million copies through five editions, it has provided generations of investors with the timeless value investing philosophy and techniques of Benjamin Graham and David L. Dodd.

As relevant today as when they first appeared nearly 75 years ago, the teachings of Benjamin Graham, the father of value investing, have withstood the...
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Warren BuffettBuffett said that Security Analysis, another groundbreaking work of Graham's, had given him a road map for investing that he has been following for 57 years. (Source)

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17
"This is that rarity, a useful book."--Warren Buffett

Howard Marks, the chairman and cofounder of Oaktree Capital Management, is renowned for his insightful assessments of market opportunity and risk. After four decades spent ascending to the top of the investment management profession, he is today sought out by the world's leading value investors, and his client memos brim with insightful commentary and a time-tested, fundamental philosophy. Now for the first time, all readers can benefit from Marks's wisdom, concentrated into a single volume that speaks to both the amateur and...
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Recommended by Warren Buffett, Henry Medine, and 2 others.

Warren BuffettThis is that rarity, a useful book. (Source)

Henry MedineWhenever I am assessing an investment decision I refer to Howard Marks (Oaktree Capital Management) The Most Important Thing: Uncommon Sense for the Thoughtful Investor. He lays out explicit techniques for reaching second level thinking and outlines particular questions any investor should ask themselves before making an investment decision. I paraphrased the lessons I found most useful and refer... (Source)

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18
The New York Times bestselling author and social media expert returns with hard-won advice on how to connect with customers and beat the competition by mastering social media marketing

When managers and marketers outline their social media strategies, they often plan for the "right hook"-their next highly anticipated sale or campaign that's going to put the competition out for the count. Even companies committed to jabbing-patiently engaging with customers to build the relationships so crucial to successful social media campaigns-still yearn to land the powerful, bruising...
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Marvin LiaoMy list would be (besides the ones I mentioned in answer to the previous question) both business & Fiction/Sci-Fi and ones I personally found helpful to myself. The business books explain just exactly how business, work & investing are in reality & how to think properly & differentiate yourself. On the non-business side, a mix of History & classic fiction to understand people, philosophy to make... (Source)

Bill WidmerIn general, I recommend Rich Dad Poor Dad by Robert Kiyosaki to learn more about assets and liability and how to view money. (Source)

Sa ElThis book started everything for me and put me on a path to a rich mindset, it helped me understand that dreaming wasn't enough, you had to actually place that dream into reality if you ever want to achieve it. (Source)

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19
In Rich Dad Poor Dad, the #1 Personal Finance book of all time, Robert Kiyosaki shares the story of his two dad: his real father, whom he calls his ‘poor dad,’ and the father of his best friend, the man who became his mentor and his ‘rich dad.’ One man was well educated and an employee all his life, the other’s education was “street smarts” over traditional classroom education and he took the path of entrepreneurship…a road that led him to become one of the wealthiest men in Hawaii. Robert’s poor dad struggled financially all his life, and these two dads—these very different points of view of... more
Recommended by Daymond John, Will Smith, and 2 others.

Will Smith[Will Smith mentioned sharing this book with his son.] (Source)

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20
Here is THE book recounting the life and times of one of the most respected men in the world, Warren Buffett. The legendary Omaha investor has never written a memoir, but now he has allowed one writer, Alice Schroeder, unprecedented access to explore directly with him and with those closest to him his work, opinions, struggles, triumphs, follies, and wisdom. The result is the personally revealing and complete biography of the man known everywhere as “The Oracle of Omaha.”

Although the media track him constantly, Buffett himself has never told his full life story. His reality is...
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Marvin LiaoMy list would be (besides the ones I mentioned in answer to the previous question) both business & Fiction/Sci-Fi and ones I personally found helpful to myself. The business books explain just exactly how business, work & investing are in reality & how to think properly & differentiate yourself. On the non-business side, a mix of History & classic fiction to understand people, philosophy to make... (Source)

John KayIt’s on the list, firstly, because Buffet is the most successful investor in history. (Source)

Chude JideonwoIt's been so long, and I've been so busy that I haven't been able to recommend a book. I am sorry! I have read so many fantastic ones though, no matter how busy I have been. And I am soooooo excited to recommend this one. I love Warren Buffett ... https://t.co/ML0pM3G29k https://t.co/6yhfhT8WF5 (Source)

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Don't have time to read the top Investment books of all time? Read Shortform summaries.

Shortform summaries help you learn 10x faster by:

  • Being comprehensive: you learn the most important points in the book
  • Cutting out the fluff: you focus your time on what's important to know
  • Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
21
If you want to build a better future, you must believe in secrets.

The great secret of our time is that there are still uncharted frontiers to explore and new inventions to create. In Zero to One, legendary entrepreneur and investor Peter Thiel shows how we can find singular ways to create those new things.

Thiel begins with the contrarian premise that we live in an age of technological stagnation, even if we’re too distracted by shiny mobile devices to notice. Information technology has improved rapidly, but there is no reason why progress should be limited to...
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Elon MuskPeter Thiel has built multiple breakthrough companies, and Zero to One shows how.” - Elon Mus (Source)

Mark ZuckerbergThis book delivers completely new and refreshing ideas on how to create value in the world. (Source)

Eric WeinsteinIf you really understand something that the rest of the world is confused about, and it’s an important truth, [this book] says here are all the ways you might want to make that work. (Source)

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22
Fooled by Randomness is a standalone book in Nassim Nicholas Taleb’s landmark Incerto series, an investigation of opacity, luck, uncertainty, probability, human error, risk, and decision-making in a world we don’t understand. The other books in the series are The Black Swan, Antifragile, and The Bed of Procrustes.

Now in a striking new hardcover edition, Fooled by Randomness is the word-of-mouth sensation that will change the way you think about business and the world. Nassim Nicholas Taleb–veteran trader, renowned risk expert, polymathic scholar,...
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James AltucherAnd throw in “The Black Swan” and “Fooled by Randomness”. “Fragile” means if you hit something might break. “Resilient” means if you hit something, it will stay the same. On my podcast Nassim discusses “Antifragility” – building a system, even on that works for you on a personal level, where you if you harm your self in some way it becomes stronger. That podcast changed my life He discusses... (Source)

Howard MarksReally about how much randomness there is in our world. (Source)

Anant JainThe five-book series, "Incerto", by Nassim Nicholas Taleb has had a profound impact on how I think about the world. There’s some overlap across the books — but you'll likely find the repetition helpful in retaining the content better. (Source)

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23
Reminiscences of a Stock Operator is the unforgettable story of the life of Jesse Livermore, one of Wall Street's greatest ever stock speculators.

Loosely fictionalised in 1923 in collaboration with journalist Edwin Lefevre, this is the story of the highs and the lows, the strategies and the street smarts, the epic wins (and sometimes epic losses) that has inspired generations of investors and traders.

This edition comes with an exclusive foreword by Tim Price, author of Investing Through the Looking Glass.

Harriman Definitive Editions...
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Steve Burns"By far, the best investing book is Reminiscences Of A Stock Operator. Everything in that book is true about how markets work, how human nature works, the mistakes people make, the greed that they have, the ways they get themselves in trouble." - Gundlach https://t.co/asuBsN0BvM (Source)

Alykhan SatchuMy all time favorite Book https://t.co/UxwPMlAcXU (Source)

Joshua M. BrownEach new generation of traders gets inspired by this book but I have come to love it as more of a cautionary tale. and FYI, this is the better book for that context: https://t.co/116lNciXCF https://t.co/mEYn2ZAqPI (Source)

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24
A comprehensive and practical guide to the stock market from a successful fund manager—filled with case studies, important background information, and all the tools you’ll need to become a stock market genius.

Fund manager Joel Greenblatt has been beating the Dow (with returns of 50 percent a year) for more than a decade. And now, in this highly accessible guide, he’s going to show you how to do it, too. You’re about to discover investment opportunities that portfolio managers, business-school professors, and top investment experts regularly miss—uncharted areas where the...
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Steve Burns@DeepGadkari That is a great book! (Source)

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25
The classic guide to constructing a solid portfolio--without a financial advisor!

"With relatively little effort, you can design and assemble an investment portfolio that, because of its wide diversification and minimal expenses, will prove superior to the most professionally managed accounts. Great intelligence and good luck are not required."

William Bernstein's commonsense approach to portfolio construction has served investors well during the past turbulent decade--and it's what made The Four Pillars of Investing an instant classic when it was...
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Recommended by Bill Earner, and 1 others.

Bill EarnerFour Pillars has a good methodology for thinking about how to save and invest personally so definitely useful. (Source)

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26
A comprehensive value investing framework for the individual investor In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Readers... more
Recommended by Vishal Khandelwal, and 1 others.

Vishal KhandelwalThe most important thing I've learned from @MohnishPabrai isn't about investing, but about striving to be an "instrument of giving." Thanks for that wonderful lesson of a lifetime, Mohnish. It was great meeting you today! (page from his must-read book, The Dhandho Investor). https://t.co/60zgojitqX (Source)

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27
To find the keys to greatness, Collins's 21-person research team read and coded 6,000 articles, generated more than 2,000 pages of interview transcripts and created 384 megabytes of computer data in a five-year project. The findings will surprise many readers and, quite frankly, upset others.

The Challenge
Built to Last, the defining management study of the nineties, showed how great companies triumph over time and how long-term sustained performance can be engineered into the DNA of an enterprise from the very beginning.

But what about the company that is not born...
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Jeff Bezos"Collins briefed Amazon executives on his seminal management book before its publication. Companies must confront the brutal facts of their business, find out what they are uniquely good at, and master their fly wheel, in which each part of the business reinforces and accelerates the other parts," Stone writes. (Source)

Dave Ramsey[Dave Ramsey recommended this book on his website.] (Source)

Max Levchin[Max Levchin recommended this book as an answer to "What business books would you advise young entrepreneurs read?"] (Source)

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28

With a new Afterword addressing today’s financial crisis

A BUSINESS WEEK BEST BOOK OF THE YEAR

In this business classic—now with a new Afterword in which the author draws parallels to the recent financial crisis—Roger Lowenstein captures the gripping roller-coaster ride of Long-Term Capital Management. Drawing on confidential internal memos and interviews with dozens of key players, Lowenstein explains not just how the fund made and lost its money but also how the personalities of Long-Term’s partners, the arrogance of their mathematical certainties, and the...

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Recommended by Max Levchin, John Gapper, and 2 others.

Max Levchin[Max Levchin recommended this book as an answer to "What business books would you advise young entrepreneurs read?"] (Source)

John GapperThe Fed itself did not bail out LTCM, but it was worried enough to get a bunch of big banks into the room and say, “Would you care to chip in and save this thing?” Which they obligingly did – and then liquidated it. The Fed foresaw that the failure of a single big hedge fund could send shock waves through the entire financial system. The issue of systemic risk was highlighted. (Source)

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29
"In the dark, bewildering, trap-infested jungle of misinformation and opaque riddles that is the world of investment, JL Collins is the fatherly wizard on the side of the path, offering a simple map, warm words of encouragement and the tools to forge your way through with confidence. You'll never find a wiser advisor with a bigger heart." -- Malachi Rempen: Filmmaker, cartoonist, author and self-described ruffian
This book grew out of a series of letters to my daughter concerning various things-mostly about money and investing-she was not yet quite ready to hear.
Since money is...
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Recommended by Gunhee Park, and 1 others.

Gunhee ParkSome other books I’ve really enjoyed: [...] The Simple Path to Wealth. (Source)

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30
Starting from scratch, simply by picking stocks and companies for investment, Warren Buffett amassed one of the epochal fortunes of the 20th century -- an astounding net worth of $10 billion and counting. That awesome record has made him a cult figure.

This illuminating biography reveals a man whose conscientiousness, integrity, and good humor exist alongside an odd emotional isolation. Buffett also masterfully traces his life: his enormously successful partnership; his early, inspired investments in American Express and Geico; his companionship and investment with...
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Recommended by Bill Gates, and 1 others.

Bill GatesOther books have been written about Warren Buffett and his investment strategy, but until Warren writes his own book, this is the one to read. (Source)

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Don't have time to read the top Investment books of all time? Read Shortform summaries.

Shortform summaries help you learn 10x faster by:

  • Being comprehensive: you learn the most important points in the book
  • Cutting out the fluff: you focus your time on what's important to know
  • Interactive exercises: apply the book's ideas to your own life with our educators' guidance.
31

Beating the Street

The terrific new guide to investing in stocks that goes beyond Peter Lynch's previous runaway bestseller, One Up on Wall Street. Lynch explains how he researched and selected the companies he recommended in the 1992 Barron's Roundtable, giving information that readers can use in any market environment to find successful companies and winning stocks. less

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32
NATIONAL BESTSELLER!
"Cogent, honest, and hard-hitting-a must read for every investor." -Warren E. Buffett
Praise for Common Sense on Mutual Funds
"Invoking both Thomas Paine and Benjamin Graham, Jack Bogle outlines a supremely logical plan not only to better investors' returns, but to improve the whole fund industry. This isn't just the best book yet by Bogle, it may well be the best book ever on mutual funds." -DON PHILLIPS, President & CEO, Morningstar, Inc.
"Buffett cannot teach you or me how to become a Warren Buffett. Bogle's reasoned precepts can enable a...
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Jason ZweigThis is a wonderful, comprehensive introduction to how the financial markets work. It shows who has your interests at heart, and what the various self-interests are, of all the people you are likely to encounter when you invest. (Source)

Burton MalkielJohn C. Bogle shares his extensive insights on investing in mutual funds (Source)

Peter MalloukA book that I read when I was very young that I thought really kind of explained the investing world in plain English. (Source)

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33
The Warren Buffett Way offers investors their first in-depth look at the innovative investment and business strategies behind the spectacular success of living legend Warren E. Buffett. Tracing Warren Buffett's career from the beginning, Robert G. Hagstrom, Jr., tells us exactly how, starting with an initial investment of only $100, Buffett built a business empire worth $19.4 billion. Offers a close-up look at Buffett's highly successful investment theories and strategies; identifies the types of businesses Buffett now finds most attractive, and which ones he avoids; and based on the author's... more
Recommended by Howard Marks, Grant Cardone, and 2 others.

Howard MarksI was asked to write the foreword for the latest edition. (Source)

Grant CardoneThis read contains a detailed analysis of Buffett’s principal investments through his early partnerships—and detailed descriptions of the circumstances under which some of those investments were actually made. This alone makes it great learning material for anyone interested in trying to emulate him. (Source)

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34
More than 100 pages of new, cutting-edge content.
Forget the old concept of retirement and the rest of the deferred-life plan there is no need to wait and every reason not to, especially in unpredictable economic times. Whether your dream is escaping the rat race, experiencing high-end world travel, earning a monthly five-figure income with zero management, or just living more and working less, The 4-Hour Workweek is the blueprint.
This step-by-step guide to luxury lifestyle design teaches:
How Tim went from $40,000 per year and 80 hours per week to $40,000 per month...
more

Eric Weinstein[Eric Weinstein recommended this book on Twitter.] (Source)

Tim DraperWith this kind of time management and focus on the important things in life, people should be able to get 15 times as much done in a normal work week. (Source)

Marvin LiaoSUCH a hard question to answer because there are so MANY favorite books of mine. For Business, i'd say either 80/20 Principle (Koch) or 4 Hour Work Week (Ferriss) for the principles it teaches on how to optimize work & life. (Source)

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35

Antifragile

Things That Gain from Disorder

From the bestselling author of The Black Swan and one of the foremost philosophers of our time, Nassim Nicholas Taleb, a book on how some systems actually benefit from disorder.

In The Black Swan Taleb outlined a problem; in Antifragile he offers a definitive solution: how to gain from disorder and chaos while being protected from fragilities and adverse events. For what he calls the "antifragile" is one step beyond robust, as it benefits from adversity, uncertainty and stressors, just as human bones get stronger when subjected to stress and tension.

Taleb stands...
more

James AltucherYou ask about success. To be successful you have to avoid being “fragile” – the idea that if something hurts you, you let collapse completely. You also have to avoid simply being resilient. Bouncing back is not enough. Antifragile is when something tries to hurt you and you come back stronger. That is real life business. That is real life success. Nassim focuses on the economy. But when I read... (Source)

Marvin Liaoeval(ez_write_tag([[250,250],'theceolibrary_com-leader-2','ezslot_7',164,'0','1'])); My list would be (besides the ones I mentioned in answer to the previous question) both business & Fiction/Sci-Fi and ones I personally found helpful to myself. The business books explain just exactly how business, work & investing are in reality & how to think properly & differentiate yourself. On... (Source)

Vlad TenevThe general concept is applicable to many fields beyond biology, for instance finance, economics and monetary policy. (Source)

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36

The Bogleheads' Guide to Investing

The Bogleheads' Guide to Investing is a slightly irreverent, straightforward guide to investing for everyone. The book offers sound, practical advice, no matter what your age or net worth. Bottomline, become a Boglehead and prosper! Originally just the chat-line ruminations of Boglehead founder Taylor Larimore, and Morningstar forum leading cohorts Mel Lindauer and Michael LeBoeuf, their trusted advice has been brewed and distilled into an easy-to-use, need-to-know, no frills guide to building up your own financial well-being - so you can worry less and profit more from the investments... more

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37
In this shrewd and wickedly funny book, Michael Lewis describes an astonishing era and his own rake's progress through a powerful investment bank. From an unlikely beginning (art history at Princeton?) he rose in two short years from Salomon Brothers trainee to Geek (the lowest form of life on the trading floor) to Big Swinging Dick, the most dangerous beast in the jungle, a bond salesman who could turn over millions of dollars' worth of doubtful bonds with just one call.

With the eye and ear of a born storyteller, Michael Lewis shows us how things really worked on Wall Street....

more
Recommended by John Lanchester, Audrey Russo, and 2 others.

John LanchesterIt’s still a wonderfully entertaining book: An absolutely hilarious, very, very dark, vivid account of how Michael Lewis came out of Princeton and, with basically no qualifications, got a job in the bond trading department of Salomon Brothers (Source)

Audrey RussoQuestion: What books would you recommend to young people interested in your career path? Answer: Anything by Peter Senge. The Hard Thing About Hard Things – Ben Horowitz Once you are Lucky, Twice you are good – Sara Lacey Revolutionary Wealth – Alvin Toffler Black Swan – Taleb Reset: My Fight for Inclusion and Lasting Change, by Ellen Pao. Creative Class – Richard Florida Creativity Inc. by Ed... (Source)

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38
In The Book on Rental Property Investing, real estate investor and co-host of the BiggerPockets Podcast Brandon Turner has one goal in mind: to give you every strategy, tool, tip, and technique needed to become a millionaire rental property investor--while helping you avoid the junk that pulls down so many wannabes! Written for both new and experienced investors, this book will impart years of experience through the informative and entertaining lessons contained within. You'll find practical, up-to-date, exciting strategies that investors across the world are using to build wealth and... more

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39
The One Thing explains the success habit to overcome the six lies that block our success, beat the seven thieves that steal time, and leverage the laws of purpose, priority, and productivity. less

Gennady BatrakovReading improved my self-discipline and consistency. It helped me to focus on the right things. This book, in particular, opened my eyes to how extraordinary results can be achieved – The ONE Thing by Gary Keller. (Source)

Erik RostadFor career books, I'll focus on more overarching themes. You can get books on particular skills you need for a given job, but these books will help having the right mindset for a career and how work should fit into the greater story of your life. For focus: The One Thing by Gary Keller. (Source)

Charles Poliquin[Charles Poliquin recommended this book in the book "Tools of Titans".] (Source)

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40

Value Investing

From Graham to Buffett and Beyond

From the "guru to Wall Street's gurus" comes the fundamental techniques of value investing and their applications
Bruce Greenwald is one of the leading authorities on value investing. Some of the savviest people on Wall Street have taken his Columbia Business School executive education course on the subject. Now this dynamic and popular teacher, with some colleagues, reveals the fundamental principles of value investing, the one investment technique that has proven itself consistently over time. After covering general techniques of value investing, the book proceeds to illustrate their...
more

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41

The Little Book That Beats the Market

Two years in MBA school won't teach you how to double the market's return. Two hours with The Little Book That Beats the Market will. In The Little Book, Joel Greenblatt, Founder and Managing Partner at Gotham Capital (with average annualized returns of 40% for over 20 years), does more than simply set out the basic principles for successful stock market investing. He provides a "magic formula" that is easy to use and makes buying good companies at bargain prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional... more

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42
The stock-investing classic--UPDATED TO HELP YOU WIN IN TODAY'S CHAOTIC GLOBAL ECONOMY


Much has changed since the last edition of Stocks for the Long Run. The financial crisis, the deepest bear market since the Great Depression, and the continued growth of the emerging markets are just some of the contingencies directly affecting every portfolio inthe world.

To help you navigate markets and make the best investment decisions, Jeremy Siegel has updated his bestselling guide to stock market investing.

This new edition of...
more

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43
What happens when a young Wall Street investment banker spends a small fortune to have lunch with Warren Buffett? He becomes a real value investor. In this fascinating inside story, Guy Spier details his career from Harvard MBA to hedge fund manager. But the path was not so straightforward. Spier reveals his transformation from a Gordon Gekko wannabe, driven by greed, to a sophisticated investor who enjoys success without selling his soul to the highest bidder. Spier's journey is similar to the thousands that flock to Wall Street every year with their shiny new diplomas, aiming to be King of... more
Recommended by Marvin Liao, Benjamin Kwan, and 2 others.

Marvin LiaoI’d say it was back during my teenage years at High School, feeling very down when my grandfather passed away & overall just feeling VERY lost direction wise in life. I retreated to my books & the ones that still stick with me are Louis L’Amour’s “The Education of a Wandering Man” & his Medieval adventure “The Walking Drum“. They entranced me & helped me to get my spirits back up. (Source)

Benjamin KwanI am currently reading "The Education of a Value Investor- Guy Spier". I am very interested in Value Investing and I tried reading The Intelligent Investor by Benjamin Graham but it was too difficult for me to understand. So I decided to read this first before revisiting the Holy Grail of Value Investing. (Source)

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44
The world's top trader's reveal the secrets of their phenomenal success!

How do the world's most successful traders amass tens, hundreds of millions of dollars a year? Are they masters of an occult knowledge, lucky winners in a random market lottery, natural-born virtuosi--Mozarts of the markets? In search of an answer, bestselling author Jack D. Schwager interviewed dozens of top traders across most financial markets. While their responses differed in the details, all of them could be boiled down to the same essential formula: solid methodology + proper mental attitude =...
more

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45

Flash Boys

A Wall Street Revolt

Four years after his #1 bestseller The Big Short, Michael Lewis returns to Wall Street to report on a high-tech predator stalking the equity markets.

Flash Boys is about a small group of Wall Street guys who figure out that the U.S. stock market has been rigged for the benefit of insiders and that, post–financial crisis, the markets have become not more free but less, and more controlled by the big Wall Street banks. Working at different firms, they come to this realization separately; but after they discover one another, the flash boys band...
more
Recommended by Alykhan Satchu, and 1 others.

Alykhan Satchu@surambaya @MihrThakar @NorthmanTrader great book (Source)

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46
In 2005, Joel Greenblatt published a book that is already considered one of the classics of finance literature. In The Little Book that Beats the Market--a New York Times bestseller with 300,000 copies in print--Greenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices. Now, with a new Introduction and Afterword for 2010, The Little Book that Still Beats the Market updates and expands upon the research findings from the... more

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47
With the stock market breaking records almost daily, leaving longtime market analysts shaking their heads and revising their forecasts, a study of the concept of risk seems quite timely. Peter Bernstein has written a comprehensive history of man's efforts to understand risk and probability, beginning with early gamblers in ancient Greece, continuing through the 17th-century French mathematicians Pascal and Fermat and up to modern chaos theory. Along the way he demonstrates that understanding risk underlies everything from game theory to bridge-building to winemaking. less

Jason ZweigIn the book, he explores risk at every conceivable level – what it is mathematically and what it is psychologically, how it has played out historically, how people have thought to measure it and also to control it. (Source)

John Lanchesterit’s an absolutely fascinating, for-the-layman account of how humanity mastered risk and came to understand probability. (Source)

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48

Berkshire Hathaway Letters to Shareholders

This book compiles the full, un-edited versions of every one of Warren Buffett's letters to the shareholders of Berkshire Hathaway. In addition to providing an astounding case study on Berkshire's success, Buffett shows an incredible willingness to share his methods and act as a teacher to his many students. less

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49
The Only Investment Guide You'll Ever Need . . . actually lives up to its name.” — Los Angeles Times

“So full of tips and angles that only a booby or a billionaire could not benefit.” — New York Times


For nearly forty years, The Only Investment Guide You'll Ever Need has been a favorite finance guide, earning the allegiance of more than a million readers across America. This completely updated edition will show you how to use your money to your best advantage in today's financial marketplace, no matter what your means.

...
more
Recommended by Mark Cuban, Jeffrey Snover, and 2 others.

Jeffrey Snover@AndrewTobias wrote a fantastic book about how to think about money, spending, saving, and investing. If you don't have these things in focus, I can STRONGLY recommend this book. https://t.co/wa4eOhkxXb https://t.co/hOU23B43Kl (Source)

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50
If you will live like no one else, later you can "live" like no one else.

Build up your money muscles with America's favorite finance coach.

Okay, folks, do you want to turn those fat and flabby expenses into a well-toned budget? Do you want to transform your sad and skinny little bank account into a bulked-up cash machine? Then get with the program, people. There's one sure way to whip your finances into shape, and that's with "The Total Money Makeover: Classic Edition".

By now, you've heard all the nutty get-rich-quick schemes, the fiscal diet fads...
more

Eric 'Dids'Recently listened to the Audiobook "Total Money Makeover" and am amazed how much it has made a difference, arguably more so outside of finance. The motto posed in the book, "Live like nobody else so eventually you can live like nobody else." Is an amazing motto to have in life. (Source)

Vincent PuglieseLinchpin by Seth Godin, The Total Money Makeover by Dave Ramsey, and Rich Dad, Poor Dad had immediate effects on my life. (Source)

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51

Irrational Exuberance

As Robert Shiller’s new 2009 preface to his prescient classic on behavioral economics and market volatility asserts, the irrational exuberance of the stock and housing markets “has been ended by an economic crisis of a magnitude not seen since the Great Depression of the 1930s.” As we all, ordinary Americans and professional investors alike, crawl from the wreckage of our heedless bubble economy, the shrewd insights and sober warnings, and hard facts that Shiller marshals in this book are more invaluable than ever.

The original and bestselling 2000 edition of Irrational Exuberance...
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52

The bestselling classic from the "Sherlock Holmes of Accounting"--updated to reflect the key case studies and most important lessons from the past quarter century.
This fourth edition of the classic guide shines a light on the most shocking frauds and financial reporting offenders of the last twenty-five years, and gives investors the tools they need to detect:
-Corporate cultures that incentivize dishonest practices-The latest tricks companies use to exaggerate revenue and earnings-Techniques devised by management to manipulate cash flow as...
more
Recommended by Anu Hariharan, Sam E. Antar, and 2 others.

Sam E. Antar@HowardSchilit And I love your book! (Source)

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53
Tells how to avoid investment fads, explains the basic concepts of value-investment philosophy, and offers advice on portfolio management. less

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54
THE NATIONAL BESTSELLER!

Anyone can learn to invest wisely with this bestselling investment system!

Through every type of market, William J. O'Neil's national bestseller, How to Make Money in Stocks, has shown over 2 million investors the secrets to building wealth. O'Neil's powerful CAN SLIM(R) Investing System--a proven 7-step process for minimizing risk and maximizing gains--has influenced generations of investors.

Based on a major study of market winners from 1880 to 2009, this expanded edition gives you:

Proven...
more

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55
Tony Robbins has coached and inspired more than 50 million people from over 100 countries. More than 4 million people have attended his live events. Oprah Winfrey calls him super-human. Now for the first time - in his first book in two decades - he's turned to the topic that vexes us all: How to secure financial freedom for ourselves and our families.

Based on extensive research and one-on-one interviews with more than 50 of the most legendary financial experts in the world - from Carl Icahn and Warren Buffett, to Ray Dalio and Steve Forbes - Tony Robbins has created a...
more

Naveen Jain(Note: when asked what five books he'd recommend to young people interested in reaching for the moon and beyond) The books I mentioned previously – Abundance by Peter Diamandis, Life at the Speed of Light by Craig Venter and How Will You Measure Your Life? by Clayton M. Christensen, James Allworth, and Karen Dillon. Additionally Money Master the Game: 7 Simple Steps to Financial Freedom by Tony... (Source)

Jochen SiepmannQuestion: What books had the biggest impact on you? Perhaps changed the way you see things or dramatically changed your career path. Answer: Rich Dad, Poor Dad (Robert Kiyosaki) Money, Master The Game (Anthony Robbins) Secrets Of The Millionaire Mind (T Harv Eker) (Source)

Yaro StarakI know about Ray Dalio because he was mentioned in Tony Robbins’ book “Money Master the Game”, the book I went through a couple of years ago, another finance book, a great one. And Tony really gave a lot of props to Ray Dalio so when his book came out and all these other people made me aware of it, I downloaded the audiobook as well, so that’s by far the most common way. (Source)

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56
In The Little Book That Builds Wealth, author Pat Dorsey--the Director of Equity Research for leading independent investment research provider Morningstar, Inc.--reveals why competitive advantages, or economic moats, are such strong indicators of great long-term investments and examines four of their most common sources: intangible assets, cost advantages, customer-switching costs, and network economics. Along the way, he skillfully outlines this proven approach and reveals how you can effectively apply it to your own investment endeavors. less

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57
From the world-famous inventor of fractal geometry, a revolutionary new theory that turns on its head our understanding of how markets work. Fractal geometry is the mathematics of roughness: how to reduce the outline of a jagged leaf, a rocky coastline or static in a computer connection to a few simple mathematical properties - to make the complex simple. With his fractal tools, Benoit Mandelbrot has got to the bottom of how financial markets really work. He finds they have a shifting sense of time, a unique dimension and a wild kind of behaviour that makes them volatile, dangerous - and also... more

James Owen WeatherallWhat Mandelbrot realised early on, at the start of the 1960s, was that the kind of assumptions about statistics that everyone was making were wrong. (Source)

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58

Rich Dad’s CASHFLOW Quadrant is a guide to financial freedom. It’s the second book in the Rich Dad Series and reveals how some people work less, earn more, pay less in taxes, and learn to become financially free.

CASHFLOW Quadrant was written for those who are ready to move beyond job security and enter the world of financial freedom. It’s for those who want to make significant changes in their lives and take control of their financial future.

Robert believes that the reason most people struggle financially is because they've been spent years in school but were...
more
Recommended by Malcolm Tan, Sa El, and 2 others.

Malcolm TanThe business book series that set me on the path to entrepreneurship is from Richard Kiyosaki - from Rich Dad, Poor Dad to the Cashflow Quadrant, and his other books. My paradigms shifted after reading those books and made me decide that in order to achieve some arbitrary financial goals, what I was doing at that point in time (being a company lawyer) wasn't going to enable me to reach those... (Source)

Sa ElYes, when I read the Cashflow Quadrant, it helped me understand that I needed to transition from a space of being self-employed into either being a business owner or an investor. I became a business owner and have been creating passive income from it. (Source)

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59
The groundbreaking NEW YORK TIMES and WALL STREET JOURNAL BESTSELLER that taught a generation how to earn more, save more, and live a rich life—now in a revised 2nd edition.
 
Buy as many lattes as you want. Choose the right accounts and investments so your money grows for you—automatically. Best of all, spend guilt-free on the things you love.
 
Personal finance expert Ramit Sethi has been called a “wealth wizard” by Forbes and the “new guru on the block” by Fortune. Now he’s updated and expanded his modern money classic for a new...
more

Seth GodinThe easiest way to get rich is to inherit. This is the second best way—knowledge and some discipline. If you’re bold enough to do the right thing, Ramit will show you how. Highly recommended. (Source)

Bj FoggThe new edition of Ramit Sethi's book is smart, practical & FUNNY. Really. I laughed out loud about every other page. Great work, @ramit. https://t.co/WPUiZdsiM2 (Source)

Patrick Mckenzie@visakanv @Austen "Why not?" Because while there was interesting sociological work the book doesn't have a comparative advantage over Ramit's I Will Teach You To Be Rich for people working in the tech industry, and you *probably* have more interesting goals. (Source)

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60
The Five Rules for Successful Stock Investing

"By resisting both the popular tendency to use gimmicks that oversimplify securities analysis and the academic tendency to use jargon that obfuscates common sense, Pat Dorsey has written a substantial and useful book. His methodology is sound, his examples clear, and his approach timeless."
--Christopher C. Davis Portfolio Manager and Chairman, Davis Advisors

Over the years, people from around the world have turned to Morningstar for strong, independent, and reliable advice. The Five Rules for Successful Stock...
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61
Winning by not competing! This international best seller upends traditional thinking with principles and tools to make the competition irrelevant.
In an audiobook that challenges everything you thought you knew, W. Chan Kim and Renee Mauborgne assert that tomorrow's leading companies will succeed, not by battling their rivals for market share in the bloody "red ocean" of a shrinking profit pool, but by creating "blue oceans" of untapped new market spaces ripe for growth.

Based on a study of 150 strategic moves, spanning more than 100 years and 30 industries, they provide a...
more

Daymond JohnThere are the normal ones that everybody loves. There would be "Rich Dad Poor Dad," "Who Moved My Cheese?;" I love all the Dale Carnegie books; "The One Minute Manager." I love newer ones like "Blue Ocean Strategy" and all the "Freaknomics" books. (Source)

Ryan HolidayI don’t remember who originally told me to read Blue Ocean Strategy but I’m glad they did because this simple recommendation would substantially shape the course of my life and my career. (Source)

Santiago BasultoIt’s hard to pick a favorite business book, they all have a lot of insight spread among different publications. But if I’d need to choose one, it’d be The Blue Ocean Strategy. It completely changed my way of seeing business when I was just getting started. It’s filled with amazing stories and insights. (Source)

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62

The Little Book of Value Investing

There are many ways to make money in today's market, but the one strategy that has truly proven itself over the years is value investing. Now, with The Little Book of Value Investing, Christopher Browne shows you how to use this wealth-building strategy to successfully buy bargain stocks around the world. less

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63

Investing means different things to different people… and there is a huge difference between passive investing and becoming an active, engaged investor. Rich Dad’s Guide to Investing, one of the three core titles in the Rich Dad Series, covers the basic rules of investing, how to reduce your investment risk, how to convert your earned income into passive income… plus Rich Dad’s 10 Investor Controls.

The Rich Dad philosophy makes a key distinction between managing your money and growing it… and understanding key principles of investing is the first step toward creating and...
more
Recommended by Sean Si, and 1 others.

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64
"Once I picked it up I did not put it down until I finished . . .What Schwed has done is capture fully-in deceptively cleanlanguage-the lunacy at the heart of the investment business."-Fromthe Foreword by Michael Lewis, Bestselling author of Liar'sPoker

This hilarious portrait of everyday Wall Street and its denizensrings as true today as it did when it was first published in 1940.Writing with a rare mixture of wry cynicism and bonhomiereminiscent of Mark Twain and H. L. Mencken, Fred Schwed, Jr., skewers everyone including himself in his brilliant send-ups ofbankers, brokers,...
more
Recommended by Warren Buffett, Jason Zweig, and 2 others.

Warren BuffettThe funniest book ever written about investing, proclaimed in his 2006 shareholder letter, it lightly delivers many truly important messages on the subject. (Source)

Jason ZweigEven now, some 70 years later, this is still the funniest book ever written about Wall Street. (Source)

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65

The Elements of Investing

A timeless, easy-to-read guide on life-long investment principles that can help any investor succeed

The Elements of Investing has a single-minded goal: to teach the principles of investing in the same pared-to-bone manner that Professor William Strunk Jr. once taught composition to students at Harvard, using his classic little book, The Elements of Style. With great daring, Ellis and Malkiel imagined their own Little Red Schoolhouse course in investing for every investor around the world-and then penned this book.

The Elements of Investing...
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66
Peter Bevelin begins his fascinating book with Confucius' great wisdom: "A man who has committed a mistake and doesn't correct it, is committing another mistake." Seeking Wisdom is the result of Bevelin's learning about attaining wisdom. His quest for wisdom originated partly from making mistakes himself and observing those of others but also from the philosophy of super-investor and Berkshire Hathaway Vice Chairman Charles Munger. A man whose simplicity and clarity of thought was unequal to anything Bevelin had seen.

In addition to naturalist Charles Darwin and Munger, Bevelin...
more

Nassim Nicholas TalebA wonderful book on wisdom and decision-making written by a wise decision-maker. This is the kind of book you read first, then leave by your bedside and re-read a bit every day, so you can slowly soak up the wisdom. It is sort of Montaigne but applied to business, with a great investigation of the psychological dimension of decision-making. I like the book for many reasons --the main one is that... (Source)

Jason FriedFinally got to re-reading one of my favorite books: Seeking Wisdom, from Darwin to Munger. Highly recommended. (Source)

Derek SiversA great overview of the lessons of Charlie Munger (partner of Warren Buffett) - and his approach to checklists of multi-disciplinary models to guide clear thinking. (Source)

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67
Mutual-fund superstar Peter Lynch and author John Rothchild explain the basic principles of the stock market and business in an investing guide that will enlighten and entertain anyone who is high-school age or older.

Many investors, including some with substantial portfolios, have only the sketchiest idea of how the stock market works. The reason, say Lynch and Rothchild, is that the basics of investing—the fundamentals of our economic system and what they have to do with the stock market—aren’t taught in school. At a time when individuals have to make important decisions about...
more

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68
A timeless approach to investing wisely over an investment lifetime

With the current market maelstrom as a background, this timely guide describes just how to plan a lifetime of investing, in good times and bad, discussing stocks and bonds as well as the relationship between risk and return.

Filled with in-depth insights and practical advice, The Investor's Manifesto will help you understand the nuts and bolts of executing a lifetime investment plan, including: how to survive dealing with the investment industry, the practical meaning of market efficiency,...
more
Recommended by Burton Malkiel, and 1 others.

Burton MalkielFive Books aims to keep its book recommendations and interviews up to date. If you are the interviewee and would like to update your choice of books (or even just what you say about them) please email us at editor@fivebooks.com (Source)

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69
Based on author Sebastian Mallaby's unprecedented access to the industry, including three hundred hours of interviews, More Money Than God tells the inside story of hedge funds, from their origins in the 1960s and 1970s to their role in the financial crisis of 2007-2009.

Wealthy, powerful, and potentially dangerous, hedge fund moguls have become the It Boys of twenty-first ­century capitalism. Ken Griffin of Citadel started out trading convertible bonds from his dorm room at Harvard. Julian Robertson staffed his hedge fund with college athletes half his age, then he flew them to...
more
Recommended by Deepak Shenoy, and 1 others.

Deepak Shenoy@gauravsabnis @abhijitkadle @mohitsatyanand @tanayingale I fourth that recommendation. That is a brilliant book. (Source)

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70

Hedge Fund Market Wizards

Fascinating insights into the hedge fund traders who consistently outperform the markets, in their own words

From bestselling author, investment expert, and Wall Street theoretician Jack Schwager comes a behind-the-scenes look at the world of hedge funds, from fifteen traders who've consistently beaten the markets. Exploring what makes a great trader a great trader, "Hedge Fund Market Wizards" breaks new ground, giving readers rare insight into the trading philosophy and successful methods employed by some of the most profitable individuals in the hedge fund business.Presents...
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71
Will there ever be another investing book like this? It's unlikely.

University of Berkshire Hathaway is a remarkable retelling of the lessons, wisdom, and investment strategies handed down personally from Warren Buffett and Charlie Munger to shareholders during 30 years of their closed-door annual meetings.

From this front row seat, you'll see one of the greatest wealth-building records in history unfold, year by year.

If you're looking for dusty old investment theory, there are hundreds of other books waiting to cure you of insomnia. However, if...
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72
In the world of investing, the name Warren Buffett is synonymous with success and prosperity. Learn how Warren Buffett did it—and how you can too.

Building from the ground up, Buffett chose wisely and picked his stocks with care, in turn amassing the huge fortune for which he is now famous. Mary Buffett, former daughter-in-law of this legendary financial genius and a successful businesswoman in her own right, has teamed up with noted Buffettologist David Clark to create Buffettology, a one-of-a-kind investment guide that explains the winning strategies of the master.
...
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73
A detailed guide to overcoming the most frequently encountered psychological pitfalls of investing Bias, emotion, and overconfidence are just three of the many behavioral traits that can lead investors to lose money or achieve lower returns. Behavioral finance, which recognizes that there is a psychological element to all investor decision-making, can help you overcome this obstacle.

In The Little Book of Behavioral Investing, expert James Montier takes you through some of the most important behavioral challenges faced by investors. Montier reveals the most common...
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74
Douglas uncovers the underlying reasons for lack of consistency and helps traders overcome the ingrained mental habits that cost them money.  He takes on the myths of the market and exposes them one by one teaching traders to look beyond random outcomes, to understand the true realities of risk, and to be comfortable with the "probabilities" of market movement that governs all market speculation. less
Recommended by Luke Beller, and 1 others.

Luke Beller@Route2FI My favorite trading book is “Trading in the Zone” by Mark Douglas. It’s great for trading psychology. (Source)

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75

The Millionaire Real Estate Investor

Thoroughly researched with interviews and insights from more than 100 millionaire real estate investors who have struck it rich through Keller's concepts and practices, this book shows readers how to "think like a million." less

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76
Gregory Zuckerman, the bestselling author of The Greatest Trade Ever and The Frackers, answers the question investors have been asking for decades: How did Jim Simons do it?

Shortlisted for the Financial Times/McKinsey Business Book of the Year Award


Jim Simons is the greatest money maker in modern financial history. No other investor--Warren Buffett, Peter Lynch, Ray Dalio, Steve Cohen, or George Soros--can touch his record. Since 1988, Renaissance's signature Medallion fund has generated average annual returns of 66 percent. The firm...
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Abhishek Kar@Singh7575 ~The man who solved the market Nice book and interesting insights from Jim's life. Read it last month. Happy reading👍 (Source)

Andy SumI finished reading a book! Pretty interesting biography and background on some of the emotions involved in quantatative trading. Worth reading. https://t.co/doi843dcGN (Source)

Steve BurnsThe new book on Jim Simons is in my top 5 favorite trading books of all time ⭐️⭐️⭐️⭐️⭐️ It is already the #19 best seller in Amazon nonfiction The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution Kindle Edition by Gregory Zuckerman https://t.co/FAZFigNNXy https://t.co/Jjz38Qpdnu (Source)

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77
2009 reprint of the 1852 second edition. Two volumes bound into one. Charles Mackay (1814-1889) was a Scottish poet, journalist, and song writer. He was born in Perth, Scotland. His mother died shortly after his birth and his father was by turns a naval officer and a foot soldier. He was educated at the Caledonian Asylum, London, and at Brussels, but spent much of his early life in France. Coming to London in 1834, he engaged in journalism, working for the Morning Chronicle from 1835-1844 and then became Editor of The Glasgow Argus. He moved to the Illustrated London News in 1848 becoming... more

Jonah LehrerA wonderful eclectic history of mass human irrationality, and a great history of financial bubbles. (Source)

Tom Joseph"Do you know who I am"- Trump cries a/b his status, Iran & Obama are panic b4 his bubble pops Mania's will end in panic as noted in a favorite book: Extraordinary Popular Delusions & the Madness of Crowds by Charles Mackay. Not a plug-written in 1841 Trumpmania is now Trumpanic https://t.co/WnVGJ8Hung (Source)

John GapperIt’s a very patchy book, but it leads off with three classic financial booms and busts – tulip mania in Holland, the Mississippi scheme in 18th century France, and the South Sea Bubble. MacKay was a journalist with a fine tabloid style, and he writes it all up very entertainingly. He gets the eyewitness quotes and he finds the human foibles. (Source)

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78
"Business Adventures remains the best business book I've ever read." --Bill Gates, The Wall Street Journal

What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety; these notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.
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Warren BuffettIn 1991, Bill Gates asked Buffett for his favorite book. In reply, Buffett sent the Microsoft founder his personal copy of Business Adventures, a collection of New Yorker stories by John Brooks. (Source)

Bill GatesBrooks’s work is a great reminder that the rules for running a strong business and creating value haven’t changed. For one thing, there’s an essential human factor in every business endeavor. It doesn’t matter if you have a perfect product, production plan, and marketing pitch; you’ll still need the right people to lead and implement those plans. (Source)

Michael DellIn this 1960s classic, Brooks, a longtime New Yorker contributor, tells the stories of 12 notable companies and how they navigated the trials and tribulations of corporate life in America back in the day. (Source)

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79
Profit through good times and bad with a resilient, diversified portfolio

The Intelligent Asset Allocator has helped thousands of people like you build wealth through carefully diversified portfolios. Now, with global markets in constant flux, balancing risk and reward is more critical than ever.

Self-taught investor William Bernstein offers no gimmicks, inside secrets, or magic solutions--just the facts about investing and calm, smart advice on how to build and manage a portfolio designed for the long run. This is all you need, despite claims...
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80
Before I became “Phil Town, teacher of investing principles to more than 500,000 people a year,” I was a lot like you: someone who viewed individual stock investing as way too hard to do successfully. As a guy who barely made a living as a river guide, I considered the whole process pretty impenetrable, and I was convinced that to do it right you had to make it a full-time job. Me, I was more interested in having full-time fun.

So I was tempted to do what you’re probably doing right now: letting some mutual fund manager worry about growing your nest egg. Let me tell you why that...
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Recommended by Robert Hajnal, and 1 others.

Robert HajnalRobert Kiyosaki's “Rich Dad Poor Dad” stopped me from making a mistake and buying a car - because it wasn’t an asset. It also convinced me to invest in shares, while the books “Rule no.1” and “The Snowball” taught me how to choose them. (Source)

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Don't have time to read the top Investment books of all time? Read Shortform summaries.

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81
A revealing look at Wall Street, the financial media, and financial regulators by David Einhorn, the President of Greenlight CapitalCould 2008's credit crisis have been minimized or even avoided? In 2002, David Einhorn-one of the country's top investors-was asked at a charity investment conference to share his best investment advice. Short sell Allied Capital. At the time, Allied was a leader in the private financing industry. Einhorn claimed Allied was using questionable accounting practices to prop itself up. Sound familiar? At the time of the original version of "Fooling Some of the People... more

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82

Barbarians at the Gate

The Fall of RJR Nabisco

“One of the finest, most compelling accounts of what happened to corporate America and Wall Street in the 1980’s.”
New York Times Book Review



A #1 New York Times bestseller and arguably the best business narrative ever written, Barbarians at the Gate is the classic account of the fall of RJR Nabisco. An enduring masterpiece of investigative journalism by Bryan Burrough and John Helyar, it includes a new afterword by the authors that brings this remarkable story of greed and double-dealings up to date twenty years after the famed deal. The...
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Scott Kupor@JPHampstead @TimParksauthor Barbarians is a great book. Hope you enjoy mine! (Source)

Bogdan IordacheThere are quite a few good business books on technology, and I'll list below some I find to be a good starting point. Personally, I like biographies a lot and I mostly read biographies of dead people, because those are the most honest ones. So because the computer age is still very young, there won't be a lot of biographies in my list. (Source)

Bill LiaoThe human world occurs in language so best get good at it! (Source)

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83

The Interpretation of Financial Statements

The Classic 1937 Edition

"All investors, from beginners to old hands, should gain from the use of this guide, as I have."
From the Introduction by Michael F. Price, president, Franklin Mutual Advisors, Inc.
Benjamin Graham has been called the most important investment thinker of the twentieth century. As a master investor, pioneering stock analyst, and mentor to investment superstars, he has no peer.

The volume you hold in your hands is Graham's timeless guide to interpreting and understanding financial statements. It has long been out of print, but now joins Graham's other...
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Recommended by Preston Pysh, and 1 others.

Preston Pysh@Hom3Slice @stig_brodersen That’s a great little book, but it’s simply showing you the math behind each ratio. It doesn’t go any further than that. (Source)

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84
In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic. less
Recommended by Richard Dennis, Ed Seykota, and 2 others.

Richard DennisJack Schwager simply writes the best books about trading I've ever read. These interviews always give me a lot to think about. If you like learning about traders and trading, you'll find that reading this book is time well spent. (Source)

Ed SeykotaJack Schwager's deep knowledge of the markets and his extensive network of personal contacts throughout the industry have set him apart as the definitive market chronicler of our age. (Source)

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86
Reveals the proprietary framework used by an exclusive community of top money managers and value investors in their never-ending quest for untapped investment ideas Considered an indispensable source of cutting-edge research and ideas among the world's top investment firms and money managers, the journal The Manual of Ideas boasts a subscribers list that reads like a Who's Who of high finance. Written by that publication's managing editor and inspired by its mission to serve as an "idea funnel" for the world's top money managers, this book introduces you to a proven,... more

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87
Experienced readers of Warren Buffett's letters to the shareholders of Berkshire Hathaway Inc. have gained an enormously valuable informal education. The letters distill in plain words all the basic principles of sound business practices. less

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88
The legendary investor shows how to identify and master the cycles that govern the markets.

We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets and companies, but also human psychology and the investing behaviors that result.

If you study past cycles, understand...
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Warren BuffettWhen I see memos from Howard Marks in my mail, they’re the first thing I open and read. I always learn something, and that goes double for his book. (Source)

Charlie MungerI always say, ‘There’s no better teacher than history in determining the future.’ Howard’s book tells us how to learn from history . . . and thus get a better idea of what the future holds. (Source)

Ray DalioHoward Marks’s Mastering the Market Cycle is a must-read, because the cycles covered in this book are important and because Howard is one of the investing greats of his generation. (Source)

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89
Andrew Ross Sorkin delivers the first true behind-the-scenes, moment-by-moment account of how the greatest financial crisis since the Great Depression developed into a global tsunami. From inside the corner office at Lehman Brothers to secret meetings in South Korea, and the corridors of Washington, Too Big to Fail is the definitive story of the most powerful men and women in finance and politics grappling with success and failure, ego and greed, and, ultimately, the fate of the world’s economy.

“We’ve got to get some foam down on the runway!” a sleepless Timothy Geithner,...
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Bill Gates[On Bill Gates's reading list in 2011.] (Source)

Max Levchin[Max Levchin recommended this book as an answer to "What business books would you advise young entrepreneurs read?"] (Source)

John LanchesterThis is a minute-by-minute account of how the whole financial system nearly went over the brink in 2008, and the astonishing sense of tension and danger involved. (Source)

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90

A Man for All Markets

The incredible true story of the card-counting mathematics professor who taught the world how to beat the dealer and, as the first of the great quantitative investors, ushered in a revolution on Wall Street.

A child of the Great Depression, legendary mathematician Edward O. Thorp invented card counting, proving the seemingly impossible: that you could beat the dealer at the blackjack table. As a result he launched a gambling renaissance. His remarkable success--and mathematically unassailable method--caused such an uproar that casinos altered the rules of the game to thwart...
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91

What I Learned Losing a Million Dollars

Jim Paul's meteoric rise took him from a small town in Northern Kentucky to governor of the Chicago Mercantile Exchange, yet he lost it all—his fortune, his reputation, and his job—in one fatal attack of excessive economic hubris. In this honest, frank analysis, Paul and Brendan Moynihan revisit the events that led to Paul's disastrous decision and examine the psychological factors behind bad financial practices in several economic sectors.

This book—winner of a 2014 Axiom Business Book award gold medal—begins with the unbroken string of successes that helped Paul achieve a...
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Recommended by Ryan Holiday, and 1 others.

Ryan HolidayThere are lots of books on aspiring to something. Very little are from actual people who aspired, achieved, and lost it. With each and every successful move that he made, Jim Paul, who made it to Governor of the Chicago Mercantile Exchange, was convinced that he was special, different, and exempt from the rules. Once the markets turned against his trades, he lost it all — his fortune, job, and... (Source)

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92

The Wealth of Nations

In his book, Smith fervently extolled the simple yet enlightened notion that individuals are fully capable of setting and regulating prices for their own goods and services. He argued passionately in favor of free trade, yet stood up for the little guy. The Wealth of Nations provided the first--and still the most eloquent--integrated description of the workings of a market economy. less

Elon MuskAdam Smith FTW obv. (Source)

Barack ObamaObama, unsurprisingly, appears to be more drawn to stories sympathetic to the working classes than is McCain. Obama cites John Steinbeck’s “In Dubious Battle,” about a labor dispute; Robert Caro’s “Power Broker,” about Robert Moses; and Studs Terkel’s “Working.” But he also includes Adam Smith’s “Wealth of Nations” and “Theory of Moral Sentiments” on his list. (Source)

Neil deGrasse TysonWhich books should be read by every single intelligent person on planet? [...] The Wealth of Nations (Smith) [to learn that capitalism is an economy of greed, a force of nature unto itself]. If you read all of the above works you will glean profound insight into most of what has driven the history of the western world. (Source)

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93
A practical guide to making more informed investment decisions Investors often buy or sell stocks too quickly. When you base your purchase decisions on isolated facts and don't take the time to thoroughly understand the businesses you are buying, stock-price swings and third-party opinion can lead to costly investment mistakes. Your decision making at this point becomes dangerous because it is dominated by emotions. The Investment Checklist has been designed to help you develop an in-depth research process, from generating and researching investment ideas to assessing the... more

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94
Over 30,000 units sold of David Greene's first bestseller, Long-Distance Real Estate Investing!

Invest in real estate and never run out of money―using the hottest strategy in the real estate world!

For years, investors have built wealth through real estate the hard way: saving money slowly and sacrificing their current happiness for a future reward. While this method should produce results in the long run, what if there's a better, more efficient way? What if you can build a real estate empire in years instead of decades?

Buy, Rehab, Rent,...
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95

The Alchemy of Finance

New chapter by Soros on the secrets to his success along with a new Preface and Introduction.

New Foreword by renowned economist Paul Volcker

"An extraordinary . . . inside look into the decision-making process of the most successful money manager of our time. Fantastic."
--The Wall Street Journal

George Soros is unquestionably one of the most powerful and profitable investors in the world today. Dubbed by BusinessWeek as "the Man who Moves Markets," Soros made a fortune competing with the British pound and remains active today in the global...
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96
The economic climate is ripe for another golden age of shareholder activism

Deep Value: How Shareholder Activist Hedge Funds Battle for Control of The World's Leading Corporations is a must-read exploration of deep value investment strategy, describing the evolution of the theories of valuation and shareholder activism from Graham to Icahn and beyond. The book combines engaging anecdotes with industry research to illustrate the principles and methods of this complex strategy, and explains the reasoning behind seemingly incomprehensible activist maneuvers. Written by an active...

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97

Big Debt Crises

“Ray Dalio’s excellent study provides an innovative way of thinking about debt crises and the policy response.” - Ben Bernanke

“Ray Dalio’s book is must reading for anyone who aspires to prevent or manage through the next financial crisis.” - Larry Summers

“A terrific piece of work from one of the world’s top investors who has devoted his life to understanding markets and demonstrated that understanding by navigating the 2008 financial crisis well.” - Hank Paulson

“An outstanding history of financial crises, including the devastating...
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98
John J. Murphy has updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets.This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding... more
Recommended by Luke Beller, and 1 others.

Luke BellerIf you want to learn about technical analysis this is a great book. https://t.co/PxE5SOXtlY (Source)

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99

The Warren Buffett Portfolio

The Warren Buffett Way provided the first look into the strategies that the master uses to pick stocks. A New York Times bestseller, it is a valuable and practical primer on the principles behind the remarkable investment run of the famed oracle of Omaha. In this much-awaited companion to that book, author Robert Hagstrom takes the next logical step, revealing how to profitably manage stocks once you select them. THE WARREN BUFFETT PORTFOLIO will help you through the process of building a superior portfolio and managing the stocks going forward.

Building a concentrated portfolio...
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Recommended by Charles T. Munger, Charlie Munger, and 2 others.

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100

Investing

The Last Liberal Art

Recommended by Evarist Chahali, and 1 others.

Evarist ChahaliHagstrom's book on mental models confirms my view that inspiration on how to improve intelligence analysis is best found beyond the intelligence community. #Thread (Source)

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Don't have time to read the top Investment books of all time? Read Shortform summaries.

Shortform summaries help you learn 10x faster by:

  • Being comprehensive: you learn the most important points in the book
  • Cutting out the fluff: you focus your time on what's important to know
  • Interactive exercises: apply the book's ideas to your own life with our educators' guidance.