Investment and Finance Book Reviews
Essential Reading for Investors and Traders: Investment and Finance Book Reviews
If you are an active stock market trader an investor or just have an interest in economics and the markets there are several books that you should read to help understand the markets or just for a enlightening read.
Here are a few of my favourite investment and trading books and some of the classics that are essential reference material from the likes of Warren Buffett, George Soros, Benjamin Graham and Nassim Nicholas Taleb etc.
Finance and Investment book recommendations and reviews.
Classic Finance and Investment Books
A Random Walk Down Wall Street
A revised version of the classic guide to Wall Street which explains why fund managers so often lag behind Wall Street.
This book, by Burton G. Malkiel is absolutely essential reading for anyone hoping to work in Wall Street, The City or the financial services industry in general, but it also makes great bed-time reading for the rest of us too (well maybe not everyone's cup of tea, but if you are reading this, I would guess that you are interested in the workings of the finance industry) This book was originally written in 1973, but has been updated regularly to cover the many changes that have happened in the various markets since the first edition.
The emphasis of the book is summed up in the brilliant title: The market is random and a chimpanzee could beat a well paid fund-manager.
The Intelligent Investor (Benjamin Graham) - A Book of Practical Counsel
Written by the famous economist, Bemjamin Graham, an essential reference for value investors.
A book detailing years of accumulated wisdom from one of the all-time investment greats. Loss minimization is more important than profit maximization.
Graham's investment guide was first published in 1949 and described by Warren Buffett as "the best book on investing ever written"
Risk and Randomness
Fooled by Randomness - The Hidden Role of Chance in the Markets and in Life
This book by Nassim Nicholas Taleb looks at risk and reward in an interesting way and came before his highly successful book, "The Black Swan"
Nassim Nicholas Taleb was a professional trader and mathematics professor and, in this book, examines the effects of randomness on the markets, with many stories drawn from real life. An interesting alternative view of the mathematics of the money markets and life.
Black Swan: The Impact of the Highly Improbable - Another classic by Nassim Nicholas Taleb
If you liked "Fooled by Randomness", then you will also like this one. Here the influence of highly improbable and unpredictable events and the potentially massive impact on the world and the stock markets are examined. A continuation of the analysis started in "Fooled by Randomness"
The Essays of Warren Buffett - Lessons of Corporate America
By Warrent Buffett himself: Perhaps the most successful investor of all time and one of the richest people in the world after many decades of exceptional investment returns.
The Alchemy of Finance (George Soros)
How to take advantage of an asset bubble, by the master himself.
A detailed description of investment and trading methods employed by George Soros, one of the most powerful and profitable investors in the world (Called "The Man Who Moves Markets" by BusinessWeek) Soros famously bet against the British Pound and made a billion dollars.
Common Stocks and Uncommon Profits - By Philip A. Fisher
The classic book for buy and hold investors and growth investors.
Where Are The Customers' Yachts
A Good Hard Look At Wall Street
by Fred Schwed Jr.
Merryn Somerset Webb
Merryn Somerset Webb
Merryn Somerset Webb's "Love is Not Enough" (Subtitled "A Smart Woman's Guide to Making (& Keeping) Money") is an intelligent book about money: making it, saving and investing it and spending it sensibly. Useful advice for everyone, but with an emphasis on women's attitudes to money. Apparently even Kate Middleton (our future Queen?) Merryn Somerset Webb's book covers women's shopping compulsion to pensions, investments and pre-nups. She is an ex-stockbroker, financial journalist and edits the finance magazine Moneyweek, but she is also a mother.
Thinking Fast and Slow
by Daniel Kahneman
Nobel Prize in Economics 2002
Thinking Fast and Slow - by Daniel Kahneman
Thinking Fast and Slow looks at the way our minds work in all aspects of our lives, but in particular when dealing with the way we think when taking financial decisions: How we analyse risk and reward. The book explains the two systems that control how we think and make choices: One system is fast, intuitive and emotional and the other slower and more logical.
This book could change the way in which you make financial decisions for the better.
Daniel Kahneman was awarded the Nobel Prize in Economics in 2002 and is the Eugene Higgins Professor of Psychology at Princeton University and Emeritus Professor of Public Affairs at Woodrow Wilson School of Public and International Affairs.
Please tell me about any other book recommendations or your lenses about finance and investment.