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best investment books
Old 03-04-2007, 02:06 PM   #1
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best investment books

looking to educate myself and would like recommendations of top notch investment books that are not impossible to grasp yet not dumbed down either. if this has been covered ad nauseum please let me know.
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Re: best investment books
Old 03-04-2007, 02:13 PM   #2
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Re: best investment books

It isn't a book, but I think this is an excellent source of investment information:

Making Sense of Investing: A Guide to the Essentials

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Re: best investment books
Old 03-04-2007, 02:31 PM   #3
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Re: best investment books

Fundamentals of Corporate Finance by Brealey & Myers.
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Re: best investment books
Old 03-04-2007, 02:33 PM   #4
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Re: best investment books

From the link mentioned below
Quote:
Legendary value investor Benjamin Graham recommended holding no more than 75% stock and no less than 25%.
I highly reccomend his book "The Intelligent Investor"

http://www.amazon.com/Intelligent-In...3040585&sr=8-1

Second on my list would be "Reminiscences of a Stock Operator" http://www.amazon.com/Reminiscences-...3040359&sr=1-1
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Re: best investment books
Old 03-04-2007, 03:34 PM   #5
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Re: best investment books

Unconventional Success: A Fundamental Approach to Personal Investment (Hardcover)
by David F. Swensen
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Re: best investment books
Old 03-04-2007, 03:41 PM   #6
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Re: best investment books

1. The Boglehead's Guide to Investing

2. The Only Investment Guide You'll Ever Need

3. The Smartest Investment Book You'll Ever Read

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Re: best investment books
Old 03-04-2007, 04:27 PM   #7
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Re: best investment books

1. The Intelligent Asset Allocator (William Bernstein). Look at it in the store--if it is more technical than you'd like, look at "The Four Pillars of Investing" by the same author. Both are >>excellent<< books.
His web site is also superb. He's not adding to it every quarter anymore, but the stuff there is gold. Bernstein is a neurosurgeon who just picked this up as a hobby--makes me very humble.
Main web site: http://www.efficientfrontier.com/
Some key articles there:
"Retirement Calculator from Hell" series:
http://www.efficientfrontier.com/ef/998/hell.htm
]http://www.efficientfrontier.com/ef/101/hell101.htm]
http://www.efficientfrontier.com/ef/901/hell3.htm
http://www.efficientfrontier.com/ef/103/hell4.htm
http://www.efficientfrontier.com/ef/403/hell5.htm

Market Timing:
]http://www.efficientfrontier.com/ef/703/timer.htm]

Expected future asset class returns (US only, as of 2002)
http://www.efficientfrontier.com/ef/702/3FM-10.htm

2. Bogle on Mutual Funds (John Bogle)

3. A Random Walk on Wall Street (Malkiel)
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Re: best investment books
Old 03-04-2007, 04:39 PM   #8
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Re: best investment books

Quote:
Originally Posted by Running_Man
From the link mentioned below
I highly reccomend his book "The Intelligent Investor"

http://www.amazon.com/Intelligent-In...3040585&sr=8-1

Second on my list would be "Reminiscences of a Stock Operator" http://www.amazon.com/Reminiscences-...3040359&sr=1-1
thanks all. decided to start off with the intelligent investor. just ordered it. once i am done with that will look into the others.
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Re: best investment books
Old 03-04-2007, 05:06 PM   #9
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Re: best investment books

I will second Benjamin Graham's The Intelligent Investor. Get the edition with the commentary by Jason Zweig. This book is a classic and all about value stock investing. Mr Zweig's comments brings things up to current times. His comments are practically a classic in their own right. This is a must read for every stock investor.

The Four Pillars of Investing is also excellent. But it is not about individual stock investing.

I have done alot of individual stock investing. A book that helped me was Why Smart People Make Big Money Mistakes..... It discusses behavioral finance topics like loss aversion, anchoring, overconfidence, etc. This book helped me to book my losses when things did not go as planned (which is often) and saved me a ton of money in 2000-2002.

If you are going to invest in stocks, then an important trick is to use MSMoney or Quicken to keep accurate and factual records of how you are doing versus a benchmark. I found that I was doing about the same as the benchmark, but with alot more work, so I gave up. I think too many people remember all their winners and forget about their losers, so they just fool themselves into believing that they are good stock pickers.

So, newyorklady, I see from your posts that you are going to have a go at it. You also seem to have selected an expensive firm to handle some of your money. Let us know how it goes. Good luck!

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Re: best investment books
Old 03-04-2007, 05:40 PM   #10
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Re: best investment books

Let me offer thirds:

Since the 70's I think I've bought at least four versions of Intelligent Investor - 'THE BOOK' that gets borrowed and not returned. Three copies(actually I gifted them) - Bogle on Mutual Finds - since 1994.
My copy of Four Pillars went with Katrina.

heh heh heh - and I'm the guy who often says 'don't read books' - great theory but sometimes we 'slip' in practice.
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Re: best investment books
Old 03-04-2007, 06:53 PM   #11
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Re: best investment books

I agree with all the suggestions so far and want to add one more to the list... THE INFORMED INVESTOR by Frank Armstrong.
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Re: best investment books
Old 03-04-2007, 07:19 PM   #12
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Re: best investment books

Here is some more:

Why Smart People Make Big Money Mistakes & How to Correct Them

The Wall Street Journal Guide to Planning Your Financial Future

The Wealthy Barber

Richest man in Babylon

The Millionaire Next Door

The Intelligent Asset Allocator

Frank Armstrong's Investment Strategies

Consumer Reports Money Book

Rich Dad Poor Dad

Making the Most of Your Money by Jane Bryant Quinn

Mary Hunt's Debt Proof Living



Everyone's money book
Goodman, Jordan Elliot

How to retire early and live well on less than a million dollars

Bob Clyatt's "Live More, Work Less,"


Cashing in on the American dream : how to retire at 35

Get a life

Retire on less than you think : the New York times guide to planning your financial future

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Re: best investment books
Old 03-04-2007, 07:23 PM   #13
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Re: best investment books

I've read Your Money or Your Life, and also How to Retire Early & Live Well on Less than a Million Dollars. I currently have on order from Amazon dot com The Boglehead's Guide to Investing and also The Four Pillars of Investing. Saw those two in the bookstore the other day, but found them for much cheaper used from Amazon.
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Re: best investment books
Old 03-05-2007, 09:07 AM   #14
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Re: best investment books

Quote:
Originally Posted by LOL!

So, newyorklady, I see from your posts that you are going to have a go at it. You also seem to have selected an expensive firm to handle some of your money. Let us know how it goes. Good luck!

I picked a very large firm but that doesn't make it expensive. got reduced rate as i have a nice sized portfolio, circle of friends, etc. my financial consultant is actually very wealthy himself and just enjoys his job. yes, there is a fee but i am rather shocked that this is picked on so much here on this forum and asked what is is, and when i don't respond brought up. it seems as if you don't just invest your money in index funds you get slammed. my portfolio is millions of dollars and if i get worried and freak out about the market and i don't have a financial consultant to talk me out of things, i may end up as the idiot who tries to time the market unsuccessfully. plus my fc has a track record of doing substantially better than the market, have had friends who have used him for fifteen years, so I dont think that a fee is a major issue here. trust me, i know how fees from a fc can eat up performance, used a bad fc in the past. but my friends have been so happy with this one and he shielded me from some heavy losses last week, so willing to give it a shot. and this rant wasn't directed at you in particular, really just confused as to this forum's seemingly irrational promotion of index funds. i understand that mutual funds don't always have great long term track records, but i think they need to be individually researched, both their holdings and management to evaluate if the fee structure pays off or not. if a whole group of people are telling me one thing, i am not going to ignore it. i will definitely read up on why the indexers have these opinions but i think that there is not always one correct way to do things. especially now, as i am so confused by the market in general.
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Re: best investment books
Old 03-05-2007, 09:31 AM   #15
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Re: best investment books

For an excellent list of investment books, go to www.diehardsforum.org, click on Reference Library....Books.
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Re: best investment books
Old 03-05-2007, 09:33 AM   #16
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Re: best investment books

Quote:
Originally Posted by newyorklady
I picked a very large firm but that doesn't make it expensive. got reduced rate as i have a nice sized portfolio, circle of friends, etc. my financial consultant is actually very wealthy himself and just enjoys his job. yes, there is a fee but i am rather shocked that this is picked on so much here on this forum and asked what is is, and when i don't respond brought up. it seems as if you don't just invest your money in index funds you get slammed. my portfolio is millions of dollars and if i get worried and freak out about the market and i don't have a financial consultant to talk me out of things, i may end up as the idiot who tries to time the market unsuccessfully. plus my fc has a track record of doing substantially better than the market, have had friends who have used him for fifteen years, so I dont think that a fee is a major issue here. trust me, i know how fees from a fc can eat up performance, used a bad fc in the past. but my friends have been so happy with this one and he shielded me from some heavy losses last week, so willing to give it a shot. and this rant wasn't directed at you in particular, really just confused as to this forum's seemingly irrational promotion of index funds. i understand that mutual funds don't always have great long term track records, but i think they need to be individually researched, both their holdings and management to evaluate if the fee structure pays off or not. if a whole group of people are telling me one thing, i am not going to ignore it. i will definitely read up on why the indexers have these opinions but i think that there is not always one correct way to do things. especially now, as i am so confused by the market in general.
Well, this IS the DIY (do-it-yourself) forum......... As an advisor, I apreciate the fact that you believe your advisor brings value.......... Fact is, outside of this forum, MOST folks that have several million dollars or more use advisors.

As an advisor, I plan on having an advisor manage MY portfolio when I retire............ As "silly" as that sounds, I got better things to do than managing my portfolio in retirement............
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Re: best investment books
Old 03-05-2007, 11:55 AM   #17
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Re: best investment books

Quote:
Originally Posted by newyorklady
I picked a very large firm but that doesn't make it expensive. got reduced rate as ....
.... if a whole group of people are telling me one thing, i am not going to ignore it. i will definitely read up on why the indexers have these opinions but i think that there is not always one correct way to do things. especially now, as i am so confused by the market in general.
nyl, I am not bothered at all by your choices nor by your response. But if I may be so bold, I'd just like to see periodic updates to see how you are doing. When people ask about selecting a financial advisor, I find it is very difficult to offer advice on how to find a good one based on my own past search for one. So if you have one that you like and who does very well for you, then it might be useful to relate your track record when you have more experience with them. OTOH, if you don't want to divulge anything, that's OK, too. Thanks!
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Re: best investment books
Old 03-05-2007, 12:38 PM   #18
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Re: best investment books

yes but if i am off of this site for awhile it just means that i am finally taking that vacation i have been planning on forever. will definitely keep you updated though.

and fyi i picked my fiancial advisor by:

1. recommendation of a friend
2. at reputable named firm (would get a little scared with some no name place)
3. comparing his track record with that of the market. and also taking his results v. some other financial consultants taking into consideration the level of volatility that i am willing to handle.
4. gut feeling
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Re: best investment books
Old 03-05-2007, 02:31 PM   #19
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Re: best investment books

Just finished The Only Three Questions That Count by Ken Fisher. Thought it was very good.
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