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Old 09-28-2018, 11:31 AM   #1
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Starter books

I'd like to read "beginner" books on investing. I know I've seen people recommend books for beginner investors but I can't find any now. Any suggestions?

Thanks.
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Old 09-28-2018, 12:11 PM   #2
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  • First: The Coffeehouse Investor by Bill Schultheis
  • Whatever Jack Bogel's latest book is.
  • Winning the Loser's Game by Charles Ellis
  • A Random Walk Down Wall Street by Burton Malkiel (Make sure you get the latest edition.)
  • Your Money and Your Brain by Jason Zweig
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Old 09-28-2018, 12:26 PM   #3
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I also recommend A Random Walk down Wall Street. Not a how-to book, but a very good description of how the finance markets and investing industry work.

Another book: Boglehead Guide to Investing.
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Old 09-28-2018, 12:31 PM   #4
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I recommend If You Can, by William Bernstein. You can get a free pdf copy here, https://www.etf.com/docs/IfYouCan.pdf

The book was aimed at a young audience, but I think it can work for everyone.
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Old 09-28-2018, 12:35 PM   #5
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I've bought and given away a few copies of this one.

Millionaire Teacher: The Nine Rules of Wealth You Should Have Learned in School
https://www.amazon.ca/Millionaire-Te.../dp/0470830069
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Old 09-28-2018, 12:46 PM   #6
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When I was beginning, I chose 4 books off this list and read each of them at least twice:

https://www.bogleheads.org/readbooks.htm

That worked for me. I think this is a superb book list, and I'd recommend choosing any books on that list that sound interesting.
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Old 09-28-2018, 02:20 PM   #7
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This is my "go to" list when someone asks me this question. Some have already been suggested:

The books I found most helpful are these:

The Millionaire Teacher by Andrew Hallam

How a Second Grader Beats Wall Street by Allan S. Roth

If you don’t read anything else read these two. They are easy reading.

I also have read these:

Predictably Irrational by Dan Ariely – I found this very interesting! For example, people will almost always say that coffee served from a silver service into fine china cups tastes better than coffee served from a glass pot into a styrofoam cup even though the coffee was brewed in the same pot!

The Millionaire Next Door by Thomas J. Stanley and William D. Danko. This is a classic and although the numbers are somewhat dated the principles most definitely are not.

The Four Pillars of Investing by William J. Bernstein

Why Smart People Make Big Money Mistakes by Gary Belsky & Thomas Gilovich

Your Money & Your Brain by Jason Zweig

The Investor’s Manifesto - Preparing for Prosperity, Armageddon, and Everything in Between by William J. Bernstein

A Random Walk Down Wall Street by Burton G. Malkiel – Updated frequently, this is a classic and a must-read

And if you really want to get deep into behavior issues with money – Thinking, Fast and Slow by Daniel Kahneman, the only psychologist to win a Nobel Prize in Economics. I found it fascinating. It’s also a rather thick book. It is less about money than it is about why people make decisions the way they do.
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Old 09-28-2018, 02:21 PM   #8
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Thank you!

I'm starting with If You Can (because it's FREE!), The New Coffee House Investor, and A Random Walk Down Wall Street. Then Millionaire Next Door and The Four Pillars of Investing.
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Old 09-28-2018, 02:23 PM   #9
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Quote:
Originally Posted by W2R View Post
When I was beginning, I chose 4 books off this list and read each of them at least twice:

https://www.bogleheads.org/readbooks.htm

That worked for me. I think this is a superb book list, and I'd recommend choosing any books on that list that sound interesting.
This ^ was the best list I knew of, but there's an update with more current choices along with the "classics?"

https://www.bogleheads.org/wiki/Book...ns_and_reviews
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Old 09-28-2018, 02:52 PM   #10
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I've given my college age son this one:

The Simple Path to Wealth by J. L. Collins

https://www.amazon.com/Simple-Path-W...y+j.l.+collins


Read the blog, loved the advice, so passed it on.
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Old 09-28-2018, 04:18 PM   #11
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... I'm starting with If You Can (because it's FREE!), The New Coffee House Investor, and A Random Walk Down Wall Street. Then Millionaire Next Door and The Four Pillars of Investing.
Excellent plan.

If/when you want to branch out a little more into how we behave and why, the already mentioned Daniel Kahneman's Thinking Fast and Slow is excellent. Prior to that one, though, I'd suggest Richard Thaler's Misbehaving. Kahneman and Thaler are colleagues and both are Nobel prize winners. Despite those lofty awards, both of the books are highly readable.

Branching further still, the chapter on economic forecasting in Nate Silver's the signal and the noise should be required reading for investors, but the whole book is a revelation to read.
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Old 09-28-2018, 04:27 PM   #12
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The Four Pillars of Investing by William J. Bernstein
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Old 09-28-2018, 04:36 PM   #13
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Thank you!

I'm starting with If You Can (because it's FREE!), The New Coffee House Investor, and A Random Walk Down Wall Street. Then Millionaire Next Door and The Four Pillars of Investing.
They're pretty much all free if you get them out of the library.
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Old 09-28-2018, 04:46 PM   #14
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https://www.investforfire.com/articles

this is an Australian blogger so you will have to adapt it a little to suit your own homeland

( must investing books focus on the US so i have had to shift out the useful bits )
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Old 09-28-2018, 05:07 PM   #15
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Books I have read/skimmed. I happen to be going through these, in order to come up with a good first book for younger people, about 30.

IMO, I think the first book should be a careful pick, and directly aimed at the individual. If they take your book and get bored, it will not stimulate much creative thought, and you won't get a 'Win'.

#1 - Enough, John Bogle
https://books.google.com/books?id=GZ...page&q&f=false

#2 - The Little Book That Still Saves Your Assets, David M. Darst
https://books.google.com/books/about...page&q&f=false

#3 - The Index Revolution, Charles D. Ellis
https://books.google.com/books?id=F6...lution&f=false

#4 - The Only Investment Guide You'll Ever Need, Andrew Tobias
https://books.google.com/books?id=YB...page&q&f=false

#5 - The Little Book of Common Sense Investing, John C. Bogle
https://books.google.com/books?id=Vr...esting&f=false

#6 - Your Money & Your Brain, Jason Zweig
https://books.google.com/books?id=gR...0Brain&f=false

#7 - The Intelligent Asset Allocator, William Bernstein
https://books.google.com/books?id=S2...ocator&f=false
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Old 09-28-2018, 05:52 PM   #16
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The Four Pillars of Investing by William J. Bernstein
That was my favorite book on investing, curious that Dr Bernstein no longer seems to agree with it...
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Old 09-28-2018, 06:08 PM   #17
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I started 20 yrs ago when my prior boss gave me The Wealthy Barber. Put me on the right path.
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Old 09-28-2018, 08:28 PM   #18
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This blog is an easy read, written in a lighthearted style.

https://jlcollinsnh.com/stock-series/
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Old 09-29-2018, 08:24 AM   #19
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I started 20 yrs ago when my prior boss gave me The Wealthy Barber. Put me on the right path.
Me too. It is a good book for starters and helped me 25 years ago.

The only thing I wish it had added was how easy and efficient it is to invest with Vanguard index funds.
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Old 09-29-2018, 01:12 PM   #20
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Interesting that no one has mentioned "Your Money or Your Life." It is *not* the best book for investing, but it is a great understanding of what money is, how to use it effectively in your life to match your values and adheres to a LYBM philosophy. To me it is important to understand those concepts and then start to invest wisely as the other resources listed in this thread and the various links are then ways in which to have your money work for your wisely and efficiently.
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