Here are 10 classics and five new books that will put you on the right path to making great investments.
The Great Reflation: How Investors Can Profit From the New World of Money
By J. Anthony Boeckh; John Wiley & Sons, 2010, $34.95.
The Great Reflation looks at the lasting effects of the recent housing and credit bubbles, and gives advice on how to capitalize in today's shifting financial world.
Common Sense on Mutual Funds, 10th Anniversary Edition
By John Bogle; John Wiley & Sons, originally published 1999, $29.95.
Common Sense on Mutual Funds is a critical look at the complex world of mutual funds, through the eyes of one of the masters, Vanguard founder and godfather of index investing John Bogle.
The Essays of Warren Buffett: Lessons for Corporate America
By Warren Buffett; The Cunningham Group, originally published 2001, $32.50.
This collection of letters written by Warren Buffett to shareholders in Berkshire Hathaway lays out the legendary investor's ideas on business, law, and (of course) making money in the market.
Profiting from the World's Economic Crisis: Finding Investment Opportunities by Tracking Global Market Trends
By Bud Conrad; John Wiley & Sons, 2010, $27.95.
Analyzing the uncertain--and ever-changing--financial world of 2010, Bud Conrad uses government action and global market trends to predict the long-term direction of the U.S. economy.
Common Stocks & Uncommon Profits
By Philip Fisher; John Wiley & Sons, originally published 1958, $21.95.
This book outlines the philosophies held by Philip Fisher, an influential and oft-quoted investor. Warren Buffett said that this book "enables one to make intelligent investment commitments."
The Intelligent Investor
By Ben Graham; Harper Paperback, originally published 1949, $21.99.
Many regard this book as one of the best books ever written about investing. In it the esteemed Ben Graham lays out his case for value investing.
The Little Book That Still Beats The Market
By Joel Greenblatt; John Wiley & Sons, originally published 2005, $19.95.
Originally published in 2005, this updated book discusses strategies for buying into good businesses at bargain prices. It is already considered by many to be a classic investing book.
Reminiscences of a Stock Operator
By Edwin Lefevr; John Wiley & Sons, originally published 1923, $21.95.
The oldest book on our list,
Reminiscences of a Stock Operator tells the story of a trader who made his way from small brokerages in New England to the big time on Wall Street. Despite being almost 90 years old, the book remains relevant to modern investors.
A Random Walk Down Wall Street
By Burton Malkiel; W.W. Norton & Company, originally published 1973, $29.95.
Malkiel's book applies the mathematical idea of "random walk" to the stock market. He concludes that most investors are best served by passively investing rather than trying to outperform the market.
Competitive Strategy
By Michael Porter; Free Press, originally published 1998, $40.
Competitive Strategy is a business-oriented book that discusses how companies rise to the top in intra-industry competition via strategic positioning and innovation. As the aphorism goes, the better you are at business, the better you are at investing--this book will help you in both.
The Warren Buffetts Next Door: The World's Greatest Investors You've Never Heard Of and What You Can Learn From Them
By Matthew Schifrin; John Wiley & Sons, 2010, $29.95.
Forbes Investing Editor Matt Schifrin writes about everyday people, from retired disc jockeys to truck drivers, who have outstanding investment records and, in some cases, made millions. Their life stories and investment strategies are explored.
Market Wizards: Interviews With Top Traders
By Jack D. Schwager; HarperBusiness, originally published 1989, $17.
In
Market Wizards Jack Schwager sits down and talks with top traders who have seen great returns on the market floor. Their insights cover stocks, futures, currencies and even the psychology of trading.
The Age of Deleveraging: Investment Strategies for a Decade of Slow Growth and Deflation
By A. Gary Shilling; John Wiley & Sons, 2010, $39.95.
A. Gary Shilling predicts deflation and slow growth in the coming years. Accordingly, he picks out industries that will thrive and sectors that will bust; his insight is necessary for anyone interested in asset allocation and exchange-traded funds.
Fooled By Randomness: The Hidden Role of Chance in Life and in the Markets
By Nassim Taleb; W.W. Norton & Co., originally published 2001, $17.50.
Nassim Taleb, best known for his 2007 book
The Black Swan, wrote
Fooled By Randomness to underline the omnipresence of random events and the frequency with which we try to explain chance using logic. It's a sobering look at investing, and good counterbalance to the get-rich-quick mentality.
The Billion Dollar Mistake: Learning the Art of Investing Through the Missteps of Legendary Investors
By Stephen Weiss; John Wiley & Sons, 2010, $29.95.
Sometimes it's easiest to learn from the errors of others. Stephen Weiss tells the story of eleven mistakes that ended up costing a billion dollars or more--mistakes we'd all prefer not to replicate.
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