Whether you are looking to spend a holiday gift card or your New Year’s Resolution is to read more, there is rarely a better value in the world than a good book. The books below combine centuries worth of experience and knowledge that make for an extremely high return on investment.

 

book-listShort Reads For Beginners

The Elements of Investing: Easy Lessons for Every Investor by Burton Malkiel and Charles Ellis

These authors each penned one of “The Classics” below, but they join forces to provide one of my favorite short reads on investing and saving. Perfect for readers of all ages and experience levels.

The Little Book of Common Sense Investing by John Bogle

Jack Bogle, the father of the index fund, helped revolutionize investing. Bogle has written many books, but this relatively short one contains a lifetime of wisdom.

The Classics

A Random Walk Down Wall Street by Burton Malkiel

A must own for serious investors, Burton Malkiel explains the difficulty of predicting stock prices, but also focuses on aspects of investing at different stages of life.

Winning the Loser’s Game: Timeless Strategies for Successful Investing by Charles Ellis

This book is a classic and should be required reading for investors of all levels. With markets seemingly getting more unpredictable by the day, this book helps you avoid common traps and raise your probability for success.

My Favorites That Go Beyond The Basics

Thinking, Fast and Slow by Daniel Kahneman

Daniel Kahneman won the 2002 Nobel Prize in Economic Sciences for his work in behavioral finance. There are countless lessons applicable to investing, but this will also transform the way you think about choices we make in business and our personal lives.

The Success Equation: Untangling Skill And Luck in Business, Sports, and Investing by Michael Mauboussin

This book is a slam dunk for a sports fan, but extremely useful to all investors. We quickly attribute our successes to skill, but luck plays a far greater role than most people realize. Mauboussin provides framework for identifying skill versus luck and makes concrete suggestions for using this knowledge to your advantage.

Against the Gods: The Remarkable Story of Risk by Peter Bernstein

Peter Bernstein explores the history of money through the lens of financial risk, beginning in ancient times and into the modern world of portfolio theory. Bernstein does an excellent job explaining the underlying mathematics in simple terms, making this book very informative and relevant to practitioners.