Investing: Library
- personal995
- May 20, 2024
- 8 min read
Updated: Dec 9, 2025
Index
Purpose
Investing: Library is a section of Investing.
This page and section exists to provide a curated reading list for learning more about Investing.
“In my whole life, I have known no wise people (over a broad subject matter area) who didn’t read all the time—none. Zero."
Charlie Munger
Introduction
If we have referenced, or found a book, text or article to be foundational and useful, it will be listed throughout this section and also categorised for your reference below.
For your efficiency, the library provides a brief on why each book is included and why and for who it may prove to be of interest or useful.
Berkshire Hathaway Letters to Shareholders
by Warren Buffett
Overview: Warren Buffett's Letters to Shareholders is a collection of insightful and candid letters written by Warren Buffett to the shareholders of Berkshire Hathaway, offering a unique look into his investment philosophy and business strategies.
Key points: Buffett discusses a wide range of topics, including his principles of value investing, the importance of long-term thinking, the role of management, and the intricacies of the stock market. He also shares lessons learned from his investment decisions, his thoughts on economic trends, and his approach to corporate governance.
Interest: The letters are essential for investors, business students, and anyone interested in understanding the mindset of one of the world's most successful investors. Buffett's clear and often humorous writing style makes complex financial concepts accessible, providing readers with valuable insights into building wealth, making informed investment decisions, and understanding the broader economic landscape.
Security Analysis, Seventh Edition
by Benjamin Graham, David Dodd and Seth A. Klarman
Overview: Security Analysis, Seventh Edition by Benjamin Graham, David Dodd, and Seth A. Klarman is a foundational text on value investing, providing in-depth methodologies for analyzing and valuing securities.
Key points: The book delves into the principles of value investing, offering detailed techniques for evaluating stocks, bonds, and other investment opportunities based on fundamental analysis. It emphasizes the importance of a margin of safety, thorough research, and disciplined investment strategies.
Interest: This book is essential for serious investors, finance students, and professionals looking to deepen their understanding of security analysis. The insights from Graham and Dodd, complemented by Klarman's contemporary perspective, make it a comprehensive guide to making informed and prudent investment decisions in various market conditions.
The Intelligent Investor
by Benjamin Graham
Overview: The Intelligent Investor by Benjamin Graham is a seminal work on value investing, offering practical advice and principles for making wise investment decisions.
Key points: Graham outlines his philosophy of value investing, emphasizing the importance of thorough analysis, a long-term perspective, and maintaining a margin of safety. He introduces concepts such as "Mr. Market" to illustrate the irrationality of the market and provides strategies for both defensive and enterprising investors.
Interest: This book is essential for anyone interested in investing, from beginners to experienced investors. Graham's timeless principles offer a solid foundation for understanding market behavior and developing sound investment strategies, making "The Intelligent Investor" a must-read for achieving long-term financial success.
Common Stocks and Uncommon Profits
by Philip A. Fisher
Overview: Common Stocks and Uncommon Profits by Philip A. Fisher is a classic investment book that provides a deep dive into the qualitative aspects of selecting growth stocks.
Key points: Fisher emphasizes the importance of thorough research and analysis, focusing on understanding a company's management, competitive advantages, and growth potential. He introduces the "scuttlebutt" method, advocating for gathering insights from various sources to make informed investment decisions.
Interest: This book is essential for investors looking to complement quantitative analysis with qualitative insights. Fisher's approach to understanding the qualitative aspects of a business offers valuable lessons for identifying companies with strong growth prospects and achieving long-term investment success.
The Most Important Thing
by Howard Marks
Overview: The Most Important Thing by Howard Marks is a profound guide on investing, offering insights into risk management, market cycles, and decision-making.
Key points: Marks emphasizes the importance of understanding and managing risk, recognizing market cycles, and maintaining a disciplined investment approach. He shares his thoughts on contrarian thinking, second-level thinking, and the value of patience and resilience in investing.
Interest: This book is essential for investors seeking to deepen their understanding of market dynamics and improve their investment strategies. Marks' wisdom, drawn from decades of experience, provides valuable perspectives on achieving long-term investment success by focusing on the principles that truly matter.
Where Are the Customers' Yachts?
by Fred Schwed Jr.
Overview: Where Are the Customers' Yachts? by Fred Schwed Jr. is a witty and critical examination of Wall Street and the investing industry, highlighting the often self-serving nature of financial advisors and brokers.
Key points: Schwed uses humor and anecdotes to illustrate the disparity between the wealth of financial professionals and their clients, questioning the value and integrity of their advice. He critiques the frequent misalignment of interests between financial institutions and investors, emphasizing skepticism and self-education for individuals managing their own investments.
Interest: This book is essential for anyone interested in the financial industry, from novice investors to seasoned professionals. Schwed's entertaining yet insightful observations encourage readers to approach investing with caution and critical thinking, making it a timeless read on the pitfalls and paradoxes of Wall Street.
The General Theory of Employment, Interest, and Money
by John Maynard Keynes
Overview: The General Theory of Employment, Interest, and Money by John Maynard Keynes is a groundbreaking work that laid the foundation for modern macroeconomics, offering new insights into economic theory and policy.
Key points: Keynes challenges classical economics by introducing the concept of aggregate demand as the primary driver of economic activity. He argues that government intervention is necessary to manage economic cycles, advocating for fiscal and monetary policies to mitigate unemployment and stimulate growth during downturns.
Interest: This book is essential for economists, policymakers, and students of economics. Keynes' revolutionary ideas have profoundly influenced economic thought and policy, making "The General Theory of Employment, Interest, and Money" a cornerstone text for understanding macroeconomic theory and the role of government in the economy.
Thinking, Fast and Slow
by Daniel Kahneman
Overview: Thinking, Fast and Slow by Daniel Kahneman is a comprehensive exploration of human decision-making, highlighting the cognitive biases and heuristics that influence our judgments.
Key points: Kahneman distinguishes between two modes of thinking: System 1, which is fast, intuitive, and automatic, and System 2, which is slow, deliberate, and analytical. He explains how these systems interact and how biases such as overconfidence, anchoring, and loss aversion can lead to flawed decisions.
Interest: This book is essential for anyone interested in psychology, economics, and decision-making. Kahneman's insights into the workings of the human mind offer valuable lessons for improving decision-making processes, understanding human behavior, and recognizing the limitations of intuition.
Fooled by Randomness
by Nassim Nicholas Taleb
Overview: Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets by Nassim Nicholas Taleb explores the profound impact of randomness and luck on our lives and financial markets, challenging the assumption that success is solely due to skill and intelligence.
Key points: Taleb argues that humans are prone to underestimating the role of randomness in success and failure, leading to overconfidence and flawed decision-making. He examines how randomness affects various aspects of life, including business and investing, and emphasizes the importance of humility and risk management.
Interest: This book is essential for investors, traders, and anyone interested in understanding the influence of chance on outcomes. Taleb's thought-provoking analysis encourages readers to recognize the limits of knowledge and the unpredictability of the world, fostering a more cautious and skeptical approach to interpreting success and making decisions.
The Black Swan
by Nassim Nicholas Taleb
Overview: The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb examines the profound impact of rare and unpredictable events, which he calls "Black Swans," on our world.
Key points: Taleb argues that Black Swan events, though rare, have massive consequences and are often underestimated or ignored by traditional risk management practices. He emphasizes the limitations of predictive models and the importance of building resilience to handle the unknown.
Interest: This book is essential for investors, policymakers, and anyone interested in risk management and decision-making. Taleb's insights challenge conventional wisdom and encourage a new perspective on uncertainty and the role of rare events, making it a crucial read for understanding and navigating a complex, unpredictable world.
Am I Being Too Subtle?
by Sam Zell
Overview: Am I Being Too Subtle? by Sam Zell is an autobiography and business memoir of the billionaire real estate investor, sharing his unconventional approach to entrepreneurship and investing.
Key points: Zell details his career journey, emphasizing his contrarian investment strategies, risk-taking mentality, and the importance of adaptability and resilience in business. He provides insights into his major deals, his philosophy on leadership, and the principles that guided his success.
Interest: This book is essential for entrepreneurs, investors, and business professionals seeking inspiration and practical wisdom from a highly successful and unconventional business leader. Zell's candid storytelling and unique perspective offer valuable lessons on entrepreneurship, investing, and achieving success through bold and creative thinking.
The Little Book of Common Sense Investing
by John C. Bogle
Overview: The Little Book of Common Sense Investing by John C. Bogle is a concise guide that advocates for a straightforward, low-cost approach to investing, primarily through index funds.
Key points: Bogle emphasizes the benefits of investing in broad-based index funds, highlighting their lower costs, reduced risks, and superior long-term performance compared to actively managed funds. He argues that by minimizing expenses and holding investments for the long term, investors can achieve better financial outcomes.
Interest: This book is essential for individual investors, financial advisors, and anyone interested in personal finance. Bogle's practical advice and clear explanations make it an accessible and compelling read for those looking to build a solid, long-term investment strategy rooted in common sense and simplicity.
Poor Charlie's Almanack
by Charles T. Munger
Overview: Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger is a comprehensive collection of speeches, lectures, and essays by Charles T. Munger, providing insights into his investment philosophy and life principles.
Key points: Munger emphasizes the importance of multidisciplinary thinking, mental models, and rigorous analysis in making sound investment decisions. He advocates for rationality, patience, and continuous learning, sharing his unique perspective on business, economics, and life.
Interest: This book is essential for investors, business professionals, and anyone seeking wisdom from one of the most respected thinkers in finance. Munger's practical advice, intellectual rigor, and humorous anecdotes offer valuable lessons on achieving success and leading a thoughtful, informed life.
The House of Rothschild (Books I & II)
by Niall Ferguson
Overview: The House of Rothschild (Books I & II) by Niall Ferguson is an in-depth historical analysis of the Rothschild banking dynasty, covering its rise to prominence and its influence on global finance and politics.
Key points: Ferguson traces the origins and expansion of the Rothschild family from the late 18th century through the 19th century, examining their innovative banking practices, vast network, and strategic marriages. He highlights their role in financing governments, influencing major historical events, and shaping the financial landscape of Europe and beyond.
Interest: This book is essential for historians, economists, and anyone interested in the history of banking and finance. Ferguson's meticulous research and engaging narrative provide a comprehensive look at how the Rothschilds became one of the most powerful and influential families in history, offering insights into the interplay between finance and politics.
By reading the texts above you absorb over time the many wise, experienced and learned humans have come before us. There is no need to re live all their lessons ourselves. Take what they have learnt, their accumulated years of wisdom and efficiently use it to leverage the quality of your life and work.
Output Checklist
Completed Strategic Review Worksheet from The Workbook for approaching any Investing related opportunities or challenges, guided by all key learnings from this section.
Next Steps
If you feel you have key learnings to takeaway, return to Investing: Main to integrate into your Output Checklist.
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