There are thousands of books written on investing. Some will make you think, some will keep you grounded, and some will put you to sleep. Here are some of my favorites. We'll add to this list as time goes by.
Unconventional Success: A Fundamental Approach to Personal Investment
Author: David Swensen (2005)
Comments: Steadyhand's bible. A U.S. perspective, but Swensen's principles apply in any geography.
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Straight Talk on Investing: What You Need to Know
Author: Jack Brennan (2002)
Comments: A U.S. book, but a good read on the basics of investing and mutual funds. Written by the Chairman and CEO of The Vanguard Group.
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Why Smart People Make Big Money Mistakes
Author: Gary Belsky (1999)
Comments: A fun introduction to the field of behavioral finance. It's written for the individual investor with lots of everyday examples to engage the reader. We should all read it once a year.
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The Essays of Warren Buffett: Lessons for Corporate America
Author: Lawrence Cunningham (2001)
Comments: If you're not a Buffett devotee and and haven't read all his annual reports, this compilation is an excellent way to gain from his wisdom.
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Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger
Editor: Peter Kauffman (2005)
Comments: A compilation of wisdom from Warren Buffet's sidekick. It's a huge book that extends beyond the topic of investing and has lots of repetition in it. But it is full of great pearls to keep us all well grounded.
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Fooled by Randomness
Author: Nassim Taleb (2001)
Comments:
A more advanced book that challenges the way we think about investing.
Taleb is quite an arrogant fellow. People either love this book or hate
it. I love it.
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When Genius Failed: The Rise and Fall of Long-Term Capital Management
Author: Roger Lowenstein (2001)
Comments: The story behind the infamous bailout of Long-Term Capital Management, the largest failed hedge fund to date. While it's a few years old, it provides an inside look at the hedge fund world. Lowenstein is easy to read; to me, it read like fiction.
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Buffett: The Making of an American Capitalist
Author: Roger Lowenstein (1995)
Comments: An effortless read. The intellect and discipline that Buffett demonstrated at a young age helped me put his Berkshire Hathaway accomplishments in perspective.