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Five books an investor should read

Five books an investor should read

Media consumption in 2021 has reached unprecedented proportions. Social media allows you to stay in touch with friends, laugh, post a meme and, if necessary, argue about politics. Many even learn by looking at one or the other 30-second video.

 

However, if you want to learn about money and investing, it's worth remembering old habits and opening a book. But, which one to choose? There are hundreds, if not thousands, of investment books to choose from. Well, we will try to help you and narrow this list somewhat, based on the experience of practicing investors.

 

The Psychology of Money - Morgan Hausel

 

Through 19 stories, Hausel helps readers understand that money decisions and personal money management don't depend on how much you know, but on how you behave.

 

Technical Analysis of Financial Markets - John J. Smith Murphy

 

Murphy's book is seen as a versatile tool that includes everything a novice investor might need in terms of the philosophy of technical analysis, Dow theory, graphical models, indicators, volume, and more.

 

Principles - Ray Dalio

 

This book is a first-person account by one of the greatest investors and entrepreneurs of our time, Bridgewater Associates founder Ray Dalio. In it, he outlines the principles of his investment philosophy, which he developed throughout his 40-year career.

 

Vs. the Gods: The Taming of Risk - Peter Bernstein

 

This 1996 book came out in the midst of another long bull market period, culminating in the dot-coom bubble that burst a few years later. However, the general idea of the work is timeless: assessing probability and risk is (or should be) an integral part of any decision-making process. As a 1998 Washington Post review said, "This is a comprehensive story of man's attempts to understand risk and probability, from the ancient Greeks to modern chaos theory."

 

On the most important - Howard Marks

 

Next we chose the book that is less likely to be included in a variety of lists, but it is clearly worth reading. The book was written by Oaktree Capital chairman and co-founder Howard Marks. Like Buffett and Dalio, Marx became known for his client notes, which often touched on his investment philosophy and understanding.
The book dives deep into these and turns them into a series of essays on things like risk, opportunity, the opposite of investing, and so-called "second-level thinking."

 

Conclusion

 

Above, we have listed five books that are worth reading for every investor. Nevertheless, it should be understood that this list is far from exhaustive, because there are thousands of books on investing and we simply could not cover each of them. Learn, develop, read and you will definitely achieve success in investing and in any other business, no matter what you do.

22.10.2021
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