Resources
Getting rich is extremely difficult without some investing. It has been estimated that millionaires invest 20 percent of their income every year. Warren Buffet is a legendary investor that recommends some books to help you get started investing so you can take control of your financial situation. While reading a book does not guarantee you will get rich, it will help you learn where to get started.
The Intelligent Investor by Benjamin Graham
This book is cited by several well-known billionaires and millionaires, as well as Wall Street power players. The information is valuable for even those not directly connected to the finance industry.
The Little Book of Common Sense Investing by John Bogle
One big thing this book does is teach you how to use index funds to build wealth. Bogle is the founder of the Vanguard Group and the creator of the world’s first index fund. His book explains how this method is effective and warns against investment fads and fashions.
The Investment Answer by Daniel C. Goldie and Gordon S. Murray
The authors of this book take five decisions every investor makes as the general guide to investing. These decisions include whether to invest alone or with a professional, when to sell or buy assets, or how to allocate among stocks, cash, and bond. The guide is brief and jargon-free so that any investor can understand it.
Security Analysis by Benjamin Graham and David L. Dodd
Graham, Buffett’s mentor, provides another resource that focuses on the idea that the analysis will tell you what you need to know about the value of a company and market, so make sure it is thorough.
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing by Burton Malkiel
This book is a classic guide to investing and applauded for being the go-to book when starting a portfolio. Malkiel is a Princeton professor that addresses strategies, truisms, axioms, and superstitions on why index funds are better than stocks for individual investors.
The Essays of Warren Buffet by Warren Buffett
There are over 700 pages of letters and notes of Buffett’s philosophies on investing, business, and life in this book. The core idea he centers on is the difference between value and price.
Reminiscences of a Stock Operator by Edwin Lefevre
While this fictionalized biography is from 1923, it is full of anecdotes and timeless lessons for any investor to learn from.
Common Stocks and Uncommon Profits and Other Writings by Philip Fisher
The emphasis of this book is that financial statements are not enough and evaluating a company’s management is also necessary to determine if investing is smart.
The Clash of the Cultures: Investment vs. Speculation by John Bogle
Through practical investment tips, Bogle points out that long-term investing has been replaced by short-term speculation. His tips include taking advantage of compound interest, resisting urges to buy and sell hastily, reverting to the fundamentals, and not following the masses.
The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor by Howard Marks
Marks is the cofounder and chairman of Oak Tree Capital. In his book, he tries to help investors reach success with putting more thought into decisions. He uses his own mistakes and what he learned from them as the base for this. He also describes the downfalls of investing that destroy careers and capital.
Photo: theprospect.net
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