Site Devoted to Value Investing and Legendary Value Investors
My Top Ten
Stack of Books
This is an Overall Top Recommended reading list. All the books might not be suitable for beginners, but if someone asked me for the ten most valuable books on investing and personal finance I have ever read this would be my list. It was very hard to conduct this list because I am excluding tons of good books but these are my favorites.
2. John Neff on Investing by John Neff. John Neff ran Vanguard’s Windsor fund for over 3o years. During those 30 years John Neff beat the S&P 500 by over 3% a year and compiled one of the best long term records for mutual fund managers in history. John Neff recounts his years at Windsor and his strategy that he used to produce his unbelievable record.
3. You Can Be a Stock Market Genius: Uncover the Secret Hiding Places of Stock Market Profits By Joel Greenblatt. Joel Greenblatt’s hedge fund has returned over 40% annually for 20 years, making him one of the best investors in history. This book by Joel Greenblatt describes where to find hidden bargains in the market. Many of these include special situations, spin offs, bankruptcies and recapitalization. This book is not for the beginner but an investor with some background in value investing will find this book one of the best books ever written on value investing.
4. The Only Investment Guide You’ll Ever Need By Andrew Tobias. This book is not about investing per say but is an excellent book on personal finance. Tobias talks about credit card debt, saving money, buying insurance and gives advice that any ordinary American can appreciate. He also discusses investing a bit in the book where he provides good advice for the beginner.
5. The Four Pillars of Investing: Lessons for Building a Winning PortfolioBy William J. Bernstein. This is my #1 recommended book for beginning investors. While I do not agree completely with all the arguments made in the book, Bernstein provides excellent advice for beginners. He talks about common mistakes beginners make, how to allocate money, saving for retirement and more.
6. The Millionaire Next Door By William D. Danko. This book is a study of millionaires conducted several years ago. The results will shock you. You think your neighbor who works on Wall Street and drives a BMW is a millionaire? Think again! Most millionaires are small business owners who are frugal and save money for their retirement. This book is a great lesson that will teach you to be frugal and save more.
10. Value Investing: From Graham to Buffett and Beyond By Bruce Greenwald. Bruce Greenwald is one of the greatest thinkers on value investing. I got the privilege to meet and conduct a short interview with him in February 2010. He also is a brilliant professor and economist. This books describes different methods of value investing and some current value investors and the differences in their strategies. I would not recommend this book for beginners but for intermediate or advanced investors I highly recommend it.
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