-
“The Intelligent Investor” by Benjamin Graham
: This book is widely regarded as a must-read for any serious investor. Graham’s approach to investing emphasizes the importance of a long-term perspective and a focus on fundamental analysis.
Five Quotes:
- “The investor’s chief problem – and even his worst enemy – is likely to be himself.”
- “In the short run, the market is a voting machine but in the long run, it is a weighing machine.”
- “The intelligent investor is a realist who sells to optimists and buys from pessimists.”
- “To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks.”
- “The best way to measure your investing success is not by whether you’re beating the market but by whether you’ve put in place a financial plan and a behavioral discipline that are likely to get you where you want to go.”
-
“A Random Walk Down Wall Street” by Burton Malkiel:
This book challenges traditional investing approaches and provides insights into modern portfolio theory, efficient markets, and index investing.
Five Quotes:
- “The stock market is a giant distraction to the business of investing.”
- “The efficient market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
- “A broad-based, low-cost index fund is the investor’s best bet.”
- “Predictions are difficult, especially those about the future.”
- “If past history was all there was to the game, the richest people would be librarians.”
-
“One Up On Wall Street” by Peter Lynch:
Peter Lynch shares his investing philosophy and provides practical tips for identifying winning stocks and maximizing returns.
Five Quotes:
- “Know what you own, and know why you own it.”
- “The key to making money in stocks is not to get scared out of them.”
- “In the short run, the market is a voting machine but in the long run, it is a weighing machine.”
- “The simpler it is, the better I like it.”
- “The person that turns over the most rocks wins the game.”
-
“The Little Book of Common Sense Investing” by John C. Bogle
: This book provides a compelling case for index investing and the importance of keeping investment costs low.
Five Quotes:
- “Don’t look for the needle in the haystack. Just buy the haystack!”
- “The fund industry doesn’t have a lot of heroes, but he (Vanguard’s founder, Jack Bogle) is one of them.”
- “The miracle of compounding returns is overwhelmed by the tyranny of compounding costs.”
- “As a group, active investors must, by definition, earn the market return, but before costs.”
- “Reversion to the mean is the iron rule of financial markets.”
-
“The Warren Buffett Way” by Robert G
. Hagstrom: This book provides valuable insights into the investing approach of Warren Buffett, one of the most successful investors of all time.
Five Quotes:
- “Price is what you pay. Value is what you get.”
- “Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No.1.”
- “We try to buy stocks in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.”
- “In the short run, the market is a voting machine, but in the long run, it is a weighing machine.”
- “The investor of today does not profit from yesterday’s growth.”
-
“The Psychology of Money” by Morgan Housel:
This book explores the behavioral and psychological aspects of investing, providing valuable insights into how emotions and biases can affect investment decisions.
Five Quotes:
- “You will only be able to convince yourself to do the hard but important things if you’re anchored to a set of core beliefs.”
- “You must not fool yourself and you are the easiest person to fool.”
- “The highest form of wealth is the ability to wake up every morning and say, ‘I can do whatever I want today.'”
- “The highest form of wealth is the ability to live life on your own terms.”
- “A fundamental principle of wealth creation is that you can’t become rich if you spend everything you earn.”
- “Security Analysis” by Benjamin Graham and David Dodd:
This classic book provides in-depth insights into the principles of value investing and security analysis.
Five Quotes:
- “An investment operation is one which, upon thorough analysis, promises safety of principal and an adequate return. Operations not meeting these requirements are speculative.”
- “The intelligent investor is a realist who sells to optimists and buys from pessimists.”
- “In the world of securities, courage becomes the supreme virtue after adequate knowledge and a tested judgment are at hand.”
- “Confronted with a challenge to distill the secret of sound investment into three words, we venture the motto, MARGIN OF SAFETY.”
- “The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances.”
-
8.”Common Stocks and Uncommon Profits” by Philip A. Fisher
: Philip Fisher shares his investing approach, which emphasizes the importance of identifying high-quality companies with strong growth prospects.
Five Quotes:
- “The stock market is filled with individuals who know the price of everything, but the value of nothing.”
- “The truly great investment opportunities are not on a single company level, but on a group level.”
- “There are only a few companies where, once you’ve studied them, you know them so well that you can’t be wrong.”
- “The stock market is a no-called-strike game. You don’t have to swing at everything—you can wait for your pitch.”
- “The best time to sell a stock is almost never.”
- “
The Outsiders” by William N. Thorndike:
This book explores the investing approaches of eight successful CEOs who were able to generate high returns for their shareholders.
Five Quotes:
- “Capital allocation is always a choice between alternatives.”
- “CEOs who look at themselves as rational capital allocators will find that they make more money than those who view themselves as leaders.”
- “Concentrate your investments.”
- “One of the most valuable functions of a board is to help a CEO think through capital allocation.”
- “The real test of leadership is to manage through difficult times.”
-
10.“Thinking, Fast and Slow” by Daniel Kahneman
: This book explores the cognitive biases and heuristics that can affect investment decision-making, providing valuable insights into how to make more informed and rational decisions.
Five Quotes:
- “The confidence that individuals have in their beliefs depends mostly on the quality of the story they can tell about what they see, even if they see little.”
- “What you see is not all there is.”
- “We are more likely to learn something by finding surprises in our own behavior than by hearing surprising facts about people in general.”
- “Good ideas are rare.”
- “People can maintain an unshakable faith in any proposition, however absurd, when they are sustained by a community of like-minded believers.”
-
11.”The Essays of Warren Buffett” edited by Lawrence A. Cunningham
: This book compiles Warren Buffett’s annual letters to shareholders, providing valuable insights into his investing philosophy and approach.
Five Quotes:
- “If you aren’t willing to own a stock for ten years, doesn’t even think about owning it for ten minutes.”
- “Our favorite holding period is forever.”
- “We believe that according the name ‘investors’ to institutions that trade actively is like calling someone who repeatedly engages in one-night stands a ‘romantic.'”
- “Risk comes from not knowing what you’re doing.”
- “Price is what you pay, value is what you get.”
- “
Margin of Safety” by Seth A. Klarman:
This book provides valuable insights into value investing and the importance of a margin of safety when making investment decisions.
Five Quotes:
- “Value investing is at its core the marriage of a contrarian streak and a calculator.”
- “Don’t confuse a bull market with brains.”
- “Investing is the intersection of economics and psychology.”
- “The hard part isn’t finding stocks that are cheap, the hard part is finding cheap stocks that won’t go out of business.”
- “Successful investors tend to be unemotional, allowing the greed and fear of others to play into their hands.”
Important Notice:
If you are willing to purchase the books, you can click the title of each book and purchase them from Amazon store.
Or you can click the photos below: